Director, BSA Compliance Product & Development

Location

Pleasant Grove, UT | United States

Job description

Summary:

The Director, BSA Compliance Product and Development is responsible for leading the research, development, implementation, and management of new and existing products and programs designed to automate and enhance the Bank's BSA/AML oversight of fintech partnerships. The incumbent will exercise collaboration and innovation to develop and maintain sound and robust products and programs, including regulatory adherence, metrics, and governance. The incumbent will report directly to the BSA Officer.

Responsibilities:

• Lead and Innovate: Lead the end-to-end management and innovation of the Bank's regulatory technology (RegTech) applications and software, working with stakeholders and third-party vendors, from conceptualization through launch and ongoing program management.
• Stakeholder Collaboration: Collaborate closely with Senior Leadership, Compliance, IT, and Strategic fintech Partners to ensure alignment and seamless integration of the BSA Compliance platform with our existing infrastructure. Communicate effectively with regulatory bodies to describe the compliance product suite and its position within the Bank's overarching BSA Program.
• Decision-Making Expertise: Provide strategic direction to the Bank through collaboration with stakeholders, third-party providers, and developers, to maximize the use of software automation, machine learning, and good data architecture in making the oversight process of fintech partnerships more efficient and scalable.
• Robust Governance: Establish and implement robust policies, procedures, and reporting mechanisms to rigorously monitor, evaluate, and test the performance and compliance of models, logic and rulesets used in AML software. Ensure data transferred to and stored by the Bank, either internally or through a cloud provider, is secure.

• Product Strategy and Planning: Work with stakeholders to define and execute the strategic direction for our RegTech software solutions, setting clear objectives and key results (OKRs) that align with our business goals. Work with third-party providers and developers as necessary on the data architecture strategy, and execute this strategy with our external customers.

• Holistic Alignment: Liaise with Compliance, Strategic Partners, IT, third-party vendors, and developers to ensure seamless alignment of our RegTech solutions, with broader business goals and their smooth integration within existing infrastructure.
• New Product Compliance Evaluation and Development: Collaborate with Compliance, Strategic Partners, and Customers, incorporating feedback into the product design process, ensuring our RegTech platforms are user-friendly and meet the needs of both internal and external customers.

• Regulatory Change Management : Stay abreast of regulatory changes that may impact the Bank and its use of risk and compliance vendors, particularly in relation to the oversight of strategic fintech partnerships, assessing their impact on existing applications, and proactively implementing adjustments as necessary.
• Project Lifecycle Management: Develop and continuously improve upon the end-to-end onboarding and transition of fintech partner data to our RegTech solutions, for both new and existing customers, including creating project planning templates, resource allocation standards, and project management.
• Customer Engagement: Establish and maintain strong relationships with internal and external customers during the implementation phase and the ongoing use of the RegTech solutions, ensuring their needs and expectations are understood and addressed promptly.
• Issue Management: Triage, prioritize, and escalate complex onboarding, implementation, and/or data management issues with the RegTech solutions, proactively identifying potential roadblocks and finding effective solutions to overcome them.

• Data-Driven Optimization: Regularly assess software program performance metrics, leveraging data-driven insights to make informed decisions aimed at continuous improvement, ensuring optimal value delivery to both internal and external customers.

Required Skills and Specifications:

• Expertise in Fintech Ecosystem: Experience in the fintech or financial services product management area, showcasing comprehensive experience in technical and project management domains.

• Technical Expertise: Proven ability to quickly learn new technologies and understand complex systems (APIs, databases, reporting tools, etc.) Familiarity with microservices architecture and modern product development methodologies.

• Project Leadership: A proven track record of leading complex projects, demonstrating your leadership skills in delivering transformative initiatives in collaboration with diverse teams.
• Communication Excellence: Exceptional communication and presentation skills to articulate complex concepts clearly to both technical and non-technical stakeholders.
• Analytical and Curious: Strong analytical and problem-solving skills that are driven by a curious mindset and a passion for continuous learning.
• Initiative and Drive: A demonstrated self-starter who can effectively drive projects to completion, and the ability to take ownership and make tangible impact.
• Product Development Mastery: A strong understanding of product development lifecycles, methodologies, and best practices, enriching the ability to steer strategic initiatives.

Preferred Skills and Specifications:

• Familiarity with BSA Requirements: Understanding of BSA regulatory requirements and the practical aspect of their application on both traditional banking and fintechs, serving as a specialist liaison between BSA Compliance and technical counterparties.

• Regulatory Proficiency: Comprehension of regulatory compliance requirements is preferred, encompassing anti-money laundering, KYC/KYB, fraud and transaction monitoring, sanctions, consumer protection, and a comprehensive compliance management system.

• Industry-Specific Experience: Experience within the FinTech landscape or with Bank Sponsorship models, familiarity with the unique dynamics of these environments.
• Educational Background : A degree in Computer Science, Data Science, Engineering, Business, Legal or a related field are preferred and will assist in providing insights for innovative product development.
• Industry Insight: Experience in Payments, BaaS, SaaS, BSA regulations, or the broader fintech sector bringing valuable perspective to the development of cutting-edge deposit solutions.
• Tools and Systems: Proficiency with product/project management systems such as Monday.com, Confluence, and Jira, enabling effective project coordination and communication. Experience with transaction monitoring/case management platforms such as NICE Actimize, Verafin, and Unit21, as well as financial crime typologies, rulesets, and relevant customer/transaction data. Knowledge of database management and standard data architecture is a plus.

Benefits:

Benefits package includes Health, Dental and Vision insurance, 401(k) with company match, life and disability insurance, supplemental insurance, EAP, wellness reimbursement program, phone reimbursement, PTO and performance based quarterly bonus program.

We are an Equal Opportunity Employer. We do not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, non-disqualifying physical or mental disability, national origin, veteran status or any other basis covered by appropriate law. All employment is decided on the basis of qualifications, merit, and business need.

Job tags

Salary

$75k - $95k