Compliance Associate

International Banking/Brokerage Client seeks highly motivated individual to assist their Compliance Department with New Account due diligence and regulatory compliance, Know Your Customer (KYC) and Anti-Money Laundering (AML), OFAC and internal Monitoring and Surveillance testing.

The Bachrach Group is your source for leading edge Executive Recruiting and Consulting Services. Our reputation is built on over 30 years of success providing a broad range of services and solutions.

Since 1974, The Bachrach Group's philosophy has ensured excellence in providing services to our corporate clients and to our candidates. When first formed, The Bachrach Group specialized in the accounting and financial fields. Over the years we have successfully diversified and today we specialize in staffing solutions in the following areas: Accounting & Finance, Technology, Administration & Office Support, and Real Estate & Construction.

Details of Role:

Ensure due diligence is performed on all new clients to comply with the firm's KYC/BSA and AML policies and procedures

Asist in monitoring and reviewing external communications with potential and existing clients
Organization and ability to prioritize work flow to ensure deadlines are met

Assist with preparation for all internal/external audits
Participate in special projects with minimal oversight

Execute Branch anti-money laundering and “Know Your Customer” procedures and support front office business units during the on-boarding of new relationships.

Conduct monitoring reviews specific to the Anti-Money Laundering surveillance program. Document and report all findings and suspicious transactions to management.

Implement the internal Monitoring and Surveillance testing program. Create documentation to memorialize all findings. Prepare tracking documentation for all action items.

Assist senior Compliance staff in the conduct the New York Branch regulatory examination program.

Assist in the delivery of the Branch’s Annual Compliance and New Hire Compliance training.

Requirements:

• BA/BS preferred, or demonstrated credits in a degree program.
• Past experience with MS Office and related software (Prime, World-Check, Bankers Almanac, etc.) is expected.
• Minimum 2+years of experience in corporate Compliance
•  Basic knowledge of New York State Banking Department and Federal Reserve regulations, AML procedures and “Best Practices”; Bank Secrecy Act; and USA Patriot Act requirements.
•  Ability to create Compliance related documentation, prepare retention schedules and create reports for senior management.
• Review OFAC stop payment for potential violations.
• To insure the Payment Service's OFAC operations is conducted in the most safe and efficient manner possible.
• Maintain the highest possible regulatory standards of quality, while minimizing risk to both the Bank as well as our customers.
• The candidate will require a strong understanding of Regulatory awareness, and the regulations which govern it.
• The candidate will need strong regulatory capabilities including good written and oral communications skills. They will also require a strong understanding of Funds Transfer operations and the regulations, which govern it.
• The candidate must possess knowledge of accounting and basic understanding of systems. Word, EXCEL, Lotus Notes and Intellimatch.

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www.thebachrachgroup.com

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