BSA Compliance Lead, Square Financial Services

  • Holladay, UT
  • Full-time

Company Description

Square builds common business tools in unconventional ways so more people can start, run, and grow their businesses. When Square started, it was difficult and expensive (or just plain impossible) for some businesses to take credit cards. Square made credit card payments possible for all by turning a mobile phone into a credit card reader. Since then Square has been building an entire business toolkit of both hardware and software products including Square Capital, Square Terminal, Square Payroll, and more. We’re working to find new and better ways to help businesses succeed on their own terms—and we’re looking for people like you to help shape tomorrow at Square.

Job Description

About Square Financial Services

Our purpose of economic empowerment guides everything we do at Square. Now, with that purpose in mind, we’re creating a bank. Square Financial Services is expected to launch in 2021, offering small business loans and deposit products. Within this team you’ll be on the forefront of creating a bank that allows customers to thrive. We can’t wait to see what we can build together.

With this new step ahead of us, we are looking to hire a BSA Compliance Lead.

The BSA Compliance Lead is primarily responsible for the administration of the Bank Secrecy Act compliance program under the guidance of the Bank Secrecy Act Officer (“BSA Officer”). You will support Bank operations by ensuring the enactment of program standards and controls, department procedures,  and training protocols to sufficiently address compliance requirements using industry standards and regulatory guidance that apply primarily to: the Bank Secrecy Act, the USA PATRIOT Act, anti-money laundering, OFAC, and the Bank’s Know Your Customer Program (collectively, the “BSA/AML Program”) You will report to the BSA Compliance Officer of the Square Financial Services.

You will:

  • Devise and implement strategies for detecting, mitigating, and preventing illegal and prohibited activities by constructing , implementing, and reporting on requirements of the BSA/AML Program to the BSA Officer and the Board of Directors.

  • Lead initiatives with business, engineering, and compliance teams dealing with products, services, and systems that impact the Bank’s BSA/AML risk management. 

  • Manage and lead small team of analysts as part of internal and outsourced AML services to ensure compliance with Bank policies and standards 

  • Oversee OFAC and 314(a) case reviews and escalate filing decisions to the BSA Officer 

  • Assist with regulatory exams and internal audits with a focus on results that fix and prevent recurrence of identified gaps and deficiencies.

  • Support oversight of the Bank's BSA/AML Program  by staying  up-to-date on all policies and applicable laws and regulations and serving as a resource of BSA/AML knowledge.

  • Take ownership of special projects as the bank expands into new product lines and ventures

Qualifications

You have:

  • 4-year undergraduate degree Bachelor's Degree required (minimum)

  • 5 years of experience required in administering all aspects BSA/AML compliance with a strong understanding in at least two of the following areas: deposit accounts, commercial lending, or credit cards

  • 2 years of experience required in managing BSA/AML personnel

  • Demonstrated abilities to develop and implement compliance policies, strategies, and work processes across multiple work streams and product lines

  • Experience understanding legal and regulatory concepts and converting them into relevant, practical business requirements

Additional Information

At Square, we value diversity and always treat all employees and job applicants based on merit, qualifications, competence, and talent. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status. We will consider for employment qualified applicants with criminal histories in a manner consistent with the requirements of the San Francisco Fair Chance Ordinance. Applicants in need of special assistance or accommodation during the interview process or in accessing our website may contact us by sending an email to assistance(at)squareup.com. We will treat your request as confidentially as possible. In your email, please include your name and preferred method of contact, and we will respond as soon as possible.

Perks

At Square, we want you to be well and thrive. Our global benefits package includes:
  • Healthcare coverage
  • Retirement Plans
  • Employee Stock Purchase Program
  • Wellness perks
  • Paid parental leave
  • Paid time off
  • Learning and Development resources