Itau
The Compliance Officer is responsible for performing risk and compliance reviews in coordination with the broader Anti-Money Laundering (AML) and Know Your Client (KYC) objectives of Itaú BBA USA Securities (“IUSI”), an institutional broker-dealer and FINRA member firm. The incumbent will provide AML compliance support and expertise, including the vetting of proposed and existing customers in accordance with BSA, USA Patriot ACT, OFAC as well as internal and corporate guidelines to mitigate risk.
Additionally, the Compliance Officer will assist the Chief Compliance Officer and Senior Compliance Officer with all day-to-day functions and broker-dealer compliance projects and contribute meaningfully to maintain an appropriate compliance culture throughout Itaú BBA USA Securities.
Duties & Responsibilities
· Review and verification of all new customer account files (e.g., KYC, CIP, AML, OFAC, Worldcheck, RIA certificate, maintaining updated information in files) and direct responsibility for maintaining Compliance Department Client Database.
· Update company AML policies and procedures including periodic testing for effectiveness and alignment with corporate policies.
· Oversee the process for review of transactions for suitability, accuracy, and potential suspicious activity; daily monitoring of the InfoReach system as it relates to suspicious activity and transaction monitoring.
· Monitoring legal and regulatory requirements related to the Bank Secrecy Act, Patriot Act, and OFAC regulations, and guidance from U.S. and foreign regulators.
· Handle FinCEN 314(a) requests including self-verification of all FinCEN 314a request and documentation thereof.
Assist with AML Review/investigations of account activity. Document and report case review/investigation findings and prepare case files for review (e.g. media search results, copies of statements/checks, results from internal system searches etc.). · Liaise between various business units in gathering information for standing internal committees, such as the Internal Risk Committee (“IRC”).
· Plan and assist in preparation of materials for the biannual IUSI Board Meetings.
· Ensure regulatory certifications are filed in a timely fashion. This includes Canadian AML certifications, Annual CEO Certifications, and any certifications or reporting that may be required by our regulators.
· Work with Middle Office and trade support teams for Itaú BBA USA Securities, Itaú Corretora de Valores SA, and other Itaú BBA affiliates in Latin America, Lisbon, and London in connection with client on-boarding and KYC renewal and maintenance.
· Production and distribution of the KYC Dashboard to track renewal progress of on-boarded clients.
· Ensure all new hires are properly onboarded.
· Handle employee U4 registration and U5 employee termination filings with FINRA, including any broker-dealer filing updates.
· Oversee administration of employee continuing examination requirements, including FINRA CE, Firm Element training, and other Firm-required training.
· Assist with Annual Compliance Training and ad hoc training as required by the Firm Element training program.
· Ongoing participation in response to Internal Audit requests, including maintaining audit tracking spreadsheets and requests for documentation.
· Review of daily transactions, equity, fixed income and derivative transactions including but not limited to daily trade blotter review, CAT and TRACE review, and transaction monitoring.
· Assist with the development, implementation, and dissemination of Written Supervisory Procedures.
· Handle monthly review of all employee Personal Trading accounts including cross comparison with Black/Grey list and further approval or rejection
· Assist Chief Compliance Officer and Senior Compliance Officer with other day-to-day functions and compliance projects, including shared ownership of global Compliance projects in which the Compliance department may participate.
Qualifications
3+ years of experience in reviewing customer information and performing AML or financial investigations; or equivalent securities industry experience. In-depth knowledge of U.S. securities regulations, FINRA/SEC/NFA/CFTC rules, and general regulatory compliance matters. Knowledge of the laws applicable to money laundering, terrorist financing, and other applicable financial/securities related crimes (e.g., insider trading, market manipulation), including the Bank Secrecy Act (BSA), The USA PATRIOT Act, US Treasury AML guidelines, OFAC, SEC, FINRA, FRB, FinCEN requirements, and SAR requirements. Comprehensive knowledge of AML regulations preferred Solid understanding of financial products and transactions including cross-border transactions, equities and fixed income securities, DVP/RVP, private placement, asset management, security transfers, 15a-6, etc. Series 7 and/or other FINRA registrations preferred. CAMS Certification is a plus Excellent organizational, time management and project management skills. Excellent research skills, including experience with online search tools. Desire to grow as a compliance professional and to expand knowledge base and assume ownership of additional regulatory compliance matters. Advanced proficiency in Microsoft Office Suite Superior writing, analytical and communications skills. Must be organized and able to handle multiple competing priorities and complete projects on time. Strong attention to detail and follow-up skills Driven and self-motivated; an “ownership” mindset. Must have the ability to work independently, with minimal supervision, as part of a small cross-functional team. Fluent in English; Fluency in Portuguese or Spanish is highly desirable. Knowledge of Bloomberg, InfoReach, Global Relay, StarCompliance and EDGAR is helpful.
Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
Additionally, the Compliance Officer will assist the Chief Compliance Officer and Senior Compliance Officer with all day-to-day functions and broker-dealer compliance projects and contribute meaningfully to maintain an appropriate compliance culture throughout Itaú BBA USA Securities.
Duties & Responsibilities
· Review and verification of all new customer account files (e.g., KYC, CIP, AML, OFAC, Worldcheck, RIA certificate, maintaining updated information in files) and direct responsibility for maintaining Compliance Department Client Database.
· Update company AML policies and procedures including periodic testing for effectiveness and alignment with corporate policies.
· Oversee the process for review of transactions for suitability, accuracy, and potential suspicious activity; daily monitoring of the InfoReach system as it relates to suspicious activity and transaction monitoring.
· Monitoring legal and regulatory requirements related to the Bank Secrecy Act, Patriot Act, and OFAC regulations, and guidance from U.S. and foreign regulators.
· Handle FinCEN 314(a) requests including self-verification of all FinCEN 314a request and documentation thereof.
Assist with AML Review/investigations of account activity. Document and report case review/investigation findings and prepare case files for review (e.g. media search results, copies of statements/checks, results from internal system searches etc.). · Liaise between various business units in gathering information for standing internal committees, such as the Internal Risk Committee (“IRC”).
· Plan and assist in preparation of materials for the biannual IUSI Board Meetings.
· Ensure regulatory certifications are filed in a timely fashion. This includes Canadian AML certifications, Annual CEO Certifications, and any certifications or reporting that may be required by our regulators.
· Work with Middle Office and trade support teams for Itaú BBA USA Securities, Itaú Corretora de Valores SA, and other Itaú BBA affiliates in Latin America, Lisbon, and London in connection with client on-boarding and KYC renewal and maintenance.
· Production and distribution of the KYC Dashboard to track renewal progress of on-boarded clients.
· Ensure all new hires are properly onboarded.
· Handle employee U4 registration and U5 employee termination filings with FINRA, including any broker-dealer filing updates.
· Oversee administration of employee continuing examination requirements, including FINRA CE, Firm Element training, and other Firm-required training.
· Assist with Annual Compliance Training and ad hoc training as required by the Firm Element training program.
· Ongoing participation in response to Internal Audit requests, including maintaining audit tracking spreadsheets and requests for documentation.
· Review of daily transactions, equity, fixed income and derivative transactions including but not limited to daily trade blotter review, CAT and TRACE review, and transaction monitoring.
· Assist with the development, implementation, and dissemination of Written Supervisory Procedures.
· Handle monthly review of all employee Personal Trading accounts including cross comparison with Black/Grey list and further approval or rejection
· Assist Chief Compliance Officer and Senior Compliance Officer with other day-to-day functions and compliance projects, including shared ownership of global Compliance projects in which the Compliance department may participate.
Qualifications
3+ years of experience in reviewing customer information and performing AML or financial investigations; or equivalent securities industry experience. In-depth knowledge of U.S. securities regulations, FINRA/SEC/NFA/CFTC rules, and general regulatory compliance matters. Knowledge of the laws applicable to money laundering, terrorist financing, and other applicable financial/securities related crimes (e.g., insider trading, market manipulation), including the Bank Secrecy Act (BSA), The USA PATRIOT Act, US Treasury AML guidelines, OFAC, SEC, FINRA, FRB, FinCEN requirements, and SAR requirements. Comprehensive knowledge of AML regulations preferred Solid understanding of financial products and transactions including cross-border transactions, equities and fixed income securities, DVP/RVP, private placement, asset management, security transfers, 15a-6, etc. Series 7 and/or other FINRA registrations preferred. CAMS Certification is a plus Excellent organizational, time management and project management skills. Excellent research skills, including experience with online search tools. Desire to grow as a compliance professional and to expand knowledge base and assume ownership of additional regulatory compliance matters. Advanced proficiency in Microsoft Office Suite Superior writing, analytical and communications skills. Must be organized and able to handle multiple competing priorities and complete projects on time. Strong attention to detail and follow-up skills Driven and self-motivated; an “ownership” mindset. Must have the ability to work independently, with minimal supervision, as part of a small cross-functional team. Fluent in English; Fluency in Portuguese or Spanish is highly desirable. Knowledge of Bloomberg, InfoReach, Global Relay, StarCompliance and EDGAR is helpful.
Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.