The ongoing U.S. financial regulatory overhaul and recent compliance penalties have sharply increased the demand for seasoned anti-money laundering professionals at federal agencies and banks, say sources.
Compliance officers who have relocated to different cities or even taken a better paying position at a bank down the street often learn quickly that the one-size approach to compliance does not fit every financial institution.
After more than a year of shrinking, the anti-money laundering job market is showing signs of growth again, with large financial institutions looking to refill top slots in compliance departments.
Facing layoffs and market turmoil, some former and current anti-money laundering officers are turning to the one place they believe will offer them stable income and job security: the United States government.
The U.S. Treasury's Financial Crimes Enforcement Network has named former Citigroup executive Peter Goodyear as the head of its Bank Secrecy Act data analysis unit.
As more and more financial institutions rocked by the deepening mortgage crisis announce painful job cuts, anti-money laundering compliance officers must take quick action to protect their departments, compliance consultants say.
William J. Fox, who has led the U.S. Financial Crimes Enforcement Network as director for the last 25 months, announced his resignation today to join Bank of Americas Compliance Risk Management Division.
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