Associate, AML Risk Assessment - Hybrid - Boston, MA
About the position The Associate - AML Risk Assessment serves as a subject matter expert for the conduct of scheduled and ad-hoc assessments of BSA / AML and OFAC risk across lines of business and an assessment of controls in place to mitigate such risks. Reporting to the Deputy BSA/AML Officer within the BSA/AML and OFAC Advisory team, the Advisor will ensure the assessments address regulatory, legal and enterprise policy requirements, emerging risks and trends and the impact to such risk driven by supporting controls. This role will perform risk assessments, synthesize analyses, identify root cause(s), and provide recommendations to management that influence business solutions. Plan, manage, and execute the annual risk assessment process that assesses the BSA/AML and Sanctions compliance risk across the bank including all lines of business. This process identifies the inherent level of compliance risks, assesses the effectiveness of related controls, and determines the residual compliance risk levels. Conduct ad-hoc assessments to document Santander's exposure to emerging risks and trends and the status of existing, or need for creation of, supporting controls for mitigation. Support other risk assessments and analysis as requested. Analyze both qualitative and quantitative data and generate thematic observations and strategic recommendations. Prepare written reports for a variety of stakeholders, including executive-level reporting for regularly scheduled Compliance Committee meetings. Document and organize supporting evidence. Design and execute governance routines to enhance efficiency and quality. Responsibilities • Conduct scheduled and ad-hoc assessments of BSA / AML and OFAC risk. • Ensure assessments address regulatory, legal and enterprise policy requirements. • Perform risk assessments and synthesize analyses. • Identify root causes and provide recommendations to management. • Plan, manage, and execute the annual risk assessment process. • Conduct ad-hoc assessments to document exposure to emerging risks. • Analyze qualitative and quantitative data to generate observations. • Prepare written reports for stakeholders, including executive-level reporting. • Document and organize supporting evidence. • Design and execute governance routines. Requirements • Bachelor's Degree or equivalent work experience in Finance, Business or equivalent field. • 5+ years of experience in Compliance, Legal, Regulatory, or Financial Services. • Advanced knowledge of BSA, USA PATRIOT Act, and OFAC Sanctions regulatory requirements. • Experience monitoring and assessing money laundering and sanctions risk. • Experience planning, executing, and reporting on compliance monitoring and assessment activities. • Strong analytical skills with the ability to identify compliance and project risks. • Excellent interpersonal skills with experience building relationships with stakeholders. • Excellent communication skills, both written and verbal. • Excellent presentation skills with the ability to articulate complex problems. • Demonstrated experience facilitating change to achieve measurable results. Nice-to-haves • Certified Anti-Money Laundering Specialist. Benefits • 401k • health_insurance • dental_insurance • vision_insurance • tuition_reimbursement • paid_holidays • flexible_scheduling Apply tot his job