Compliance Analyst (Payments)
Company Name:
ACG Resources/Adams Consulting Group, LLC
JOB
Summary:
Under the direction of the VP Sr. Compliance Officer, the Payments Compliance Manager coordinates, maintains, and documents supervision activities for the Bank's Merchant Services & Payment Division. The Payments Compliance Manager will further develop and strengthen the Bank's AML program for the Merchant Services & Payment Division and support the Bank's overall AML/Sanctions program addressing risk and regulatory expectations in the context of the Bank's business environment. The position will participate in efforts to standardize and enhance the AML/Sanctions program, while developing and implementing plans to execute against regulatory milestones.
ESSENTIAL FUNCTIONS & ACCOUNTABILITIES
o Perform Compliance Annual Risk Assessment to identify key areas of risk and need for control enhancement; develop and execute an Annual Compliance Plan to address the findings;
o Maintain internal policies and procedures to ensure that they are clearly written, comprehensive, provide effective controls, and address compliance with applicable regulations e.g. UDAAP, Reg. E and Card Act 2009
o Analysis and implementation of relevant changes in state and federal laws and regulations;
o Develop and execute periodic comprehensive, risk based compliance monitoring and surveillance for prepaid programs.
o Conduct compliance testing plan covering key compliance risks related to AML/OFAC and prepaid card areas.
o Work with VP Senior Compliance Officer to remediate audit findings.
o Assists in the development, maintenance, and distribution of AML training to program managers, Board of Directors and staff.
o Reviews system generated reports of detection scenarios from card holder activity to identify and resolve incidents that appear to be indicative of money laundering.
o Conducts DD and EDD monthly, quarterly, and annually filings as necessary to ensure compliance with applicable law
o Perform special projects, reviews and other duties as assigned.
o Processing site visit results to include analysis and follow up on remediation and reporting to
BSA/AML Compliance Manager
o Researching batch reports for OFAC alerts and documenting the research
o Filing of Compliance Related documents including electronic and hard copy filing
o Daily monitoring of anti-money laundering alerts Research and due diligence on alerts to be forwarded to second level to determine if SARs need to be filed
Qualifications:
o CAMS Preferred (Not Required)
o BA/BS Degree.
o Seven-plus years of AML/BSA experience at a financial services institution.
o Ability to understand and interpret regulations, laws, and statutes; Strong research skills In- depth knowledge and understanding of compliance practices and methodologies, including risk assessment, best practice control alternatives, monitoring/surveillance, and testing activities
o Strong knowledge of federal and state regulations related to payment services (e.g., working
Knowledge of VISA and MasterCard operating rules).
o Experience with regulatory agencies, including knowledge of FFIEC audit requirements, preferred.
o Demonstrated ability to manage multiple demands and priorities. Excellent communication
(both written and verbal) skills. Extensive knowledge of Bank Secrecy Act, USA Patriot Act, Money Laundering Control Act, Office of Foreign Asset Control regulations, strategies and enforcement policies, familiarity with key banking regulations and interpretations, knowledge of bank laws and operations, risk assessment and analysis.Estimated Salary: $20 to $28 per hour based on qualifications.
ACG Resources/Adams Consulting Group, LLC
JOB
Summary:
Under the direction of the VP Sr. Compliance Officer, the Payments Compliance Manager coordinates, maintains, and documents supervision activities for the Bank's Merchant Services & Payment Division. The Payments Compliance Manager will further develop and strengthen the Bank's AML program for the Merchant Services & Payment Division and support the Bank's overall AML/Sanctions program addressing risk and regulatory expectations in the context of the Bank's business environment. The position will participate in efforts to standardize and enhance the AML/Sanctions program, while developing and implementing plans to execute against regulatory milestones.
ESSENTIAL FUNCTIONS & ACCOUNTABILITIES
o Perform Compliance Annual Risk Assessment to identify key areas of risk and need for control enhancement; develop and execute an Annual Compliance Plan to address the findings;
o Maintain internal policies and procedures to ensure that they are clearly written, comprehensive, provide effective controls, and address compliance with applicable regulations e.g. UDAAP, Reg. E and Card Act 2009
o Analysis and implementation of relevant changes in state and federal laws and regulations;
o Develop and execute periodic comprehensive, risk based compliance monitoring and surveillance for prepaid programs.
o Conduct compliance testing plan covering key compliance risks related to AML/OFAC and prepaid card areas.
o Work with VP Senior Compliance Officer to remediate audit findings.
o Assists in the development, maintenance, and distribution of AML training to program managers, Board of Directors and staff.
o Reviews system generated reports of detection scenarios from card holder activity to identify and resolve incidents that appear to be indicative of money laundering.
o Conducts DD and EDD monthly, quarterly, and annually filings as necessary to ensure compliance with applicable law
o Perform special projects, reviews and other duties as assigned.
o Processing site visit results to include analysis and follow up on remediation and reporting to
BSA/AML Compliance Manager
o Researching batch reports for OFAC alerts and documenting the research
o Filing of Compliance Related documents including electronic and hard copy filing
o Daily monitoring of anti-money laundering alerts Research and due diligence on alerts to be forwarded to second level to determine if SARs need to be filed
Qualifications:
o CAMS Preferred (Not Required)
o BA/BS Degree.
o Seven-plus years of AML/BSA experience at a financial services institution.
o Ability to understand and interpret regulations, laws, and statutes; Strong research skills In- depth knowledge and understanding of compliance practices and methodologies, including risk assessment, best practice control alternatives, monitoring/surveillance, and testing activities
o Strong knowledge of federal and state regulations related to payment services (e.g., working
Knowledge of VISA and MasterCard operating rules).
o Experience with regulatory agencies, including knowledge of FFIEC audit requirements, preferred.
o Demonstrated ability to manage multiple demands and priorities. Excellent communication
(both written and verbal) skills. Extensive knowledge of Bank Secrecy Act, USA Patriot Act, Money Laundering Control Act, Office of Foreign Asset Control regulations, strategies and enforcement policies, familiarity with key banking regulations and interpretations, knowledge of bank laws and operations, risk assessment and analysis.Estimated Salary: $20 to $28 per hour based on qualifications.
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