Our client is a Fintech firm based in San Fracisco, although this role can be located anywhere within the US. They are looking for a BSA Officer to join their team.
The BSA Compliance Officer will be responsible to oversee the team of analysts that complete day-to-day operations related to BSA compliance including transaction monitoring, EDD and risk assessments.
In this role, you will administer the company’s BSA Program and maintain oversight to ensure controls are adequate to properly mitigate risk, to maintain regulatory compliance, and are effective in preventing and detecting illicit financial activity.
The BSA Compliance officer is expected to remain abreast with changing regulations to ensure the integrity and adequacy of our compliance programs.
What You Will Do:
- Develop, update, and maintain internal policies and programs (BSA Program and related policies, risk assessments, etc.) for which our daily procedures are based upon.
- Develop, update, and maintain all standard operating procedures related to BSA compliance
- Design and document the company’s BSA/AML controls, identifying BSA/AML risks and requirements for new products and product features.
- Work with Legal, Compliance, Engineering and senior leadership to ensure appropriate controls are designed and implemented.
- Collaborate with Sales and Marketing teams to assess risk of potentially higher risk platforms prior to onboarding during initial sales process.
- Review and analyze applicable regulations to ensure that the company’s policies maintain compliance.
- Perform BSA/AML Risk Assessments on the company at least annually Update and maintain the company’s International Risk Assessment at least annually.
- Update and maintain risk assessments performed on clients at least annually.
- Review enhanced due diligence findings for clients and potential bank partners, assess risk posed by any third party relationships.
- Provide monthly compliance reports to senior management, the board of directors and partner banks.
- Assist with any escalated issues from daily operations that may require additional review related to policies and/or procedures.
- Monitor transaction alerts and red flags and supervise suspicious activity investigations.
- Advise on compliance monitoring and testing related to BSA/AML requirements.
- Draft management responses to external audits as appropriate (specifically BSA audits), track remediations to any findings and/or recommendations, and implement necessary changes.
- Oversee BSA/AML training for the company’s employees and Board of Directors.
- The BSA Compliance Officer will report to the VP of Legal and Compliance and will be an integral role within the company’s Compliance Team.
What You Will Bring:
- Minimum 6+ years of relevant experience in a Fintech, financial institution or regulated entity (E.g. MSB) in a senior compliance role
- Previous experience in a BSA/AML governance role with experience developing controls to detect, prevent and report suspicious activity and performing risk assessments to inform decisions regarding policies and procedures
- Previous experience managing a team of BSA/AML Analysts Working knowledge of applicable laws, regulations, and guidelines (e.g., BSA, OFAC sanctions programs, etc.
- Previous experience with UDAAP and more broad financial regulations is a plus
- Strong and effective communication + ability to interact with others
- Knack for analyzing data, ensuring a better understanding of the big picture (I.e. what is and what is not working for our customers)
- Technical knowledge is a plus (we work with a lot of developers)