BSA AML OFAC Manager - Sponsor Bank (Payments)

TransPecos Banks

  • San Antonio, TX
  • Permanent
  • Full-time
  • 5 days ago
  • Apply easily
Job DescriptionJob Title: BSA AML OFAC Manager - Sponsor Bank (Payments)This position is available as an on-site assignment or remote (within the San Antonio Region).Summary:Overall responsibility for risk management and compliance with federal and state banking laws and regulations related to the Bank Secrecy Act (BSA). Responsible for management of the BSA/AML program including developing, implementing, and maintaining systems and processes to ensure ongoing compliance within the sponsor banking program.Wage Type: Salaried ExemptEssential Duties & Responsibilities:To perform this job successfully, an individual must be able to perform each of the essential duties satisfactorily. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
  • Responsible for maintaining the bank's BSA/AML Compliance Program for Sponsor Banking to ensure that the bank is in compliance with applicable laws and regulations.
  • Coordinating and assisting with responses to various independent, state, and federal regulatory BSA/AML examinations and responsible for remediation plans.
  • Maintains comprehensive BSA/AML policy/procedures and risk assessment addressing all areas of BSA/AML compliance for the line of business.
  • Oversee and configure transaction monitoring systems to detect suspicious activity, setting appropriate thresholds based on expected user behavior and risk appetiteLead the development of and/or reviews changes to procedures of various departments to ensure BSA/AML compliance issues are adequately addressed and meets with bank staff and management to advise of deficiencies and ensure that required changes are made.
  • Directs the BSA/AML compliance program to ensure there are sufficient internal controls to promote an effective control environment and prioritize focus towards areas identified as having the highest level of BSA/AML risk to the bank.
  • Serves as a decision maker in conjunction with other designated individuals on possible suspicious activity and SAR decisions and ensures SARs are properly filed and reported to the Board of Directors.
  • Regularly apprises the bank's Board of Directors and senior management of regulatory updates and ongoing compliance with BSA/AML related requirements including compliance initiatives, identified compliance deficiencies, corrective action taken, and Suspicious Activity Reports (SARs) filed.
  • Ensures BSA/AML compliance for the bank in the development and implementation of new financial products/business lines.
  • Perform due diligence on potential fintech partners, including reviewing company formation documents, ownership structures, and anti-financial crime compliance programs.
  • Participates in compliance training and continuing education to maintain proficiency with BSA/AML laws and regulations affecting the bank.
  • Prepares annual BSA/AML Board of Directors training, and reviews annual employee assignments in conjunction with HR.
  • Carries out responsibilities in a manner consistent with our values and operating principles, in accordance with policy and applicable laws, and with a commitment to continuous improvement and process excellence.
  • Any other duties as assigned.
Key Deliverables:
  • Lead the development and implementation of policies and procedures
  • Address internal and external exam and audit findings to ensure remediation and risk mitigation.
Organizational Structure:Reports to: BSA Officer w/ indirect to President, Sponsor BankingSupervises: Operations Specialist(s) or Lead(s)Qualifications:Required Knowledge/Skills:
  • Bachelor's Degree in Business or Related Field
  • 7 - 10 years' experience as a BSA Officer, preferably at a bank, and specific experience with FinTech or BaaS partnerships.
  • Ability to provide strategic guidance
  • Familiarity with AML/CFT and sanctions tools and systems.
  • Strong knowledge of BSA/AML and OFAC regulations
  • Extensive knowledge of banking operations
  • Extensive ability to read, analyze and interpret government regulations, trade journals and legal documents
  • Strong communication, interpersonal, and leadership skills
  • Must be able to respond to common inquiries from regulatory agencies, courts, and outside consultants
  • Periodic travel to home office, branch locations, and other meetings as necessary (25 - 50% travel)
Desired Knowledge/Skills:
  • BSA/AML Certification or willingness to obtain within 1 year.
Talents:
  • Strong Business & People Acumen: The position requires a strong ability to establish positive working relationships with internal peers and team members to get cooperation necessary to achieve goals
  • Strong positivity.
  • Mission driven, competitive, goal oriented, and motivated to develop themselves and others.
  • Energetic, resourceful, and appropriate work intensity to get the work done
  • Strong people acumen and relationship skills; Naturally pre-disposed to quickly establish positive personal and professional relationships.
Other:
  • Corrected vision.
  • Ability to interpret a variety of instructions furnished in written, oral, diagram or schedule form.
  • Must be able to lift to 20 pounds.
TransPecos Banks will not accept unsolicited resumes from any source other than the candidate. We will consider any candidate for whom an Agency submits an unsolicited resume, to have been referred to us by the Agency free of any charges or fees, other than those agencies we engage on a specific search. TransPecos Banks will not pay a fee for any placement resulting from the receipt of an unsolicited resume.

TransPecos Banks