Overview: The New York Fed, on behalf of the Federal Reserve System, offers correspondent banking and custody services to central banks, monetary authorities and certain international organizations to facilitate their official financial operations. The Central Bank and International Account Services (CBIAS) area of the New York Fed's Markets Group serves the U.S. dollar reserve management needs of its official international customers by offering payment, custodial, clearing and settlement, collateral management, and investment and liquidity services. With more than $3.0 trillion of custodial holdings, representing about half of global U.S. dollar-denominated foreign reserves, CBIAS offers financial services that directly support the Bank's role in international affairs, as well as monetary policy and financial stability. CBIAS currently runs a split operation with staff located in New York City and Richmond, Virginia.
Description: The Account Risk Management (ARM) Directorate is responsible for managing the Bank Secrecy Act (BSA) / anti-money laundering (AML), Office of Foreign Assets Control (OFAC) sanctions and fraud risks emerging from central bank and international organizations account relationships and account activity as the business' first line of defense. The ARM directorate is currently seeking an account transaction monitoring analyst. This analyst will be part of a dedicated team of analysts with responsibility for the administration and operation of account control and legal and reputational risk management activities, related to fraud, AML and OFAC monitoring. The team serves as the CBIAS business' first line of defense related to the management of business risks. The successful candidate will be expected to develop and draw upon a broad understanding of CBIAS' business activities, and CBIAS role within the Federal Reserve System and the international official community.
Responsibilities: Compliance Risk Management
Monitor and analyze payment activity to ensure compliance with OFAC requirements and Bank and CBIAS AML policy.
Develop and maintain customer profiles that identify key areas of activity and potential transactional risk using a variety of available tools, including analytical software and other databases, including MS Office Suite.
Monitor international geopolitical, economic, and regulatory developments that may affect customer activity and/or governance, including changes in U.S. government sanctions programs.
Develop regional geographic specialization to better understand risks presented by global customer base.
Analytical /Business Support:
Provide concise, articulate, and insightful analysis in written and verbal form on customer trends and activity related to global activity.
Proficiency in working with data to identify trends, patterns and anomalies.
Participate in initiatives geared toward technological enhancements, risk reduction and improved customer service.
Author and present briefings to senior management on relevant transaction typologies, customer or geopolitical developments, or other topics which may present undesired compliance or reputational risk to the Federal Reserve.
Analyze and manage the distribution of intelligence derived from open-source research, transaction analysis, and other sources.
Participate in analytical endeavors aimed at understanding account holder behaviors, identifying trends and reporting on customer account activity relative to developments in global markets.
Bachelor's degree in international affairs, business, economics, or a related area.
1-3 years of relevant work experience.
Previous knowledge or experience with OFAC and automated AML screening tools is helpful.
Strong oral and written communication skills and ability to succinctly present information to management.
Proven quantitative and qualitative analytical skills.
Strong organizational skills and attention to detail.
Demonstrated problem solving and decision making skills;
Strong Microsoft Excel, Access, and SharePoint experience desirable.
Strong personal and professional interest in international relations and knowledge of global affairs and current events encouraged.
Knowledge of SWIFT and/or Fedwire a plus.
Flexibility to travel between New York and Richmond, VA sites.
This position requires access to Federal Open Market Committee Data, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, U.S. permanent residents who are not yet eligible to apply for naturalization and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so.
Screening Requirement: This position has additional screening requirements due to the information accessed while performing the job. These additional screenings would be initiated at the time of offer acceptance and can take a couple of months to be completed. You can begin work before the screening is completed; however, continued employment is contingent on acceptable screening results. The screening areas such as education/employment verification, criminal history, credit history, and reaches out to your references and people that know you well.
The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.
Internal Number: 6735150
About Federal Reserve Bank of New York
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