Associate Compliance (AML & Sanctions)

Associate - Compliance (AML & Sanctions) - IN
The role will be responsible to support 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 by driving efficiency and effectiveness of the program through data analysis, reporting, and metrics. AML operations is responsible for oversight of the automated systems used for suspicious activity monitoring and detection, sanctions screening and watch list filtering, and enhanced due diligence
Key Responsibilities and Duties

• Monitors, tracks, designs, and implements corrective action plans to resolve compliance issues and to ensure that compliance deficiencies are corrected.
• Analyzing operational procedures, controls, transactions, documents and records and verifying compliance with regulations and defined policies and procedures

Educational Requirements

• University (Degree) Preferred

Work Experience

• 2+ Years Required; 3+ Years Preferred

Physical Requirements

• Physical Requirements: Sedentary Work

Career Level
6IC

Job Title: Enterprise Compliance Associate

Business Area: Legal, Risk & Compliance

Job Code:

Job Tier:

TBD

Job Family: AML and Sanctions Compliance

FLSA:

No

Position Summary: Describe below the primary purpose and function of this job

The individual will be responsible for reviewing, monitoring and escalating potentially unusual AML alerts associated with responsibilities outlined in the Bank Secrecy and US PATRIOT Acts through the use of automated monitoring systems. Responsibilities will also include other reporting requirements and analysis. 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 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:

• Analyze account activity that appears unusual utilizing TIAA's Suspicious Activity Monitoring tool (Actimize).
• Document all findings in centralized case management system.
• Recommend a course of action to management based on an analysis of the findings.
• Communicate with the Financial Crimes Compliance Team and management of related activities and scenarios detected during the suspicious activity monitoring process
• Assist with training new, less experienced associates on an as needed basis.

Management/Leadership Responsibility: 

No leadership responsibilities, this will be an Individual contributor role

Budget Responsibility:

No Budget Responsibilities

Impact of Role

Own team, Business, Clients

Area of Impact – Financial Crime Compliance team

Skills Required

• 3+ years of BSA/AML compliance experience
• Thorough knowledge of applicable BSA, OFAC, FinCEN, and AML regulations
• Knowledge of general banking operations, policies, and procedures
• Competency in using Excel, Word, core banking systems, and BSA monitoring systems
• Ability to research and present information and recommendations regarding complex cases
• Ability to work independently and meet deadlines
• Possess strong organization skills and attention to detail
• Ability to proactively identify potential concerns and follow-up to resolve such issues
• Superior verbal and written communication skills
• Strong Internet skills
• Proficient in the Microsoft Office suite

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 will be an advantage

Job Requirements And Qualifications: 

Required Education:

BA/BS

Graduate ( Mandatory )

Preferred Education:

Masters

Required Experience:

3-5 years

Preferred Experience:

3-5 years

Overall

Hiring Preference

Shall be supporting US client, typically working hours :

(1 PM IST to 10 PM IST)

Required Licenses/Certifications:

Other

Related Skills

Adaptability, Communication, Compliance, Conflict Management, Detail-Oriented, General Risk Management, Group Problem Solving, Relationship Management, Risk Mitigation, Risk Reporting

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Company Overview

TIAA 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.

Accessibility Support

TIAA offers support for those who need assistance with our online application process to provide an equal employment opportunity to all job seekers, including individuals with disabilities.

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: [email protected]

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