Position: BSA/AML & Compliance Officer Reports To: SVP of Financial Services
Location: Silver Spring or Remote Department: ONE VIP
FLSA: Exempt Station: N/A
Mandate : To act in the role of Compliance Officer and oversee BSA/AML operations associated with the ONE VIP Card Program.
- Act as ONE VIP Compliance Officer
- Perform ONE VIP BSA/AML Activities
- Manage third party parties for performance, as appropriate
- Interpret analytics and reporting to optimize compliance, customer experience, revenue and cost control
- Ensure compliance with PCI and other applicable regulations
- Support ONE VIP in achieving goals and financial performance targets
- Support other functions; Technology, Finance, Legal, Marketing as required
- Support investigations and responses to subpoenas and complaints as required
- Support SVP of Financial Services as required
- Plan for cost optimization and insourcing / outsourcing as required
Objectives (by Responsibility)
Act as Compliance Officer
- Ensure that ONE VIP operations adhere to corporate policies, commercial and legal responsibilities. Remain current on laws & regulations. Demonstrate subject matter expertise. Be a point of contact for internal functions and external partners on BSA/AML and compliance matters. Lead annual testing & validation of compliance of ONE VIP policies. Iterate and develop policies and procedures as required.
Perform BSA/AML Activities
- Perform and ensure that ONE VIP BSA/AML matters are handled correctly in accordance with company BSA/AML Policy. Iterate and develop policies and procedures as required.
Manage third party parties for performance
- Manage third party partners to optimize service performance, customer experience, compliance and cost optimization.
Interpret analytics and reporting to optimize customer experience, revenue and cost control
- Utilize reporting and analytics to understand and optimize card program performance in terms of compliance, customer experience, revenues and cost reduction.
Ensure compliance with PCI and other applicable regulations
- Ensure all operations are performed according to industry best practices, corporate policies and in compliances with external regulations, internal policies and our contractual obligations.
Support ONE VIP in achieving goals and financial performance targets
- Contribute to the team and program to achieve annual goals and financial performance targets.
Support other functions; Technology, Finance, Legal, Marketing as required
Support investigations and responses to subpoenas and complaints as required
Support SVP of Financial Services and perform other duties as required
Plan for cost optimization and insourcing / outsourcing as required
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions:
- 8+ years of demonstrable BSA/AML and Compliance experience in cards & payments.
- Open Loop Prepaid Card experience, preferable. Specific experience gained with Program Managers and Issuing Banks preferred. Specific experience with General Purpose Reloadable Cards preferred.
- Demonstrable knowledge of Prepaid Card best practices and industry norms.
- Demonstrable experience of testing and validating compliance with policies.
- Diverse working knowledge of bank related laws (federal and state) and regulations, PCI, Reg E, BSA, AML/ATF, CIP, Fraud, identity theft and network operating rules.
- Knowledge of Visa DPS Processing Platform advantageous.
- Customer centric with excellent service experience to all customers (external and internal) and ability to instill this passion in others.
- “Roll-up-your sleeves” entrepreneurial approach desired. Ability to plan strategically and act tactically.
- Ability to get involved and accomplish results, demonstrating subject matter expertise and competence without the need for either direction or a large support team.
- Ability to prioritize work and manage multiple concurrent responsibilities in a professional and timely manner. Ability to adapt/respond quickly to change/new information.
- Excellent interpersonal skills (tactfulness, cooperation, courteousness and customer friendliness) are necessary to represent Urban One in a positive manner. Must have a proven track record of effectively working in cross-functional teams, communicating effectively with the vendors/partners, customers, and internal teams.
- Excellent written communication skills with demonstrated ability to write communications clearly, concisely and effectively, with attention to detail.
- Excellent verbal communication skills with the demonstrated ability to effectively present information to customers and management.
- Excellent planning, organizational and analytical skills with attention to detail and accuracy.
- Ability to maintain confidentiality and handle sensitive information.
- Ability to work independently as well as collaboratively within a team environment.
Education and/or Experience
Bachelor’s degree in Engineering, Technology, Business or Finance is preferred; otherwise, must have a combination of applicable education and experience. Have strong computer skills with a proficiency in MS Word, Excel, PowerPoint, Project and Outlook.
* Professionalism is described as being consistently appropriate in all situations and at all times.
*Competence is defined as using “effectiveness and efficiency” in equal measure at all times.