Manager – AML & Money Transmission Compliance

This is a fully remote position, open to applicants in United States.

📋 Description

• Guide a team and oversee the daily operations of direct reports.

• Design, implement, and sustain Paylocity’s BSA/AML compliance program.

• Develop policies, procedures, risk assessments, customer risk rating frameworks, and processes for monitoring suspicious activities.

• Assist with Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), Know Your Customer (KYC) onboarding, transaction monitoring, and regulatory examinations and reviews.

• Manage current and pending money transmitter license obligations through the Nationwide Multistate Licensing System (NMLS).

• Prepare necessary filings, address regulator inquiries, complete Money Services Business (MSB) Call Reports, track renewals, and coordinate notifications for material changes.

• Conduct and improve BSA/AML risk assessments across Payroll and Spend Management product lines.

• Stay updated on legislative and regulatory changes related to AML, money transmission, OFAC sanctions, and federal banking regulations.

• Supervise Suspicious Activity Report (SAR) investigations and filings, as well as 314(a) information-sharing requests.

• Maintain productive relationships with state money transmitter regulators, the OCC, and FinCEN.

• Organize preparations for OCC examinations, state regulatory audits, and internal audit reviews.

• Collaborate with external legal counsel and consultants on Trust Bank regulatory deliverables, AML improvements, and licensing strategies.

• Create and deliver ongoing AML training sessions for employees.

• Provide compliance reports and updates to the AML Governance Committee and the executive team.

• Work alongside Internal Audit, Enterprise Risk, and Risk Mitigation teams to implement suitable controls.

⛳️ Requirements

• A bachelor's degree is required; a master's degree or JD is preferred.

• 7+ years of experience with a bachelor’s degree OR 5+ years of experience with a master’s degree in BSA/AML compliance, money transmission licensing, or financial crimes compliance.

• Prior leadership or supervisory experience is essential.

• Comprehensive knowledge of the Bank Secrecy Act, USA PATRIOT Act, FinCEN regulations, OFAC sanctions programs, and OCC supervisory expectations for national trust banks.

• Practical experience with state money transmitter licensing frameworks and NMLS, including state-specific regulatory nuances.

• Background in developing and managing AML programs, including risk assessments, customer risk rating models, CDD/EDD processes, suspicious activity monitoring, and SAR filings.

• CAMS (Certified Anti-Money Laundering Specialist) certification is required.

• Experience in the Payroll/HCM and Spend Management sectors is preferred.

• Familiarity with OCC trust bank charter processes and national bank compliance frameworks is strongly preferred.

• Extensive knowledge of related recordkeeping and reporting obligations.

• Exceptional verbal and written communication skills for interacting with regulators, executive leadership, and external counsel.

• Capability to work independently as well as collaboratively in a team environment.

• Strong attention to detail and methodical research skills.

• Outstanding analytical and problem-solving abilities.

• Ability to remain seated for extended periods, typically 7–8 hours a day.

• Proficient in operating computers, phone systems, and multiple software programs simultaneously.

• Must be available five days a week during designated work hours.

• Up to 10% travel may be required.

🏝️ Benefits

• Medical insurance.

• Dental insurance.

• Vision insurance.

• Life insurance.

• Disability insurance.

• 401(k) matching.

• Career development opportunities.

• Fully remote work from home or location of record within the U.S.

• Eligibility for annual bonuses.

• Eligibility for restricted stock unit grants.

• Reasonable accommodations for individuals with disabilities.