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Job Description

OVERVIEW

As part of the BSA Compliance Team, this 2nd Line of Defense (2nd LOD) position is a subject matter expert in payments and types of embedded payments rails (e.g. ACH, wires, SWIFT, checks, RTP, cards, etc.) employed by FinTech business models (e.g. SaaS payment processors, MSBs, alternative lenders) from an AML risk perspective. This position is primarily responsible for providing guidance and contributing to BSA/AML policy around this client segment and for oversight of FinTech client relationships. Qualified candidates must demonstrate success in working with and communicating regulatory and policy expectations to Business Units including Global Offices, 1st Line of Defense (1st LOD) and supporting risk teams, and 2nd LOD counterparts to ensure comprehensive understanding and application.

PRIMARY RESPONSIBILITIES:

Under the direction and supervision of the Senior Director of BSA Compliance, the ideal Payments SME Compliance Manager candidate has and is responsible for:

Expertise:

• Provide expertise in assessing AML risks associated with payments/FinTech business models to align with internal guidance and policy requirements for enhanced due diligence and ongoing monitoring.

• Understand risk and compliance topics-including third/fourth-party, on-behalf-of payment models, AML, sanctions, fraud, payments network requirements-relevant to the embedded payments space

• Proficient understanding of BSA/AML related regulations including ability to independently research using sources such as FinCEN/Federal Reserve Code of Federal Regulations (CFRs) and FFIEC BSA/AML Exam Manual.

• Understand the predominant US and cross-border payment methods (e.g. ACH, wires, SWIFT, checks, RTP, cards, etc.)

• Be very familiar with emerging payment trends, particularly those of non-banks and fintech competitors (experience with crypto or securities also a plus).

• Point of contact to 1st and 2nd LOD Teams seeking advisory input on regulations and/or policy.

• Manage processes related to change management, regulatory changes related to area of expertise.

• Creation of content/presentations and ability to comfortably present to groups, committees and/or leadership.

• Development and delivery of training content relevant to regulations and policy.

• Team player who is willing to take on other duties proactively and/or as assigned.

Oversight:

• Responsible for contributing to the effective challenge oversight program for high-risk client onboarding and ongoing due diligence for FinTech clients.

• Ability to succinctly document and convey effective challenge as part of 2nd LOD oversight.

• Involves assessing 1st LOD adherence to internal compliance requirements through review of prospects/clients and the controls/processes presented that the prospect/client must have in place/need to reduce the inherent risk.

• Advise on risks presented when a compliance program does not meet expected regulatory standards or internal requirements via effective challenge.

• Development and execution of various compliance risk management reporting, such as state of compliance reports, emerging risk reports, etc.

Skills & Requirements:

Minimum of 5 years of banking, investment, risk management, or audit experience focused on payments with a minimum of 5 years of experience related to AML.

Must possess strong subject matter expertise specific to financial crimes or compliance management processes in relation to payments.

Demonstrate strong knowledge of financial crimes risks and the prevention and mitigation processes and controls.

Strong knowledge of control frameworks and the ability to design and evaluate effectiveness of controls embedded within business processes.

Strong understanding of the compliance and regulatory frameworks applicable to financial institutions with an emphasis on FinCEN regulations and FFIEC guidelines (additionally SEC regulations and crypto knowledge a plus).

Ability to assess compliance programs, processes, controls.

Ability to work independently, take initiative with strong verbal and written communication skills.

Ability to work confidently and directly with Relationship Managers, prospects and/or clients.

Good time management and attention to detail are critical to this position.

Good analytical, research, organizational, and project management skills.

Strong individual contributor with the ability to work effectively as a team.

Flexibility in learning new topics, handling change and deadlines.

Must possess a bachelor's degree in any Financial Crimes related fields or Business Administration, Accounting, Finance or equivalent. MBA or MS a plus.

Strong understanding of requisite Microsoft Office applications and ability to learn new internal systems quickly.

We are open to most locations in the U.S.

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Equal Employment Opportunity

Silicon Valley Bank is an equal opportunity employer and is dedicated to expanding its commitments and investments to create a more diverse, equitable and inclusive company culture and innovation ecosystem. We are strongly committed to the values and policy of equal employment opportunity across our employment practices.

Silicon Valley Bank UK Limited is registered in England and Wales at Alphabeta, 14-18 Finsbury Square, London EC2A 1BR, UK (Company Number 12546585). Silicon Valley Bank UK Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (Firm Reference Number 543146). Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.