VP - AML

Job Description:

Role Summary/Purpose:

Reporting to the SVP, BSA/AML/OFAC Officer, this position will oversee and provide strategic thought leadership regarding the following components of the BSA/AML program: Know Your Customer, Customer Identification Program, Enhanced Due Diligence, Customer Due Diligence, and Customer Risk Rating. This role will collaborate closely with various business and risk leaders to ensure regulatory requirements related to these BSA/AML program components are understood by all relevant stakeholders and provide effective challenge regarding the design and operational effectiveness of controls in place to ensure regulatory compliance.

Our Way of Working

We're proud to offer you choice and flexibility. At Synchrony, our way of working allows you to have the option to work from home, near one of our Hubs or come into one of our offices. Occasionally you may be required to commute to our nearest office for in person engagement activities such as business or team meetings, training and culture events.

Essential Responsibilities:

With respect to the following AML/BSA program elements: customer identification and verification, know your customer, customer due diligence, including enhanced due diligence, and customer risk rating

• Provide strategic thought leadership, effective challenge and drive execution related to recommended control design and execution enhancements. Assist with the coordination across business lines and functions including clear delineation of roles and responsibilities.
• Oversee the development and implementation of necessary program enhancements to ensure the continuous improvement and ongoing success of the AML Program and serve as a subject matter expert in AML laws and regulations
• Provide effective challenge, develop, review and approve policies, procedures, and controls designed to ensure compliance with regulatory expectations
• Work collaboratively with the Legal Department and relevant senior business leaders to identify AML risk associated with new and existing laws and regulations, products, processes, systems, clients and acquisitions
• Develop AML training materials to educate business leaders, employees and third party suppliers regarding AML requirements including, where appropriate, customized training for certain job roles; Monitor the assignment and completion of role-based employee training
• Collaborate with other AML leaders regarding the intersection between CIP, CDD/EDD and customer risk rating processes and (1) OFAC/Watchlist screening processes and (2) transaction monitoring processes and related AML models, rules and thresholds
• Identify and escalate key issues and risks for further discussion and action, as appropriate, to the BSA/AML/OFAC Officer
• Develop and monitor AML-related metrics, key performance indicators and key risk indicators
• Develop and execute targeted reviews and participate in the design and analyze the results of 2LOD quality assurance activities
• Participate in the execution of the Program Risk Assessments including analysis of inherent risks, the control environment and themes and trends
• Supervise and develop BSA/AML personnel responsible for performing duties and supporting the Company's BSA/AML program
• Support and participate in AML related audits, tests and examinations including preparing responses to requests for information and documents and communication with regulatory authorities
• Assist in the preparation of reports to the Compliance Committee, Enterprise Risk Committee and Risk Committee of the Board of Directors
• Perform other duties and/or special projects as assigned

Qualifications/Requirements:

• Bachelor's Degree and 10+ years of BSA/AML experience in a large financial institution, including experience in the following: Know Your Customer, Customer Identification Program, Customer Due Diligence, Enhanced Due Diligence, and Customer Risk Rating, OFAC screening, transaction monitoring and SAR filing or in lieu of a Bachelor's Degree, a High School Diploma / GED And 1e/3+ years of BSA/AML experience in a large financial institution, including experience in the following: Know Your Customer, Customer Identification Program, Customer Due Diligence, Enhanced Due Diligence, and Customer Risk Rating, OFAC screening, transaction monitoring and SAR filing
• 5+ years of successful work in a matrixed environment, leading projects and presenting results to senior leaders and regulators
• Strong strategic thought, analytical, investigative, and problem-solving skills. Excellent written and oral communication skills including the ability to engage senior leadership and regulatory bodies.
• Certifications such as CAMS (Certified Anti-Money Laundering Specialist) or equivalent
• 3+ years of experience managing people

Desired Characteristics:

• Bachelor's Degree
• 5+ years of successful work in a matrixed environment, leading projects and presenting results to senior leaders and regulators
• Strong strategic thought, analytical, investigative, and problem-solving skills. Excellent written and oral communication skills including the ability to engage senior leadership and regulatory bodies.
• Certifications such as CAMS (Certified Anti-Money Laundering Specialist) or equivalent
• 3+ years of experience managing people

Grade/Level: 14

The salary range for this position is 150,000.00 - 250,000.00 USD Annual and is eligible for an annual bonus based on individual and company performance.

Actual compensation offered within the posted salary range will be based upon work experience, skill level or knowledge.

Salaries are adjusted according to market in CA, NY Metro and Seattle.

Eligibility Requirements:

• You must be 18 years or older
• You must have a high school diploma or equivalent
• You must be willing to take a drug test, submit to a background investigation and submit fingerprints as part of the onboarding process
• You must be able to satisfy the requirements of Section 19 of the Federal Deposit Insurance Act.
• New hires (Level 4-7) must have 9 months of continuous service with the company before they are eligible to post on other roles. Once this new hire time in position requirement is met, the associate will have a minimum 6 months' time in position before they can post for future non-exempt roles. Employees, level 8 or greater, must have at least 18 months' time in position before they can post. All internal employees must consistently meet performance expectations and have approval from your manager to post (or the approval of your manager and HR if you don't meet the time in position or performance expectations).

Legal authorization to work in the U.S. is required. We will not sponsor individuals for employment visas, now or in the future, for this job opening. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.

Our Commitment:

When you join us, you'll be part of a diverse, inclusive culture where your skills, experience, and voice are not only heard-but valued. We celebrate the differences in all of us and believe that our individual, unique perspectives is what makes Synchrony truly a great place to work. Together, we're building a future where we can all belong, connect and turn ideals into action. Through the power of our 8 Diversity Networks+, with more than 60% of our workforce engaged, you'll find community to connect with an opportunity to go beyond your passions.

This starts when you choose to apply for a role at Synchrony. We ensure all qualified applicants will receive consideration for employment without regard to age, race, color, religion, gender, sexual orientation, gender identity, national origin, disability, or veteran status.

Reasonable Accommodation Notice:

• Federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities. Please tell us if you require a reasonable accommodation to apply for a job or to perform your job. Examples of reasonable accommodation include making a change to the application process or work procedures, providing documents in an alternate format, using a sign language interpreter, or using specialized equipment.
• If you need special accommodations, please call our Career Support Line so that we can discuss your specific situation. We can be reached at 1-866-301-5627. Representatives are available from 8am - 5pm Monday to Friday, Central Standard Time

Job Family Group:
Risk Management