Overview

Job Title:             BSA/AML/OFAC Risk Assessment

Location:             New York, NY

  • Responsible for enhancing and updating the BSA/AML and OFAC Risk Assessment Methodology, development of the annual risk assessment plan, executing and documenting the risk assessment with supporting documentation and reporting the results to senior management.
  • Continued communication to the Senior Compliance Manager & Deputy MLRO on the updated BSA/AML and OFAC Risk Assessments Methodology and execution activities.
  • Maintain effective channels of communication with business and other units to understand BSA/AML and OFAC risks and internal control mitigants for each area.
  • Review, identify and document BSA/AML & OFAC inherent risks related to Geography, New Business /New Products/Services, Customers and Counterparties.
  • Perform a critical review of assigned businesses and other units’ mitigating controls for BSA/AML and OFAC (Controls, Policy, Procedures and Systems).
  • Understand, monitor and incorporate specific BSA/AML and OFAC risks as well as the Bank’s mitigating internal controls relating to customers, products & services, and geographies for assigned business units.
  • Conduct both a quantitative and qualitative analysis on all the risk assessment factors.
  • Own and execute the BSA/AML and OFAC risk assessments of the Client with the goal for the continual improvement of the Bank’s risk assessment methodology.
  • Retain documentation/information and maintain AML Committee meeting minutes related to BSA/AML and OFAC Risk assessment as well as to other AML Compliance matters.
  • Maintain Tracker for identified control assessment gaps and coordinate with other stakeholders for resolution of gaps.

Job Order ID: 1224