Northwestern Mutual's Enterprise AML Officer leads the Anti-Money Laundering (AML) Team in Northwestern Mutual’s Enterprise Compliance Department and is responsible for leading the development, implementation, and maintenance of the company’s AML and sanctions compliance programs.
Requirements
- Knowledge of the Bank Secrecy Act, USA Patriot Act, and related rules and regulations of FinCEN, the SEC and FINRA, federal banking regulators, and state insurance regulators, as applicable.
- FINRA Series 7 and 9/10 or 24
- In-depth understanding of AML regulations and statutes relating to risk and investment products, investment management and trust services.
- Knowledge of insurance, securities, and advisory products, services and operations.
- Demonstrated ability to design and implement systems to monitor transactions and trends to identify AML and sanctions risks.
- Demonstrated ability to use data analytics to make risk aware decisions.
- Certified Anti-Money Laundering Specialist (CAMS) designation required or obtained within 6 months of hire.
Responsibilities
- Coordinate and manage the enterprise AML policies, procedures and controls to ensure compliance by NM and its operating subsidiaries with applicable AML laws and regulations, including but not limited to Bank Secrecy Act, customer identification program (CIP), customer due diligence (CDD), OFAC sanctions and anti-terrorism funding, and other applicable laws and regulations.
- Monitor applicable laws and regulatory trends to ensure the ongoing sufficiency of the AML and sanctions compliance programs.
- Review and assess compliance testing, audit and examination findings and oversee the implementation of changes, enhancements or best practices to address them.
- Evaluate enterprise-wide AML risk and advise on the proper allocation of AML resources. Oversee the investigation and resolution of AML matters.
- Facilitate coordination of AML business and risk partners across the enterprise to ensure consistency and cooperation in assessing and addressing AML risk.
- Responsible for overseeing the monitoring of insurance and securities transaction activity, watch list screening, customer risk ranking, transaction monitoring threshold tuning, and data integrity testing to effectively identify suspicious activity and meet regulatory obligations. Implements corrective procedures and action plans to enhance controls.
- Ensure AML and sanctions-related reporting obligations are satisfied, including but not limited to suspicious activity reports (SAR), OFAC blocked property reports, and other required AML and sanctions-related regulatory reporting.
Other
- Bachelor's Degree
- Minimum of 10 years of progressively responsible work experience in securities operations and/or compliance.
- Demonstrated strong leadership, decision-making and written and verbal communication skills.
- Ability to effectively communicate requirements to, negotiate with, and influence others across departmental lines within the organization and members of field management.
- This position has been classified as a Registered Representative under NMIS guidelines and requires fingerprinting.
