AML Funds Transfer Compliance Lead SVP

Citi•Getzville, NY

About The Position

The AML Funds Transfer Compliance Lead is a senior level position responsible for establishing internal procedures to prevent money laundering and assist in all matters concerning financial crimes in coordination with the broader AML team. The overall objective is to utilize established disciplinary knowledge to identify inconsistencies in data or result and formulate strategic recommendations on policies, procedures, and practices. About the Role: Funds Transfer Compliance Lead The Anti-Money Laundering Compliance Risk Management (ACRM) function serves as the second line of defense in mitigating money laundering and terrorist financing risks for Citi and its customers across the globe. The ACRM team leverages deep AML expertise, robust risk management skills, and relevant business knowledge to proactively identify, assess, and manage AML risk across Citi's diverse client base, products, and geographies. This Funds Transfer Compliance Lead role is a critical position within the ACRM framework, specifically focusing on ensuring robust compliance oversight related to Funds Transfer within Treasury and Trade Solutions (TTS). The successful candidate will be instrumental in upholding Citi's stringent AML regulatory requirements for funds transfer activities.

Requirements

10+ years of relevant experience
Experience in managing regulatory exams and relationships with examiners and auditors
Extensive knowledge of appropriate regulatory requirements including local and US laws, international and industry standards
Proven leadership and motivational skills, with the ability to influence and lead diverse regional and global teams across cultures and senior levels
Significant experience within payments and cash management businesses, with a particular focus on product management, development, operations, and technology functions.
In-depth knowledge of AML laws and regulations, including a general and broad understanding of key AML and reputational risks (e.g., PEPs, Sanctions, AB&C, etc.) is required.
A background in general compliance/legal/audit, and candidates who can demonstrate an understanding of Citi AML policies and procedures, will be considered a strong plus.
Proven track record of delivering results in a challenging and changing environment.
Proficiency in Microsoft Office suite: Word, Excel, PowerPoint.
CAMS certification preferred.
Familiarity with AI/ML concepts and their potential application in financial crime compliance or process improvement is highly desirable. Exceptional analytical skills and judgment, with significant attention to detail
Bachelor’s degree/University degree or equivalent experience

Nice To Haves

Excellent interpersonal and team-building skills.
Motivated, enthusiastic, and positive demeanor.
Exceptional judgment and analytical skills with significant attention to detail.
Superior communication skills, including the ability to present detailed analysis and recommendations to business stakeholders in a succinct manner.
Unwavering commitment to working collaboratively and cooperatively with other team members.
Effective and proven management skills; self-managing and comfortable coaching staff.
Able to work on own initiative; a proactive self-starter.
Highly organized, efficient, and able to multi-task effectively.
Strategic and goal-oriented mindset.
Master’s degree preferred

Responsibilities

Execute and implement firm-wide AML risk management policy and strategic direction
Maintain AML compliance program for the business including assessment of risks and the development of policies, procedures, and governance
Identify and assess risk, vulnerabilities, and opportunities for efficient and effective risk coverage
Work within team and across business/functional line management to assess complex issues, structure potential solutions, and drive effective resolution within permissible statutory and regulatory frameworks
Evaluate and respond to escalated matters, further escalate as required, and advise senior management on next steps as needed
Provide direct oversight and critical review of Funds Transfer monitoring reports for countries where Citi process outgoing Funds Transfers and which are completed by the first line of defense, ensuring their accuracy, completeness, and adherence to established policies and regulatory requirements.
Actively challenge and validate that appropriate and timely remediation activities are being implemented and completed by the first line of defense in full alignment with Citi's Issue Management Standard, driving effective resolution of identified compliance deficiencies in relation to funds transfers.
Represent Funds Transfer Compliance Oversight in the Correspondent Banking Oversight Committee (CBOC) and the Payment Intermediary Oversight Committee (PIOC).
Ensure that payment transparency issues and enhancements are thoroughly discussed at these committees, and facilitate necessary escalations from these committees to the Global Funds Transfer Oversight Issue Management Committee, as appropriate.
Proactively evaluate existing funds transfer workstreams to identify and assess opportunities for integrating Artificial Intelligence (AI) and machine learning solutions, driving innovation and enhancing operational efficiency within the team. This includes exploring how AI can streamline processes, improve accuracy, and enhance risk detection capabilities.
Act as a mentor to junior staff, ensure successful training of payments to junior staff and continue to be driven to self-educate on payments innovation to appropriately oversee funds transfer regulatory adherence and knowledge share to junior staff.
Develop and refine the global program framework, including drafting and implementing policies, standards, and procedures for the execution of AML oversight and challenge for the TTS Product Development, Payment Operations, and Technology teams.
Lead and coordinate AML efforts with cross-Line of Business (LOB) teams, including Product, Operations, and Technology, to establish global standards and document known variations within country regulatory environments related to FATF-16/ Funds Transfer Regulations. Prepare Business LOB teams with updated regulatory requirements, including Recommendation 16.
Provide thought leadership, guidance, oversight, and challenge to global LOB teams working on ISO 20022 adoption, ensuring system enhancements and changes appropriately consider impacts to AML compliance requirements.
Offer day-to-day support to global TTS Product Development, Payment Operations, and Technology teams on AML compliance matters related to client on-boarding and maintenance, product and service launches, and client issue escalations/exits.
Collaborate with global stakeholders, including AML Technology, Monitoring Risk Management, and Operations, to effectively mitigate AML and Terrorist Financing risks.
Utilize insights from global regulatory changes, new regulations, and internal policy adjustments to proactively identify and address new key risk areas.
Analyze comparative data, prepare, and present comprehensive reports related to AML risk assessments, and monitor AML-related issues and escalations.
Develop strategic approaches and action plans for compliance and control issues by weighing various alternatives and balancing potentially conflicting situations.
Drive the development and deployment of targeted AML-related training for TTS Product Development, Payment Operations, and Technology teams as needed.
Provide guidance and support for cross-functional ad-hoc projects, including leading on project workstreams, as needed, arising from regulatory or environmental changes. The successful candidate should be prepared to execute other ad-hoc projects the Global Funds Transfer Compliance Lead may deem appropriate in relation to Funds Transfer AML, and AML more generally, where applicable.
Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.

Benefits

In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards.
Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs.
Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays.
For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.

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