Director – AML Compliance

at  visa

Company Description
Visa is a world leader in payments and technology, with over 259 billion payments transactions flowing safely between consumers, merchants, financial institutions, and government entities in more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive while driven by a common purpose – to uplift everyone, everywhere by being the best way to pay and be paid.
Make an impact with a purpose-driven industry leader. Join us today and experience Life at Visa.
Job Description
Visa Direct, is an exciting payment service that Visa provides to clients (issuers, acquirers, processors, merchants and service providers) to facilitate funds transfers around the world using push and pull payment technology. Visa Direct consumer and business applications include person to person (P2P) money transfer, person to micro-business (P2MB) transfer (e.g. payment for goods and services sold by very small businesses), marketplace payouts to gig economy participants, funds disbursement (e.g. insurance claims), and more. In summary, Visa Direct offers Cross-border solutions that can enable funds delivery across Visa’s card network and numerous domestic Automated Clearing House (ACH) and real-time payment (RTP) networks.
The Director – AML Compliance - Payments will be a key member of the Global AML & Sanctions team. This charter is inclusive of assisting to develop the relevant AML policy standards, program governance using a risk based approach, engagement models, communications content and cadence, and strategic guidance to global and regional efforts. The role-holder should be able to engage with credibility and authority with clients and regulators and communicate clearly the platform’s risk and compliance features. Knowledge of global industry and regulatory trends in the areas of AML/KYC and risk scoring will be critical as well as experience in building solutions and processes to manage innovative payment services. The ideal candidate should be able to work independently towards agreed strategy, objectives and results and be effective in a dynamic, matrixed environment under demanding timelines.

Essential Functions

• Manage Commercial & Money Movement Solutions product-specific BSA/AML and sanctions risk strategy, standards, procedures and risk assessments to support the product roadmap, rollout, and service offering
• Partner with cross functional teams to define enhanced controls, tools and compliance monitoring rules for originated programs impacting authorization confidence and issuers’ Visa Direct enablement
• Execute Visa Direct monitoring rules to ensure participants’ compliance with product parameters, their PIFs and other best practices
• Interact with senior management in Product, Compliance, Legal, Risk, and regional business units concerning AML/CTF issues and processes
• Stay up-to-date of regulatory and corporate governance developments affecting payments with the region
• Support resolution of compliance issues in partnership with Regional Compliance & Client Services teams
• Communicate priorities, activities, and results to the larger organization, including senior leadership.
• Have a strong pulse and feedback loop on regional and functional partner needs
• Proactively identify and take on ad hoc strategic projects and execute on key initiatives, including closing any gaps in product features and functionality
• Provide thought leadership in managing and resolving complex compliance-related tasks.
• Offer compliance advisory support to regulated money movement businesses.
• Create and implement process efficiencies in compliance-related activities.
• Develop strategies for risk management and compliance processes.
• Collaborate with different teams to ensure compliance standards are understood and adhered to.
• Monitor and report on the effectiveness of the compliance program.
• Stay updated on current industry regulations and standards.
• Provide training and support to staff on compliance matters.
• Conducting Product Review and Approvals
• Managing compliance escalations and case management

This is a hybrid position. Hybrid employees can alternate time between both remote and office. Employees in hybrid roles are expected to work from the office 2-3 set days a week (determined by leadership/site), with a general guidepost of being in the office 50% or more of the time based on business needs.

Qualifications

• 10 years of experience with a Bachelor’s Degree or
• 8 years of experience with an Advanced Degree (e.g. Masters, MBA, JD, MD or PhD)
• 5-8 years of implementing AML/ATF, Bank Secrecy Act (BSA), USA PATRIOT Act, and OFAC programs at an Bank FI or MSB; in the payments industry a plus (but not essential)
• Preferred Experience
• Experience designing and managing AML & Sanctions related product features and development
• Ability to effectively collaborate and influence to lead cross-functional stakeholders
• Multi-national experience and perspective would be a strong plus
• Essential experience across cross-border payment infrastructure, including knowledge of correspondent banking networks, local Automated Clearing House (ACH), and global payment schemes.
• Knowledge of global remittance services, coupled with a deep understanding of compliance requirements.
• Fast learner and critical thinker, ability to interpret rules and policies and clearly articulate applicability to programs
• Strong communication skills (verbal and visual) with an ability to explain complex compliance, business and technical concepts to broad audiences in an approachable way
• Strong attention to detail and ability to manage multiple projects/ initiatives to conclusion through multi-functional teams
• Passion for payments and creating new solutions
• Visa or card industry knowledge would be an asset

Additional Information
Visa is an EEO Employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability or protected veteran status. Visa will also consider for employment qualified applicants with criminal histories in a manner consistent with EEOC guidelines and applicable local law

• Manage Commercial & Money Movement Solutions product-specific BSA/AML and sanctions risk strategy, standards, procedures and risk assessments to support the product roadmap, rollout, and service offering
• Partner with cross functional teams to define enhanced controls, tools and compliance monitoring rules for originated programs impacting authorization confidence and issuers’ Visa Direct enablement
• Execute Visa Direct monitoring rules to ensure participants’ compliance with product parameters, their PIFs and other best practices
• Interact with senior management in Product, Compliance, Legal, Risk, and regional business units concerning AML/CTF issues and processes
• Stay up-to-date of regulatory and corporate governance developments affecting payments with the region
• Support resolution of compliance issues in partnership with Regional Compliance & Client Services teams
• Communicate priorities, activities, and results to the larger organization, including senior leadership.
• Have a strong pulse and feedback loop on regional and functional partner needs
• Proactively identify and take on ad hoc strategic projects and execute on key initiatives, including closing any gaps in product features and functionality
• Provide thought leadership in managing and resolving complex compliance-related tasks.
• Offer compliance advisory support to regulated money movement businesses.
• Create and implement process efficiencies in compliance-related activities.
• Develop strategies for risk management and compliance processes.
• Collaborate with different teams to ensure compliance standards are understood and adhered to.
• Monitor and report on the effectiveness of the compliance program.
• Stay updated on current industry regulations and standards.
• Provide training and support to staff on compliance matters.
• Conducting Product Review and Approvals
• Managing compliance escalations and case managemen