Senior Director, BSA/AML Officer

Compliance Cottonwood Heights, Utah


Description

Who We Are

SoFi is a digital personal finance company whose mission is to help its members achieve financial independence to realize their ambitions, whether that be to buy a house one day, start a family on their own terms or be debt free. We aim to be at the center of our members’ financial lives, and to help every member Get Their Money Right®. By joining SoFi, you’ll become part of a forward-thinking company that is transforming financial services by embracing technology to build innovative loan products, investment tools, and more. One of the fastest growing fintech companies, we’ve grown from 250 employees in 2015 to over 1,500 employees today, and are well on our way to reaching 1 million members. With offices across the US, we offer the excitement of a rapidly growing startup with the stability of a seasoned management team and some of the best talent around. As an employer, we strive to hire employees who are committed to both our company’s mission and our desire to build the best culture in the world. If you are driven, passionate about what you do, and excited about the SoFi mission, we would love to hear from you.

The Role

We are seeking a Senior Director, BSA/AML Compliance Officer who will be responsible for the day-to-day compliance with all requirements of Banking Secrecy Act and all related anti-money laundering laws and regulations, including the continued maintenance, enhancement, implementation, and direction of all aspects of the existing Enterprise AML Policy and Program. This individual will collaborate with Senior Management to ensure compliance with AML policies and procedures of the various entities within the SoFi enterprise, including a state registered consumer loan company, FINRA registered broker dealer, SEC registered investment adviser, FINRA and state registered MSB/money transmitter, and state registered life insurance agency.  

This role will provide advice, technical guidance, and specialized support services to cross-functional teams and specialized business units, exercising  initiative and judgment on how to address and resolve problems on a regular basis. The BSA/AML Compliance Officer will contribute to meeting objectives and key results of the company through active collaboration with  the Compliance team and is expected to provide leadership, training, and support.
 

What You'll Do:

  • Serve as the designated BSA Officer for the Enterprise.

  • Develop, implement, and maintain AML policies and procedures and ensure they align with current regulatory requirements, designing and implementing ongoing assurance activities to monitor key BSA/AML risks. 

  • Develop, implement, and maintain risk assessment and control framework through strong compliance policies, standards and procedures related to BSA/AML risks.

  • Conduct monthly BSA/AML/Sanctions meetings with management.

  • Prepare data for presentation to the Board of Directors on a quarterly basis.

  • Contact banks and regulators to form relationships.

  • Manage examinations and site visits from independent state and federal regulators.

  • Coordinate and implement responses to examinations.

  • Ensure remedial efforts and action plans are effectively and appropriately communicated, properly executed and closed.

  • Prepare the Company to undergo an annual independent review.

  • Assist internal business units with risk assessments of activities typically related to money laundering.

  • Prepare and deliver regulatory training materials , ensuring that employees are aware of, and adhere to policies.

  • Write, manage, and ensure timely and accurate filing of required reports to FinCEN such as SARs.

  • Partner with Fraud Operations to address and document adequacy of controls and determine, as appropriate, whether continuous improvement efforts are needed to strengthen risk management process and mitigate BSA/AML risks.

  • Deliver data-backed narratives and presentations to clearly communicate findings to the Enterprise Chief Compliance Officer and senior leadership.

  • Consult legal, regulatory compliance, internal audit and other disciplines with regard to AML risk and compliance.

  • Maintain a strong presence in the business to promote an environment where individual staff will seek compliance guidance when they have questions.

What You'll Need:

  • 10+ years of experience in BSA/AML/OFAC regulatory compliance risk management.Must have deep knowledge and understanding of the BSA and audit, regulatory compliance, or risk management.

  • Certified Anti Money Laundering Specialist (CAMS) and/or Certified Anti Money Laundering and Fraud Prevention Professional (CAFP) preferred.

  • Experience building and managing teams of AML analysts, with demonstrated leadership capabilities. 

  • Ability to credibly challenge new or modified product reviews, inherent risk assessments, policy revisions, roles and responsibility agreements, gap analysis, and corporate directives.

  • Familiarity with AML/KYC examination processes and expectations of regulatory bodies.

  • Strong knowledge of risk scoring models and transaction monitor systems.

  • Experience with drafting documentation for regulator review.

  • Demonstrated ability to build collaborative partnerships and facilitate efforts across business units, creating alliances among geographically diverse and matrixed stakeholders.

  • Superior ability to develop practical, creative solutions designed to mitigate risks and meet business needs.

  • Past experience working in a matrixed environment with multiple stakeholders.

  • Ability to manage multiple deliverables & priorities, handle highly confidential information

  • Excellent verbal, written, and interpersonal communication skills; must be able to write & communicate items in a consumable form by senior executives.

  • Familiarity with blockchain/cryptocurrencies is a plus.

  • An approachable and personable team player with demonstrated personal drive, determination, and persistence. 

  • Must demonstrate professional curiosity, possess the desire and aptitude to rapidly learn new skills, and have a continuous improvement mindset.

 

Why You'll Love Working Here:

  • Competitive salary packages and bonuses.

  • Comprehensive medical, dental, vision and life insurance as well as disability benefits.

  • 100% of medical, vision, and dental premiums paid by SoFI for employees and their dependents.

  • Generous vacation and holidays

  • 401(k) and education on retirement planning.

  • Tuition reimbursement on approved programs, up to $5,250 a year.

  • Monthly contribution to help you pay off your student loans.

  • Employerpaid lunch program and subsidized gym membership.

  • Fully stocked kitchen (snacks & drinks)

 

 SoFi provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth and related medical conditions, breastfeeding, and conditions related to breastfeeding), gender, gender identity, gender expression, national origin, ancestry, age (40 or over), physical or medical disability, medical condition, marital status, registered domestic partner status, sexual orientation, genetic information, military and/or veteran status, or any other basis prohibited by applicable state or federal law.