GENERAL FUNCTION: Working with the AML Officer to provide support for the AML Department regarding the Bank Secrecy Act, USA Patriot Act, Customer Information Program, and Office of Foreign Assets Control specifically relating to our Payments and Fintech clients. This individual will regularly communicate with the AML Officer, Operations and Third-Party Risk Manager, and Payments and Fintech clients. As the AML Fintech Manager, you will be responsible for managing the BSA/AML monitoring of our Payments and Fintech clients. This role requires a hands-on manager who can automate manual workflows, manage the periodic testing framework across all clients, and ensure all parties are compliant and meeting contractual obligations.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
The following is a list of essential functions, which may be subject to change at any time and without advance
notice. Management may assign new duties, reassign existing duties, or eliminate a function.
-
Responsible for the enhancement and oversight of specific AML functions relating to the Bank’s Payments and Fintech clients.
-
Manage and test the adequacy of AML programs of Payment and Fintech clients, which includes completing necessary documentation and escalation of findings.
-
Maintain AML procedures related to monitoring Payment and Fintech clients and updating as necessary.
-
Maintain risk ratings of Payments and Fintech customer base and manage enhanced due diligence reviews of higher risk clients.
-
Work on complex issues where analysis of situations or data requires an in-depth evaluation of variables as it is related to Payment and Fintech clients.
-
Coordinate and complete annual BSA/AML & OFAC Fintech Risk Assessments for the AML Officer.
-
Lead a team of AML Analysts in transaction monitoring, enhanced due diligence reviews, onboarding reviews, and periodic testing of Payments and Fintech clients within the BSA regulatory framework.
-
Work collaboratively with appropriate Bank staff to understand the Payment and Fintech customer base.
-
Participate in specialized projects, regulatory examinations or independent validations or reviews.
-
Partner with IT, Business Solutions, and Payments and Fintech teams to automate transaction monitoring systems and refine risk-based alert thresholds to minimize false positives.
-
Be knowledgeable on all aspects of the Bank’s AML/CFT Program and be prepared to answer questions from all departments and Bank staff regarding these requirements.
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:
-
Minimum of five years in AML compliance or financial investigations, with at least 2 years in a management role. Direct experience in fintech, payments, or crypto is highly preferred.
-
Bachelor’s degree or equivalent work experience
-
CAMS certified or in the process of obtaining CAMS certification or other AML/Fraud related certification
-
Proficiency in data analysis and experience with modern financial compliance tools.
-
Flexible and possess the ability to manage multiple projects simultaneously.
-
Detail oriented, self-starter, proactive and resourceful in problem-solving.
-
Proficient with Microsoft products with strong skills in internet-based and system-based research techniques, e-mail communications and ability to learn other related software applications as required.
-
Excellent organizational skills and the ability to work in a fast-paced environment.
-
Excellent communication skills required (oral and written).
Qualifications
ADDITIONAL RESPONSIBILITIES:
Every employee of Republic Bank is responsible for knowing and practicing Bank Secrecy Laws (AML/CIP/SAR/CTR/OFAC), the USA Patriot Act, and other related regulations as they relate to their specific job function. Training will be provided during your Introductory Period and annually thereafter. If you need additional training, you are responsible for contacting your immediate supervisor.
WHAT WE OFFER
As part of our commitment to your physical, emotional, and financial wellbeing, we proudly provide a comprehensive benefits package, which includes:
-
A competitive salary range estimated at $98,000 - $132,000 annually for this position. (Final compensation may vary based on experience, skills, and qualifications)
-
Generous Paid time Off (PTO) to help you rest, recharge, and take care of what matters most
-
Health, dental, and vision insurance with tax-advantaged FSA and HSA account options
-
Retirement benefits including 401k plan with discretionary matching contributions.
-
Childcare assistance program to support working parents and their eligible dependents
-
Parental Leave for both primary and secondary caregivers
-
Short-term and long-term disability coverage for long-term income security
-
Basic Life and AD&D insurance with elective additional coverage for you, your spouse, or children
-
Mental health & wellness benefits including bank-paid Headspace meditation app subscription and access to our Employee Assistance Program
We look forward to working with you and to the contributions you will make to Republic Bank of Chicago, as well as the opportunity to provide you with professional growth. However, we recognize that you retain the option, as does Republic Bank of Chicago, of ending your employment with us at any time, with or without notice and with or without cause. As such, your employment with Republic Bank of Chicago is at-will and neither this job description nor any other oral or written representations may be considered a contract for any specific period of time.
Similar Jobs
What you need to know about the Chicago Tech Scene
Key Facts About Chicago Tech
- Number of Tech Workers: 245,800; 5.2% of overall workforce (2024 CompTIA survey)
- Major Tech Employers: McDonald’s, John Deere, Boeing, Morningstar
- Key Industries: Artificial intelligence, biotechnology, fintech, software, logistics technology
- Funding Landscape: $2.5 billion in venture capital funding in 2024 (Pitchbook)
- Notable Investors: Pritzker Group Venture Capital, Arch Venture Partners, MATH Venture Partners, Jump Capital, Hyde Park Venture Partners
- Research Centers and Universities: Northwestern University, University of Chicago, University of Illinois Urbana-Champaign, Illinois Institute of Technology, Argonne National Laboratory, Fermi National Accelerator Laboratory
