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Optum Bank - AML Compliance Manager - Remote

Company: UnitedHealth Group
Location: Draper
Posted on: September 22, 2022

Job Description:

Combine two of the fastest-growing fields on the planet with a culture of performance, collaboration and opportunity and this is what you get. Leading edge technology in an industry that's improving the lives of millions. Here, innovation isn't about another gadget, it's about making health care data available wherever and whenever people need it, safely and reliably. There's no room for error. Join us and start doing your life's best work.(sm)The Optum Bank Anti-Money Laundering Compliance Manager will focus on ensuring systems, processes, and controls to prevent and detect money laundering and other illicit financial activities for the Bank's deposit (Health Savings Accounts), and commercial and consumer lending market, as well as on the ongoing risk assessment, monitoring, due diligence, and oversight of third parties and affiliates for whom the Bank processes payments and/or acts as a card or Bank Identification Number (BIN) sponsor. This position will focus on the risks associated with Anti Money Laundering and other illicit financial activity to ensure that, from a Bank regulatory and oversight perspective, such risks are appropriately identified, monitored, managed, and controlled and that the Bank has the appropriate risk infrastructure and management controls to prevent, detect, and mitigate risk of financial crimes and other illicit financial activity.This position offers fully remote or hybrid schedule in Salt Lake City, UT. If you are in Salt Lake City, UT (hybrid in Salt Lake City office and remote) you will have the flexibility to telecommute* as you take on some tough challenges.Primary Responsibilities:

  • Implement and manage oversight of applicable systems, processes, and controls to identify, prevent, and manage illicit financial crimes risk in commercial and consumer banking and lending programs
  • Oversee the Anti-Money Laundering and Compliance Management System(s) of Optum Bank and applicable affiliate and third-party businesses to ensure compliance with relevant Customer Identification Program, Bank Secrecy Act/Anti-Money Laundering, and identification and prevention of illicit financial activities requirements, as well as applicable consumer protection regulations, regulatory best practices, and consistency with applicable Bank policies and procedures
  • Perform and document relevant risk assessments to determine current risk levels and develop and execute an appropriate risk-based oversight, monitoring, and testing regime to ensure the Bank and third-party business processes and practices meet regulatory and Bank oversight expectations
  • Compliance vendor management and ongoing oversight of third party and affiliate entities for whom the Bank processes payments or acts as incentive card or BIN sponsor, including review and challenge of compliance-related vendor deliverables; monitoring and testing of compliance adherence (review of partner testing reports and independent Bank testing of partner)s, including development and documentation of appropriate Bank policies and procedures; participation in relevant partner and Bank oversight committees and governance processes; and offsite and onsite monitoring and testing to ensure regulatory adherence and appropriate oversight of the partner compliance programs, including integration into appropriate Bank governance and reporting processes
  • Review and approve customer facing correspondence, forms, websites, etc.
  • Oversee applicable compliance training completion and oversight for appropriate Bank and third party employees. Validate compliance training program is comprehensive and appropriate for applicable laws and regulations
  • Assisting in revising applicable lending and compliance policies and procedures to reflect current regulatory requirements and the Bank's expectations
  • Review, analyze, and report to management regarding complaints, disputes, fraud, and other applicable metrics to detect, investigate, and mitigate potential illicit financial activities and compliance concerns
  • Preparation and presentation of applicable oversight and reporting metrics for the Bank's governance committees, processes, and reporting to the Board of Directors
  • Keep abreast of regulatory environment and industry trends, regulatory changes, regulatory and examination priorities and other relevant statutes and guidance
  • Establish guidelines and procedures for identifying and investigating suspicious transactions, auditing financial records, and responding to issues on non-compliance.
  • Partner with business units to identify and resolve anti-money laundering, OFAC, and suspicious activity issues
  • Provide Board Level reporting on the overall BSA/AML Program
  • Draft, review, or Approve Suspicious Activity Reports, as needed
  • Manage projects throughout a fast-paced the organization (in person or virtual)
  • Analyze and interpret governmental regulations, regulatory guidance, and manuals, and implement appropriate policies and procedures to ensure compliance
  • Identify and correct bank regulatory and risk management deficiencies and implement appropriate controls to prevent recurrence -You'll be rewarded and recognized for your performance in an environment that will challenge you and give you clear direction on what it takes to succeed in your role as well as provide development for other roles you may be interested in.Required Qualifications:
    • Bachelor's degree in Finance, Business, or related field
    • 4+ years working in a bank or other financial institution with duties focused on anti-fraud, anti-money laundering, and/or third-party payment processing or card issuance or sponsorship activities. Functional experience would include managing BSA/AML and/or anti-fraud programs for large business relationships and expectations for beneficial ownership, customer due diligence, expanded due diligence, customer risk ranking and monitoring, etc.
    • Ability and willingness to travel up to 25%
    • Full COVID-19 vaccination is an essential job function of this role. Candidates located in states that mandate COVID-19 booster doses must also comply with those state requirements. UnitedHealth Group will adhere to all federal, state and local regulations as well as all client requirements and will obtain necessary proof of vaccination, and boosters when applicable, prior to employment to ensure compliance. Candidates must be able to perform all essential job functions with or without reasonable accommodationPreferred Qualifications:
      • Advanced degree or relevant professional banking certifications (CAFP, CAMS, CRCM, etc.)
      • Prior regulatory experience or experience in managing regulatory examinationsTo protect the health and safety of our workforce, patients and communities we serve, UnitedHealth Group and its affiliate companies require all employees to disclose COVID-19 vaccination status prior to beginning employment. In addition, some roles and locations require full COVID-19 vaccination, including boosters, as an essential job function. UnitedHealth Group adheres to all federal, state and local COVID-19 vaccination regulations as well as all client COVID-19 vaccination requirements and will obtain the necessary information from candidates prior to employment to ensure compliance. Candidates must be able to perform all essential job functions with or without reasonable accommodation. Failure to meet the vaccination requirement may result in rescission of an employment offer or termination of employment.Careers with Optum. Here's the idea. We built an entire organization around one giant objective; make health care work better for everyone. So when it comes to how we use the world's large accumulation of health-related information, or guide health and lifestyle choices or manage pharmacy benefits for millions, our first goal is to leap beyond the status quo and uncover new ways to serve. Optum, part of the UnitedHealth Group family of businesses, brings together some of the greatest minds and most advanced ideas on where health care has to go in order to reach its fullest potential. For you, that means working on high performance teams against sophisticated challenges that matter. Optum, incredible ideas in one incredible company and a singular opportunity to do your life's best work.(sm)Optum Bank is a leader in advancing digital, analytics, and technology to connect healthcare and finances in unprecedented ways. Optum Bank creates solutions for healthcare payers, providers, and consumers to simplify the healthcare experience and create value, address the cost of care, and make the healthcare system work better for everyone.*All Telecommuters will be required to adhere to UnitedHealth Group's Telecommuter Policy.Colorado, Connecticut or Nevada Residents Only: The Salary -range for Colorado residents is $82,100 to $146,900. The Salary -range for Connecticut/Nevada residents is $90,500 to $161,600. -Pay is based on several factors including but not limited to education, work experience, certifications, etc. In addition to your salary, UnitedHealth Group offers benefits such as, a comprehensive benefits package, incentive and recognition programs, equity stock purchase and 401k contribution (all benefits are subject to eligibility requirements). No matter where or when you begin a career with UnitedHealth Group, you'll find a far-reaching choice of benefits and incentives.Diversity creates a healthier atmosphere: UnitedHealth Group is an Equal Employment Opportunity/Affirmative Action employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, protected veteran status, disability status, sexual orientation, gender identity or expression, marital status, genetic information, or any other characteristic protected by law. - - - - -UnitedHealth Group is a drug - free workplace. Candidates are required to pass a drug test before beginning employment. - - -

Keywords: UnitedHealth Group, Draper , Optum Bank - AML Compliance Manager - Remote, Executive , Draper, Utah

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