Western Union Business Solutions ("WUBS") is the world's leading foreign exchange and international business payments and receipts specialist. Through its subsidiaries and branches, WUBS operates in the Americas, Asia, Europe, Australia, the Middle East and Africa and the United Kingdom. Travelex strives to make global payments and receipts easy for businesses of any size worldwide. It offers business-to-business payment and receipt solutions through an intuitive online platform that integrates directly with clients' systems and helps clients manage their currency exposure. The company currently services over 40,000 clients around the world and processes more than $40 billion payments annually to more than 1 million beneficiaries. A successful candidate for this position will have thorough knowledge of regulatory compliance and provide oversight of all compliance and regulation matters, including licensing provisions. The Director, AML Compliance will ensure that all risk is appropriately identified, documented and when possible mitigated. Additionally, you will promptly advise senior management of any significant compliance issues.
1. Develops and oversees implementation of corporate wide policies and procedures to ensure compliance with applicable laws and regulations for North America, including all requirements by each State and Province in which WUBS operates, including but not limited to the organization's Code of Conduct, Office of Foreign Asset Control (OFAC), Anti-Money Laundering (AML) Program, Fraud Prevention and Agent Oversight Programs.
2. Apprises and advises senior management of:
The impact of pending and existing regulatory requirements on WUBS's operations.
Results of internal and external audits and regulatory examinations and the status of corrective actions taken to resolve any deficiencies/findings noted.
Status of the compliance program overall and exceptions to compliance policies and procedures.
Suspicious Activity Reports (SARs) filed.
3. Meets with the WUBS Audit Committee and Board of Directors on a periodic basis to brief the Committee and Board on appropriate subjects such as SARs filed, compliance challenges, issues, and program enhancements.
4. Assists in managing all state license filing requirements along with all regulatory examination processes.
5. Oversees development of a corporate action plan to promptly address any audit or regulatory findings and monitors resolution status.
6. Develops and maintains liaison with government agencies and industry trade associations and compliance professionals, to keep abreast of and/influence new developments or actions under consideration that may impact WUBS operations.
7. Ensures that independent reviews of AML and other compliance programs are done in a timely manner.
8. Renders guidance to and answers compliance questions from WUBS business units and staff.
9. Assists in developing, updating and delivering the compliance training curriculum and works with the Human Resources Department to deliver compliance training to employees.
10. Develops and maintains a record retention schedule to comply with regulatory requirements.
Minimum 5 to 7 years experience in compliance and compliance management, with a small to mid-sized financial institution, preferably an International Money Services Business.
Pro-active, compliance generalist with substantive experience in Bank Secrecy Act (BSA), Anti- Money Laundering and OFAC compliance requirements.
Strong management, negotiating, communication and implementation skills for complex, cross-organizational compliance program implementation, in a multi-cultural environment.
Ability to lead groups and to present complex information in understandable terms to non-experts.
Minimum B.A. required. J.D. degree or CPA certification helpful but not required.
With a 160-year history of connecting people when it matters most, Western Union continues to shape the world in which we live. Western Union offers one of the easiest ways for families and friends to send money and stay connected almost anywhere in the world. It all comes down to the relationships we've established over many years. We take pride in being close to our consumers. Together with our Agents, we speak our consumers' languages and live in our consumers' neighborhoods. And we share our consumers' cultures. We are a significant part of each other's lives.As a result, our Agents and employees are more like ambassadors. They are ambassadors of trust. Ambassadors of responsibility. And ambassadors of hope. They are the living, breathing manifestation of who we are as a company and everything we stand for: Integrity. Partnership. Opportunity. Passion. Teamwork.
Western Union - 20 months ago