Compliance & Ethics Associate

Company

Federal Reserve Bank of New York

Working at the Federal Reserve Bank of New York positions you at the center of the financial world with a unique perspective on national and international markets and economies.

You will work in an environment with a diverse group of experienced professionals to foster and support the safety, soundness, and vitality of our economic and financial systems.

At the Bank, we work full-time onsite with our teams.

We believe being physically together allows us to draw on our collective strengths, while recognizing that the ability to work flexibly from time to time remains important to achieving our mission.
This role is based in East Rutherford Operations Center (EROC), New Jersey.

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 vo...