AML & Compliance Testing, Senior Associate

Senior Associate, AML & Compliance Testing

The Senior Associate, AML & Compliance Testing is a dual-hat role with primary responsibility for administering the firm's Anti-Money Laundering (AML) program under the Bank Secrecy Act (BSA) for its FINRA regulated broker-dealer (BD) operations and SEC-registered investment adviser (IA) as well as supporting risk-based compliance testing across our IA operations. The role requires a strong understanding of the differing regulatory obligations applicable to broker-dealers and registered investment advisers, including AML applicability, fiduciary obligations, disclosure requirements, and supervisory controls.

This position reports to the Executive Director, Compliance.

• Serve as the firm's designated AML Compliance Officer pursuant to FINRA Rule 3310.
• Own, maintain, and enhance AML Program, including policies, procedures, and internal controls.
• Oversee Customer Identification Program (CIP), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD).
• Ensure all OFAC checks are accomplished and documented.
• Review transaction monitoring alerts, exception reports, and surveillance outputs related to broker-dealer activity.
• Investigate potential suspicious activity and prepare, review, and file Suspicious Activity Reports (SARs) with FinCEN.
• Manage AML-related regulatory requests, law enforcement inquiries, and information-sharing obligations, including Sections 314(a) and 314(b).
• Ensure that annual AML training is delivered to registered representatives and applicable staff.
• Oversee AML service providers, surveillance tools, and clearing firm relationships.

• Perform independent testing of compliance controls for BD and IA requirements, including supervision, fiduciary duty, disclosures, conflicts of interest, communications, and recordkeeping.
• Conduct walkthroughs, sample testing, and root-cause analysis to assess control design and operating effectiveness.
• Prepare clear, regulator-ready testing reports with findings, risk ratings, and corrective action recommendations.
• Track remediation efforts, validate closures, and maintain testing documentation for regulatory review.

• Bachelor's degree or equivalent professional experience.
• 3-7+ years of experience in compliance, supervision, or a related function within a broker-dealer or RIA, with specific BSA/AML experience required.
• Strong working knowledge of FINRA Rules 3310, 3110, and 3120; BSA/AML regulations, and SEC Advisers Act requirements.
• Strong analytical, investigative, and problem-solving skills.
• Excellent written and verbal communication skills for regulatory and executive audiences.
• Ability to assess and articulate regulatory distinctions between BD and IA requirements.
• Independent judgment with a collaborative, risk-based approach.
• Strong organizational and project management capabilities.
• Support the compliance function by completing additional projects and responsibilities as assigned.

• Coverage on the first day of employment for medical, dental, and vision insurance
• Paid parental leave (16 weeks for primary caregiver and 8 weeks for secondary caregiver)
• Mother's lounge onsite
• Flexible PTO plan
• Free gym in the Chicago office
• 401k matching plan
• HSA employer contributions
• Student loan assistance
• Pet insurance
• Base salary of $90,000-$100,000 plus discretionary bonus (exact base salary amount will be dependent on experience)

AN EQUAL OPPORTUNITY

EMPLOYER:

Hightower is an equal opportunity employer and does not discriminate based upon race, color, religion, sex, sexual orientation, pregnancy, marital status, national origin, citizenship, veteran status, ancestry, age (over 40), physical or mental disability, medical condition (cancer-related), gender identity or expression, genetic information including sickle cell or hemoglobin C trait, or any other consideration made unlawful by applicable federal, state, or local law.

You are a U.S. citizen, U.S. permanent resident or possess other unrestricted U.S. work authorization and will not require sponsorship for U.S. work authorization now or anytime in the future.