AML Compliance Specialist - Commercial Payment Services
Job description
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Who we are:
Shape a brighter financial future with us.
Together with our members, we're changing the way people think about and interact with personal finance.
We're a next-generation fintech company using innovative, mobile-first technology to help our millions of members reach their goals. The industry is going through an unprecedented transformation, and we're at the forefront. We're proud to come to work every day knowing that what we do has a direct impact on people's lives, with our core values guiding us every step of the way. Join us to invest in yourself, your career, and the financial world.
The role:
The AML Compliance Specialist - Commercial Payment Services role will be responsible for conducting independent reviews and analysis of potentially suspicious AML activity. The AML Compliance Specialist will conduct thorough research into activity which may raise AML red flags, and document their analysis and conclusions within the SoFi case management system to support their investigations and dispositions. Further, they will be responsible for filing SARs as applicable.
What you'll do:
Conduct AML investigations to evaluate whether alerts or cases are risk-relevant and warrant a SAR filing
Ensure alert and case determinations are appropriate, fully supported, and clearly documented
Conduct Continuing Activity Reviews based on prior SAR filings and determine whether a subsequent filing is appropriate based on facts and circumstances
Conduct investigations related to 314(b) requests, complex investigations, and law enforcement inquiries as necessary
Maintain a thorough comprehension of AML typologies related to Commercial Payment Services and Banking as a Service offerings.
Conduct research utilizing various internal and external systems, databases, and the internet, consistent with the resolution of investigations
Provide use-case experience to enhance detection and prevention of potentially suspicious activity
Support management in the implementation of Commercial Payment Services controls and the buildout of requisite policies and procedures
What you'll need:
Bachelor's Degree from a four-year college or university in a related field
3-5 years of experience in the finance industry focusing on AML transaction monitoring, preferably with a focus on Commercial Payment Services
Demonstrated ability to communicate effectively with all levels of the organization and across different business lines
Demonstrable skill with each phase of an AML Investigation (e.g. alerts, case investigations, Suspicious Activity Reporting)
Strong working knowledge of Commercial Payment Services red flags and suspicious activity
Maintain up-to-date knowledge of BSA/AML laws and regulations relative to money laundering, fraud, and terrorist financing and the ability to apply this knowledge in assessing transaction activity
Specific skills in:
Experience with Commercial Payment Services and AML transaction monitoring
Excellent organizational, verbal, written and interpersonal skills are required
Must be able to multitask, adapt well to changing priorities and effectively prioritize workflow to meet critical deadlines
Ability to work in a fast-paced, demanding, and changing environment; must work well under pressure
Excellent analytical skills required
Experience handling AML-related audits, testing, quality assurance responsibilities focused on assessing BSA/AML and sanctions risk management control effectiveness
Nice to have:
CAMS/CFE certification preferred (or willingness to become certified within one year of start date)
Understanding of common payment and funds transfer methods and networks, their functioning and their liability rules such as card networks, ACH network, check processing, P2P, wire transfers, etc
SoFi provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth and related medical conditions, breastfeeding, and conditions related to breastfeeding), gender, gender identity, gender expression, national origin, ancestry, age (40 or over), physical or medical disability, medical condition, marital status, registered domestic partner status, sexual orientation, genetic information, military and/or veteran status, or any other basis prohibited by applicable state or federal law.
Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.
New York applicants: Notice of Employee Rights
SoFi is committed to embracing diversity. As part of this commitment, SoFi offers reasonable accommodations to candidates with physical or mental disabilities. If you need accommodations to participate in the job application or interview process, please let your recruiter know or email accommodations@sofi.com.
Due to insurance coverage issues, we are unable to accommodate remote work from Hawaii or Alaska at this time.
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