Senior Associate, Compliance Officer

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Date: Dec 2, 2022

Location: New York, NY, US

Company: New York Life Insurance Co

Location Designation: Hybrid 

 

 

When you join New York Life, you’re joining a company that values career development, collaboration, innovation, and inclusiveness. We want employees to feel proud about being part of a company that is committed to doing the right thing. You’ll have the opportunity to grow your career while developing personally and professionally through various resources and programs. New York Life is a relationship-based company and appreciates how both virtual and in-person interactions support our culture.

 

 

New York Life Insurance Company (“New York Life”) is seeking a Compliance Officer to provide support to our Financial Crimes area.  The position will report to the Chief Anti-Money-Laundering (“AML”) Officer of New York Life and is located in New York, NY.

 

The Compliance Officer will assist in fulfilling the Anti-Money-Laundering/Bank Secrecy Act requirements through identification and investigation of suspicious activity on behalf of New York Life Insurance Company and its Investment entities. The duties and responsibilities listed below are representative of the types of responsibilities the Compliance Officer may handle but are not intended to be an exclusive list.  New York Life is looking for a proactive team player to be an engaged member of the Compliance team.  The position will have regular interaction with senior management, compliance, legal and operations personnel.

 

RESPONSIBILITIES:

  • Analyze customer account transactions to detect suspicious activity and make recommendations on appropriate action.
  • Analyze leads for suspicious activity, including those generated from detection software, service of warrants, negative media reports, etc.
  • Work cooperatively with business line to establish procedures for identifying suspicious customer transactions specific to money laundering, including the proper workflow for reporting such activity to the anti-money-laundering group.
  • Involved with Intake of cases from the business areas.
  • Conduct enhanced due diligence (EDD) reviews and perform source of funds/source of wealth analysis while collaborating with others on cases in a team environment.
  • Conduct adverse news search on clients and all other interested parties.
  • Exercise or deploy a wide range of public-source research techniques and create detailed narrative investigative reports, presentations and, recommendations
  • Provide guidance, support, and recommendations to business lines regarding customer AML risk ratings and account activity.
  • Based on the outcome of the investigation, analyze and determine whether or not a Suspicious Activity Report (SARs) must be filed or other escalations must be made to different areas of the organization.
  • Work cooperatively with other financial institutions to obtain necessary information related to the investigation.
  • Work cooperatively and efficiently with local, state, or federal authorities to investigate suspicious account activity and respond to their inquiries and requests.
  • Prepare investigation reports for management, including tracking and trending of AML investigations and results of lookback reviews.
  • Assist in implementation of AML/BSA detection and prevention methods, such as training and instruction manuals.
  • Review our book of business for potential 314(A) matches.
  • Support special projects or critical casework.
  • Review, research and resolve potential sanctions matches using screening software on payment transactions, customer account screening, and due diligence reviews
  • Respond to client AML and sanctions certification requests.

 

QUALIFICATIONS AND EXPERIENCE

  • 3-5 years’ experience in compliance in any of the following: Bank Secrecy Act, AML Compliance, general and/or risk based compliance, yielding a comprehensive understanding of technology and best practices in the compliance field, specifically focused on the investigation of suspicious activity and transactions.
  • Ability to work independently and with others and meet critical deadlines.
  • Detail-oriented, organized, highly proficient individual to work in a fast-paced, deadline driven environment, and able to solve complex problems in a collaborative manner.
  • Willingness to learn new AML and Sanctions skills.
  • Strong communications (both verbal and written) skills and analytical skills. Good relationship builder.
  • Ability to stretch and be challenged.
  • Ability to recognize new/emerging patterns/typologies and respond with appropriate investigative techniques based on applied knowledge and a wide range of research/investigative techniques.
  • Strong investigative and the ability to perform varied and extensive research.
  • Experience conducting research on the Internet, utilizing such tools as Westlaw, Lexis/Nexis, WorldCheck, etc.
  • Knowledge of the global laws and regulations applicable to money laundering, including the Bank Secrecy Act (BSA), The USA PATRIOT Act. 
  • OFAC Sanctions regulatory knowledge Understanding of the Global Money Remittances Industry as it relates to anti-money laundering, terrorist financing and fraud typologies.
  • Proficiency in Microsoft Excel, Word, PowerPoint, and Outlook and/or experience in using other database applications
  • Bachelor’s degree.
  • Strong ethical commitment.

 

 

SF: LI-LS1

LI # HYBRID NYC

 

 

Salary range: $72,500-$107,500 

Overtime eligible: Exempt 

Discretionary bonus eligible: Yes 

Sales bonus eligible: No 

 

Click here to learn more about our benefits. Starting salary is dependent upon several factors including previous work experience, specific industry experience, and/or skills required.

 

 

Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

Job Requisition ID: 87813

 

 

 


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Nearest Secondary Market: New York City

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