What we do:
Global distribution of U.S. dollar banknotes is a strategic business line of the Federal Reserve System, managed by the Global Currency Programs & Services (GCPS) department of the Federal Reserve Bank of New York. GCPS monitors developments in the wholesale USD banknote market, produces analytical products on the use and flows of U.S. dollars banknotes overseas, and works with a variety of internal and external stakeholders on policy and operational issues related to the international wholesale U.S. dollar business. As a member of the GCPS Compliance team you will be responsible for identifying, assessing, and mitigating Anti-Money Laundering and sanctions risks of international cash distribution.
Your role as Compliance & Ethics Associate:
Conduct Know Your Customer and other due diligence on current and prospective customers using a suite of compliance applications.
Identify and implement transaction monitoring scenarios appropriate to business line. Generate requests for information and conduct investigations to resolve alerts or unusual activity.
Remain current on compliance industry practices and provide subject matter expertise and advise management design of compliance program controls.
Provide real-time monitoring and analysis of developing risks in the global USD wholesale banknote market and recommend risk mitigation actions.
Develop and maintain working relationships with market participants and industry contacts.
Maintain departmental compliance policies and procedures; develop compliance-related presentations and perform special projects as assigned.
Perform operational reviews as required
What we are looking for:
CAMS (Certified Anti-Money Laundering Specialist with extensive experience in BSA/AML and OFAC compliance within the financial services industry.
Proven experience in Know Your Customer Reviews, Enhanced Due Diligence, transaction monitoring, sanctions screening, case management, and investigation of unusual activity.
Experience with AML software systems and tools for monitoring and reporting.
Ability to fine-tune system rules, risk scoring models, and alert thresholds to optimize detection while managing alert volumes".
Experience with third party Compliance tools such as World Check, Bankers Almanac, Lexis Nexis, and Orbis.
In-depth understanding of applicable regulations, including the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) guidelines.
Demonstrated ability to apply regulations and guidelines issued by FINCEN, OFAC, and other regulatory bodies.
Familiarity with federal banking laws related to AML/CFT (Countering the Financing of Terrorism).
Certified Fraud Examiner (CFE) and Certified Regulatory Compliance Manager (CRCM) designations are highly desirable.
Salary Range: $120,000-$150,000 / year
We believe in transparency at the New York Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions.
Our Touchstone Behaviors—Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership—help shape the culture of the Bank. They also provide a shared language for how we work together and achieve success, and they set clear expectations for leading with impact at every stage of your career with us. Learn more.
Benefits:
Our organization offers benefits that are the best fit for you at every stage of your career: Fully paid Pension plan and 401k with Generous Match
Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA)
Subsidized Public Transportation Program Tuition Assistance Program
Onsite Fitness & Wellness Center And more
The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules.
The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, pregnancy, or military service.
We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at ny.leaves@ny.frb.org and we’ll be glad to help. Please note, this is a dedicated e-mail box designed exclusively to assist applications with accommodation requests in relation to our recruiting process. All other inquires including the status of applications will not receive a response from this e-mail box.
This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.
The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.
Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.