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Director, AML Testing Compliance



United States
Posted on Saturday, May 6, 2023

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The role:

The Director, AML Testing Compliance will lead a team of compliance professionals to support independent monitoring and testing of Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) and sanction-related risks and associated controls across the SoFi enterprise, including SoFi Bank. N.A. The candidate should have deep functional knowledge of applicable U.S. banking laws and regulations with specific emphasis on BSA/AML and sanctions laws and regulations. Additionally, having a comprehensive understanding of the U.S. regulatory environment, FFIEC driven regulatory supervision requirements, including examination procedures and standards, risk identification / mitigation controls; and managing the workflows for transaction monitoring / customer screening and testing engagements is essential.

What you'll do:

  • Lead a team of testing professionals to ensure the accurate and timely execution of all monitoring and testing deliverables.

  • Develop the annual test plan and oversee the execution of each individual testing review.

  • Support the development and refinement of AML monitoring and testing scripts.

  • Prepare information requests and announcement memoranda.

  • Perform assigned field work to validate the efficacy of internal controls and direct oversight of the testing team and their assignments.

  • Ensure that cohesive work papers are prepared for each engagement in accordance with the Compliance Department standards.

  • Identify underlying issues and escalate / validate them with applicable stakeholders.

  • Draft issue memoranda and reports for issuance to senior management.

  • Assist in the registration and tracking of identified issues and corrective action plans to validate remediation efforts.

  • Advise team members with respect to applicable regulatory requirements to ensure testing is adequately designed to identify potential control gaps and non-compliance with laws and regulations

  • Stay abreast of changing regulatory requirements to ensure testing is adequately designed to identify potential control gaps and non-compliance with laws and regulations.

  • Assist in the consolidation and reporting of results for executive reporting and committees.

What you'll need:

  • Bachelor’s Degree required; Advanced Degree and/or Certifications, is preferred.

  • 6+ years of experience in Testing, Quality Assurance, and/or Audit in a regulated financial institution or as a bank examiner focused on assessing AML/Sanctions risk management, with demonstrated track record of increasing management responsibilities.

  • Certified Anti-Money Laundering Specialist (CAMS), or Certified Internal Auditor designation preferred (or willingness to obtain within one year of start date).

  • Financial services experience and knowledge of banking products required.

  • Strong foundational knowledge of U.S. banking laws and regulations with emphasis on BSA/AML and sanctions laws regulations.

  • Excellent written, verbal, and presentation skills; adept at presenting complex issues to senior management.

  • Strong desire to demonstrate sound judgment by continually delivering a quality and meaningful work product in a timely and efficient manner.

  • Strong interpersonal and communications skills to successfully interface with all levels of management and maintain solid working relationships.

  • Ability to manage multiple assignments and reprioritize as circumstances may dictate.

  • Proven management skills and advocating team development.

  • Maintain a regulatory compliance risk mindset to understand underlying risks and weaknesses to properly mitigate such risks.

  • Technical competency of applicable laws and regulations and application thereof during monitoring and testing engagements.

  • Strong analytical skills and attention to detail.

Compensation and Benefits
The base pay range for this role is listed below. Final base pay offer will be determined based on individual factors such as the candidate’s experience, skills, and location.
To view all of our comprehensive and competitive benefits, visit our Benefits at SoFi page!
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
Due to insurance coverage issues, we are unable to accommodate remote work from Hawaii or Alaska at this time.
Internal Employees
If you are a current employee, do not apply here - please navigate to our Internal Job Board in Greenhouse to apply to our open roles.