Principal Risk Compliance Testing Associate - Anti-Money Laundering and Sanctions

Capital One
New York, New York, United States
Nov 16, 2022
Dec 15, 2022
Full Time
NYC 299 Park Avenue (22957), United States of America, New York, New York

Principal Risk Compliance Testing Associate - Anti-Money Laundering and Sanctions

Title: Principal RiskCompliance Testing Associate - Anti-Money Laundering and Sanctions

Level: Principal Associate

Job Description:

The Anti-money Laundering (AML) Requirements and Controls team is seeking an experienced Principal Associate who will be responsible for executing risk-based compliance testing. The associate will be responsible for executing risk-based compliance testing under the leadership of a team leader, including independently validating control design and operating effectiveness and facilitating adherence to applicable Laws, Regulations, and Guidance. In this high exposure role, the Principal Associate will mentor associates, work with senior management, and test compliance and technology controls that support compliance with AML across our enterprise. In addition, the role will work on innovative process improvements.

The role involves testing controls across our Enterprise related to AML or Sanctions requirements.

Responsibilities will include (but may not be limited to):
  • Under the leadership of the Senior Manager, executing control testing for AML and Sanctions related requirements.
  • Manage testing schedules to ensure all tasks and reporting are completed within established timeframes.
  • Analyze data from multiple sources and systematically document the work and results. This analysis includes using data analytics and dashboard reporting to monitor the effectiveness of AML controls across multiple lines of business.
  • Use critical and creative thinking skills to identify improvement opportunities, root causes, and provide recommendations that drive value.
  • Review testing documentation executed by peers for accuracy and adherence to test procedures.
  • Prepares well documented work papers.
  • Establish and maintain strong relationships with Compliance Advisors and Business Areas as needed.
  • Assist in communicating results to management and Compliance Officers, as needed. This includes oral and written presentations to management during and at the conclusion of testing, discussing noted deficiencies and recommending corrective action.
  • Track testing results for ongoing analysis and process improvement.
  • Assist management in the development of the planned activities.
  • Lead initiatives and other process improvement activities.
  • Update the AML regulatory applicability and control data in the system of record.
  • Travel: Occasional travel is possible (~10-15%) to COF sites.

Basic Qualifications:
  • High School Diploma or GED
  • At least 3 years of experience in Anti-Money Laundering (AML) compliance, compliance testing/risk management, or at least 3 years of experience in financial services.

Preferred Qualifications:
  • 5 years of financial services AML compliance monitoring experience
  • 5 years of AML compliance auditing experience or a related field.
  • 5 years of data analytics experience or a related field (i.e., test SQL, SAS).
  • Bachelor's degree

At this time, Capital One will not sponsor a new applicant for employment authorization for this position

The minimum and maximum full-time annual salaries for this role are listed below, by location. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Capital One is willing to pay at the time of this posting. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.

Location is New York City

- $114,766 and $135,398 for Compliance Tester III

Candidates hired to work in other locations will be subject to the pay range associated with that location, and the actual annualized salary amount offered to any candidate at the time of hire will be reflected solely in the candidate's offer letter.

No agencies please. Capital One is an Equal Opportunity Employer committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to sex, race, color, age, national origin, religion, physical and mental disability, genetic information, marital status, sexual orientation, gender identity/assignment, citizenship, pregnancy or maternity, protected veteran status, or any other status prohibited by applicable national, federal, state or local law. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York City's Fair Chance Act; Philadelphia's Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries.

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Capital One Financial is made up of several different entities. Please note that any position posted in Canada is for Capital One Canada, any position posted in the United Kingdom is for Capital One Europe and any position posted in the Philippines is for Capital One Philippines Service Corp. (COPSSC).