Manager, AML Investigations

Your Opportunity

At Schwab, you’re empowered to make an impact on your career. Here, innovative thought meets creative problem solving, helping us “challenge the status quo” and transform the finance industry together.

We believe in the importance of in-office collaboration and fully intend for the selected candidate for this role to work on site in the specified location.

Your Opportunity:  Money laundering is the criminal practice of filtering illegally obtained funds through one or more financial transactions so that the funds or assets are “cleaned” to look like proceeds from legal activities. It can also involve people using legally obtained funds for illicit purposes, such as terrorist financing. The position is on the Anti Money Laundering (AML) Investigations team, which investigates suspicious activity potentially related to money laundering.

AML is part of the Financial Crimes Risk Management (FCRM) and Corporate Risk Management organizations. FCRM assists across all Schwab enterprises in the assessment of Fraud, BSA/AML/Sanctions, and Conduct risk presented to our business units, and is committed to complying with all laws and regulations governing the identification and reporting of suspected money laundering activities, as well as activities prohibited by OFAC laws and regulations.  FCRM’s vision is to be the best in class in the detection and mitigation of financial crime threats to protect our clients and the Firm.

We are currently offering the opportunity for a dynamic, self-motivated and engaged AML professional to join our team as an AML Investigations Manager. The AML Investigations Manager will investigate complex suspicious activity cases from receipt of the initial referral through the filing of Suspicious Activity Reports (SARs).  The AML Investigations Manager will analyze transactional data and resolve investigation cases by researching internal client systems and other sources for possible money laundering activity or other financial crimes against CS&Co and Charles Schwab Bank.   

What you’re good at:

The AML Investigations Manager is expected to conduct thorough and proactive investigations with the goal of developing cases to successful and timely conclusions. This will include:

• Perform all of the core functions of an AML Investigator, which includes: review of escalated cases for suspicious activity; research using Schwab systems, third party systems, and open source media; maintain knowledge of AML red flags and industry trends; and demonstrate proficiency in meeting individual proficiency targets

• Summarize, in writing and verbally, investigation notes and conclusions/recommendations

• Deliver presentations to Sr. Leadership on outcomes of investigations

• Responsible for cases which include a deeper level of analysis, more complicated research, and greater exposure to lesser known products. This may include involvement in trading-related analysis, derivative investments, organizational/entity accounts, etc.

• Provide subject matter expertise and support to the AML Investigations team on research techniques, investment and banking products, systems, workload management, and process improvement initiatives

• Work collaboratively with internal partners, other financial institutions, law enforcement authorities, and regulatory bodies to investigate suspicious activity

• Operate in a leadership capacity, providing support for workload management strategies, process improvement initiatives, and partnerships with internal and external business partners

• Review and evaluate essential case elements to ensure consistent and comprehensive investigations have been satisfactorily completed. May participate in the approval of regulatory reports and narratives

• Provide support to internal and external audit teams on the gathering and analyzing of clients, accounts, and transactions. May have a role in presenting to a group of individuals involved in the oversight

• Demonstrate Schwab core values within the Financial Crimes Risk Management department

What you have

To ensure that we have fulfilled our promise of "challenging the status quo," this role has specific qualifications that successful candidates should have.

Required Qualifications

• A bachelor’s degree or equivalent work experience in the brokerage, bank, and/or AML Compliance industries

• High level working knowledge of AML/BSA policies, regulatory requirements, and trends within the brokerage and bank industries

• 2+ years of investigations experience  in AML/BSA/Fraud prevention, with the demonstrated ability to handle increasingly complex cases

• Advanced written and verbal communications skills, including the ability to deliver complex presentations to Senior Leadership and/or Officers

Preferred Qualifications

• Strong understanding of various banking and/or brokerage products

• Demonstrated history of sound decision-making skills, with the ability to operate in a leadership capacity

• Effective analytical skills and demonstrated initiative and creativity in problem solving

• Ability to work well under pressure, while remaining flexible, and staying motivated and positive in a repetitive and fast paced work environment

• Excellent PC skills including experience working with spreadsheets and database management systems

• Strong written and verbal communications skills

• FINRA Series 7 or 99 licensing

• Certified Anti-Money Laundering Specialist (CAMS) or Certified Financial Crime Specialist (CFCS) certification (Preferred)

In addition to the salary range, this role is also eligible for bonus or incentive opportunities