What are the responsibilities and job description for the BSA/AML Officer position at Deserve?
About the company:
Through a digital-first, mobile-centric, highly configurable credit card solution, Deserve is powering the future of fintech. Using machine learning and alternative data, Deserve partners with universities, associations, financial institutions, fintechs, and modern consumer brands to develop, rapidly deploy and power white label and co-branded credit card programs for any audience. Deserve is a venture-backed fintech company whose investors include Goldman Sachs, Sallie Mae, Accel, Pelion Venture Partners, Acrew Ventures, and Mission Holdings.
About the role:
The Deserve BSA/AML Officer is responsible for developing, administering, and maintaining an effective BSA/AML program. The BSA/AML The BSA/AML Officer (BSAO) will have direct influence and oversight over key program elements, including: CIP, OFAC, USA PATRIOT Act, CDD/EDD, Transaction Monitoring, Questionable Activity Reporting (QARs), 314(a) review, etc. This position requires well-developed interpersonal skills, an ability to work in a fast-paced environment and operate in a manner reflective of the mission and credibility of the organization.
Duties:
- Testing and validating Deserve’s Customer Identification Program, as well as identifying and mitigating BSA/AML risks and red flags as they relate to the Deserve Portfolio.
- Managing BSA/AML Investigations and other day-to-day Compliance activities
- Developing the Deserve BSA/AML and Sanctions Policies and Procedures to address new and emerging risks at both company and industry level
- Creating and maintaining BSA/AML Vendor Relationships, and managing BSA/AML Third-Party
- Reviewing QARs and escalating possible BSA/AML violations to Management and the Board of Directors
- Interfacing with Deserve’s processors (and other third parties as necessary) to identify high risk transactions and fraud trends, mitigate company risk and avoid to the extent possible financial loss
- General reporting to Board and Management
- Responding to Regulatory Examinations and/or audits on behalf of the company
- Ensure proper staffing needs