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Position Summary: The US Head of Compliance Reviews is responsible for conducting bank regulatory and AML/Sanctions compliance reviews for the Bank. This position will be responsible for designing and leading in-depth reviews, with a specific focus on the AML and Sanctions programs across all lines of business at the branch. The reviews may be international in scope. This position conducts reviews to assess the design and effectiveness of the bank's AML/Sanctions controls and processes for compliance with applicable AML/OFAC/Sanctions regulations and adherence to corporate AML/Sanctions policies, procedures, and processes. This includes completing timely and appropriately scoped reviews pursuant to an established schedule; assessing data samples when necessary to determine if practices adhere to applicable AML/Sanctions laws, regulations and regulatory expectations; discussing findings with management; and documenting findings in written reports and work papers. Must have strong testing or auditing skills, core project management skills, the ability to prioritize / manage time, and a willingness to tackle new and difficult challenges. The position will be expected to interact with senior management across the lines of business within Commerzbank as well as other corporate functions. This position requires strong ownership of the learning process as well as substantial analytic skills. This individual may be involved in supporting management of vendor services when utilized for remedial or look-back or other review functions. Essential Duties and Responsibilities:
Coordinate and manage the execution of reviews of the effectiveness of controls and processes designed to achieve compliance with AML and economic sanctions requirements and ad hoc issues
Coordinate cross jurisdictional reviews of control and process effectiveness that impacts the US business
Liaise with key stakeholders including the Head of AML/Sanctions US, key global AML/Sanctions compliance officers, and team management of US AML and Sanctions on the scope and results of testing
Liaise with Branch and Broker-Dealer senior management as well as functional groups responsible for the day to day execution of relevant processes and controls
Manage the review process from end-to-end: including scope of reviews and testing plan, report generation, proactively addressing control gaps, and personnel and systemic stress points
Assist with strategic capacity planning, caseload analysis and staffing requirements for the review team
Assist with the development of methods for measuring team effectiveness
Establish collaborative working relationships
Participate in assigned sub-committees and working groups
Create team data analytics and other ad hoc reporting, presentations and projects
Partner with Quality Assurance, including review of TSU, EDD and Sanctions BAU practices for effectiveness
Prepare annual AML Compliance Testing Plan using risk-based approach and utilizing results of AML risk assessment. Experience /Qualifications/Education:
Bachelor's degree and an advanced degree (JD, MBA or Master's degree) is preferred.
15 + years of successful prior global AML compliance management and audit or testing experience. The experience must include direct accountability for critical AML compliance functions, management of teams responsible for critical functions, and expert knowledge of compliance laws and regulations pertaining to AML and the global financial services industry.
Experience with supervisory or managerial experience in audit, investigational and/or advisory capacity
Prior successful experience in overseeing the remediation of AML and OFAC regulatory and enforcement orders.
Must have proven ability to collaborate with others, initiate action, make high impact decisions and respond to a constantly changing regulatory environment.
Must be a self-starter, capable of working under minimum supervision; Executive who can easily and efficiently transition across topics and disciplines
Problem solving skills – must demonstrate the ability to identify key issues, obtain appropriate information for further analysis, and develop actionable recommendations
Analytical skills – must be highly analytical with experience in collecting, analyzing, and synthesizing information on various subjects.
Internal Number: 4641813
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