Job Description
Anti-Money Laundering Compliance Officer (AMLCO)
Location: New York, NY
Type: Full-time
Department: Compliance
The company is committed to maintaining the highest standards of regulatory compliance while delivering exceptional execution services to our clients.
Position Overview
Company is seeking a highly skilled and experienced Anti-Money Laundering Compliance Officer (AMLCO) to lead our AML compliance program. The AMLCO will be responsible for developing, implementing, and maintaining an effective AML/CTF compliance program tailored to our unique business model as a low-latency trading broker-dealer. The ideal candidate will have extensive knowledge of broker-dealer operations, high-frequency trading environments, and a strong understanding of AML regulations including the Bank Secrecy Act (BSA) and USA PATRIOT Act.
Key Responsibilities
Leadership and Oversight
- Lead and manage the AML team, ensuring effective implementation and monitoring of AML/CFT requirements, including KYC procedures for clients and contractors
- Develop, implement, and maintain the company's AML policies and procedures tailored to our specific business risks in the high-frequency trading environment
- Serve as the primary point of contact with regulatory authorities including FINRA, SEC, and FinCEN on AML matters
- Report directly to senior management and the Board on AML matters, including risk assessments and compliance status
- Ensure sufficient resources, including staffing and technology, to support an effective AML program
Monitoring and Compliance
- Supervise the monitoring of clients' transactions for compliance with AML regulations, with particular focus on the unique risks of high-frequency trading and direct market access
- Ensure full compliance with SEC's Market Access Rule (15c3-5), which requires risk management controls and supervisory procedures
- Design and implement transaction monitoring systems specific to broker-dealer operations and low-latency trading environments
- Regularly review and update AML policies and procedures to align with regulatory changes and emerging typologies in capital markets
- Oversee compliance with record-keeping requirements related to AML activities
Risk Management
- Conduct comprehensive risk assessments of the firm's AML program, including customer, product, and geographic risks
- Develop and maintain effective risk-based customer due diligence (CDD) procedures
- Implement enhanced due diligence procedures for high-risk customers and transactions
- Identify and address potential AML risks specific to high-speed electronic trading platforms
- Monitor for emerging risks related to done-away trades and closed position mirror trading
Training and Reporting
- Develop and conduct comprehensive AML training programs for all employees, including specialized training for trading and operations staff
- Ensure timely and accurate filing of Suspicious Activity Reports (SARs) with appropriate details and narratives
- Prepare periodic reports for management on the status and effectiveness of the AML program
- Stay current with regulatory developments and industry trends in AML compliance
- Coordinate annual independent testing of the AML program
Qualifications
Education and Certification
- Bachelor's degree in Finance, Law, Business Administration, or related field; advanced degree preferred
- CAMS (Certified Anti-Money Laundering Specialist) certification required
- Additional certifications such as CFE (Certified Fraud Examiner) or ACAMS Advanced Certifications highly desirable
Experience
- Minimum of 7-10 years of experience in financial compliance, with at least 5 years in AML compliance for broker-dealers
- Proven experience implementing and managing AML programs within electronic trading or high-frequency trading environments
- Experience with SEC Market Access Rule (15c3-5) compliance and broker-dealer regulatory requirements
- Knowledge of transaction monitoring systems and data analytics tools for AML purposes
- Experience interacting with regulatory bodies including FINRA and SEC
Skills
- In-depth knowledge of BSA/AML regulations and FINRA Rule 3310 requirements
- Strong understanding of broker-dealer operations and securities trading mechanisms
- Excellent analytical skills with ability to identify suspicious patterns in complex trading activities
- Superior written and verbal communication skills
- Leadership skills with ability to manage a team and effectively communicate with senior management
- Strong project management and organizational skills
- Proficiency with AML compliance tools and transaction monitoring software
Compensation and Benefits
- Competitive salary range: $100,000 - $150,000 annually, depending on experience and qualifications
- Performance-based bonus opportunities
- Comprehensive health, dental, and vision insurance
- 401(k) with company match
- Professional development and continuing education allowance
- Paid time off and company holidays
Job Tags
Holiday work, Full time, For contractors,