The company was developed close to 20 years ago to help make it more convenient for people to transfer money to their families in Mexico quickly, reliably, and at a fair rate. Their core values highlight improving people’s lives by making reliable financial transactions simple, convenient, and cost effective. Today, the company has expanded and provides money transfers to countries throughout Central and South America, and all over the Caribbean. Their stores and agents can be found in 20 states and are opening new locations all the time. They have also started to offer additional services like Phone Cards, Bill Payment and Top-Ups.
The Global Compliance Officer (GCO) is an essential element of the management team. This position reports directly to the President of the company with indirect reporting to the Internal Compliance Committee. The GCO is responsible for managing the compliance operations of the company and adhering to the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) rules and regulations as mandated by federal, state, and local laws and the company’s internal anti-money laundering policies and procedures.
The Essential Duties and Responsibilities
The Ideal Candidate
- Provide executive leadership for corporate compliance program including maintenance and implementation of the compliance plan.
- Interact and build relationships with federal and state regulators as well as compliance personnel of banks and other financial institutions.
- Identify and address areas of compliance risk for the organization with the implementation of mitigation strategies.
- Have a strong understanding of the IRS rules and regulations, OFAC compliance, license registration, Currency Transaction Reports (CTR) and Suspicious Activity Reports (SAR).
- Review and file reports of suspicious activity (SAR’s) with the IRS where appropriate.
- Write, maintain, and enforce the company’s Compliance Manual.
- Develop and deliver employee and agent training programs in accordance with the company's anti-money laundering policies and procedures and maintain records of such training.
- Respond to internal and external inquiries regarding the company's anti-money laundering and BSA Compliance policies and procedures.
- Maintain good record-keeping practices required for Federal and State Licensing and Reporting Requirements.
- Coordination of the company’s annual Anti-Money Laundering audit including follow-up reporting and implementation of new policies and procedures to remain current with best practices and new regulations.
- Establish and maintain records for the approval process of businesses desiring to be an Agent of the company including continuous monitoring of the agency risk level and relationship with the company.
- Maintain documentation of foreign correspondent/paying agents including occasional due diligence on-site visit.
- Attending external programs, such as ACAMS, Moneylaundering.com, ANCEC, MTRA, etc.
- Manage a staff of 20+ individuals within the compliance department with staff located in the US and Mexico.
- ACAMS Certified.
- Bi-lingual (English and Spanish).
- US Citizen, maintain a Passport, and able to travel to foreign countries.
- Comfortable managing all compliance related duties.
- Detail oriented and organized.
- Strong leadership, verbal, and business writing skills.
- Excellent interpersonal skills with an ability to communicate effectively; able to effectively work with bankers, regulators, and external customers.
- A college 4-year college degree in the area of Business Management, Finance or Accounting.