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Capital One Seeks AML Supervisor to Fortify Enhanced Due Diligence Team
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Capital One is actively recruiting an Anti-Money Laundering (AML) Supervisor to join its Enhanced Due Diligence Team. This pivotal role, classified as AML Investigator II, entails supervising various AML processes, ensuring strict compliance, and effectively mitigating financial crime risks. The triumphant candidate will be instrumental in upholding the integrity of Capital One’s financial operations. The AML Investigator II will oversee processes including suspicious activity investigations, currency transaction reporting, global sanctions screening, and enhanced due diligence. This individual will work closely with AML Process Managers to execute critical functions and manage the workflow of AML analysis.
Overview of the AML Supervisor Role
The AML Investigator II will be responsible for supervising processes that include suspicious activity investigations, currency transaction reporting, global sanctions screening, and enhanced due diligence. This individual will collaborate closely with AML Process Managers to execute critical functions and manage the workflow of AML analysis.
Responsibilities and Duties
The AML Supervisor’s responsibilities extend beyond routine investigations. the role encompasses operational management, training, and quality assurance, ensuring the team operates efficiently and effectively. Key duties include:
- Supervising daily workflow and operational metrics of the AML operations team.
- Providing daily supervision to a small central unit of Investigators.
- Assisting with training in Regulatory Operations and business areas.
- Contributing to internal AML Operations projects related to policy and procedure modifications.
- Assessing new business acquisitions to determine workflow into AML Operations units.
- Performing quality assurance on draft suspicious Activity Reports, sanctions reviews, CTR’s, and EDD reviews.
- Handling escalated issues for advanced inquiry and analysis.
- Assessing internal trends and the external regulatory environment to recommend risk area understanding and typology adjustments.
Qualifications and Experience
Candidates interested in the AML Supervisor position should possess a combination of education, experience, and relevant certifications. The basic qualifications include:
- High School Diploma, GED, or equivalent certification.
- At least 2 years of AML (anti-Money Laundering) experience within financial services.
- At least 1 year of people management experience.
Preferred qualifications include:
- 4 years of AML (Anti-Money Laundering) experience within financial services.
- 2 years of people management experience.
- Certified Anti-Money Laundering Specialist (CAMS) certification, Certified protection Professional (CPP) certification, or Certified Fraud Examiner (CFE) certification.
Salary and Location Data
The salary for the AML Sr.Investigator II position varies based on location. The salary ranges are as follows:
- Chicago, IL: $86,000 – $98,200
- McLean, VA: $94,600 – $107,900
- Melville, NY: $103,200 – $117,800
- New Orleans, LA: $86,000 – $98,200
- New York, NY: $103,200 – $117,800
- Plano, TX: $86,000 – $98,200
- Richmond, VA: $86,000 – $98,200
- Wilmington, DE: $86,000 – $98,200
In addition to the base salary, the role is eligible for performance-based incentive compensation, including cash bonuses and/or long-term incentives (LTI). Capital One also offers an extensive set of health, financial, and other benefits.
Capital One’s Commitment
Capital One is committed to diversity and inclusion in the workplace and is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to various protected characteristics. Capital One also promotes a drug-free workplace and will consider qualified applicants with criminal histories in a manner consistent with applicable laws.
Capital One emphasizes its dedication to providing reasonable accommodations during the recruiting process. Individuals requiring assistance can contact Capital One Recruiting at 1-800-304-9102 or via email at [email protected].
Capital One’s AML supervisor Role: Unpacking the Crucial Fight Against Financial Crime
The financial services industry loses billions annually to money laundering,highlighting the soaring demand for skilled Anti-money laundering (AML) professionals. Capital one’s recent job posting underscores the critical need for expertise in this field.
The AML Supervisor role at Capital One is not just another compliance position; it’s a frontline defence against refined financial crimes. Enhanced due diligence (EDD) is crucial as it goes beyond basic customer verification. It involves a more thorough inquiry of high-risk customers or transactions to identify and mitigate potential money laundering or terrorist financing risks. This role directly impacts Capital One’s ability to comply with stringent regulatory requirements like the Bank Secrecy Act (BSA) and its associated regulations, including the USA PATRIOT Act. Failure to maintain robust AML compliance can result in hefty fines, reputational damage, and even criminal prosecution. So, the meaning of this senior role cannot be overstated.
The Evolving Landscape of AML Supervision
The job description mentions supervising suspicious activity investigations, currency transaction reporting (CTR), global sanctions screening, and EDD. These elements work together to form a thorough AML strategy.
These processes are interconnected cogs in a sophisticated machine designed to prevent and detect financial crimes.Let’s look at it step by step:
Capital One’s AML Supervisor Role: A Critical Defense Against Modern financial Crime
Billions are lost annually to money laundering in the financial services industry. Is Capital One’s new AML Supervisor role truly a frontline defense against increasingly complex financial crimes?
Interviewer: Dr. Anya Sharma, a leading expert in Anti-Money Laundering (AML) compliance and financial crime prevention, welcome to World Today News. Capital One’s recent job posting for an AML Supervisor has sparked interest. can you shed light on the crucial role AML supervisors play in today’s financial landscape?
Dr. Sharma: Thank you for having me. The AML Supervisor role is indeed critical. It’s no longer enough to simply comply with regulations; organizations must proactively detect and prevent financial crimes. This role isn’t just about paperwork; it’s about safeguarding the integrity of the financial system and protecting institutions from significant reputational and financial damage. This position directly addresses the growing sophistication of financial criminals.
Interviewer: The job description emphasizes Enhanced Due Diligence (EDD). Can you explain its importance in the context of AML compliance, and its relation to other processes like suspicious activity investigations and currency transaction reporting (CTR)?
dr. Sharma: Absolutely. Enhanced Due Diligence goes significantly beyond basic customer verification. It involves a more thorough investigation of high-risk customers or transactions, including comprehensive background checks and scrutiny of financial flows. this is vital because customary methods are often insufficient to detect complex money laundering schemes. EDD is a core component of a robust AML program, working collaboratively with other vital parts, like suspicious activity investigations and CTRs.Suspicious activity investigations analyze potential violations—flagged by EDD, CTRs, or other means—and CTRs, mandated by regulations like the Bank Secrecy Act (BSA) in the U.S.,require reporting of certain transactions.All these work together to form a comprehensive AML strategy.
Interviewer: The role includes supervising a team and contributing to internal AML operations projects.What skills and qualities define a successful AML supervisor in this increasingly complex field?
Dr. Sharma: Supervisors must possess a strong understanding of AML regulations and best practices. They need proficiency in financial analysis, investigative techniques, and risk assessment. Equally crucial are leadership,communication,and teamwork skills—they need to mentor and guide their team effectively. For the success of an AML program, collaboration across different teams is paramount and requires strong communication and interpersonal skills. These professionals must be adaptable and capable of staying ahead of evolving money laundering techniques. Analytical thinking to spot patterns and anomalies, meticulous attention to detail, and extraordinary written communication to effectively document findings are all critical qualities.
Interviewer: Capital One lists specific certifications such as the Certified Anti-Money Laundering Specialist (CAMS), Certified Protection Professional (CPP), and Certified fraud examiner (CFE) as preferred qualifications. How vital are these certifications in today’s market?
Dr. Sharma: These certifications demonstrate a commitment to professional development and expertise within the field. While not always mandatory, they often signify a more in-depth understanding of AML and related financial crime concerns.These certifications significantly enhance employability and demonstrate a candidate’s seriousness about their chosen profession. Holding certifications like CAMS, CPP, or CFE showcases commitment to continuous learning, crucial in AML where regulations and techniques regularly evolve.
Interviewer: The job posting mentions specific salary ranges depending on location. how does compensation for AML roles compare to other roles within the financial industry?
Dr. Sharma: The demand for qualified AML professionals is high, leading to competitive salaries. Compensation for AML roles frequently enough reflects the critical nature of the work and the expertise required.Salary will depend on experience, location, and the specific requirements of the job, but, in general, it tends to be very competitive across the industry. The high demand signals the financial industry’s understanding and commitment to investing in strong AML compliance programs.
Interviewer: Any final thoughts for aspiring AML professionals considering such a role at an association like Capital One?
Dr. Sharma: The AML field offers incredibly rewarding and impactful careers. It is indeed a field where you can make a significant contribution directly impacting societal well-being, fighting financial crime, and ensuring the integrity of financial systems. It’s essential to cultivate a continuous learning mindset to remain updated in this dynamic environment. Stay curious and engaged with new laws, techniques, and technologies. The fight against financial crime is ongoing, and professionals in this area play an indispensable role.
Interviewer: dr.Sharma, thank you for your insightful perspective. This has been invaluable information. Readers, we encourage you to share your thoughts and experiences in the comments below!
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