VP, Mastercard Transaction Services, US BSA/AML Officer

Mastercard; Purchase (NY); On-site; USD 90,000 - 150,000; Full time

Job summary

An established industry player is seeking a seasoned Bank Secrecy Act Officer to enhance its compliance framework. This high-profile role involves driving the compliance strategy, conducting risk assessments, and ensuring adherence to the Bank Secrecy Act and US Patriot Act regulations. The successful candidate will work with a diverse team, influence senior stakeholders, and lead regulatory examinations. If you are passionate about compliance and have a strong operational background in the financial sector, this is an exciting opportunity to make a significant impact in a dynamic environment.

Qualifications

• Experience as a BSA Officer in a Bank or Payment Institution is ideal.
• Deep operational understanding of BSA and US Patriot Act regulations.

Responsibilities

• Drive compliance strategy and manage BSA control framework.
• Conduct risk assessments and ensure compliance with regulations.
• Lead regulatory examinations and audits for MTS US.

Skills

Bank Secrecy Act (BSA)

USA Patriot Act

Risk Assessment

Compliance Program Management

Stakeholder Communication

Customer Due Diligence

Education

Bachelor's Degree in Finance or Law

Certification in Compliance (e.g., CAMS)

Job description

Job Title: VP, Legal Compliance, Bank Secrecy Act Officer

Overview:

MTS US is the authorised and regulated entity within Mastercard Transaction Services (MTS) through which regulated payments activity is undertaken for our US based Customers and others around the world. MTS is a division within Mastercard that undertakes payments business wherever a Product or Business function requires regulated support.

MTS is looking for a Bank Secrecy Act (BSA) Officer to drive our customer experience strategy forward by consistently innovating and problem-solving. The ideal candidate is passionate about the customer experience journey, highly motivated, intellectually curious, analytical, and possesses an entrepreneurial mindset.

The Role:

MTS US serves customers based in the USA, and also a number of other countries around the world. The role will require you to work as part of a geographically diverse team and as part of a matrix structure serving a few stakeholders across MTS and the wider Mastercard organisation. This is a high-profile role that requires excellent, clear and articulate communication skills and the ability to influence senior level stakeholders in a convincing manner. MTS is poised for further expansion and now requires a seasoned BSA Officer to take the BSA control framework to the next level.

1. Reports and works closely with the MTS Chief Compliance Officer to determine the effectiveness of the Compliance Program and its ability to identify, detect, deter and report suspicious activity.
2. Review laws and regulations that impact the MTS compliance requirements, with emphasis on Bank Secrecy Act (BSA/AML), USA Patriot Act, and OFAC.
3. Undertake comprehensive risk assessments to determine BSA/AML and other risk exposures through collaboration with other functions to develop mitigating controls as required.
4. Maintain compliance policies, programs, and procedures current and ensure annual review by the Board of Directors as necessary.
5. Ensure all staff up to and including the Board are adequately trained in the Bank Secrecy Act, Patriot Act and other relevant legislation.
6. Disseminate information, answer questions, and be a subject matter expert for MTS on BSA/AML/OFAC-related issues.
7. Lead MTS US regulatory examinations and audits, including gathering requested information and developing and coordinating responses to such reviews as necessary.
8. In some instances, conduct customer due diligence and where necessary enhanced due diligence of customer relationships to determine risk and mitigating controls.
9. Review regulatory findings against other financial institutions for lessons learned, share with the Board and complete gap analysis against MTS as necessary.
10. Contribute, as a key member of the Compliance leadership team, to the development and implementation of the wider compliance strategy including Staffing.

All About You:

Ideally, you will already have served as a BSA Officer in the US for a Bank, E-money firm, MSB or Payment Institution. However, if you have never served, the important factor is having a deep operational understanding of the Bank Secrecy Act and the US Patriot Act, including how to apply the regulations in a practical manner to the development, implementation and operation of a robust compliance framework including risk assessment, policy development, Board reporting and interaction, controls testing, training development and roll out, and audit co-ordination.

At an operational level, you will be asked to assess higher risk customers, and if necessary, conduct on site reviews and implement efficient and effective controls to be applied to minimize the risk to the business. As the face of the Compliance function, you will be asked to present the compliance requirements in front of Business Development colleagues, counterparties, auditors and regulators.

Corporate Security Responsibility:

Every person working for, or on behalf of, Mastercard is responsible for information security. All activities involving access to Mastercard assets, information, and networks comes with an inherent risk to the organization and therefore, it is expected that the successful candidate for this position must:

• Abide by Mastercard’s security policies and practices;
• Ensure the confidentiality and integrity of the information being accessed;
• Report any suspected information security violation or breach, and
• Complete all periodic mandatory security trainings in accordance with Mastercard’s guidelines.

NOTE: Candidates go through a thorough screening and interview process.