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 Crime team member tasks as necessary.
• Assist Chief Compliance & Audit Officer and BSA Officer on compliance, BSA/AML and/or other special projects, as needed.

REQUIREMENTS:

• Occasionally lift and/or move up to 10 lbs.  
• Ability to understand and follow instructions in English.
• Ability to sit for extended periods of time, twist, bend, sit, walk use hands to twist, handle or feel objects, tools or controls, such as computer mouse, computer keyboard, calculator, stapler, telephone, staple puller, etc., reach with hands and arms, balance, stoop, kneel, talk or hear.
• Specific vision abilities required by the job include close vision, distance vision, peripheral vision, depth perception and the ability to adjust focus.

QUALIFICATIONS:

• Bachelor’s degree (B.A.) from four-year college or university; or three to five years related experience and/or training; or equivalent combination of education and experience.
• 3+ years of prior experience in an analytical or technical role in Financial Crimes Compliance, preferably in Global Transaction Banking and/or payments business of an international financial services organization.
• Experience building/maintain AML Transaction Monitoring Program.
• Knowledge of and experience with the latest AML transaction monitoring technology tools and trends.
• Experience of working on AML Transaction Monitoring product implementations of modern transaction monitoring systems using machine learning algorithms for detection.
• Strong understanding of relevant regulatory frameworks and payment regulations.
• Excellent analytical, problem-solving, and decision-making skills, with the ability to assess and mitigate compliance risks effectively.
• Exceptional communication and interpersonal skills, with the ability to collaborate effectively with internal and external partners, empower, influence, and educate or advise others on matters of significance, involving regulatory compliance.
• Diligent and highly organized, with the ability to lead multiple projects, priorities, and deadlines in a fast-paced, hardworking environment.
• Effective written communication skills and strong digital literacy are essential.

THE COMPANY

Founded in 1912, Stearns Financial Services Inc. (SFSI) is a $2.4 billion well-capitalized, independent financial holding company based in St. Cloud, Minnesota. Specializing in nationwide small business lending and equipment financing, Stearns has maintained outstanding customer service, fast decisions, and customized finance solutions to their customers for decades.

Stearns Bank has earned itself a stellar reputation amongst customers and competitors alike. This reputation goes beyond just word-of-mouth, as Stearns has been recognized by the Independent Community Banker’s Association (ICBA) as a top-performing bank in the nation based on a 3-year average Return on Assets for banks $1 billion or more. Stearns has also been recognized by American Banker as a top-performing bank in the nation over a 3-year period for Return on Equity for banks from $2 billion to $10 billion.

As a Star Tribune Top Workplaces award recipient and an award recipient of the Minnesota Business Magazine 100 Best Places to Work in Minnesota, Stearns takes pride in their team and holds their employees in extremely high regard. We offer a competitive salary and benefit package including our Employee Stock Ownership Program-one of the best long-term incentive programs in the nation.

EQUAL OPPORTUNITY EMPLOYER /AFFIRMATIVE ACTION PLAN

We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, or creed, religion, sex, marital status, familial status, sexual orientation, national origin, age, disability, veteran’s status, status with regard to public assistance, or any other class protected by Federal, State, local laws governing nondiscrimination in employment.