About the position
Oppenheimer & Co. Inc. is seeking a KYC Team Lead/Supervisor to join our Compliance Team in our New York office. This role is pivotal in ensuring that our KYC processes are robust and compliant with regulatory standards. The KYC Team Lead/Supervisor will supervise and support a team of 3-6 KYC Officers, guiding them in their daily duties and ensuring that all foreign and high-risk accounts undergo thorough reviews during onboarding and periodic checks. The position requires a strong focus on quality control, as the supervisor will perform second reviews and quality assessments of the KYC officers' work, ensuring adherence to best practices and regulatory requirements. In addition to supervisory responsibilities, the KYC Team Lead/Supervisor will conduct targeted training and professional development for team members, enhancing their skills and knowledge in KYC processes. The role also involves assisting with user-acceptance testing and technological improvements related to KYC, ensuring that the team is equipped with the best tools for their tasks. The supervisor will compile and present key performance indicators (KPIs) and monthly metrics to senior management, providing insights into the team's performance and areas for improvement. The KYC Team Lead/Supervisor will act as the first point of escalation for negative news, political exposure, and sanctions, liaising with the business daily to ensure smooth KYC processing. This role requires providing guidance on complex KYC matters to both the Business and AML team members, ensuring that all regulatory obligations are met. The supervisor will also complete reports that serve as additional controls to ensure compliance with the Bank Secrecy Act, USA Patriot Act, and OFAC regulations. Furthermore, the supervisor will participate in new hire interviews and train junior team members, fostering a culture of compliance and continuous improvement within the team.
Responsibilities
- Supervise and support a team of 3-6 KYC Officers in their daily duties
- Perform second review/4-eyed checks on all foreign and high-risk accounts during both onboarding and periodic/event driven reviews
- Perform quality control reviews of a sample of each assigned KYC officer's monthly work
- Conduct targeted training and professional development for assigned team members
- Assist with User-acceptance testing and technological improvements as they relate to KYC
- Compile and present KPI/monthly metrics to senior management
- Update KYC processes based on changes in the regulatory environment as well as best practices
- Act as first point of escalation for negative news, political exposure, and sanctions
- Liaise with the business daily to ensure smooth KYC processing
- Provide guidance on complex KYC matters to the Business and AML team members to meet regulatory requirements
- Complete reports that act as additional controls to ensure the firm is meeting all of its regulatory obligations related to BSA, USA Patriot Act, and OFAC
- Sit in on new hire interviews and train junior team members
Requirements
- Bachelor's Degree
- Expert knowledge of reviewing KYC documentation for corporations, foreign financial institutions, trusts, PHC/PICs and complex ownership structures
- Well versed in FINCEN CDD requirements
- Ability to think critically, analyze situations, and provide an assessment to keep management informed
- The aptitude to be an agent for positive change
- Comfortable to regularly train a team of KYC officers and branch personnel
Nice-to-haves
- Certified Anti-Money Laundering Specialist (CAMS) preferred
- Bi-lingual Spanish / English is preferred
- Experience with LexisNexis and Actimize a plus
- Outside the box thinker, utilizing multiple documents/sources to meet regulatory requirements
- Works well with a team but is a self-starter, can manage individual workload, and detail oriented
- Ability to communicate effectively both over the phone and in writing
- Handle complicated, time sensitive situations and works well under pressure
- Knowledgeable of the laws applicable to money laundering, including: Bank Secrecy Act, the USA PATRIOT act, US Treasury AML guidelines, OFAC requirements
- Experience with Latin American corporate structures / complex ownership involving multiple jurisdictions
- Understanding of OFAC sanctions exposure risk in LATAM, especially Venezuela including risk mitigation by reliance on applicable general licenses
Benefits
- Discretionary bonus eligibility
