VP Payments Compliance (Remote)

Job Location US-DE-Wilmington
Type
Regular Full-Time

Overview

Location: 

***This is a remote position and can be located anywhere in the U.S.A.***

 

The Bancorp is looking for an innovative thought leader in the banking and fintech space who can manage and execute against The Bancorp's strategic position as an industry leader in the payments, sponsor bank, and fintech marketplace.

This individual would work with and collaborate with a large globally dispersed support team and key stakeholders outside the organization.  The VP, Payments Compliance will interact with a broad spectrum of business partners ranging from Challenger banks, Fintech firms, Cards Networks (VISA, Mastercard), and payment industry leaders to advise on the development, execution, and operation of innovative products and services. Responsibilities include liaising with regulatory agencies and presenting the Bank's achievements during regular reviews, periodic visitations, or audit meetings. We are looking for a dynamic team member with proven experience in AML and Sanctions Compliance in the payments space.

Responsibilities

Essential Functions:

  1. Develops close working relationships with business leaders and other stakeholders to advance a culture of compliance within the organization.
  2. Prepares reports to be used by various oversight and governance committees to understand BSA risk and other related activities and trends.
  3. Assist with drafting, updating, maintaining AML and Sanctions policies, programs, and procedures.
  4. Coordinate regulatory exams and independent audits.
  5. Implement and maintain processes to ensure the Bank, program managers, processors, and other agents comply with Federal, State and network rules and regulations and Bank policies/procedures.
  6. Ensure that all BSA/AML and other compliance monitoring aspects of card programs are appropriately complete.
  7. Advise lines of business during the development of new products and services and evaluate BSA/AML & Sanctions risk level.
  8. Track BSA/AML and Sanctions industry developments and maintain up-to-date knowledge of regulatory changes, existing laws, and regulations impacting the organization.
  9. Collaborate and assist with the BSA/AML and Sanctions Risk Assessments.
  10. Prepare reports to be used by various oversight and governance committees to understand BSA risk and other related activities and trends.
  11. Assist BSA Officer in ensuring that business practices are aligned with Banks' risk tolerance and appetite for BSA/AML and Sanctions risks.
  12. Review, analyze, and make risk-based decisions on disputes regarding Client  and relationships and account closures.

Qualifications

Preferred Requirements 

  • Deep knowledge and experience with best practices in payment technologies and corresponding regulations.
  • Knowledge of AML typologies and emerging risks in financial crime and money laundering.
  • Previous experience working with internal auditors, financial regulators, and card networks, including audits and examination response and remediation of identified issues.
  • Experience applying AML guidance in non-traditional bank settings to address unique risks posed by Fintech firms and Challenger banks.
  • Problem-solving and decision-making skills, with the ability to analyze complex information to identify the critical issue and drive resolution.
  • A minimum of 8 plus years of successful and relevant experience in BSA/AML and Sanctions.
  • 3+ years of experience in a senior payments compliance role at a bank, card network, or fintech.
  • Expert knowledge of regulations and compliance best practices related to BSA/AML, OFAC, CIP, and KYC.
  • Demonstrated ability to build strong relationships, as well as management and influencing skills.

 

Education/Experience:

  • An undergraduate degree in a related field (Masters/JD Degree preferred).
  • APRP, CAMS, or CRCM Certification is preferred.

Employment with The Bancorp includes successfully passing a background check including credit, criminal, OFAC, education and past employment.

 

The Bancorp is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, age, status as a protected veteran, among other things, or status as a qualified individual with disability.

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