VP, BSA/AML Governance at Synchrony

Orlando, Florida, United States -

Full Time

Start Date

Immediate

Expiry Date

06 Jun, 26

Salary

210000.0

Posted On

08 Mar, 26

Experience

10 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

BSA/AML Governance, OFAC Compliance, Risk Assessment, Control Inventory, Program Reporting, Quality Assurance, Quality Control, Training Management, Change Management, Policy Maintenance, Regulatory Compliance, Escalation Processes, Model Governance, Sanctions Governance, Budget Management, Risk Management

Industry

Financial Services

Description

Job Description: Role Summary/Purpose: The VP, BSA/AML Governance is responsible for the rigorous oversight and continual improvement of Synchrony’s Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) governance framework. Reporting directly to the SVP, BSA/AML/OFAC Officer, this leader manages the execution, monitoring, and enhancement of second line of defense (2LOD) compliance processes and provides enterprise governance oversight across the first and second lines of defense. The VP will drive the design and implementation of robust risk assessment and quality methodologies, deliver critical program reporting, manage training, support change management initiatives, and ensure formal interaction and information-sharing with the 1LOD to assess program health, identify emerging risks, and maintain compliance in a dynamic regulatory landscape. Our Way of Working We’re proud to offer you flexibility. At Synchrony, our way of working allows you to have the option to work from home, near one of our Hubs or come into one of our offices. Occasionally you may be required to commute or travel for in person engagement activities such as business or team meetings, training and culture events. Essential Responsibilities: Oversight of 1LOD and 2LOD Processes Set standards for the execution and monitoring of BSA/AML/OFAC processes within the second line of defense (2LOD), maintaining compliance with regulatory requirements and the Bank’s enterprise risk management framework. Serve as an internal subject matter expert on BSA/AML/OFAC risk assessment methodology, guiding the development, enhancement, and execution of effective risk assessment strategies and controls. Partner with risk and business leaders to ensure appropriate risk oversight and escalation processes. Maintain an enterprise BSA/AML/OFAC control inventory, providing 2LOD line-of-sight into key controls across both 1LOD and 2LOD, including ownership, control design intent, and linkage to applicable risks and regulatory requirements. Establish and maintain criteria for identifying “key” BSA/AML/OFAC controls and confirm appropriate testing/monitoring coverage is performed by the designated testing/monitoring functions; track and escalate gaps in coverage and recurring control themes. Serve as an internal subject matter expert on BSA/AML/OFAC risk assessment methodology, guiding the development, enhancement, and execution of effective risk assessment strategies and controls. Partner with risk and business leaders to ensure appropriate risk oversight and escalation processes. Implement and maintain a formal engagement and information-sharing model with 1LOD stakeholders (cadence, required management information, standard readouts, and escalation pathways) to assess ongoing program health, identify emerging risks, and ensure consistent governance across lines of business. Program Reporting Leadership Direct the creation and delivery of timely, accurate, and comprehensive BSA/AML/OFAC program reports, including: Quarterly report preparation for the Compliance Committee Semi-annual report preparation for the Enterprise Risk Management Committee (ERMC) Annual report preparation for the Risk Committee Ensure precise and actionable reporting of Risk Appetite Statement (RAS) metrics, with particular emphasis on timely SAR filing rates and trends Synthesize complex program data for executive audiences, highlighting key risks, remediation status, and program effectiveness. Provide regular feedback to process owners on QA/QC results, supporting continuous improvement. In partnership with the AML Model, Data, and Technology Lead, ensure governance practices are in place for AML monitoring models/ scenarios and related analytics, including inventory management, documentation standards, change/tuning governance (e.g., thresholds/segmentation), performance monitoring and outcomes analysis, approvals, and coordination with Model Risk Management and Technology partners as applicable. In partnership with the Sanctions lead/SME, ensure sanctions governance practices are established and effective (forums, standards, reporting, issue escalation), while recognizing the Sanctions function’s ownership for sanctions-specific governance content and execution. Quality Assurance and Quality Control Management Develop, implement, and continually enhance robust QA and QC methodologies to systematically monitor the performance of BSA/AML/OFAC processes. Oversee and, as needed, execute sample reviews of all QC activities to assess compliance with internal standards and regulatory requirements. Identify process or control defects, lead or supervise targeted remediation plans, and ensure effective closure and documentation of corrective actions. Provide regular feedback to process owners on QA/QC results, supporting continuous improvement. Training and Communication Oversee BSA/AML/OFAC training content to ensure Directors, officers, employees, and relevant third parties receive comprehensive and current regulatory education. Communicate policy, procedural, and regulatory changes across all levels of the organization, ensuring clear understanding and adoption. Monitor training effectiveness and recommend enhancements, as needed. Collaboration and Coordination Collaborate closely with the SVP, BSA/AML/OFAC Officer and management to ensure governance activities are fully aligned with overarching program objectives and strategic risk priorities. Coordinate with functional and business process owners to implement control enhancements and process improvements based on QA/QC results. Support, or lead as assigned, targeted reviews or investigations; analyze and report on findings and provide actionable recommendations. Procedural Support and Change Management Participate in, or manage, the update and maintenance of BSA/AML/OFAC policy and procedure documentation, ensuring appropriate, timely, and risk-responsive revisions. Lead the BSA/AML/OFAC change management process: ensure all procedural changes are assessed, documented, escalated, approved, and communicated to all relevant parties. Stay informed about regulatory or industry changes, proactively updating internal frameworks to maintain alignment with best practices and regulatory expectations. Manage the BSA/AML/OFAC Governance function budget, including planning, forecasting, expense management, and vendor/contract spend oversight as applicable; provide regular budget reporting and variance explanations to the SVP, BSA/AML/OFAC Officer. Perform other duties and/or special projects as assigned. Qualifications/Requirements: Bachelor’s degree in Business, Finance, Law, Risk Management, or related field 8+ years of progressive experience in BSA/AML/OFAC roles within financial services, including direct experience with 2LOD governance, quality programs, and risk management. In lieu of a degree; 15+ years of BSA/AML/OFAC roles within financial services, including direct experience with 2LOD governance, quality programs, and risk management. In-depth knowledge of applicable U.S. banking regulations related to BSA, AML, OFAC and Sanctions compliance. Experience developing, implementing, and overseeing QA and QC programs. Demonstrated experience preparing and delivering executive-level reporting and program updates. Proven track record in policy/procedure management and change control. Strong analytical, communication, and relationship-building skills. Desired Characteristics: Masters Degree or JD CAMS, CRCM, or other relevant professional certification Strategic risk management mindset Leadership and team-building Effective problem solving and decision making Executive communication and reporting Project and change management Independent judgment and integrity Cross-functional collaboration Grade/Level: 13 The salary range for this position is 130,000.00 - 210,000.00 USD Annual and is eligible for an annual bonus based on individual and company performance. Actual compensation offered within the posted salary range will be based upon work experience, skill level or knowledge. Salaries are adjusted according to market in CA, NY Metro and Seattle. Eligibility Requirements: You must be 18 years or older You must have a high school diploma or equivalent You must be willing to take a drug test, submit to a background investigation and submit fingerprints as part of the onboarding process You must be able to satisfy the requirements of Section 19 of the Federal Deposit Insurance Act. New hires (Level 4-7) must have 9 months of continuous service with the company before they are eligible to post on other roles. Once this new hire time in position requirement is met, the associate will have a minimum 6 months’ time in position before they can post for future non-exempt roles. Employees, level 8 or greater, must have at least 18 months’ time in position before they can post. All internal employees must consistently meet performance expectations and have approval from your manager to post (or the approval of your manager and HR if you don’t meet the time in position or performance expectations). Legal authorization to work in the U.S. is required. We will not sponsor individuals for employment visas, now or in the future, for this job opening. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status. Our Commitment: When you join us, you’ll be part of an inclusive culture where your individual skills, experience, and voice are not only heard – but valued. Together, we’re building a future where we can all belong, connect, and turn ideals into action. More than 50% of our workforce is engaged in our Employee Resource Groups (ERGs), where community and passion intersect to offer a safe space to learn and grow. This starts when you choose to apply for a role at Synchrony. We ensure all qualified applicants will receive consideration for employment without regard to age, race, color, religion, gender, sexual orientation, gender identity, national origin, disability, or veteran status. We’re proud to have an award-winning culture for all. Reasonable Accommodation Notice: Federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities. Please tell us if you require a reasonable accommodation to apply for a job or to perform your job. Examples of reasonable accommodation include making a change to the application process or work procedures, providing documents in an alternate format, using a sign language interpreter, or using specialized equipment. If you need special accommodations, please call our Career Support Line so that we can discuss your specific situation. We can be reached at 1-866-301-5627. Representatives are available from 8am – 5pm Monday to Friday, Central Standard Time Job Family Group: Risk Management Synchrony is a premier consumer financial services company delivering customized financing programs across key industries including retail, health, auto, travel and home, along with award-winning consumer banking products. With more than $139 billion in sales financed and 68.5 million active accounts, Synchrony brings deep industry expertise, actionable data insights, innovative solutions and differentiated digital experiences to improve the success of every business we serve and the quality of each life we touch. Our financial expertise spans key product areas, including apparel, electronics and appliances, home furnishings, automotive, power products and sports, jewelry and luxury, other retail, elective healthcare procedures and services, and more. Our investments in technology across multiple platforms—in-store, online and mobile—allow us to engage consumers when and where they want. Our programs and tools strengthen the relationship between our business partners and their customers, driving growth and opportunity across the board.

Responsibilities

This leader manages the execution, monitoring, and enhancement of second line of defense (2LOD) compliance processes for BSA, AML, and OFAC, while providing enterprise governance oversight across both the first and second lines of defense. Key duties include driving risk assessment methodologies, delivering critical program reporting, managing training, and ensuring formal information-sharing with the 1LOD to assess program health and emerging risks.