Senior BSA/AML & OFAC Compliance Lead

Advantage Insurance; San Juan (PR); On-site; USD 110,000 - 170,000; Full time

Job summary

Advantage Insurance in Puerto Rico seeks a Compliance Manager to support the Chief Compliance Officer in administering and enhancing BSA/AML and OFAC programs across PPLI, PPVA, and IFE operations.

You will lead day-to-day compliance operations, supervise staff, and implement risk-based controls to detect money laundering, sanctions violations, and other financial crimes while advising underwriting, operations, and senior management.

Qualifications

• Bachelor's degree required; majors in Accounting or Finance strongly preferred.
• Minimum of 10 years of AML/BSA, OFAC, compliance, legal, regulatory, or financial crimes experience.
• Demonstrated experience managing compliance programs.
• Demonstrated experience leading and developing compliance teams through effective coaching, performance management, and employee development.
• Experience supporting HNW and UHNW clients and complex ownership structures.

Responsibilities

• Oversee day-to-day BSA/AML, OFAC, and financial crimes compliance activities.
• Develop, enhance, and maintain compliance policies, procedures, and controls.
• Lead periodic BSA/AML, OFAC, and country risk assessments.
• Prepare reports for executive management and compliance committees.
• Serve as Secretary of the local Compliance Committee.
• Supervise customer due diligence (CDD), enhanced due diligence (EDD), source of wealth, source of funds, and beneficial ownership reviews.
• Review high-risk relationships involving trusts, foundations, family offices, offshore entities, private investment companies, and politically exposed persons (PEPs).
• Supervise compliance monitoring, investigations, testing, requests for information (RFIs), and quality control activities.
• Review suspicious activity investigations and make recommendations regarding regulatory reporting and escalation.
• Coordinate regulatory examinations, independent testing engagements, and audits.
• Provide compliance guidance to underwriting, operations, finance, distribution partners, and senior management.
• Participate in new product reviews, new business initiatives, and regulatory change management efforts.
• Directly supervise Senior Compliance Associates and Compliance Associates, including coaching, performance management, and professional development.
• Foster a culture of accountability, collaboration, and continuous improvement within the compliance function.

Skills

BSA/AML expertise

OFAC regulations

Regulatory compliance

English & Spanish communication

Risk assessment

Leadership & coaching

Education

Bachelor's degree in Accounting or Finance

Juris Doctor (JD) preferred

ACAMS/CPAML/CRCM preferred

Tools

Enhanced Compliance System

World-Check

FedLink

Microsoft Office

Job description

Advantage Insurance in Puerto Rico seeks a Compliance Manager to support the Chief Compliance Officer in administering and enhancing BSA/AML and OFAC programs across PPLI, PPVA, and IFE operations.

You will lead day-to-day compliance operations, supervise staff, and implement risk-based controls to detect money laundering, sanctions violations, and other financial crimes while advising underwriting, operations, and senior management.