Financial Crimes Compliance (FCC) Risk Manager

WebBank

WebBank (the “Bank”) is a Utah-chartered Industrial Bank headquartered in Salt Lake City, Utah. As “The Bank Behind the Brand®”, WebBank is a national issuer of consumer and small business credit products through Strategic Partner (Brand) platforms, which include retailers, manufacturers, finance companies, software as a service (SaaS), and financial technology (FinTech) companies.  The Bank is a leading player in the digital lending space, driving innovation in financial products through embedded finance with Strategic Partner platforms.  WebBank engages in a full range of banking activities, including consumer and commercial loan products, revolving lines of credit, credit cards, private-label card issuance, auto-refinancing, and more. The Bank provides capital in the form of asset-backed lending and other credit facilities to Strategic Partner platforms, credit funds, and other lenders with a targeted focus on specialty finance assets. The Bank is also a leading provider of commercial insurance premium finance products through its wholly owned subsidiary, National Partners.

Job Summary

WebBank’s FCC Risk Manager reports to the BSA Officer and provides advisory and consultative services to potential and existing WebBank Strategic Partner relationships in the areas of Know Your Customer (KYC), Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Assets Control (OFAC) and other related compliance areas.  This position also engages in first-line BSA Operations such as the review and filing of Suspicious Activity Reports, 314A screening, and OFAC screening.

The successful candidate will play a key role in supporting compliance oversight for emerging products, including WebBank’s new debit offering, ensuring appropriate FCC governance is embedded from onboarding through post-launch monitoring.

Primary Responsibilities

• Ensure partners are effectively supporting all BSA Pillars through periodic testing, audits, reviews, site visits, etc.
• Establish and maintain a good working relationship with current and prospective Strategic Partners and the Bank’s due diligence and implementation management and staff to obtain key risk and performance indicators from Strategic Partners and identify and resolve issues.
• Perform engagement management responsibilities, including risk assessments, control design performance reviews, coverage assessments, task delegation, project scheduling, quality review and partner management.
• Manage, develop, train, coach and mentor Bank personnel, current, and potential partner personnel on all aspects of BSA/AML and OFAC Compliance.
• Partner Initial and Onboarding Due Diligence:
  • Review staffing assessment to determine whether it is adequate to support FCC operations
  • Maintain and govern operational process related to customer due diligence and enhanced due diligence, CIP collect and verification, Transaction Monitoring AML/Fraud, and watchlist screening (OFAC, 314a, PEP etc.)
  • Assess prospective Strategic Partner’s AML/CFT/OFAC/Fraud control design as part of the Bank’s onboarding due diligence process
  • Perform coverage assessment of controls to threats
  • Review systems and models used across FCC systems, including those used for list screening and transaction monitoring
  • Perform regular testing of alerted transactions
  • Perform periodic counterparty testing
  • Perform expected versus actual activity reviews
  • Perform post-launch validation testing
  • Provide training as necessary

Minimum Requirements

• Bachelor's degree and/or 3+ years of related work experience in a similar BSA/AML Due Diligence practice or function servicing cross-industry products.
• Excellent verbal and written communication skills
• Examination experience or knowledge with one or more of the following agencies (FRB, OCC, FDIC, FinCEN, or SIFMA)
• Solid knowledge of AML and OFAC regulations
• Extensive experience working with and providing advice on KYC / AML and OFAC Sanctions programs
• Solid knowledge of 3 lines of defense
• Ability to work additional hours and/or travel as needed.

Preferred Requirements

• Graduate Degree
• Experience supporting compliance programs for debit, prepaid, or other non-credit payment products.
• Fintech partnership experience with a sponsor bank
• CAMS, CAMS-Audit, CRCM or ACFCS certification
• 5+ years of related work experience in a similar BSA/AML Due Diligence practice or function servicing cross-industry products
• Prior managerial experience
• Ability to travel up to 25%
• Has solid hands-on experience working in the following areas:
  • SAR quality assurance and approval
  • OFAC, 314A and PEP screening
  • Independent reviews
  • AML and OFAC risk assessments
  • Customer risk rating model development
  • Transaction model and OFAC filter model risk assessments
  • Process improvement initiatives (KYC, FIU)
  • Policy & procedure development
  • Alert clearing and investigations
  • Vendor solutions in KYC, Transaction Monitoring, Case Management or OFAC

Company Perks:

You Get:

• Paid Time Off (PTO) - Generous paid time off plus paid parental leave
• Health insurance – Plans include an employer-paid medical option, dental and vision coverage, plus we offer health savings accounts
• 401(k) – WebBank matches up to the first 6 percent of employee contributions, and both the employee’s contributions and WebBank’s match are fully vested immediately
• Life and Disability Insurance – Life insurance and long-term and short-term disability insurance plans are 100% employer-paid
• Tuition Reimbursement – WebBank provides reimbursement for classes needed to obtain certain degrees, up to $5,250 per academic year