Sr. Compliance Associate

KeyBank•Brooklyn, OH

2d•Hybrid

About The Position

The Senior Compliance Associate manages the Second Line of Defense (2LOD) compliance oversight of Key Bank Integrated Payments and Embedded Banking products, services, and merchant customers to ensure program adherence to company standards and regulatory requirements. This role is a vital member of a team in Financial Crimes Risk Management supporting higher risk complex product offerings in Key Enterprise Payments. The Sr Compliance Associate sits in the second line of defense and is expected to work independently to resolve complex problems and advise others as a subject matter expert.

Requirements

Experience in merchant payments, bank merchant sponsorship and complex payments product offerings.
Previous experience in oversight sampling/testing and related documentation
Ability to review and assess third party AML and OFAC program documentation
Ability to review reporting data to identify potential compliance issues necessitating further investigation.
Ensuring adherence to financial regulations and internal standards across products and processes.
Identifying and evaluating risks within compliance operations.
Conducting thorough reviews to ensure compliance with legal and ethical standards.
Applying AML procedures including enhanced due diligence and suspicious activity reporting.
Supporting the creation and implementation of compliance policies and procedures.
Engaging with risk partners and internal teams to resolve complex compliance issues.
Exercising sound judgment in resolving compliance-related challenges.
Maintaining accurate records of compliance activities and findings.
Identifying and mitigating risks that affect business operations.

Nice To Haves

Bachelor's Degree
3+ years of experience in AML compliance, regulatory oversight, or financial services
Proven ability to manage multiple complex compliance functions and collaborate across teams
Certifications in compliance (i.e. CAM, CRCM, ACFCS), auditing, or risk management

Responsibilities

Manage the Second Line of Defense (2LOD) compliance oversight of Key Bank Integrated Payments and Embedded Banking products, services, and merchant customers to ensure program adherence to company standards and regulatory requirements.
Conduct analysis of control effectiveness across the ISO/Payfac portfolio through targeted testing, monitoring metrics, and inquiry and escalate issues as necessary.
Perform oversight of first line due diligence and shadow monitoring processes.
Work with the first line to resolve issues and engage other business teams as necessary.
Review, develop, and implement compliance procedures and controls.
Collaborate with 1LOD and 2LOD partners to identify and resolve complex compliance issues.
Monitor regulatory changes and assess their impact on existing policies and procedures.
Maintain documentation and reporting related to compliance activities.
Participate in audits and reviews related to compliance and regulatory matters.
Engage with risk partners and other stakeholders to support enterprise-wide compliance and product initiatives.
Performs other duties as assigned; duties, responsibilities and/or activities may change or new ones may be assigned at any time.