Compliance and Ethics Specialist

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. The Bank believes in work flexibility to balance the demands of work and life while also connecting and collaborating with our colleagues in person. Employees can expect to be in the office a couple of days per week as needed for meetings and team collaboration and should live within a commutable distance. What we do: The Compliance Function is an independent advisory and control function within the Federal Reserve Bank of New York. The mission of the Compliance Function is to protect the Bank and serve the public interest by ensuring that the Bank adopts sound risk-based compliance controls and by promoting a strong ethical mindset. The Compliance Function’s Financial Crimes Unit (“FCU”) is responsible for developing and implementing the Bank’s Anti-Money Laundering (“AML”), Sanctions, and Fraud policies, procedures, monitoring, research, training, escalation, and reporting. Your role as a Compliance & Ethics Specialist: Maintain effective relationships with first line of defense colleagues, business area management and staff to gain insight into financial crime related risks associated with business area activities, objectives, processes, and overall control environment. Support management in the creation and execution of program enhancements, including but not limited to documented guidance, training curriculums, escalation procedures, and innovative technology solutions for key controls. Communicate effectively and professionally, both written and verbally with all levels of management and staff regarding AML and Sanctions related matters. Conduct detailed and well supported investigations of transactions for the identification of suspicious activity and/or potential sanctions matches, documented with clear rational to support disposition determinations. Conduct detailed due diligence research using various databases on transactions and related parties. Concisely and effectively communicate due diligence findings, both written and verbally, for senior stakeholders at the Bank. Develop, review, and execute on FCU policies, procedures, and controls, and identify opportunities for enhancement. Provide subject matter expertise and judgment on financial crime responsibilities, and other topics as assigned. What we are looking for: Relevant work experience in AML, sanctions, regulatory, compliance, or risk management. Substantive knowledge of anti-money laundering, Bank Secrecy Act (“BSA”), Office of Foreign Assets Control (“OFAC”), transactions monitoring, know-your-customer (“KYC”), customer due diligence (“CDD”), sanctions compliance, payment screening, fraud, and broader compliance and ethics fields. ACAMS Certification, a plus. Strong written, verbal, and presentation skills, including experience providing client service and the ability to communicate findings in a concise manner to all levels of management. Highly developed analytical and problem-solving skills, with the ability to independently conduct investigations, identify issues, draw conclusions, and produce reports and recommendations that translate an idea into appropriate action. Demonstrated ability to think critically, assimilate new information, make sound decisions, manage multiple responsibilities and respond effectively in time-pressured situations or to meet tight deadlines. Emotional intelligence, with the ability to build trust in a variety of relationships through candor, reliability and authenticity as well as the capacity to embrace and draw from diversity and inclusion to improve the quality of outcomes. Possession of or the ability to obtain and maintain national security clearance, which requires U.S. citizenship. Touchstone Behaviors set clear expectations for leading with impact at every stage of our careers and aspire to achieve in our continued growth and development. Communicate Authentically: Empathetically engage one another with direct and transparent dialogue and listening. Actively discuss viewpoints with respect and compassion in a timely and candid manner, taking into account verbal and nonverbal cues. Ask questions, learn from each other, and share information widely to move the Bank's work forward. Collaborate Inclusively: Inspire a diverse and inclusive environment that empowers others to contribute meaningfully. Intentionally bring a diverse set of people together to achieve positive business results. Drive Progress: Grow and adapt to changing priorities in the Bank. Experiment with new concepts and take appropriate risk to drive innovation. Remain curious and action oriented, navigating through ambiguity and uncertainty to drive outcomes. Develop Others: Equitably champion, mentor, and develop others to grow professionally. Demonstrate vulnerability and empathy to create a trusted environment. Take Ownership: Establish an environment of action and excellence by holding self and others accountable to execute to the highest standard. Benefits: Our organization offers benefits that are the best fit for you at every stage of your career: · Fully paid Pension plan and 401k with Generous Match · Comprehensive Insurance Plans (Medical, Dental and Vision including Flexible Spending Accounts and HSA) · Subsidized Public Transportation Program · Tuition Assistance Program · Onsite Fitness & Wellness Center · And more Candidates must undergo an enhanced background check and will be tested for all controlled substances prohibited by federal law, to include marijuana. The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service. The successful candidate must be fully vaccinated against COVID-19, and receive a booster shot within 30 days of being eligible to do so, unless the Bank grants an exemption based on a medical condition or sincerely held religious belief. This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change. Full Time / Part Time Full time Regular / Temporary Regular Job Exempt (Yes / No) Yes Job Category Legal Family Work Shift First (United States of America) The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences. Privacy Notice