Job Type
Full-time
This role follows a hybrid schedule, requiring two days in the office at our Schaumburg, IL or Rochester, NY location and three days remote per week. The in-office days are subject to business needs. Candidates must be able to commute to the office as required. The work arrangement for this role is subject to change based on business needs and individual performance. This may include adjustments to on-site requirements or schedule expectations, as necessary.
Position Overview
The Director of AML Compliance is responsible for Anti-Money Laundering (AML) governance across all money movement products offered to clients. This role is also responsible for advising the Risk Mitigation function to ensure activities around client credit risk management, client due diligence procedures, anti-fraud risk and control oversight, align to the AML policy and overall strategy. This role is a leader in maturing and enhancing our controls and governance around AML compliance.
Primary Responsibilities
The below represents the primary duties of the position, others may be assigned as needed. To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• Oversee Paylocity's AML Program to maintain compliance with AML regulations and relating reporting requirements
• Serve as Paylocity's AML Compliance Officer
• Responsible for leading Paylocity's AML Governance Committee. Interact with Senior Management to raise awareness of compliance or regulatory trends, emerging issues, or enhancements to the program; oversee preparation of materials for the relevant AML or risk committees
• Monitoring "know-your-client" initiatives and framework around customer due diligence programs for AML compliance
• Utilize industry best practices and other statistical tools to advise on risk assessments, financial profiling and other due diligence programs
• Appropriately assess risk, demonstrating particular consideration for the Company's reputation driving compliance with applicable laws, rules and regulations, applying sound ethical judgment and business practices, and escalating, managing and reporting issues with transparency.
• Be a champion cross functionally with teams including Product and Technology, Sales, Risk Mitigation, Banking, Legal, Operations and Government Relations to drive success across the enterprise in relation to AML Compliance
• Provide advice to the businesses on an ongoing basis on new business initiatives, new products, business acquisitions, and client-related matters with respect to applicability of policies or other AML compliance risks.
• Monitor money movement regulations to inform policies and actions to ensure regulatory compliance
• Advise to mature programs around fraud prevention, detection and monitoring of controls
• Apply subject matter expertise and institutional knowledge of AML regulations to inform "know-your-client" initiatives and responsible for AML compliance training on various regulations to all stakeholders, as needed
• Be involved in industry specific consortiums on the topic of AML, "know-your-client" and credit/fraud risk
Education and Experience
• Bachelor's degree in finance, accounting, or similar field required (Master's degree preferred)
• At least 10 years of experience in leading AML compliance within payroll, banking or FinTech
• Demonstrated ability to synthesize and prioritize
• Demonstrated interpersonal, organizational and analytic skills
• Ability to collaborate and work cross functionally
• At least 5 years of experience leading/managing teams
The base pay range for this position is $160,000 - $197,700 /yr; however, base pay offered may vary depending on job-related knowledge, skills, and experience. This position is eligible for an annual bonus and restricted stock unit grant based on individual performance in addition to a full range of benefits outlined here. This information is provided per the relevant state and local pay transparency laws for the location in which this position will be performed. Base pay information is based on market location. Applicants should apply via www.paylocity.com/careers.
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