Principal Manager Compliance CIB – AML & Sanctions PSP Specialist

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The Compliance CIB team is searching for a Principal Manager profile to lead the development of the CIB’s AML & Sanctions Compliance program related to the activities carried out by Payment Services Providers (PSPs) to which the Bank provides services.

About the job:

The main tasks will be, not only in general terms but also especially focus on managing the relationships between BBVA and PSPs, as follows:

Coordinate globally from a Compliance perspective the relation with PSPs in order to ensure a consistent approach in terms of a centralized onboarding process, a unique register of PSPs and a holistic view of the global relationship with each PSP.

Development of BBVA’s AML policies and procedures on relationships with PSPs related to client onboarding, customer AML risk rating, financial sanctions, politically-exposed persons, transaction monitoring, name and transactions screening, among others.

Design and foster the implementation of a PSP-specific control framework to ensure the proper mitigation of AML & Sanctions risks, including the set up of the governance with the Financial Crime Prevention Hub of CIB, the business areas and the PSPs representatives.

Conduct and oversee risk assessments for money laundering and terrorist financing related to PSPs activities and services provided by BBVA to them.

Advise business units on processes and best practices to ensure regulatory compliance and proper AML risk mitigation in the course of the CIB businesses.

Coordinate the response to supervisory examinations and inquiries , as well as to external and internal audits.

Participate in projects to develop new processes or adapt the current ones that mitigate the AML risk, on topics such as client onboarding, transaction monitoring, screening, risk assessment, etc.

Design specific AML monitoring scenarios for PSP activity, in collaboration with the Financial Crime Prevention Hub of CIB, and foster their implementation in BBVA’s AML monitoring systems.

Participate in internal committees for the identification, assessment and reporting of suspicious activities carried out by PSPs to competent authorities.

Develop a mitigation framework for relationships with PSPs in BBVA’s internal control system -MIGRO- and implement it with the relevant Risk Control Assurance teams within the first line of defense for periodic testing of the control framework.

Promote AML/CFT awareness and deliver training sessions on PSPs risks and business models to relevant business and support units.

Participate in internal and external audits, regulatory exams and RFIs received from correspondent banks and other stakeholders within the AML function.

Requirements:

We require a senior profile with at least 7 years of experience in the financial services industry and a minimum of 5 years of proven experience in the Payment Service Providers (PSP) space.

Experience in Compliance, AML, Financial Crime or other control functions (Internal Audit, Internal Control…) will be highly valued.

The person must be familiar with CIB activities and businesses and understand how the main CIB activities (global markets, investment banking & finance, global transaction banking) may give rise to money laundering and international financial sanctions’ risks.

Deep knowledge of AML and PSD2 regulations is also required.

The person must be comfortable interacting with senior management and delivering high-quality solutions under tight deadlines to a demanding business area.

Management abilities are required. The person will need to manage the relationship with international teams from different areas (Business, Compliance, IT, Legal…) in order to coordinate cross-functional key projects related to the development of BBVA CIB’s AML program with PSPs.

Fluency in English is a must.

Excellent communication and negotiation skills are required as the position requires frequent interaction with senior representatives from BBVA and PSPs.

Analytical skills are also required because the person will be responsible for the oversight of the AML monitoring and screening processes carried out by the Financial Crime Prevention Hub with a strong focus on the PSP sector.

High level of integrity, ethics , and confidentiality.

Results–driven with a proactive approach to regulatory challenges.

Skills:

English Language, Technical English