Federal Reserve System

You will also prepare risk assessments and provide ongoing supervision as it pertains to Anti-Money Laundering (AML) issues.. Collaborating with risk management colleagues on their cross-portfolio assessments of BSA/AML risk and making risk-tailored supervisory recommendations.. Typically requires a minimum of eight or more years of direct or comparable banking, financial industry, or banking supervision experience with a focus in BSA/AML/OFAC subject areas.. Helpful, not required: Professional certification, such as the Certified Anti-Money Laundering Specialist (CAMS).. Experience performing BSA/AML and OFAC examination work at higher risk and/or complex banking organizations, as well as institutions with FinTech and virtual currency operations.

risk specialist

CompanyFederal Reserve Bank of San FranciscoWe are the Federal Reserve Bank of San Francisco—public servants with a mission to advance the nation’s monetary, financial, and payment systems to build a stronger economy for all Americans. We are a community-engaged bank, and are committed to understanding and serving the vibrant, expansive communities of the Twelfth District. That means we seek and appreciate new perspectives. We respect people for what they do and for who they are. We build opportunities to learn and grow. When you join the SF Fed, you become part of a diverse team united in its purpose to promote an economy that works for everyone. We empower our people to balance their life and work responsibilities. That’s why we offer a flexible hybrid work model that allows you to collaborate with office colleagues on some days, and work from home on others.Supervision + Credit (S+C) is responsible for the supervision and regulation of state member banks (SMBs), bank holding companies, savings and loan holding companies, financial holding companies, data service providers, trust companies, and foreign banking organizations that operate in the Twelfth District. Supervised institutions are in all states of the district and range in size and complexity from small community organizations to some of the largest banking organizations in the country.We need you! An experienced Sr. Risk Specialist to join the Bank Secrecy Act (BSA) team within the Risk, Policy, and Analysis Group of (S+C). As our Sr. Risk Specialist BSA/AML, you will help ensure the safety and soundness of the banking system and financial markets by performing examinations of banks and U.S. offices of foreign banks, as well as inspections of bank, financial, holding companies and their non-bank subsidiaries. You will also prepare risk assessments and provide ongoing supervision as it pertains to Anti-Money Laundering (AML) issues.Essential Responsibilities:Lead the planning, execution, and report writing for complex/high risk targeted BSA examinations, as well as participate in full-scope examinations of state member banks, foreign banking organizations, bank holding companies, and bank and non-bank subsidiaries.Evaluate policies, procedures, and controls used by institutions to ensure compliance with the BSA and the USA Patriot Act and Office of Foreign Asset Control (OFAC). Perform transaction testing to evaluate compliance with record keeping and reporting requirements as well as effectiveness of risk management processes and practices. Assess the technical expertise of AML staff and management, as well as the independence and effectiveness of audits.Prepare informative, well-supported supervisory products and work papers, effectively communicating complex and problematic supervisory findings, including required actions to banks’ senior management and boards of directors.Maintaining a high level of subject matter expertise and keeping abreast of emerging issues of particular relevance to the District, including trade-based money laundering, virtual currencies, Fin-Tech payment channels, and marijuana-related businesses.Collaborating with risk management colleagues on their cross-portfolio assessments of BSA/AML risk and making risk-tailored supervisory recommendations.Prepare and deliver written analyses and presentations on firm specific as well as broader industry trends or emerging risks. Provide briefings to senior District and Federal Reserve System staff and others in the supervisory community.Present to industry groups as part of outreach efforts.Providing mentoring and on-the-job training to examiners.Participating actively in unit, Fed System, and other knowledge-sharing platform groups and discussions.Requirements:Typically requires a bachelor’s degree in business, economics, finance, accounting, or a related field or equivalent experience.Typically requires a minimum of eight or more years of direct or comparable banking, financial industry, or banking supervision experience with a focus in BSA/AML/OFAC subject areas.Demonstrate a strong ability to influence effectively, resolve conflicts, and achieve collaborative outcomes to achieve supervisory goals, and build effective working partnerships.Capacity to identify and pursue multiple initiatives simultaneously and deliver outstanding results with minimal or no supervision.Strong written and communication skills in addition to an understanding of business risks, risk management, and banking principles.Strong problem solving and analytical skills that support and enable sound decision-making.Some travel is required, depending on one’s assignments and location (up to 40%).This position requires access to confidential supervisory information, which is limited to “Protected Individuals.” Protected Individuals include, but are not limited to, U.S. citizens and U.S. nationals, U.S. permanent residents who are not yet eligible to apply for naturalization, and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so or who will sign a declaration of intent to apply for naturalization before they begin employment.Helpful, not required: Professional certification, such as the Certified Anti-Money Laundering Specialist (CAMS).Experience performing BSA/AML and OFAC examination work at higher risk and/or complex banking organizations, as well as institutions with FinTech and virtual currency operations.#LI-HybridBase Salary Range: Min: $151,500 Mid: $196,700 $241,900 (Location: San Francisco)Final salary and offer will be determined by the applicant’s background, experience, skills, internal equity, and alignment with geographic and other market data.Full Time / Part TimeFull timeRegular / TemporaryRegularJob Exempt (Yes / No)YesJob CategoryBank ExaminationWork ShiftFirst (United States of America)Always verify and apply to jobs on Federal Reserve System Careers () or through verified Federal Reserve Bank social media channels.

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