What are the responsibilities and job description for the BSA/AML and Compliance Head position at Get It - Finance?
Job Overview
We are seeking an accomplished and strategic leader to take on the role of Head of BSA/AML and Compliance within our organization. This pivotal position requires close collaboration with executive leadership and the management of the compliance team, serving as the designated BSA/AML Officer. Your primary focus will involve ensuring our organization adheres to regulatory standards, including BSA, AML, CIP, OFAC, FinCEN, and the US Patriot Act.
Key Responsibilities
This role offers a unique opportunity to make a significant impact on the organization's compliance efforts and growth trajectory. You will have access to professional development through training and mentorship, enhancing your career advancement prospects.
Company Culture And Values
Our organization prides itself on fostering a supportive culture centered around trust, ownership, and collaboration, encouraging every team member to excel in their respective roles.
Compensation And Benefits
We are seeking an accomplished and strategic leader to take on the role of Head of BSA/AML and Compliance within our organization. This pivotal position requires close collaboration with executive leadership and the management of the compliance team, serving as the designated BSA/AML Officer. Your primary focus will involve ensuring our organization adheres to regulatory standards, including BSA, AML, CIP, OFAC, FinCEN, and the US Patriot Act.
Key Responsibilities
- Lead and motivate the compliance team, fostering a collaborative atmosphere that empowers each member to thrive.
- Stay current on developments in BSA/AML, OFAC regulations, and related compliance standards to uphold the organization's compliance.
- Manage compliance protocols and ensure UAR submissions and other regulatory requirements for financial institutions are fulfilled.
- Provide specialized compliance and regulatory guidance to FinTech partners, harmonizing strategies with business objectives and risk management practices.
- Collaborate with internal teams on KYC, KYBC, and Enhanced Due Diligence processes to maintain effective customer verification practices.
- Continuously analyze transaction data and reports to identify trends, evaluate risks, and detect any potential suspicious activities.
- Compile and deliver BSA/AML-related reports to senior leadership and the Board, facilitating informed decision-making.
- Develop and execute training programs to ensure that both the compliance team and broader organization remain informed on BSA compliance requirements.
- Lead risk assessments and audits to evaluate the efficiency of the compliance program and recommend improvements as necessary.
- Travel, as needed (approximately 10%-15%), to collaborate with partner institutions and support various compliance initiatives.
- Strong understanding of BSA/AML Compliance frameworks and regulatory interpretations.
- Proven leadership and team development capabilities.
- Excellent analytical skills for data analysis and risk assessment.
- Effective communication skills for reporting to senior leadership.
- Proficiency in KYC, KYBC, and Enhanced Due Diligence processes.
- A Bachelor's degree in business, accounting, finance, economics, or a related field.
- A minimum of 5 years of experience in Compliance and AML roles, with a demonstrated track record in leadership.
- Strong knowledge of regulatory frameworks and their application to business practices.
This role offers a unique opportunity to make a significant impact on the organization's compliance efforts and growth trajectory. You will have access to professional development through training and mentorship, enhancing your career advancement prospects.
Company Culture And Values
Our organization prides itself on fostering a supportive culture centered around trust, ownership, and collaboration, encouraging every team member to excel in their respective roles.
Compensation And Benefits
- Competitive base salary.
- Opportunity to collaborate with industry experts both domestically and internationally.
- Health Insurance Reimbursement Program.
- A chance to contribute meaningfully to the organization's strategic direction and compliance initiatives.
