Posted 24 Jan 2024, 6:54 pm

AML BSA Officer at BitPay

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As AML/BSA Officer at BitPay, you will play a critical role in ensuring our compliance and risk operations comply with all relevant regulations, including those established by the New York Department of Financial Services (NYDFS). You will be responsible for implementing and overseeing the AML/BSA program to identify, prevent, and report any suspicious activities related to money laundering and terrorist financing, and is also a business-focused strategist responsible for harmonizing risk management with organizational goals, enhancing overall business resilience and possess strong communication skills to convey risk and compliance concepts, and drive agile decision-making in collaboration with other department leaders. You will also have primary responsibility for conducting and overseeing internal risk assessments, including engaging with and directing third party audit vendors

If you are a highly motivated and experienced compliance and risk specialist with a proven track record in regulatory compliance and project management, we encourage you to apply. Join our team and play a pivotal role in ensuring our organization's commitment to compliance and regulatory excellence.


  • Develop and maintain the AML/BSA program, policies, and procedures in line with NYDFS regulations
  • Regularly update AML/BSA policies and procedures to adapt to changes in regulations and industry best practices
  • Oversee day to day management of the AML/BSA/OFAC program across the organization.
  • Conduct enhanced due diligence on high-risk customers
  • Establish and maintain customer risk profiles
  • Prepare and submit SARs to the Financial Crimes Enforcement Network (FinCEN) and other relevant agencies in accordance with regulatory requirements
  • Conduct AML training for employees to ensure they are aware of AML policies and procedures
  • Stay up-to-date with all relevant AML/BSA regulations, guidance, and best practices
  • Collaborate with internal and external auditors during AML audits
  • Conduct ongoing risk assessments to identify and mitigate potential AML risks
  • Lead risk assessment projects with cross-departmental teams in conducting enterprise risk assessments including managing and directing third party audit firms as needed
  • Strong working knowledge of AML model validations, running independent AML / BSA audits, working with other department leaders to update enterprise risk assessments for new products / enhancements
  • Structures, updates and implements enterprise risk management processes
  • Serves as key liaison with regulators and customers acting as ambassador promoting the brand of the company in all matters regarding risk and control, and actively engages in educating parties on risks
  • Serves as a point for risk management and internal audit role in collaboration with department leaders
  • Leads or participates in committee meetings like Enterprise Risk Committee, Client acceptance committee, Audit Committee, Risk Management Committee, etc
  • Evaluates results of audits, examinations, investigations, prepares reports of findings, and suggests appropriate risk limitations to management.
  • Keeps management apprised of the status of risk mitigation efforts regularly through reports to senior management and Board as requested.
  • Perform quality assurance (QA) reviews of Compliance's risk and control inventory, and control self-assessments for conformance with enterprise policies and standards
  • Develop and oversee control systems to manage all aspects of the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Assets Control (OFAC) programs from a Leadership and Strategic perspective.
  • Assist Audit department with specific testing, schedule planning, coordination with internal/external auditors, & validation of audit findings.
  • Informing and making recommendations of improvements to senior management about BSA-AML processes.
  • Work closely with third parties to ensure NMLS and MLO renewals are completed within the prescribed timeline.


  • A high degree of familiarity and working knowledge of BSA/AML and OFAC concepts and applications in a wide range of operating environments, preferably in the cryptocurrency or financial services / Fintech industry
  • Experience with NYDFS BitLicense and compliance requirements for MSB companies
  • Certified Anti-Money Laundering Specialist (CAMS)
  • Prior audit experience (compliance, financial, or accounting)
  • Excellent written and verbal communication skills, and presentation skills
  • Strong analytical and problem-solving abilities
  • Attention to detail and ability to work independently
  • Bachelor's degree in a related field (e.g., Law, Risk Management, Business)
  • Strong management experience in a broad enterprise risk management role with associated experience overseeing multiple risk areas and aggregating risk exposures
  • Proven ability to interact and work well with internal and external stakeholders (management, Board, regulators, audit firms, etc.)

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Source: Remote Ok