Director Financial Crime and Regulatory Risk

The role:

An important part of the bank’s risk foundation is maintaining and complying with all local regulatory requirements. It is also important to align as much as possible to Head Office strategic risk objectives.

A mandatory element of a bank’s risk foundation is maintaining a satisfactory risk-based anti-money laundering (“AML”) and sanctions compliance program tailored to the needs of the bank’s operations.

The role of the Director

Supports Branch’s regulatory compliance program to ensure that the program is running effectively and in compliance with regulations;
Provides advice and guidance to the local business units and Head Office on US laws and regulations;
Coordinates and takes a senior level of responsibility for the AML and Sanctions Compliance Program; and
Acts as a liaison with the OCC during examinations. Manage pre-examination preparation process with relevant Branch business heads.

Core Responsibilities:

Ensure robust 2nd line of defense functions of our regulatory risk/operational risk functions. This will require identification of opportunities to simplify our risk practices, provide advice and challenge the risk and control environment for NAB Americas.
Support the development, enhancement, and administration of the governance and oversight framework for Customer Due Diligence (CDD) and Sanctions Screening activities performed by CDD India, CDD Australia, and FCO Vietnam and FCO Australia teams.
Ensure alignment with applicable U.S. regulatory requirements, Head Office Risk frameworks, and Global Risk Standards. Strengthen the Regulatory Compliance framework through ongoing improvements, stakeholder collaboration, and effective governance practices, while enhancing program effectiveness and maintaining a strong focus on regulatory examination readiness.
Maintain knowledge of AML/sanctions laws and regulations governing the operations of NAB Americas, and design and modify existing controls as necessary to ensure compliance.
Represent NAB Americas at various Group forums, attend vendor sponsored events, remain on top of industry developments, local and international regulatory changes.
Develop the regulatory and operational risk capabilities of less experienced colleagues.

Deliverables defining success:

Effective oversight and product development.
Improved process improvements.
Adherence to OFAC & AML procedural commitments and controls.
Engage with Head Office sharing industry insight, best practices, and explore efficiency gains.

Performance plan:

Annual independent and regulatory reviews will measure success relative to procedural commitments and controls.
Review of processes and alignment with Head Office.
Peer and internal stakeholder feedback.
Assessed on Core Responsibilities (see above).

Financial accountability:

Vendor management - cost/benefit analysis.