Director, BSA Officer Capital Markets, LLC – Wealth Management

What is the opportunity? This role acts as the designated Bank Secrecy Act AML Officer (“AML Officer”) and Economic Sanctions Officer (“OFAC Officer”) to ensure the sufficiency of RBC CM LLC – Wealth Management’s (“USWM”) compliance with the USA PATRIOT Act, Economic Sanctions, and related regulations and guidance. He/she provides the adherence with, oversight, coordination and execution of various activities related to these regulations, responsible for updated relevant policies, procedures, vendor oversight and training.

• As Money Laundering Reporting Officer (“MLRO”) for RBC Capital Markets, LLC (“RBCCM LLC”) US Wealth Management, responsible for supervising and ensuring compliance with RBCCM LLC’s Bank Secrecy Act and FINRA rule 3310 AML USWM programs and all related regulatory obligations.
• As OFAC Officer on behalf of USWM Financial Crime, responsible for supervising and ensuring compliance with relevant economic sanctions in coordination with the RBC Enterprise Global Economic Sanction team.
• Responsible for oversight of Target Operating Model functions supporting the AML and OFAC programs.
• Voting member of the Financial Crimes Management Committee, as well as collaborating with and supporting the CUSO governance process.
• Leadership of a team of Financial Crimes professionals including hiring, mentoring, as well as new and replacement staffing.
• Lead and oversee key components of the USWM Financial Crimes programs and ensure alignment to the overall RBC US Financial Crimes strategy.
• Responsible for Anti-Bribery Anti-Corruption (“ABAC”) and Economic Sanctions compliance with the support of the Global Economic Sanctions teams.
• Committee participation within both the business and CUSO including Product Risk Review Committee (PRRC), High Risk Client Committee (HRC), and various others.
• Ensure policies, standards and procedures are in line with RBC Enterprise Policy and U.S. regulatory requirements.
• Provide oversight and effective challenge of the financial crimes control environment for the RBCCM LLC broker-dealer.
• Ensure there are current and appropriately tailored transaction monitoring typologies for activity by, at or through the RBCCM LLC broker dealer.
• Oversee development and maintenance of key internal controls for mitigating Financial Crimes risks.
• Oversee the Internal Audit annual independent review and second line testing by FCOT of the Financial Crimes programs.
• Reviewer, advisor, and approver of the annual risk assessments, as well as overseeing remediation of any resulting findings.
• Oversee remediation of any findings that originate from FCOT, internal audit, and/or regulators.
• Liaison with regulators and law enforcement, as warranted.
• Ensure there are escalation processes of potentially suspicious activity.
• Recommend tailored training and provided feedback on annual training enterprise training course.
• Complete an annual review and assessment of the adequacy of staffing supporting the Financial Crimes programs.

• Bachelor's degree in business, finances, or similar
• 10-12 or more years of experience in banking and financial services
• FINRA Series 7 and 24 or willingness to obtain
• Strong understanding of Bank Secrecy Act (“BSA”), Office of Foreign Asset Control (“OFAC”), and other relevant U.S. regulations
• Effective communication skills and ability to impact/influence
• Demonstrated leadership and management skills
• Sound knowledge of banking/brokerage operations

• Advanced degree i.e. JD, MBA
• Certified Anti-Money Laundering Specialist (“CAMS”) designation
• Ability to lead a team of Financial Crimes professionals
• Able to influence first line leadership, in addition to enterprise leaders
• Strong organizational/time-management skills
• Ability to effectively prioritize and complete multiple priorities
• Strong critical thinking skills and meticulous attention to detail
• Ability to interact with 1
  
  LOD/2
  
  LOD functions
• Ability to deal with ambiguity
• Ability to pursue goals and resolve obstacles encountered
• Broad knowledge of banking and investment products/services and understanding of FC-related risks (i.e., money laundering, terrorist financing, sanctions, bribery and…