The AML/BSA/OFAC Manager supports the firm’s financial crimes compliance program, with a focus on AML, CFT, and sanctions compliance. This role is responsible for conducting investigations, monitoring client activity, and preparing regulatory reports, while also providing support for broader program initiatives. The AML/BSA/OFAC Manager works closely with the BSA Officer to ensure compliance with internal policies and applicable regulatory requirements.
Key Responsibilities
- Review and investigate alerts generated by AML transaction monitoring and sanctions screening systems, determining appropriate disposition and escalation as needed.
- Analyze client activity, account behavior, and supporting documentation to identify potential suspicious activity or financial crime risks.
- Prepare and file Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) in accordance with regulatory requirements and timelines.
- Support the review and clearing of sanctions and other screening alerts (e.g., OFAC, PEP).
- Assist in the maintenance and enhancement of AML policies, procedures, and risk assessments.
- Escalate complex or high-risk matters to the BSA Officer, providing clear analysis and recommendations.
- Stay current with applicable AML/CFT and sanctions regulations and emerging risks, raising potential impacts to the BSA Officer.
- Contribute to internal reporting, including basic metrics, trend identification, and documentation for audits or examinations.
- Participate in AML training initiatives and support the development of internal guidance materials.
Qualifications and Skills
- Bachelor’s degree in finance, legal, criminal justice, or a related field; relevant certification (e.g., CAMS) preferred.
- 10+ years of AML, financial crimes compliance, or related experience within a financial services environment.
- Working knowledge of AML/CFT and sanctions regulatory requirements (e.g., BSA, USA PATRIOT Act, OFAC, FinCEN guidance).
- Experience with AML monitoring and case management systems (e.g., FCRM or similar tools).
- Strong analytical and investigative skills with attention to detail.
- Ability to manage multiple priorities and work both independently and collaboratively in a small team environment.
- Effective written and verbal communication skills.
- High level of integrity, professionalism, and discretion in handling sensitive information.
The base salary range for this position is $145,000 - $180,000 per year. This range reflects the minimum and maximum base salary we reasonably expect to pay for this role. In addition, this position may be eligible to participate in the relevant business unit’s incentive compensation plan, and other compensation programs as applicable. Eligible employees may participate in a 401(k) program with a generous profit-sharing contribution, medical, prescription dental, and vision coverage; life insurance; disability coverage; paid holidays; vacation; and sick time, subject to plan terms and Company policies.
About Bessemer Trust
Bessemer Trust is a family office, overseeing more than $250 billion in assets for 3,000 individuals and families of substantial wealth. Its more than 1,300 employees are singularly focused on private wealth management — disciplined investment management, sophisticated wealth planning, comprehensive family office services, and highly personalized client service.
Established in 1907 as the family office for Annie and Henry Phipps, Bessemer Trust is in its seventh generation of ownership by the Phipps family. As a self-made entrepreneur, Henry Phipps was a founding partner and chief financial officer of Carnegie Steel.
Bessemer Trust retains its original focus as a privately owned and independent wealth manager deeply committed to its mission of providing peace of mind to its clients. Bessemer’s adherence to putting clients’ interests first, fiduciary mindset, and highly collaborative culture are at the heart of everything the firm does.
Key Facts:
- For 119 years, Bessemer Trust has operated continuously in a single line of business, independently owned by one family.
- Headquartered in New York’s Rockefeller Center, Bessemer Trust has 22 offices in total. Woodbridge, NJ, is one of the firm’s largest offices, which hosts a wide range of technology and operations professionals. In addition to its sizable presence in New York and Woodbridge, the firm provides client service through offices in Atlanta, Boston, Chicago, Dallas, Delaware, Denver, Garden City, Grand Cayman, Greenwich, Houston, Los Angeles, Miami, Naples, Nevada, Palm Beach, San Diego, San Francisco, Seattle, Stuart, and Washington, D.C.
- To watch a video about Bessemer Trust’s history, click here.
- To learn more about Bessemer Trust, click here.
About Our Employee Rewards and Benefits:
We provide exceptional rewards and benefits that are among the best in the industry, giving our people access to a wide range of options, including:
- Competitive base salary plus discretionary annual bonus for select positions
- A 401(k) plan with a generous annual profit-sharing contribution
- Personalized development and career opportunities, including tuition reimbursement support
- Comprehensive medical, dental, and vision plans with zero contributions for employee coverage
- Employee assistance (EAP) and wellness programs
- Hybrid work environment: 60% in office, 40% remote for most positions
- Paid time off and paid parental leave
- Employer-paid life insurance and short- and long-term disability coverage
- Legal services and financial wellness plans at no cost to employees
Bessemer Trust is committed to creating a diverse and inclusive environment and is proud to be an equal opportunity employer. We encourage candidates of diverse backgrounds to apply.
