Senior AML Manager
Company: MJ Boyd Consulting
Location: New York
Posted on: November 26, 2022
The Senior Manager will help lead the AML Unit Audit function to
appropriately assess the design and operational effectiveness of
internal controls and adherence to Bank policies and applicable
regulatory requirements, particularly those related to AML/ATF and
Sanctions Risk Management across the Bank.Primary responsibilities
Act primarily as Project Lead for moderate to highly complex AML
audits that focus on the processes and internal controls of the
Global - Compliance unit and other major compliance units in higher
risk areas globally.
- Participate in significant Business Line Audits where adherence
to significant compliance processes is being evaluated.
- Support the Director, AML Audit to develop, maintain and monitor
application of audit programs for high risk compliance processes,
and to collect, analyze and report cross bank AML audit
- Stay abreast of emerging compliance risks and communicate key
changes to impacted Audit staff.
- Review and provide input to changes to compliance policies,
handbooks etc. Ensure department standards are maintained in
completion of all assignments.Accountabilities:1. Audit
- Identify systemic/emerging issues and changes planned/undertaken
by the auditee that will impact the audit plan through discussion
with the OIC and Audit Principal. This may include preplanning
meetings and walkthroughs with auditees to confirm our
understanding of the processes and activities subject to audit.
Develop a thorough understanding of the business, risks and
processes for assigned projects through a review of the Business
overviews, Risk Assessment Database, Bank manuals and other related
- Provide input for the Annual Audit Plan including gathering of
key trends and information to confirm planned risks/areas of audit
Assist in scheduling audits and identifying necessary resources,
ensuring the approved audit plan is implemented. Manage the
planning of the annual independent review of AML/ATF and Sanctions
- Direct the planning of AML audits for diverse units by ensuring
scope and extent of work is in accordance with the approved plan,
timing and budget are reasonable, procedures are efficient,
appropriate resources are assigned, and risks understood. Prepare
planning documentation and sample selection in accordance with the
Audit Methodology including the Audit Project Outline and
Develop and/or update Detailed Audit Programs (DAPs) when changes
in AML/ATF and Sanctions regulations and processes occur as
required.2. Auditing and Execution
- Execute and manage assigned activities independently in
accordance with the Department Standards ensuring the nature and
extent of testing is appropriate to support the audit opinion. As
ore of medium to highly complex assignment, this includes
ensuring appropriate completion and review of documentation
prepared by audit team members.
- Complete on-site review of assignments as required to ensure
adequacy of work performed to support the audit conclusions and
compliance with Department Audit Methodology.
- Manage the execution of the annual independent review of AML/ATF
and Sanctions regulations.
- Supervise assignments with low to medium complexity (e.g.
large/central units, complex processes) providing coaching and
oversight as Audit Principal to the OIC.3. Problem
- Ensure audit results are gathered, determine the root cause of
the problem and associated impact, and report accordingly with
limited supervision. Confirm results of the audit work with the
- Prepare and/or review audit findings for presentation to
management. Document reported issues in the Audit Issues Tracking
Database as required. Review the quarterly status of outstanding
issues as assigned.4. Reporting/Communication
- Written reports and correspondence demonstrate good understanding
of issues with key risks clearly articulated and materiality and
associated impact clearly explained in accordance with the
Department Audit Methodology. Recommendations build in best
practices observed in other units.
- Review/edit reporting from team members and summarize issues in
final audit report for assignments of higher complexity.
Present findings to line management and conducts audit closings
including a discussion/presentation to management with an overview
of the audit results and findings for those assignments with some
assistance from more senior audit personnel.
- Follow-up for corrective action/progress against reported issues
in the Audit Issues Tracking database on a quarterly basis.
Escalate where necessary.5. HR Management
- Comply with department established HR Management policies and
- Provide guidance and coaching to staff by providing direction and
communicating expectations; impart specialized skills to other
audit officers through peer discussions and cooperation on
cross-functional audits, coaching and performance management.
- Prepare/review (for direct reports) periodic and annual
performance self-assessments, personal goals and objectives for
measurement of performance, a career development and training plan
and monitor for achievement/completion.
- Manage self-development by/through confirming/communicating job
expectations and assessing progress; identifying mentors/coaches
and enquiring about training needs; ensuring timely completion of
performance appraisals; recruiting, interviewing and selecting
Manage assigned staff. Conduct regular team meetings.6. Special
- As directed by management, carry out specific projects or
investigations of a moderate or high complexity and/or confidential
- Plan, document and seek agreement in advance to the project
approach and confirm conclusions upon completion in
- Assist/OIC work performed on behalf of the external auditors as
- Continue self-development to expand or maintain an understanding
of the business line's key processes and business applications.
- Provide advisory services as assigned (E.g. recommendations for
procedure changes, review/advise on internal control design,
- Make presentations to other staff to share information for areas
of specialization or information obtained in training programs and
- Assist with the peer review Quality Assurance Program including
review of documentation and reports of assigned audit project and
reporting of findings to Professional Practice Group.
- Attend to conference and seminars to acquire a comprehensive
update on sanctions regulations and legislation affecting the
financial services industry.Dimensions:
The incumbent should have a Certified Anti Money Laundering
designation (CAMS). Minimum of five years experience with
responsibility over AML related projects or area.Expert knowledge
- AML requirements and Bank policy regarding KYC and sanctions
including Canadian regulatory requirements as well as FATF
- OSFI and international regulatory compliance frameworks and
Thorough ability to write clear, concise audit reports as well as
internal and external communication. Thorough knowledge of MS Word,
Excel, and audit software tools.
Thorough knowledge of the Bank's organizational structure. Expert
knowledge of all audit processes and methodologies.
Ability to work independently and effectively as an individual
contributor and team participant. Ability to lead staff on all
engagements as required.Skills
- University degree is required.
- A law degree, CFA, FRM designations or graduate degrees in
Business, Finance or risk disciplines are preferred. AML
certification completed and ongoing educational development is
highly desirable.Assistant Compliance Manager / BSA
OfficerBSA/AML/OFAC Senior Compliance Ops ManagerEmail us at
email@example.com or give us a call on 212-832-0832
Keywords: MJ Boyd Consulting, New York , Senior AML Manager, Executive , New York, New York
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