Veritas Partners · 5 days ago
Compliance and Financial Crimes Director
Washington, DC
Full-time
Onsite
Director/Executive
$250K/yr - $300K/yr
12+ years expVeritas Partners is seeking a Compliance and Financial Crimes Director to lead and manage second line functions providing oversight for fraud prevention and financial crimes controls. The role involves developing risk-based strategies, managing BSA/AML compliance, and ensuring effective fraud risk management across the organization.
Human ResourcesRecruitingStaffing Agency
Hiring Manager
Joe Tamberrino
Responsibilities
Lead and manage three second line functions providing independent oversight and challenge to first line fraud prevention and financial crimes controls
Develop and execute comprehensive risk-based strategies for fraud oversight and financial crimes compliance aligned with the bank's risk appetite and regulatory requirements
Assess the design and operating effectiveness of first line controls across all business lines, channels, and product offerings
Challenge first line risk-taking activities and escalate concerns regarding control deficiencies, emerging risks, or risk appetite breaches
Establish and monitor key performance and risk indicators, metrics, and reporting frameworks to provide enterprise-wide visibility into fraud and financial crimes risks
Directly manage the designated BSA/AML Officer administratively and provide strategic direction, resources, and support for the bank's BSA/AML compliance program
Ensure the BSA/AML Officer maintains the authority, independence, and resources required by federal regulations to effectively discharge their responsibilities
Provide the BSA/AML Officer with unfettered direct access to the Chief Risk Officer, CEO, and Board of Directors/Board committees without requiring escalation through this role
Protect the BSA/AML Officer's independence to report regulatory concerns, file Suspicious Activity Reports, and escalate issues without interference
Ensure the BSA/AML program maintains effective controls for customer due diligence, suspicious activity monitoring and reporting, currency transaction reporting, and OFAC sanctions screening
Oversee the development and annual refresh of the Bank's BSA/AML risk assessment
Provide senior-level review and strategic guidance on complex or escalated Suspicious Activity Reports while respecting the BSA/AML Officer's ultimate filing authority
Ensure the BSA/AML program adapts to evolving regulatory expectations, emerging typologies, and changes in the bank's risk profile
Manage relationships with transaction monitoring system vendors and oversee system optimization and tuning
Oversee the second line fraud risk management function, providing independent assessment of fraud prevention, detection, and response capabilities across the enterprise
Evaluate the effectiveness of fraud controls spanning wire, ACH, card, check, digital banking, and emerging payment channels
Monitor fraud loss trends, velocity, and patterns; challenge first line on control enhancements and risk mitigation strategies
Assess fraud risk in new products, services, channels, and partnerships before implementation
Oversee the Bank's fraud risk appetite framework and escalate breaches or concerning trends
Lead the independent quality assurance function that performs risk-based quality assurance of both BSA/AML and fraud functions
Develop annual risk-based QA testing plans covering transaction monitoring alert/case disposition, SARs. CTRs, fraud case management
Ensure QA findings are appropriately documented, rated, and tracked through remediation
Validate that corrective actions address root causes and prevent recurrence
Ensure QA activities support, rather than impede, the BSA/AML Officer's independence and authority
Maintain current knowledge of evolving BSA/AML regulations, fraud-related guidance, and regulatory expectations from FinCEN, OCC, FDIC, Federal Reserve, and other applicable agencies
Serve as senior liaison with regulators during examinations related to fraud and financial crimes, coordinating responses and managing examination logistics in partnership with the BSA/AML Officer
Oversee timely and accurate regulatory reporting and filings through the BSA/AML Officer
Chair or participate in governance committees related to fraud risk and financial crimes
Provide regular risk reporting to the Chief Risk Officer, executive leadership, and Board Risk Committee on fraud and financial crimes exposure, trends, and program effectiveness
Facilitate the BSA/AML Officer's direct reporting to the Board of Directors (or designated Board committee) at least annually, and more frequently as circumstances require
Manage issue remediation processes, ensuring timely closure of audit findings, regulatory issues, and internal control deficiencies
Develop and maintain policies, procedures, and standards for fraud and financial crimes risk management, ensuring BSA/AML policies reflect the Officer's authority and independence
Build, lead, and develop high-performing second line teams with deep technical expertise in fraud risk, BSA/AML compliance, and quality assurance
Any other tasks as needed commensurate with the role/position
Qualification
Required
Bachelor's degree in Finance, Business, Criminal Justice, Risk Management, or related field required; advanced degree (MBA, JD, or Master's) preferred
Minimum 12-15 years of progressive experience in fraud risk management, BSA/AML compliance, financial crimes, or risk oversight, with at least 7 years in senior leadership roles
Proven track record building and leading fraud and/or BSA/AML programs in banking or financial services
Experience managing through regulatory examinations, addressing findings, and maintaining regulatory relationships
Demonstrated understanding of BSA/AML Officer independence requirements and ability to enable compliance while providing oversight
CAMS (Certified Anti-Money Laundering Specialist) or CFE (Certified Fraud Examiner) certification required; both highly preferred
Comprehensive knowledge of BSA/AML regulations (Bank Secrecy Act, USA PATRIOT Act, FinCEN regulations), OFAC requirements, and fraud-related laws
Deep understanding of regulatory expectations regarding BSA/AML Officer authority, independence, and governance
Preferred
Advanced degree (MBA, JD, or Master's) preferred
Prior experience overseeing or serving as a BSA/AML Officer strongly preferred
CAMS (Certified Anti-Money Laundering Specialist) or CFE (Certified Fraud Examiner) certification required; both highly preferred
Company
Veritas Partners
Veritas Partners is a boutique recruiting firm specializing in professional and executive talent acquisition.
2-10 employees
Funding
Current Stage
Early StageLeadership Team
Joe Tamberrino
CEO and Founding Partner
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