What are the responsibilities and job description for the BSA AML and OFAC Compliance Manager position at Regions?
Thank you for your interest in a career at Regions. At Regions, we believe associates deserve more than just a job. We believe in offering performance-driven individuals a place where they can build a career --- a place to expect more opportunities. If you are focused on results, dedicated to quality, strength and integrity, and possess the drive to succeed, then we are your employer of choice.
Regions is dedicated to taking appropriate steps to safeguard and protect private and personally identifiable information you submit. The information that you submit will be collected and reviewed by associates, consultants, and vendors of Regions in order to evaluate your qualifications and experience for job opportunities and will not be used for marketing purposes, sold, or shared outside of Regions unless required by law. Such information will be stored in accordance with regulatory requirements and in conjunction with Regions’ Retention Schedule for a minimum of three years. You may review, modify, or update your information by visiting and logging into the careers section of the system.
Job Description:
At Regions, the BSA AML and OFAC Compliance Manager leads a team of second line of defense risk management experts that advise on business and/or product decisions. Associates at this level ensure that all compliance activities within their area of expertise follow the necessary rules and regulations, contribute to process change and redesign in addition to developing business plans, policies, and procedures. This position leads a team and works closely with senior management to ensure that the organization maintains the highest of standards of regulatory compliance and integrity.
Primary Responsibilities
Oversees large team of professional level compliance staff and compliance efforts for designated business units
Develops, implements, and maintains policies, procedures, and controls to ensure compliance with BSA/AML and OFAC regulations and industry best practices
Conducts ongoing risk assessments and monitors emerging risks, working collaboratively with cross-functional teams to implement effective risk mitigation strategies
Develops and delivers comprehensive training programs on compliance policies, procedures, and regulatory requirements for employees at all levels of the organization
Serves as the primary point of contact for regulatory agencies and external auditors, ensuring timely and accurate responses to inquiries and requests for information
Oversees internal investigations into potential instances of non-compliance, fraud, or other regulatory violations, ensuring thorough documentation and resolution of issues
Ensures accurate regulatory reports, including SARs, CTRs, and OFAC responses, in accordance with regulatory requirements and deadlines
Monitors industry trends and regulatory developments, and recommends enhancements to the compliance program to adapt to changing risks and requirements
This position is exempt from timekeeping requirements under the Fair Labor Standards Act and is not eligible for overtime pay.
This position is incentive eligible.
Requirements
Bachelor's degree and seven (7) years directly related experience and four (4) years of management experience
Or High School Diploma or GED and eleven (11) years directly related experience and six (6) years of management experience
Preferences
Master's degree
Certified Regulatory Compliance Manager Certification (CRCM)
Skills and Competencies
Ability to influence and collaborate effectively
Advanced in Microsoft Office Suite
Deadline driven
Organizational skills
Strong Leadership, communication, and interpersonal skills
Strong understanding of regulatory requirements
Time management skills
Position Type Full time
Compensation Details
Pay ranges are job specific and are provided as a point-of-market reference for compensation decisions. Other factors which directly impact pay for individual associates include: experience, skills, knowledge, contribution, job location and, most importantly, performance in the job role. As these factors vary by individuals, pay will also vary among individual associates within the same job.
The target information listed below is based on the Metropolitan Statistical Area Market Range for where the position is located and level of the position.
Job Range Target:Minimum:Median:
Incentive Pay Plans: This role is eligible to participate in the annual discretionary incentive plan. Employees are eligible to receive a discretionary award based on individual, business, and/or company performance.
Benefits Information
Regions offers a benefits package that is flexible, comprehensive and recognizes that "one size does not fit all" for benefits-eligible associates. Listed below is a synopsis of the benefits offered by Regions for informational purposes, which is not intended to be a complete summary of plan terms and conditions.
Paid Vacation/Sick Time
401K with Company Match
Medical, Dental and Vision Benefits
Disability Benefits
Health Savings Account
Flexible Spending Account
Life Insurance
Parental Leave
Employee Assistance Program
Associate Volunteer Program
Please note, benefits and plans may be changed, amended, or terminated with respect to all or any class of associate at any time. To learn more about Regions’ benefits, please click or copy the link below to your browser.
https://www.regions.com/about-regions/welcome-portal/benefits
Location Details Riverchase Complex North Building
Location: Hoover, Alabama
Equal Opportunity Employer/including Disabled/Veterans
Job applications at Regions are accepted electronically through our career site for a minimum of five business days from the date of posting. Job postings for higher-volume positions may remain active for longer than the minimum period due to business need and may be closed at any time thereafter at the discretion of the company.
Regions is dedicated to taking appropriate steps to safeguard and protect private and personally identifiable information you submit. The information that you submit will be collected and reviewed by associates, consultants, and vendors of Regions in order to evaluate your qualifications and experience for job opportunities and will not be used for marketing purposes, sold, or shared outside of Regions unless required by law. Such information will be stored in accordance with regulatory requirements and in conjunction with Regions’ Retention Schedule for a minimum of three years. You may review, modify, or update your information by visiting and logging into the careers section of the system.
Job Description:
At Regions, the BSA AML and OFAC Compliance Manager leads a team of second line of defense risk management experts that advise on business and/or product decisions. Associates at this level ensure that all compliance activities within their area of expertise follow the necessary rules and regulations, contribute to process change and redesign in addition to developing business plans, policies, and procedures. This position leads a team and works closely with senior management to ensure that the organization maintains the highest of standards of regulatory compliance and integrity.
Primary Responsibilities
Oversees large team of professional level compliance staff and compliance efforts for designated business units
Develops, implements, and maintains policies, procedures, and controls to ensure compliance with BSA/AML and OFAC regulations and industry best practices
Conducts ongoing risk assessments and monitors emerging risks, working collaboratively with cross-functional teams to implement effective risk mitigation strategies
Develops and delivers comprehensive training programs on compliance policies, procedures, and regulatory requirements for employees at all levels of the organization
Serves as the primary point of contact for regulatory agencies and external auditors, ensuring timely and accurate responses to inquiries and requests for information
Oversees internal investigations into potential instances of non-compliance, fraud, or other regulatory violations, ensuring thorough documentation and resolution of issues
Ensures accurate regulatory reports, including SARs, CTRs, and OFAC responses, in accordance with regulatory requirements and deadlines
Monitors industry trends and regulatory developments, and recommends enhancements to the compliance program to adapt to changing risks and requirements
This position is exempt from timekeeping requirements under the Fair Labor Standards Act and is not eligible for overtime pay.
This position is incentive eligible.
Requirements
Bachelor's degree and seven (7) years directly related experience and four (4) years of management experience
Or High School Diploma or GED and eleven (11) years directly related experience and six (6) years of management experience
Preferences
Master's degree
Certified Regulatory Compliance Manager Certification (CRCM)
Skills and Competencies
Ability to influence and collaborate effectively
Advanced in Microsoft Office Suite
Deadline driven
Organizational skills
Strong Leadership, communication, and interpersonal skills
Strong understanding of regulatory requirements
Time management skills
Position Type Full time
Compensation Details
Pay ranges are job specific and are provided as a point-of-market reference for compensation decisions. Other factors which directly impact pay for individual associates include: experience, skills, knowledge, contribution, job location and, most importantly, performance in the job role. As these factors vary by individuals, pay will also vary among individual associates within the same job.
The target information listed below is based on the Metropolitan Statistical Area Market Range for where the position is located and level of the position.
Job Range Target:Minimum:Median:
Incentive Pay Plans: This role is eligible to participate in the annual discretionary incentive plan. Employees are eligible to receive a discretionary award based on individual, business, and/or company performance.
Benefits Information
Regions offers a benefits package that is flexible, comprehensive and recognizes that "one size does not fit all" for benefits-eligible associates. Listed below is a synopsis of the benefits offered by Regions for informational purposes, which is not intended to be a complete summary of plan terms and conditions.
Paid Vacation/Sick Time
401K with Company Match
Medical, Dental and Vision Benefits
Disability Benefits
Health Savings Account
Flexible Spending Account
Life Insurance
Parental Leave
Employee Assistance Program
Associate Volunteer Program
Please note, benefits and plans may be changed, amended, or terminated with respect to all or any class of associate at any time. To learn more about Regions’ benefits, please click or copy the link below to your browser.
https://www.regions.com/about-regions/welcome-portal/benefits
Location Details Riverchase Complex North Building
Location: Hoover, Alabama
Equal Opportunity Employer/including Disabled/Veterans
Job applications at Regions are accepted electronically through our career site for a minimum of five business days from the date of posting. Job postings for higher-volume positions may remain active for longer than the minimum period due to business need and may be closed at any time thereafter at the discretion of the company.