Compliance Officer

POSITION PURPOSE

 

Responsible for ensuring that ProPay Inc. is in compliance with all card association, and state and federal regulations. Reviews and appraises the soundness, adequacy, effectiveness, and proper application of new accounts, and financial controls and of credit/risk underwriting. Assesses the adequacy and extent of programs designed to safeguard ProPay Inc. assets.  Assists with all internal audits.  Compiles and issues reports detailing conclusions and providing recommendations for improvement.  Prepares and files reports with government agencies as directed by State and Federal law as well as all credit card association requirements.

 

 

ESSENTIAL FUNCTIONS AND BASIC DUTIES

 

1. Assumes responsibility for ProPay Inc.  compliance with all applicable laws, rules, regulations, and policies.

 

a. Manages, implements, and ensures compliance with applicable financial laws and regulations.  Analyzes and reports data as required.

 

b. Reviews and implements regulatory changes.  Compiles reference resources for ProPay Inc.?s daily use to ensure compliance with regulations.

 

c. Assists Senior Management in developing policies and procedures for compliance issues.  Conducts periodic reviews of existing policies to ensure accuracy, efficiency, and effectiveness.

 

d. Ensures that policies and procedures are updated and are in accordance with evolving regulations, legal requirements, and industry trends.

 

e. Develops plans to ensure ongoing implementation of Bank financial practices.

 

 f.Works with the Human Resources Department and others as appropriate to develop an effective compliance training program, including appropriate introductory training for new employees as well as ongoing training for all employees and managers.

 

 

QUALIFICATIONS

 

Education/Certification: College degree in Business Administration, Accounting, Finance, or related field preferred.

  Certified Anti-Money Laundering Specialist (CAMS) or Certified Regulatory Compliance

  Manager (CRCM) certification strongly preferred.

 

Required Knowledge  : Thorough knowledge of applicable federal and state financial regulations. VISA/MasterCard

  regulations as well as PCI compliance experience.

  Understanding of  credit card processing, new account underwriting procedures and

  documentation, and auditing.

 

Experience Required:Five +  years of experience in related regulatory compliance capacity, preferably with

  minimum of 3 years experience in direct merchant services compliance activities

 

Skills/Abilities:  Broad-based knowledge of merchant services  business processes, services and products.

  Solid analytical and problem solving skills.

  Attentive to detail and observant.

  Good communication skills.

  Effective public relations abilities.

  Creative and able to develop innovative solutions.

  Proven ability to work with high level clients and deal with complex issues