Assistant Vice President, Compliance, Legal and RiskApply Job ID: R-008082 Date posted: 12/10/2019 Primary Location SC-Fort Mill
LPL Financial is seeking an Assistant Vice President – AML Quality Control (QC) and Program Management within the Financial Crimes Compliance (FCC) department, which is a part of LPL’s Compliance, Legal & Risk (CLR) organization. This position will be part of the LPL team established to oversee the firm’s compliance with the requirements of the Bank Secrecy Act and financial sanctions, and rules and guidance from the SEC, OCC, FINRA, FinCEN, and OFAC.
The Assistant Vice President – AML Program Management and QC reports to the Executive Vice President and Chief Anti-Money Laundering (AML) Officer and is responsible for providing AML Program Management oversight for LPL Financial and its affiliate, PTC, a trust company. The AVP is also responsible for executing the Quality Control program with respect to AML, Fraud, and the Office of Foreign Assets Control (OFAC) processes to ensure firm-wide compliance with the BSA and the USA Patriot Act, OFAC and other guidance as published by the SEC, FINRA, FinCEN, the OCC and other regulatory bodies. In addition, the AVP will assist the team with special project work related to financial crimes compliance.
- Quality Control Testing and Reporting
- Lead QC team to ensure all testing is completed accurately and reports are delivered to respective teams by deadline
- Work with relevant team managers to identify training opportunities and other remedial measures where appropriate
- Identify and build new, effective quality control tests for upstream/downstream processes outside of FCC that have an AML impact
Talent & Organizational Management:
- Responsible for hiring, developing, retaining, and leading staff of Quality Control and Quality Assurance analysts
- Conduct direct staff meetings, broader team meetings, and one on one direct and skip level meetings utilizing technology resources and multi-location platforms.
- Responsible for developing and communicating strategic and operational goal setting and conducting employee evaluations.
- Provide organizational strategy consultation to Chief AML Officer to identify talent, structure, and program changes, as needed.
- Examination and Audit Coordination; Findings and Issues Tracking (FIT) Testing
- Coordinate with Exam Management team within Compliance regarding departmental responses to examination and audit requests
- Track all open remedial items and work with business partners to ensure deadlines are met; regular communication with Enterprise Risk Management (ERM) team to ensure on track
- Test audit items for completion and coordinate efforts with ERM as the second line of defense to confirm proper determination that items have been completed
- Timely report departmental metrics and management reporting for use by senior leadership
- Serve on governance committees and other working groups as a representative of the FCC team
- Create and review content for presentations made to senior leadership by Chief AML Officer
- Support Chief AML Officer on initiatives and special projects as needed
- Minimum 1-5 years of Financial Crimes Compliance and/or testing experience preferred
- Knowledge of the Brokerage Industry preferred
- Experience with leading teams and talent development
- Bachelor’s Degree and/or post graduate experience preferred
- Working knowledge of Anti-Money Laundering rules and regulations
- High level of analytical and problem-solving skills
- Strong PC skills (Microsoft Office with emphasis on PowerPoint and Excel)
- Strong judgment and excellent written skills with the ability to present information in differing degrees of details and form depending on the audience
- Comfortable engaging with all levels of management
- Strong critical thinking and decision making skills
- Attention to detail and quality assurance
- Proven ability to build strong partnerships with colleagues, desire to learn quickly, be flexible and think strategically
- Ability to multi-task, prioritize, problem solve, trouble shoot and follow-up independently
- Must work well under competing deadlines and possess strong organizational skills
Other (Preferred but not required):
- Six Sigma Green Belt
About LPL Financial:
LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker/dealer*. We serve independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions. LPL and its affiliates have more than 3,700 employees with primary offices in Boston, Charlotte, and San Diego.
If you join LPL, you will join a culture that believes in delivering a world-class client experience and looks to all employees to contribute to that goal by sharing their creativity, experience, and passion for continuous improvement. As a destination of choice, our top priorities are growth and development, social responsibility, and financial health for our employees.
We offer competitive compensation and industry leading benefits, including a wellness facility with onsite fitness classes, healthy meal choices, and a walk-in clinic. We support employee financial health through a 401k match, ESPP, and employee discounts. Work/life balance is our foundation and is supported through paid holidays, and paid time off (including time to volunteer). We foster a diverse work environment through Employee Resource Groups and diverse strategic partnerships.
Join the LPL team and help us make a difference by turning life’s aspirations into financial realities. Please login or create an account to apply to this position. Principals only. EOE
*As reported by Financial Planning magazine, June 1996-2017, based on total revenue.