Hybrid AVP BSA AML Sanctions Testing Lead

at The Bancorp

• Job title: AVP BSA AML Sanctions Testing Lead
• Job type: Full Time
• Experience level: Senior
• Salary: Not specified
• Degree requirement: Bachelor's Degree
• Location requirements: Hybrid, Wilmington, United States

About the role

• AVP BSA AML Sanctions Testing Lead overseeing a team to design risk-based tests at financial institution in Wilmington, DE, also guiding compliance operations and processes.

Responsibilities

• Oversees a team of Anti-Money Laundering (AML) Sanctions Testing Analysts to effectively design risk-based tests of Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and Sanctions processes and controls within the line of business, Financial Crimes Risk Management functional area, and third parties.
• Designs and runs tests on processes and controls to identify gaps and opportunities to minimize risk associated with BSA/AML and Sanctions.
• Performs initial review of the AML Sanctions Testing Analyst workpapers and initial draft reports.
• Tests and monitors findings to stakeholders, including senior leadership of both LOB and FCRM.
• Maintains awareness of industry updates to frequency and types of financial crimes, regulatory requirements, and related issues and enhances testing activities to address these issues.
• Communicates to business and compliance staff throughout the company on the objective and protocols within the FCRM testing and monitoring function.
• Works with VP BSA AML Sanctions Testing Manager to develop, update, and maintain MIS monitoring and tracking reports which extract data from day-to-day processes to increase efficiencies and identify patterns and trends in testing results.
• Leads team of AML Sanctions Testing Analyst to ongoing excellence.
• Evaluates and streamlines existing processes and systems for testing and monitoring.
• Works with VP BSA/AML Sanctions Testing Manager and IT to develop reports system requirements and system controls to identify risks.
• Performs site visits on Third Party Partners regarding their BSA/AML and Sanctions controls.
• Performs other duties as assigned.

Requirements

• Undergraduate degree in business, finance, social science methodology or a related field or an equivalent combination of training and experience.
• 5 years of compliance testing, quality assurance, auditing experience at a large financial institution or experience in fintech and payments areas.
• CAMS and/or audit-related certifications preferred.
• Strong working knowledge of auditing and AML/Sanctions testing.
• Ability to manage multiple priorities and tasks with the skills to adapt to changes in fast-paced environment.
• Ability to critically assess risks and identify level of review needed for testing.
• Ability to identify and communicate solutions for issues identified during the testing process.
• Process oriented with strong organizational skillsets.
• Excellent verbal, written, and interpersonal communication skills with the ability to work effectively with colleagues across regions and business units.
• Excellent investigative and analytical skills with the ability to uncover root causes, identify patterns, and analyze key risk trends.
• Self-motivated team player able to work effectively in a team fostered, multi-tasking environment.
• Proficient in Microsoft Office suite, e.g., Excel, PowerPoint, Word, Outlook.
• Position is required to travel 25% percent.

Benefits

• This job will be open and accepting applications for a minimum of five days from the date it was posted.
• Employment with The Bancorp Bank, N.A. includes successfully passing a background check including credit, criminal, education, employment, OFAC, and social media background history.