Job Description
Who We Are: Oppenheimer & Co. Inc. ("Oppenheimer") is a leading middle-market investment bank and full service broker-dealer. With roots tracing back to 1881, the Company is engaged in a broad range of activities in the financial services industry, including retail securities brokerage, institutional sales and trading, investment banking (both corporate and public finance), equity & fixed income research, market making, trust services and investment advisory and asset management services.
Job Description Oppenheimer & Co. Inc.'s AML (Anti-Money Laundering) unit of the Compliance Department is offering a prime opportunity for a candidate seeking to broaden their AML capabilities and play an integral role in working to detect and investigate potential money laundering, prevent terrorist-financing, and ensure the firm is performing its requisite due diligence duties in accordance with the multitude of pertinent sanctions, laws, regulations, rules, and recommendations issued by regulators and authorities at all levels of the financial services industry.
This position on the Screening Team, within the KYC Group (Know Your Client), is open both to entry-level candidates looking to enter the field and also to experienced AML personnel bringing knowledge and skills to supplement our team.
Oppenheimer's AML Group is an exciting place to work and offers an opportunity to work in a fast-paced environment where your work has an impact on the operations of the Firm. The Firm culture facilitates a collegial work/life balance where good work is recognized with the chance for advancement within the Company.
Responsibilities: - Review alerts to determine false positives/positive matches for negative news, PEP (politically-exposed persons), sanctions, and internal watch-lists. Evaluate whether the alert is a false positive or a positive match.
- Research clients and negative news subjects to obtain additional information to supplement alert dispositions.
- Escalate positives matches to AML Management for review and action.
- Evaluate CIP Reports and escalate issues with automated client verification to KYC Officers for manual verification.
- Coordinate escalations and investigations between the Screening Team and other KYC teams, the Transaction Monitoring unit, and the Branches/business arms.
- Assist AML with other due diligence obligations as needed.
Requirements: - Bachelor's Degree
- Understanding/familiarity with AML core functions and obligations
- Ability to learn quickly and manage a variety of tasks and deadlines
- Ability to think critically, analyze situations, and provide an assessment to keep management informed
Qualifications: - Entry-level experience in AML Compliance working in a financial institution (either bank or broker-dealer) a plus
- Knowledge of financial industry fundamentals a plus
- Functional understanding of Microsoft Excel preferred
- Experience with RDC, LexisNexis, and Actimize a plus
- Strong organizational skills
- Outside the box thinker, utilizing multiple documents/sources to clear alerts
- Works well with a team but is a self-starter, can manage individual workload, and highly detail-oriented down to individual letters in text
- Adaptable to change as rules and regulations are always changing as well as internal policy and procedure
- Knowledgeable of the laws applicable to money laundering, including: Bank Secrecy Act, the USA PATRIOT act, US Treasury AML guidelines, OFAC requirements
- Certified Anti-Money Laundering Specialist (CAMS) a plus
Compensation: For job postings in New York City, Oppenheimer is required by law to include a reasonable estimate of the salary range for this role. This salary range is specific to the City of New York and takes into account the wide range of factors that are considered in making salary decisions including but not limited to your skills, qualifications, experience, licensure and certifications, and other business and organizational needs. A reasonable estimate of the current base salary range is $55,000.00 - $65,000.00 at the time of this posting. Also, certain positions are eligible for additional forms of compensation such as discretionary bonus.
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