The BSA / AML Compliance Officer will serve as Chief Compliance Officer for Inmar Services, LLC, a subsidiary of Inmar, Inc. that is a Money Transmitter. In addition, the BSA / AML Compliance Officer will have a management role for other Inmar group entities, focused on financial technology. As needed, the Compliance Officer will also determine risk related to financial crimes and product categorization for the broader Inmar Group entities.
The Compliance Officer will have principal managerial authority over and responsibility for the creation and support for the company’s money transmission compliance program and the BSA/AML Compliance Program. The Compliance Officer will recommend, develop, and implement BSA/AML policies and procedures to ensure compliance and manage corporate BSA/AML risk. The Compliance Officer will coordinate all BSA/AML (bank services act/anti-money laundering) and OFAC (Office of Foreign Assets Control) compliance activities including risk assessments, BSA reporting and record-keeping, CIP/CDD/EDD (Customer Identification Program/Customer Due Diligence, and prepaid access program regulation compliance). The Compliance Officer will work closely with other risk and control functions, as well as Senior and Executive Leadership, and regularly report to senior leaders.
Primary Accountabilities:
Leadership 50%
- Oversee the implementation of and continue to evolve Inmar’s BSA/AML programs, which includes oversight of the applicable regulations, policies, procedures, training, and monitoring.
- Provide leadership and supervision to BSA/AML management and staff. Train, develop, and evaluate staff performance.
- Serve as a liaison between senior management, product development and appropriate third-party compliance support new and existing products, services and programs.
- Develop relationships with regulatory agencies and advocate on behalf of the company
- Work closely with executive and senior leadership to support on-going Money Transmitter product expansion
-Recruit, train, and lead a team to manage existing and implement new controls over the broader Inmar AML Compliance efforts.
-Evaluate and mitigate risks through performing industry standard risk assessments and related control designs to counter exposure to financial crime.
Strategic 40%
- Communicate and oversee the correction of any regulatory compliance deficiencies or potential problems and provide guidance in the development of alternative solutions or implementation of corrective action.
-Lead the development of regulatory reporting implementation and provide guidance and oversight for Suspicious Activity Reports (SARs) and to ensure accuracy and completeness.
-Evaluate and implement vendors or technology solutions to control for financial crime risk.
Influence 10%
- Act as a liaison with law enforcement and attorneys on issues, as appropriate. Prepare, gather and coordinate information and documentation required by regulators and attorneys for compliance-related issues.
- Perform other duties as assigned.
-Help develop a culture of compliance within the broader Inmar organization, and in particular the sales, product, operations, and legal teams working on products that are in scope for Money Transmission Licensure.
-Connect to other Inmar leaders to ensure a comprehensive view of product development and risk in relevant spaces.
Required Qualifications:
Bachelor's Degree. CAMS or comparable advanced BSA/AML & OFAC training and/or certification required.
This position is an officer of a regulated entity, which will require vetting and regulatory disclosure to state governments.
At least five (5) years’ verifiable experience in the Money Services Business industry, including fintech, banking, or providing counsel or consulting services. Experience with supporting new regulated products or financial services for a fintech or financial institution.
Knowledgeable of compliance laws, rules, regulations, and procedures. Sound knowledge of principles of business.
Will be a W-2 employee and must be a citizen of the US or have legal immigration status to work in the US.
A credit report and background check will be required.
Excellent written and verbal communication skills
Travel 20%-30%
The physical demands described here are representative of those that must be met by an associate to successfully perform the major job responsibilities (essential functions) of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the major job responsibilities. This job description is not intended to be an exhaustive list of all duties, responsibilities, or qualifications associated with the job.
While performing the duties of this job, the associate is:
Required to use hands to finger, handle or feel objects, tools or controls, and reach with hands or arms.
Required to talk or hear and read instructions on a computer monitor and/or printed on paper.
Required to stand, kneel or stoop, and lift and/or move up to ## pounds. Required to view items at an extremely close range and must be able to adjust and readjust focus.
Safety:
Support a safe work environment by following safety rules and regulations and reporting all safety hazards.
As an Inmar Associate, you:
● Put clients first and consistently display a positive attitude and behaviors that demonstrate an awareness and willingness to listen and respond to clients in order to meet their short-term and long-term needs, requirements and exceed their expectations.
● Treat clients and teammates with courtesy, consideration and tact; you also have the ability to perceive the needs of internal and external clients and communicate effectively with the objective of delighting and retaining the client.
● Build collaborative relationships and work cooperatively with others, inside and outside the organization, to accomplish objectives, develop and maintain mutually-beneficial partnerships, leverage information and achieve results.
● Set and attain achievable, yet aggressive, goals with a sense of urgency and accountability.
● Understand that results are important and focus on turning mission into action to achieve results following the principles of Flawless Execution while consistently complying with quality, service and productivity standards to meet deadlines and exceed expectations by giving our clients the best possible outcome.
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We are an Equal Opportunity Employer, including disability/vets.
