Summary:
Responsible for providing oversight of the new and existing Payments programs.
Qualifications:
Education: Bachelor's Degree in business or related area.
Licenses/Certifications: ACAMS, AMLCA, CFE, or similar certification preferred.
Experience: A minimum of two years of compliance experience in a financial institution, BSA/AML and/or internal audit experience. Or equivalent combination of education and experience.
Essential Functions:
A: Job Specific:
- Provides oversight review of the payments program manager processes. Assesses their adherence to BSA/AML and OFAC regulatory requirements and Servicing Agreement roles and responsibilities.
- Reviews BSA/AML-related risks associated with the onboarding and implementation of new programs, reviews program change requests and assigns program risk assessment ratings of payments access and credit card programs.
- Reviews and analyzes fact sheets, program manager documentation, and other relevant information to identify money laundering and regulatory compliance vulnerabilities and assessing the applicable risk based on that analysis.
- Reviews audit and/or examination reports to ensure compliance with policies and procedures.
- Makes recommendations to solve root causes of operational and compliance vulnerabilities.
- Monitors industry trends and emerging risk issues to identify and proactively mitigate Sutton Bank's potential AML and fraud vulnerabilities related to program manager oversight.
- Assists with implementation procedures that comply with the Bank's policies and applicable sections of the Bank Secrecy Act (BSA), USA PATRIOT Act, and sanction programs administered by OFAC.
- Works with Sutton Bank Account Managers, third-party Program Managers and advisory services to compile documentation based on program manager evaluations.
- Identifies and manages the AML and regulatory compliance risk associated with third-party payments access partners (program managers, programs, and processors).
- Assists with the onboarding and the ongoing risk management of third-party payments access partners, identifies roles and responsibilities.
- Attends and participates in Payments Risk Committee meetings.
- Assists with the resolution and tracking of audit and regulatory examination findings.
- Evaluates the Customer Identification Program (CIP) and KYC profiles related to program managers.
Knowledge/Skills/Abilities:
- The ability to communicate effectively and clearly, both in verbal and written communications, as well as, present information to groups of managers, employees, customers, etc.
- Excellent interpersonal skills.
- Strong knowledge of the business area that is being supported.
- Self-directed and motivated.
- The ability to manage multiple tasks.
- Ability to learn new software packages that are position specific.
- Ability to define problems, collect data, establish facts and draw valid conclusions. Ability to solve problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
- Working knowledge of various laws, regulations, and industry guidance relating to AML, BSA and USA Patriot Act.
Sutton Bank is an Equal Employment Opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, sexual orientation, gender identity, disability or protected veteran status.
Bachelor's degree; 2+ years in financial compliance/BSA/AML; ACAMS/AMLCA/CFE preferred; strong risk and regulatory review skills.
Key Responsibilities
- oversee payments
- assess risks
- monitor compliance
Job Details
- Category: Legal and Compliance
- Seniority: Mid Level
- Commitment: Full Time
- Workplace: Remote — Mansfield or Columbus
- Languages: English
About Sutton Bank
A financial institution providing payment services with a focus on regulatory compliance and risk management. — Industry: Finance