AML Global Monitoring Specialist

Come Grow with Us and Join an Award-Winning Organization! Stearns Bank is looking for an AML Global Monitoring Specialist. This is a remote-eligible position headquartered out of St. Cloud, Minnesota. 

JOB SUMMARY:

Stearns Bank is seeking an individual to join its BSA & Financial Crime team to assist in designing and implementing transaction monitoring surveillance models and lead the operational aspect of AML transaction monitoring for global transaction banking business. We are looking for an experienced Compliance/BSA professional to help oversee global transactions conducted through the Bank’s direct and BaaS-partnered fintech engagements to ensure the Bank’s fintech / BaaS operations comply with relevant regulations, industry standards, best practices and the Bank’s policies and risk tolerances. The AML Global Monitoring Specialist will be responsible for assisting with the monitoring and oversight of compliance and BSA/AML policies, procedures, and controls, as well as monitoring and assessing regulatory risks, through risk assessments, monitoring and testing, and third-party oversight as related to global transactions. The ideal candidate will have a strong understanding of foreign/global transaction requirements and a proactive approach to compliance and regulation management. This role has a decisive impact on positioning the Bank’s fintech engagements for future growth. 

Starting annual salary of $90,000.00. Employment offers will be dependent upon the selected candidate’s relevant qualifications and experience.

RESPONSIBILITIES:

• Help to build and maintain compliance policies, procedures, and controls in accordance with regulatory requirements and industry standards.
• Stay up to date on relevant laws and regulations related to global/foreign transactions.
• Collaborate with cross-functional teams, including Legal, Compliance, and BSA, to ensure legal and compliance requirements are integrated into Bank sponsored fintech business processes and product development.
• Working with the investigation team to identify operational improvement opportunities, capturing, analyzing, and documenting business requirements and specifications.
• Assist in Compliance/BSA oversight of fintech partners involved in global transactions, including compliance meetings, reporting, compliance escalations and remediation of deficiencies.
• Provide support and mentorship to Bank sponsored fintech team members on regulatory requirements, policies, procedures, strategic recommendations for enhancements, etc.
• Assists in gathering documents for BSA/AML compliance audits and examinations.
• Prepare and submit regulatory filings, reports and disclosures as the need arises by applicable laws and regulations.
• Participate in regular meetings with fintech partners, perform a variety of daily tasks, including the preparation of reports, data analytics, in support of fintech monitoring and oversight.
• Complete all required training.
• Act as a backup for other BSA & Financial …