The Financial Crimes Partner Advisor is responsible for the oversight and expert guidance of our Banking-as-a-Service (BaaS) partners to ensure compliance with regulatory standards and internal policies related to BSA/AML/OFAC and fraud prevention. This role plays a critical part in maintaining the integrity of our financial crimes program by collaborating with partners to implement effective controls, monitor risk, and uphold operational excellence across all financial crimes domains.
PRINCIPAL DUTIES AND RESPONSIBILITIES
- Executes against the robust framework for third-party oversight in the Banking as a Service (BaaS) space, ensuring alignment with regulatory expectation and internal standards. The framework includes items such as standards for onboarding, ongoing monitoring, and issue escalation.
- Reviews policies and procedures to ensure alignment with expecations.
- Serves as a front-facing subject-matter-expert to our BaaS partners.
- Performs comprehensive risk assessments on our BaaS partners financial crimes risk management programs.
- Collaborates with internal stakeholders and other Financial Crimes Risk Management to ensure the Bank’s Financial Crimes Program.
- Identifies gaps and recommends enhancements to improve program effectiveness and mitigate financial crimes risk.
- Applies in-depth knowledge of the Bank Secrecy Act (BSA), anti-money laundering (AML) and countering the financing of terrorism (CFT) statutes, Office of Foreign Assets Control (OFAC), and Fraud Risk Management requirements to optimize the Bank’s Financial Crimes Risk Management Programs.
- Ensures all systems and process meet regulatory requirements (BSA/AML, OFAC, Fraud, etc.)
- Supports the implementation of new Baas Parnters, processes, rules, or regulations.
- Represents the Bank to both internal and external customers in a professional manner through effective face-to-face, written and telephone communications.
- Performs other duties as assigned.
