Associate Director - AML & Sanctions Compliance
TIAA
The Compliance Officer leads broader planning of business unit compliance programs in order to ensure organization functions are in compliance with all relevant laws, regulations, and policies and to prevent illegal, unethical, or improper business practices within the organization. This job manages experienced professionals responsible for identifying, investigating, and reporting compliance risks.
Key Responsibilities and Duties
- Leads business unit compliance programs as well as the development, implementation, and revision of policies and procedures as needed to improve the communication, monitoring, enforcement, and/or general operation of business unit compliance programs.
- Advises business unit(s) and/or management on compliance programs, policies and procedures.
- Leads team members through compliance risk assessments, audits, and investigations, while training team members on best practices for identifying potential areas of compliance vulnerability and risk, as well as how to avoid or deal with problematic issues in the future.
- Guides the development and implementation of corrective action plans, ensures the correction of compliance deficiencies, and provides guidance to business unit(s) and/or management team on how to avoid or handle similar situations in the future.
- Communicates results of compliance and ethics initiatives of the business unit to management, including key takeaways and opportunities for improvement.
- Manages performance of team through regular, timely feedback as well as the formal performance review process to ensure delivery of exceptional compliance programs and to foster team member engagement, motivation, and development.
- University (Degree) Preferred
- 5+ Years Required 7+ Years Preferred
- Physical Requirements: Sedentary Work
Career Level
9PL
Job Title: Enterprise Compliance Associate Director
Business Area: Legal, Risk & Compliance
Job Code:
Job Tier:
TBD
Job Family: AML and Sanctions Compliance
FLSA:
No
Position Summary: Describe below the primarypurpose and function of this job
This role supports TIAA's enterprise-wide AML/BSA Program to ensure regulatory requirements are met, and to protect the institution from financial crimes risks. This individual is also responsible for supporting the AML target operating model. The role would be responsible for leading and building the AML and Sanctions Operations CoE in India. The position supports broader planning of AML Compliance programs in order to ensure organization functions are in compliance with all relevant laws, regulations, and, policies, and to prevent illegal, unethical, or improper business practices within the organization. This role focuses on projects and processes to identify, investigate, and report compliance risks, and identifies and implements efficiencies and technology that support Risk and Compliance processes. This role may also support other Risk and Compliance functions, including reporting, monitoring plan administration, and regulatory change management.
Key Duties & Responsibilities:
The following duties are generally representative of the nature and level of work assigned and are not necessarily all-inclusive:
- Assists with performing all phases of compliance monitoring and surveillance activities, including data collection, developing the scope, documenting applicable risks and controls, developing reproducible scripts, analyzing and interpreting findings, documenting and tracking issues and observations, and drafting written reports.
- Monitors, tracks, designs, and implements corrective action plans to resolve compliance issues and to ensure that compliance deficiencies are corrected.
- Identifies and implements preventative measures, compliance processes, revised policies and procedures to improve the general operation of business unit compliance programs.
- Responsible for developing an understanding of various Bank Secrecy Act (BSA)/ Anti-Money Laundering (AML) monitoring and Sanctions screening programs
- Oversite over Watch List Filtering screening - Quality Control (QC) /Quality Assurance (QA) process
- understanding of various systems to support AML model tuning and optimization
- Collaborate with other operations analysts to contribute to the development of AML detection models
- Assists with administering the firm's process for identifying and addressing regulatory changes that are impactful to the firm
- Synthesizes structured and unstructured data related Risk and Compliance monitoring and testing, issues, regulatory changes, programs, and assessments.
- Supports efforts to identify and implement efficiencies and technology enhancements, such as automation and robotics, to support Compliance processes. Liaises with Compliance, Risk and IT teams as needed.
- Maintain strong relationships with global and local stakeholders to understand emerging trends from Risk and Compliance perspective.
Management/Leadership Responsibility:
Lead a team of Associates
Budget Responsibility:
No Budget Responsibilities
Impact of Role
Own team, Business, Clients
Area of Impact - Financial Crime Compliance team
Skills Required
- Must be extremely detail-oriented with a very inquisitive nature, and possess sound judgement while operating with utmost integrity.
- Strong organizational and problem-solving skills along with the ability to conduct research utilizing a variety of resources. Must be comfortable issue spotting.
- Strong time management, analytical skills and ability to formulate, develop and execute strategic initiatives will be critical for success.
- Must have strong written and oral communication skills to interact effectively with business partners and colleagues.
- Comfortable in a high performance, fast paced, high-pressure environment and have exceptional partnering skills as teamwork and collaboration are highly valued.
- Exposure and experience in using risk and monitoring tools and techniques.
- Exposure to data mining techniques / tools would be an added advantage
Functional Knowledge Required
- Experience in a financial services firm in a Risk & compliance monitoring function.
- Knowledge of US-based regulatory requirements for financial firms would be added advantage.
- Strong Microsoft Office skills (Powerpoint, Word and Excel / pivot tables)
- ACAMS certification
Job Requirements And Qualifications:
Required Education:
BA/BS
Graduate ( Mandatory )
Preferred Education:
Masters
Required Experience:
10+ years
Preferred Experience:
10+ years
Overall
Hiring Preference
Shall be supporting US client, typically working hours :
(1 PM IST to 10 PM IST)
Required Licenses/Certifications:
Other
Related SkillsAdaptability, Business Process Understanding, Compliance, Compliance Trends, Critical Thinking, Detail-Oriented, Influence, Relationship Management, Risk Monitoring, Strategic ThinkingTIAA Global Capabilities was established in 2016 with a mission to tap into a vast pool of talent, reduce risk by insourcing key platforms and processes, as well as contribute to innovation with a focus on enhancing our technology stack. TIAA Global Capabilities is focused on building a scalable and sustainable organization , with a focus on technology , operations and expanding into the shared services business space.
Working closely with our U.S. colleagues and other partners, our goal is to reduce risk, improve the efficiency of our technology and processes and develop innovative ideas to increase throughput and productivity.
We are an Equal Opportunity/Affirmative Action Employer. We consider all qualified applicants for employment regardless of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other protected status.
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If you are a U.S. applicant and desire a reasonable accommodation to complete a job application please use one of the below options to contact our accessibility support team:
Phone: (800) 842-2755
Email:
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