VP Payments Compliance (Hybrid)
Job Location
US-DE-Wilmington
Overview
Work Arrangement: ***After the initial training period, this is a hybrid role, working onsite in our Wilmington, DE office.*** This role involves expertise in AML and sanctions compliance within the payments industry, complemented by a strong foundation in data analytics focused on banking, anti-money laundering, and sanctions-related metrics. The position requires managing and executing The Bancorp's strategic position in the payments, sponsor bank, and fintech marketplace.
The VP, Payments Compliance will work with a globally dispersed support team and key stakeholders outside the organization. This role involves interacting with a broad spectrum of business partners, including Challenger banks, Fintech firms, Card Networks (VISA, Mastercard), and payment industry leaders, to advise on the development, execution, and operation of products and services. Responsibilities include liaising with regulatory agencies and presenting the Bank's achievements during reviews, visitations, and audit meetings.
Responsibilities
Essential Functions
Develops close working relationships with business leaders and other stakeholders to advance a culture of compliance within the organization.
- Prepares reports to be used by various oversight and governance committees to understand BSA risk and other related activities and trends.
- Assist with drafting, updating, maintaining AML and Sanctions policies, programs, and procedures.
- Coordinate regulatory exams and independent audits.
- 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.
- Ensure that all BSA/AML and other compliance monitoring aspects of card programs are appropriately complete.
- Advise lines of business during the development of new products and services and evaluate BSA/AML & Sanctions risk level.
- Track BSA/AML and Sanctions industry developments and maintain up-to-date knowledge of regulatory changes, existing laws, and regulations impacting the organization.
- Collaborate and assist with the BSA/AML and Sanctions Risk Assessments.
- Prepare reports to be used by various oversight and governance committees to understand BSA risk and other related activities and trends.
- Assist BSA Officer in ensuring that business practices are aligned with Banks' risk tolerance and appetite for BSA/AML and Sanctions risks.
- Review, analyze, and make risk-based decisions on disputes regarding Client and relationships and account closures.
- Performs other duties as assigned.
Qualifications
Education/Experience Requirements:
- An undergraduate degree in a related field (Masters/JD Degree preferred).
- APRP, CAMS, or CRCM Certification is preferred.
Preferred Requirements:
- Strong data literacy, including proficiency in analyzing and interpreting complex datasets to drive decision-making.
- Advanced skills in SQL for querying, managing, and manipulating data in relational databases.
- Strong ability to synthesize quantitative and qualitative data to generate insights and recommendations.
- 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.
Background & EEO Statement
This job will be open and accepting applications for a minimum of five days from the date it was posted. 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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The Bancorp
Jan 06, 2025