ADP is hiring a Associate Compliance Analyst - AVS. In this position you will ensure compliance with the ADP's Anti-Money Laundering Program to mitigate the risk of the card program being used as a conduit for money laundering, the financing of terrorist acts or the financing or commission of other crimes. Monitor various AML reports, cardholder balances and cardholder transactions to identify and document fraudulent activity; report such activities to the Compliance Officer, government agencies via Suspicious Activity and Currency Transaction reporting, and ADP Global Security. Monitor and actively work the negative balance activity reports to reduce the risk of financial loss. Monitor current and pending state and federal laws along with all NACHA, money transmitter requirements, anti-money laundering, and banking regulations pertaining to ADP's products and processes to ensure ADP's products and processes are fully compliant. Assess impact on operations and develops recommendations for any proposed regulatory and legal changes.
Create and or implement as directed required communication plans and proper course of action for impacted product areas. Coordinate/and or implement activities with dedicated product compliance directors, Legal Department, Agency Relations and other internal business stakeholders. Provide direction to develop and or participated in necessary IT Business Cases and/or product integration for any required systemic changes or work flow changes. Coordinate with impacted areas along with internal Operations & Compliance departments to take necessary steps to ensure seamless implementation.
Identify, develop and /or oversee all regulatory and reporting requirements related to Federal, State, Local agencies, OFAC, AML, FinCEN, NACHA, Sarbanes Oxley, SSAE16, money transmitter licensing. Provide compliance and risk integration expertise for product changes, acquisition and/or new money movement products. to ADP.
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- Monitor, control and correct key compliance operational processes and transactions.
- Collaborate with key business units and IT personnel to resolve the process and/or transactional issues.
- Ensure corrective measures are implemented timely and accurately in order to maintain process and transactional compliance to all regulatory and reporting entities.
- Reviews the overall compliance activities for all Payment, Compliance and Tax Service products.
- Monitors all current and proposed regulatory and legal changes and develops appropriate course of action to ensure compliance.
- Implements policies and procedures that support regulatory and legal changes.
- Collaborates with all product areas along with Corporate Audit and Legal Departments.
- Oversees and identifies all pertinent reporting requirements. (Operational requirements)
- Analyzes activity and trends to mitigate risk of loss to ADP; determines appropriate financial actions and/or workflow processes and works with third party vendors, regulatory agencies, internal business stakeholders and Clients to ensure minimal or no negative impact to ADP.
- Consults with internal business stakeholders, third party vendors, regulatory agencies, and industry governance organizations which may lead to development and implementation of required procedures and reporting and develops business requirements for system development with IT and other supporting organizations.
- Performs other related duties as assigned.
- Bachelor's Degree or its equivalent in education and experience with a Major Area of Concentration in Business, finance, customer service, compliance
- 1 - 3 Years of Directly Related Experience
PREFERRED QUALIFICATIONS:Preference will be given to candidates who have the following:
- Knowledge of Paycard Processes and procedures.
- Ability to make independent decisions and make sound judgment calls when interviewing cardholders, merchants, and clients.
- Ability to influence/negotiate Knowledge of AML Compliance Program Requirements
- Knowledge of Money Transmitter License requirements, filing experience and understanding legal requirements
- Understanding of fraud (scenarios, terminology, techniques)
- Experience with compliance related areas to include Card process and processing, money transmitter licensing and AML compliance requirements
- Self-starter and independent.
- Strong analytical skills
- Bilingual in English / Spanish
- Ability to work under pressure
- Strong customer service skills.
- Strong verbal, and written communication skills.
- Excellent organizational skills.
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