Anti-Money Laundering EDD & Monitoring Senior Associate

Anti-Money Laundering EDD & Monitoring Senior Associate

BBVA Global Wealth Advisors, an SEC-registered investment adviser, is seeking a motivated and detail-oriented AML EDD & Monitoring Senior Associate to join our growing Compliance Team. This role is responsible for executing and enhancing our Regulatory Compliance Program, including Anti-Money Laundering (AML) and financial crime prevention program. You'll play a key role in protecting the firm from illicit activities while ensuring strict adherence to all applicable laws and SEC regulations.

The ideal candidate brings strong investigative, analytical, and regulatory experience, with the ability to translate complex risks into actionable controls and deliver high-quality results in a fast-paced environment.

Key Responsibilities

As a AML EDD & Monitoring Senior Associate, you'll be on the front lines of our financial crime defense, with a diverse range of responsibilities that include :

• EDDs / Risk Assessments :
• Conduct initial and ongoing Enhanced Due Diligence (EDD) reviews in higher-risk clients, including PEPs, foreign clients, complex ownership structures, source of wealth verification, and adverse media, documenting conclusions in a clear, concise, and factual manner.
• Assess customer risk profiles determined by the firm’s risk-based methodology and maintain accurate, up-to-date risk ratings.
• Identify potential risks, escalate concerns, and propose effective operational improvements to help ensure that operation controls are in place for all key processes and that any control weaknesses are appropriately addressed and escalated.
• Account Periodic Reviews :
• Performing periodic, risk-based reviews of client accounts across all client risk tiers, ensuring ongoing compliance with AML & KYC standards. This includes verifying client information, updating beneficial ownership details, and re-assessing client risk profiles in accordance with firm policy.
• Revalidate client information, transactional behavior, and adverse findings, and take actions accordingly, as dictated by AML Policies and Procedures.
• Document conclusions in a clear, concise, and factual manner.
• Transaction Monitoring & Investigations :
• Analyzing transactional data for unusual patterns, red flags, and suspicious activities that may indicate money laundering, terrorist financing, or other financial crimes.
• Collaborate with operation and commercial teams to understand the transactional context and escalate matter when appropriate.
• Conduct timely investigations into potentially suspicious behavior, gather supporting documentation, and prepare well-supported recommendations to escalate activity, as needed.
• Watchlists & Screening Oversight :
• Manage the internal list name screening process, playing a key role in quality assurance and ensuring the process effectiveness.
• Oversee the accuracy, completeness, and regular updates of internal watchlists, including lists of high-risk individuals, entities, and jurisdictions. Collaborating with various departments to ensure timely inclusion or removal of names.
• Work with internal and external stakeholders to ensure system accuracy and proper calibration to reduce false positives and maintain industry standards.
• AML Policies, Procedures, Control Enhancement :
• Assist in the drafting, review, and transposition of Compliance policies, procedures, and controls to ensure they are current, comprehensive, and effectively mitigate identified risks.
• Translate applicable regulatory requirements into actionable internal guidance.
• Support internal and external audits, regulatory examinations, and remediation plans, as applicable.
• Special Projects :
• Participate in and lead various special projects aimed at enhancing our AML Compliance program, such as system implementations, new product risk assessments, training initiatives, and internal audit responses.
• Ad Hoc Requests :
• Responding promptly and accurately to various ad hoc requests from internal stakeholders (e.g., front office, operations, legal) and external parties (e.g., auditors, regulators) related to Compliance as required by business needs.
• Compliance Cross-Functional Collaboration - this role may have exposure to cross functional collaboration, including but not limited to :
• Administer the systems used by the GWA Compliance program, especially those used for AML.
• Assist with the GWA AML Compliance and general Compliance testing program, ensuring compliance with SEC regulations, GWA internal policies, and Holding level requirements.
• Develop and deliver targeted training as required by the Compliance team initiatives.

Qualifications

The ideal candidate will have a basic foundation in Regulatory Compliance, demonstrated by :