VP AML & Sanction Monitoring (Remote)

Job Location US-SD-Sioux Falls
Full Time


Work Arrangement:

***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, Senior Risk Manager 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.


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. Assists with drafting, updating, maintaining AML and Sanctions policies, programs, and procedures.
  4. Coordinates regulatory exams and independent audits.
  5. Implements and maintains 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. Continually assesses Business Line activities, perform research, and makes recommendations for enhancements to BSA/AML-related policies, procedures, processes, and departmental training.
  7. Ensures that all BSA/AML and other compliance monitoring aspects of card programs are appropriately complete.
  8. Advises lines of business during the development of new products and services and evaluate BSA/AML & Sanctions risk level.
  9. Tracks BSA/AML and Sanctions industry developments and maintain up-to-date knowledge of regulatory changes, existing laws, and regulations impacting the organization.
  10. Collaborates and assists with the BSA/AML and Sanctions Risk Assessments.
  11. Prepares reports to be used by various oversight and governance committees to understand BSA risk and other related activities and trends.
  12. Assists BSA Officer and Deputy BSA Officer in ensuring that business practices are aligned with Banks' risk tolerance and appetite for BSA/AML and Sanctions risks.
  13. Reviews, analyzes, and makes risk-based decisions on disputes regarding Client and relationships and account closures.
  14. Participates in meetings to discuss and implement strategies, initiatives and short- and long-term planning for the department.
  15. Leads risk assessments to ensure appropriate BSA/AML and Sanctions training for the lines of business.
  16. Develops and maintains management reporting and monitoring and tracking of issues related to the program. Prepares and delivers executive summaries of activities, actions, controls and risk assessments for the area.
  17. Provides strategic consultation to the business lines and serve as FCRM lead in the new products and services process with respect to business line initiatives.
  18. Ensures that the BSA/AML and Sanctions risk management environment in the lines of business are appropriately aligned with corporate policy and standards.
  19. Performs other duties as assigned.


Education/Experience Requirements

  • An undergraduate degree in a related field (Masters/JD Degree preferred).
  • A minimum of 8 plus years of successful and relevant experience in BSA/AML and Sanctions.
  • 3+ years of experience in a senior compliance leadership role at a bank, card network, or fintech.

Preferred Requirements

  • Professional certifications – APRP, CAMS, or CRCM Certification is preferred.
  • Demonstrated AML and BSA regulatory compliance subject matter expertise.
  • Business leadership skills with a demonstrated ability to execute complex projects.
  • Proven knowledge and experience with best practices in payment and banking technologies and corresponding regulations.
  • Deep knowledge of AML typologies/red flags 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.
  • Previous experience working with sponsor banks, program managers, and other players in the Banking-as-a-Service model
  • 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.
  • 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.
  • Business leadership skills with a demonstrated ability to execute complex projects.
  • Ability to quickly grasp and understand business unit specific BSA/AML risks and provide recommendations for strengthening department activities.
  • Capacity to manage multiple priorities in a fast-paced environment.
  • Excellent verbal, written, and interpersonal communication skills.
  • A team player able to work effectively in a team fostered, multi-tasking environment.

Background & EEO Statement

Salary Range: $118,000 - $150,000


This information reflects the base salary pay range for this job based on current national market data. Ranges may vary based on the job's location. We offer competitive pay that varies based on individual experience, qualifications and other relevant factors. We encourage you to apply to positions that you are interested in and for which you believe you are qualified. To learn more, you are welcome to discuss with us as you move through the selection process.


Working at The Bancorp Bank, N.A. and Benefits Information: click here

Diversity & Background Screening

Diversity & Inclusion at The Bancorp Bank: click here


The Bancorp Bank, N.A. is an EQUAL OPPORTUNITY EMPLOYER and will not discriminate on the basis of race, color, religion, gender, gender identity, sexual orientation, pregnancy, citizenship, national origin, age, disability, genetic information, veteran status or other protected category with respect to recruitment, hiring, training, promotion, and other terms and conditions of employment.


Employment with The Bancorp Bank, N.A. includes successfully passing a background check including credit, criminal, education, employment, OFAC, and social media background history.


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