Fintech BSA Analyst
2 weeks ago
The Fintech BSA Analyst will support the Fintech BSA Oversight team and lead the BSA Initial Review, ongoing Fintech Oversight Review, Critical Service Provider (CSP) Review, and KYC Manual Review programs as directed by the Head of Fintech BSA Oversight team. This will include working closely with the broader Third-Party Risk Oversight Program and collaborating with the Open Banking team.
The Fintech BSA Analyst will be focused on leading the reviews of direct and indirect fintechs, aggregators, and independent sales organizations (ISOs), collectively partners, and CSPs, including their policies, procedures, in-house or third-party vendor solutions, and other supplementary documentation. The individual will have a deep understanding of BSA/AML and CTF laws, the current regulatory climate, and be well-versed within fintech Open Banking. The Fintech BSA Analyst will demonstrate strong, competent knowledge of current regulatory requirements, relevant financial industry knowhow, a deep understanding of Evolve Bank & Trust's standards, and excel in communicating this both verbally and written to partners, CSPs, management, and other departments within the bank.
Main Job Tasks and Responsibilities:
- Lead partner and CSP reviews to confirm regulatory compliance and adherence to Evolve's standards through independent, accurate, and critical review of policies and procedures.
- Represent Evolve during implementation of partners to include:
- Understand partner's business model, geographic area served, customer base, products and transaction channels offered, and risk.
- Perform timely reviews of partner BSA Program, policies, procedures, risk assessments and other required documentation.
- Conduct customer onboarding testing.
- Conduct ongoing reviews of partner compliance to BSA/AML/OFAC regulation and bank standards:
- Know Your Customer (KYC)/ Know Your Business (KYB), OFAC, Use Case, and Fraud logic.
- Track partner responses and outcomes to resolution.
- Assist in monitoring of onboarding trends across partners and proactively gathering information to support this process.
- Develop working relationships with partner contacts, third party vendors, and internal counterparts.
- Display effective partner communication, leading meetings, and working collaboratively to support the partner in meeting requirements, modifying existing policies, or tuning workflows or rules with in-house or third-party vendor solutions to improve identity verification, transaction monitoring, and fraud detection.
- Identify BSA or bank related risk, handle issues independently, and escalate appropriately to management during the review process.
- Support coworkers, management, and BSA Officer as needed in development of program, suggesting improvements when necessary, and following outlined procedures.
- Assist broader Fintech BSA Oversight team with:
- Cross train/knowledge share with all teammates.
- Assist with special projects within the department as the need arises.
- Perform additional duties as assigned.
- Follow and comply with all regulatory and compliance regulations.
- Aid in maintaining scalable Fintech BSA Oversight procedures, manage procedure repository, develop and brand applicable digital or PDF bank forms, and adhere to the established system of tracking and reporting on reviews.
- Manage multiple expectations, drive productivity, answer questions, and resolve issues of partners, Fintech BSA Oversight management, and other bank departments accurately and articulately via meeting and email in a highlycustomer-facingrole.
- Bachelor's Degree or equivalent with 2-5 years Financial Technology Onboarding, BSA, or Compliance experience in a sponsor bank preferred, or:
- 5-7 years experience in banking.
- 5-7 years experience in BSA/AML/OFAC compliance role.
- 1-3 years experience with AML transaction monitoring software implementation
- CAMS certification or willingness to obtain certification preferred.
- Experience withanalyzingcomplex company legal structures and use cases.
- Experience conducting routine reviews or audits of fintech, bank compliance, and/or third party vendor programs, including conducting gap analyses on policies and procedures, understanding in-house or third party vendor solutions, assessing the findings of independent BSA/AML Audits, and leading Know Your Customer (KYC)/ Know Your Business (KYB) Audits.
- Thorough knowledge of Bank Secrecy Act, USA Patriot Act, OFAC, and related regulations.
- Ability to explain BSA concepts with confidence: AML, CIP, KYC, CDD, EDD, OFAC, SAR.
- Knowledge of fintech business dynamics and use cases.
- Ability to assist with the development, creation, and improvement of systems, structures, and processes.
- Knowledge of electronic transactions – ACH, debit and credit network.
- Personal initiative and ownership of productivity outcomes.
- Strong analytical skills and ability to resolve complex problems with minimum guidance.
- Problem solving attitude with the ability to be creative and flexible while still meeting requirements.
- Effective time management, planning, and organizational skills with proven accuracy.
- Ability to manage multiple tasks, projects, and deadlines simultaneously.
- Strong investigative and research skills involving customer and transactions using core system, AML software, social media, or internet.
- A motivated individual who thrives in a dynamic, open-plan work environment.
- Ability to gather, organize, interpret, and communicate information in a timely, accurate, courteous, and professional manner.
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