BSA/AML Officer

What's the role about

We’re continuously expanding into new markets, and it’s essential that we stay compliant in every jurisdiction in order to facilitate this growth. We’re looking for an BSA/AML Compliance Officer who will enforce and monitor our compliance with regards to anti-money laundering.

This is an important role on our experienced and agile Compliance team, and you’ll be a key role in our anti-money laundering compliance activities. This will include coordination of our AML programme, and conducting risk assessments to ensure that we are compliant with regulatory standards. On a day-to-day basis you will need to help Paysend meet the compliance standards that provide an important framework to the FinTech industry, which is vital for us to continue to be successful. Strong analysis and communication skills, and the ability to train, monitor and report on any AML activities, are required for you to be successful in this role and to grow your own career as Paysend continues on its journey of growth.

It would be beneficial for this role if you are registered with a U.S. state regulator(s) as a BSA/AML Compliance Officer of a U.S. money transmitter, e-money institution or other money services company

What you’ll be doing:

  • Coordinating and overseeing an effective Bank Secrecy Act/Anti-Money Laundering/OFAC Compliance Programme that is in compliance with current industry best practices, regulatory guidance and requirements.
  • Developing, implementing, administering and enhancing the BSA/AML/OFAC/USA Patriot Act monitoring systems to ensure that appropriate parameters are in place to identify suspicious and/or fraudulent activity.
  • Establishing and maintaining an effective CDD/EDD risk rating and monitoring programme to include initial and ongoing assessments, and reviewing and analysing unusual account activity.
  • Establishing and maintaining appropriate SAR investigation, reviewing and reporting processes that promote consistent decisions; adequate investigation and research; and completes detailed documentation.
  • Conducting BSA/AML/OFAC risk assessments at least annually with consideration to products, services, members and geographies that may present BSA/AML/OFAC related risks.
  • Acting as a liaison/contact for examinations, internal audit and external audits of the BSA/AML compliance programs. Responding to exams and audit concerns and overseeing corrective action of all related compliance deficiencies.
  • Updating and revising compliance policies and procedures.
  • Administering BSA/AML/OFAC related training programs for directors, management and employees and providing BSA guidance and coaching to employees.
  • Maintaining BSA/AML related monitoring and reporting systems, BSA Monitoring and Filings.
  • Monitoring and analysing industry and compliance trends and changes to laws and regulations pertaining to BSA/AML/OFAC/USA/State Money Transmission and Lending and Patriot Act. Advising the Board of Directors of emerging risks, new or amended laws, regulations, or agency guidance and recommends and implementing changes and controls to mitigate those risks.

What we’re looking for:

  • Bachelor’s degree preferred.
  • Requires significant years of experience in the money transmitter industry with additional years of experience in Prepaid GPR, Debit/Checking or consumer lending industry preferred.
  • Thorough knowledge of key U.S. State Specific MTL regulations and FINCen reporting requirements.
  • Significant experience in a financial institution (money transmitter, Debit/GPR or consumer lending) in a position of a BSA/AML compliance officer / manager;
  • Enforcement and monitoring of the Company’s compliance with applicable laws and regulations, and the Company’s BSA/AML Program;
  • Experience working with Banks and Regulators, auditors and other critical third parties.
  • Strong project management skills, keeping track and managing complex, multi-party projects to successful timely completion.
  • Ability to develop and maintain detailed reporting.
  • Strong Excel, Word and PowerPoint skills
  • Detecting suspicious activities and proper SAR E-filing;
  • Maintenance of internal documentation of any known, detected, reported suspicious activities or sanctions list matches (including storage of SARs in the Company’s files), and the disposition of any AML investigations along with supporting records;
  • Representing the Company in its communications with the FINCen, Auditors, Banks and other applicable partners and other regulators with respect to AML/CTF/MTL/CLL license(s) or maintenance matters;
  • Responding to inquiries from governmental agencies;
  • Advising on the due diligence of individuals using the Company’s products and services;
  • Reporting summary of detected AML risks to the Company’s Board of Directors on a monthly basis;
  • Arranging BSA/AML training for the Company’s employees;
  • Arranging independent review of the BSA/AML Policy testing and review by the auditors;
  • Experience and ability to work independently without assistance of subordinates.


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