Regional Risk Assessment Officer - Rabobank - New York, NY

Our Organization

Rabobank Group is a global financial services leader providing wholesale and retail banking, leasing, real estate, and renewable energy project financing. Founded over a century ago, Rabobank is one of the largest and safest banks in the world, with nearly $1 trillion in assets and operations in more than 40 countries, and ranks among the highest rated private banks by Standard & Poor’s and Moody’s. Rabobank is a premier bank to the international food and agriculture industry, as well as a leading financier of solar, wind, bioenergy, and energy infrastructure projects.

In the Americas, Rabobank is present in the United States, Argentina, Brazil, Canada, Chile, Mexico, and Paraguay, providing both retail and wholesale banking services as well as real estate and leasing services. The bank’s wholesale banking products focus on these banking areas:

Lending and Credit

Trade and Commodity Finance

Acquisition Finance

Renewable Energy and Infrastructure Finance

Global Client Solutions

Mergers & Acquisitions Advisory

Food & Agribusiness Research and Advisory

Capital Markets

Your Function:
Job Overview:
Risk assessment is an area of high regulatory scrutiny and the Bank is vulnerable to adverse regulatory findings in the absence of an effective compliance risk assessment program. Moreover, without identifying the inherent and residual compliance risks the region faces, management lacks a complete view of the risks present across its current lines of business and operations.

This compliance officer is responsible for developing an industry standard compliance risk assessment program and methodology and, working with the business lines and support functions and consolidation of the North American entities.

The compliance risk assessment officer is part of Regional Compliance, which provides compliance support and advisory services to employees in all N.A. entities. The officer will have frequent interaction with employees in all N.A. entities as well as regional and global teams.

Context of Job:
North America Compliance (NAC) is responsible for US regulatory compliance and anti-money laundering controls for Rabobank’s activities in North America aligned with Rabobank Group Standards and applicable EU regulation. The prime regulators are the DNB in the Netherlands where Rabobank is headquartered, the Federal Reserve Bank of New York, the Board of Governors of the Federal Reserve System, the New York State Department of Financial Services, the CFTC, the OCC, SEC and FINRA in the U.S. and the local regulatory authorities in Canada (OSFI) and Mexico (SHCP, CNBU and Banco de Mexico).

The business Rabobank engages primarily in within the US is Wholesale Banking activities (New York Branch), Retail (Rabobank, N.A.), Rural (Rabo Agri Finance) and Leasing (De Lage Landen). Further legal entities include the New York and Canadian branches, Mexico Rep Office, Rabo Securities USA, Inc., the broker-dealer, Utrecht-America Holdings, Inc., the bank holding company, and other U.S. entities.

Key Responsibilities and Accountabilities:
Develops and implements the Compliance Risk Assessment Program.

Creates and follows an industry standard Compliance Risk Assessment Methodology suitable for the assessing compliance risk across businesses and functions.

Creates and maintains an inventory of applicable laws, rules, regulations, controls, and other inputs to the risk assessment.

Consolidates to regional and global risk aggregation based on risk assessment results the N.A entities.

Identifies and reports on weaknesses or gaps in the control environment that may require management attention and remediation, based on the risk assessment results.

Collaborates with stakeholders in compliance, business and support areas to design solutions to risk assessment related issues and to promote the use of consistent standards for risk assessment design, execution and reporting across the region.

Provides risk assessment reporting to management, regulators and others as required.

Comply with all US laws, rules and regulations, including without limitation, AML and OFAC/Sanctions requirements and the reporting of suspicious activity (and all related policies, procedures and guidelines).

Your Profile:
Key Relationships:
Regional Compliance Team

Entity Compliance Teams – RNA, NAW, DLL, RAF

Business line leadership

Support Function leadership

Rabobank Group Compliance

Information Technology (Global, Regional and Entity)

Key Performance Indicators:
Successful creation of Regional Compliance Risk Assessment Program and risk assessment methodology

Completion of entity risk assessments within agreed timeframe

Successful implementation of risk assessment tool

Effective collaboration with AML and Sanctions compliance, entity compliance teams, global compliance, entity compliance relating to risk assessment programs and risk aggregation

Delivery of comprehensive inventory of laws, rules and regulations and controls

Feedback from colleagues from within and outside of Compliance function

Demonstrating positive team culture and firm compliance culture

Core Competencies:
Able to identify challenges and independently solve them

Excellent communication skills (verbal and written)

Problem solving/analytical/decision making skills

Multi-tasking skills

Highly organized with attention to detail

Highly motivated

Job Skills and Knowledge:
Essential:
Understanding of banking and financial services, including the types of products, services, and transactions that are typical for a foreign bank branch in the U.S.;

Experience in performing compliance risk assessments;

Experience using automated systems to perform risk assessments;

Knowledge of banking and securities rules and regulations, including some BSA/AML and sanctions knowledge;

Understanding of regulatory environment impacting regulated financial services organizations in the U.S.;

Highly proficient at working independently, grasping challenges and finding and implementing solutions;

Ability to articulate thoughts clearly;

Ability to interact with all levels of employees, including senior management;

Ability to exercise sound judgement and recommend and execute solutions;

Ability to manage complex tasks and projects from inception to completion.

Development Value:
Roles within other Compliance teams – entity, global.

Qualifications:
Essential:
Bachelor’s Degree

Prior experience with performing compliance risk assessments as a compliance officer or consultant

8-10 years professional experience

Desirable:
Professional certifications including, e.g., Certified Anti-Money Laundering Specialist (“CAMS”); J.D.

We Offer:
Rabobank New York Branch offers a comprehensive benefits program that is among the finest in the industry featuring:

Medical/Dental/Vision Plans

Defined Contribution (401k) Plan with Employer Match

Paid Vacation based on position and length of service

Life and Disability Insurance

Health and Dependent Care Flexible Spending Plans

Transportation Reimbursement Incentive Plan

Educational Assistance Program

Also offering:
Portable Voluntary Benefits including Pet Insurance

Automobile and Homeowner’s Insurance

Cancer Protection Plan

Legal Insurance Plan

Optional Life and Disability Insurance

Additional Information:
Job Requirements:
Bachelor’s degree and 8-10 years of financial services compliance experience or relevant consulting experience.

Strong understanding of banking laws and regulations.

Basic understanding of securities laws and regulations.

Experience in developing and implementing effective compliance risk assessments, risk assessment methodologies, programs, procedures, and with using automated risk assessment tools.

Strong cross-cultural interpersonal, oral and written communication skills.

Strong project management skills.

Ability to manage complex projects involving multiple stakeholders effectively and independently.

Interested?

Qualified candidates who are interested in this role are encouraged to apply directly online including their resume and related documents. If you have any questions, you can email Rachel.Marshalsea@Rabobank.com