Director, BSA Officer for RBC 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.

What will you do?

• 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.

What do you need to succeed?

Must-Have

• 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

Nice-to-have

• 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 1LOD/2LOD 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 corruption)

What's in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off.
• Leaders who support your development through coaching and managing opportunities.
• Ability to make a difference and lasting impact.
• Work in a dynamic, collaborative, progressive, and high-performing team.
• Opportunities to do challenging work.
• Opportunities to build close relationships with clients.

The expected salary range for this particular position is $140,000-$240,000, depending on your experience, skills, and registration status, market conditions and business needs.

You have the potential to earn more through RBC's discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals.

RBC's compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:

• Drives RBC's high-performance culture
• Enables collective achievement of our strategic goals
• Generates sustainable shareholder returns and above market shareholder value

Job Skills

Additional Job Details

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Our Employment Opportunities

At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One RBC. We believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

RBC is presently inviting candidates to apply for this existing vacancy. Applying to this posting allows you to express your interest in this current career opportunity at RBC. Qualified applicants may be contacted to review their resume in more detail.