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Digital Financial Crimes Compliance Officer, Vice President

State Street

State Street is a leading provider of financial services to institutional investors around the world.

Who we are looking for

The State Street Digital Financial Crimes Compliance Officer is responsible for oversight of all aspects of Financial Crimes risk management related the State Street Digital Business Unit. As State Street Digital is a new business unit for the Firm, this individual will be responsible for partnering across the First and Second Lines of Defense to developing an appropriate risk appetite framework for Digital Assets (e.g. Cryptocurrencies), design AML policies and standards and conduct the proper oversight, monitoring, testing and surveillance of the business’s compliance with the Program.

Why this role is important to us

The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role you will strive for cutting-edge solutions, that are straightforward and scalable. You will help us build resilience and execute day to day deliverables at our best. Join us if making your mark in the financial services industry from day one is a challenge you are up for.

What you will be responsible for

  • Act as a strategic advisor to the business by contributing to the strategic build out of offerings in fund administration, sub-custody and direct custody, joint ventures, partnerships and other initiatives by providing advice and guidance, understanding the relationship between business processes and financial crime risk considerations, identifying and resolving issues while supporting business success
  • Demonstrate deep knowledge of laws, regulations and guidance in the jurisdictions where digital assets are offered, providing advice and review of business unit policies and procedures
  • Partner with multiple internal stakeholders to establish, design and implement an AML ecosystem cohesive within Digital Assets and enterprise-wide solutions that supports screening, monitoring, and oversight of Vendors executing on behalf of State Street.
  • Aids in the development of an FCC risk assessment for State Street Digital Assets;
  • Help to conduct the proper oversight, monitoring, testing and surveillance of the BU’s compliance with the Program to ensure it complies with regulations, policies, procedures, and regulatory obligations. This effort will be supported by a multi-tiered approach to monitoring various BU operations across the enterprise: Ongoing Support / Collaboration; Monitoring Reports; and Surveillance and monitoring reviews.
  • Support Know Your Customer process as needed by the Business Unit and AML Operations, inclusive of approving new relationships and ensuring FCC risks are mitigated at onboarding and during periodic reviews.
  • Create management information and other reporting to the Board of Directors and senior management.
  • Act as a key player in regulatory and audit exam management; Oversee preparation and review of BU materials to be delivered, engage in meetings to discuss findings, Review and contribute to report findings and responses; overseeing successful remediation against committed timelines
  • Training -the AML Compliance Officer should identify AML / Sanctions training needs for the BU and work with Compliance Training to develop the materials, as warranted. Also help review and validate any BU developed AML training for AML Compliance. All AML and Sanctions training should be monitored for completeness and escalated to BU management as needed.

What we value

These skills will help you succeed in this role

  • Knowledge of Digital Assets and Cryptocurrencies
  • Knowledge of laws, regulations and legislative and regulatory processes
  • Ability to develop business relationships within the organization
  • Proven interpersonal and communication skills
  • Demonstrated problem solving and decision-making skills
  • Ability to work independently and adapt quickly in handling multiple/evolving tasks as a result of new engagements and/or re-prioritized deadlines
  • Ability to influence and build consensus
  • Excellent oral and written capabilities
  • Capable of producing high quality and/or final work product and solutions under strict regulatory or management deadlines

In-depth knowledge of reporting requirement promulgated by BSA and guidance contained within FFIEC manual

Education & Preferred Qualifications

  • BA or BS Degree preferred
  • 7-10 year’s experience in regulatory oversight, anti-money laundering compliance within the financial services industries
  • Prior AML and Sanctions compliance and risk management experience.
  • Prior develop of AML/Sanctions Program with strong understanding of technology & architecture

Professional certification such as CAMS, RMA, CFE, CPA, CIA, etc…

This role may require minimal travel annually to State Street locations around the globe.

Are you the right candidate? Yes!

We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don’t necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.

About State Street

What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.

Discover more at StateStreet.com/careers

COVID-19 Protocols: Complying with State Street’s COVID-19 protocols is a condition of employment. Those requirements may vary depending on circumstances and legal requirements, and may include, without limitation, a requirement to be vaccinated (or have an accommodation), to disclose vaccination status, to provide evidence of vaccination status, etc.

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Digital Financial Crimes Compliance Officer, Vice President

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Contact us

State Street

State Street is a leading provider of financial services to institutional investors around the world.

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