Director Of Bsa & Aml Financial Crimes Operations

• Provide strategic direction for WEX’s client and counterparty onboarding services, including defining and setting processes and procedures, implementing metrics and tools to manage capacity, embed service level commitments and drive enhancements to simplify and streamline processes to enhance the client experience.
• Assisting with risk assessments and regulatory examinations where needed
• Prepare and present reports on suspicious activity, SARs filed, No-SAR decisions, and other financial crime trends.
• Other duties, as assigned.
• Manage Bank Secrecy Act, USA Patriot Act (314a/b), Anti-Money Laundering and Know Your Customer programs including monitoring and escalations, to meet regulatory and business requirements
• Establish a methodology and operational approach to monitor and report ongoing activity.
• Monitor and communicate potential changes in applicable financial crime regulations and providing advice to the business regarding any such development, including working with outside counsel and other experts to advise the company on its financial crime compliance obligations
• Manage the high risk customer identification and (annual+) EDD review process for customers deemed to be high risk.
• Manage or participate in the management of controls implemented in various areas of the business that assist in the identification and referral of potentially suspicious activity (e.g., internal lines of business, risk management, third parties with whom AML/CFT functions have been outsourced, treasury/finance, information security/information technology, cyber security, human resources, sales, etc.)
• Create, develop, and maintain the business requirements for AML/CFT/Sanctions-related technology solutions; participate in any RFP or similar process for vendor selection; participate in and oversee development and implementation of said technology; conduct initial and periodic (e.g., annual) reviews/tests on settings, assumptions, and other systemic parameters to ensure they remain appropriate and effective and support the WEX Inc. and WEX Bank’s risk management objectives; submit any algorithms, models, AI, or other technology tools through the appropriate governance review (e.g., model risk management).
• Design and execute the global strategy for WEX's Anti-Money Laundering (AML)/Know Your Customer (KYC) programs associated with the onboarding and monitoring of clients for regulated businesses, as well as the enhancement of the of global economic sanctions screening and analysis program
• Establish strategy for selection and submission of suspicious activity reports (SARs), including initial and continuing activity SARs, as warranted.
• Create a consistent process with adequate documentation for No-SAR decisions.
• Manage sanctions, OFAC, and other watchlist screening activities, including the review of potential alerts, clearing of alerts, documenting false positives, escalating potential matches, and preparing documentation for reporting of actual matches.

• Be a subject matter expert (SME) on regulatory guidance, FinCEN guidance, FILs, etc. associated with the roles and responsibilities of this position. Provide proactive information to governance committees and appropriate executive team members on proposed regulatory guidance and the impact it may have on WEX.
• Report and present within a governance framework on WEX Inc.’s compliance with service level agreements (SLAs) with WEX Bank, a SAR-review committee, and third party oversight.
• Support the Bank in all audits, regulatory examinations, and/or requests for information.
• Liaise with global AML/CFT SMEs.

• Educate and train internal staff on policy changes, new directives and spotting potential red flags or suspicious activity
• Create and maintain a current and accurate new employee/new hire/employee transfer onboarding and training program, which includes regulatory requirements, WEX Inc. and WEX Bank policy requirements, and specific, on-the-job training on the functions for which the individual is responsible.
• Manage any third parties providing contract or other temporary workers to ensure that work performed by third parties meets the standards of quality and excellence required by WEX.
• Manage teams of individuals, who are responsible for the various AML/CFT/Sanctions operational process work, ensuring compliance with policies, procedures, and SLAs.
• Encourage and provide opportunities for staff to obtain and/or maintain relevant industry certifications, such as Certified Fraud Examiner, Certified Anti-Money Laundering Specialist, etc.

• Exercise sound judgment and decision-making skills, including risk-based decisions, especially in times of uncertainty or guidelines are broad. Identify and select complex choices of action where standard practices may not exist.
• Accommodate detailed work, problem solving, reasoning, math, presentations, verbal communication, written communication, analytical reasoning, training others, multiple concurrent tasks and constant interruptions.

• 12-15 years experience in AML/CFT (BSA) compliance and operations, including leading of teams. At least half of these years must be in U.S. banking with a strong emphasis on AML/CFT compliance. Other experience in payments, fintech, and other financial services is welcome. Preferred experience in commercial lending, commercial banking AML/CFT. Strongly preferred experience in commercial/business credit card lending and business-to-business (B2B) payments.
• Experience managing multiple teams and delivering results across disciplines
• Previous experience building and managing BSA & AML programs, and experience with MSBs and third party payment processors (TPPPs).
• Experience with regulators, managing examinations, and/or reporting to external regulators and auditors.
• Bachelor’s degree or equivalent banking experience; advanced degree preferred.

• Comprehensive understanding of general banking operations activities, products, and services.
• Must pass a successful background investigation.
• Comprehensive understanding of general banking compliance regulations and laws.
• Ability to resolve issues, work independently, and meet deadlines.
• Ability to communicate effectively with staff at all levels.
• Good organizational and time management skills.
• Superior and effective verbal, written, and interpersonal communication skills with the ability to instruct others, train personnel, write reports, correspondence and procedures, and speak clearly to customers and employees.
• Persuasive and team-oriented.

The base pay range represents the anticipated low and high end of the pay range for this position. Actual pay rates will vary and will be based on various factors, such as your qualifications, skills, competencies, and proficiency for the role. Base pay is one component of WEX's total compensation package. Most sales positions are eligible for commission under the terms of an applicable plan. Non-sales roles are typically eligible for a quarterly or annual bonus based on their role and applicable plan. WEX's comprehensive and market competitive benefits are designed to support your personal and professional well-being. Benefits include health, dental and vision insurances, retirement savings plan, paid time off, health savings account, flexible spending accounts, life insurance, disability insurance, tuition reimbursement, and more. For more information, check out the "About Us" section.Salary Pay Range: $143,000.00 - $191,000.00