Job Location : Anchor,IL, USA
Job Title: Vice President-Assistant Bank Operations (Payments & Risk/Compliance)
Location: Anchor, IL
Reports to: Controller + Dual Reporting with CR & BSA/AML Officer
Pay Range: Pay based upon experience and qualifications+ (Dental, Vision, & Health Benefits)
Summary: The Operations Assistant of Payments & Risk/Compliance plays a key role in supporting the bank's risk, compliance, and operation functions, with a specific focus on the Banking-as-a-Service (BaaS) model. The role is responsible for monitoring regulatory compliance, operational risks, and third-party risk exposure associated with fintech partnerships. This individual will help ensure the bank meets all regulatory expectations while enabling innovation through secure and compliant BaaS operations.
Key Responsibilities:
Operations Support (67% Commitment)
Assist with daily payments/BaaS operations, including account maintenance and reconciliations.
Ensure timely and accurate processing of payment modalities, including, ACH, Wire, and Fednow.
Support operational projects system updates, and procedural changes.
Serve as a point of contact for branch staff on operational and procedural questions.
Risk, Compliance & Payments Oversight: (33% Commitment)
Ensure the bank's compliance with all applicable banking laws, regulations, and internal policies.
Assist in maintaining and implementing internal controls, policies, and procedures related to BSA/AML, OFAC, and regulatory compliance when it applies to BaaS and traditional banking.
Support the implementation and maintenance of risk management programs tailored to BaaS activities, including third party risk management, data security, and compliance.
Help with the preparation and review of examinations and audits, responding to findings and implementing improvements.
Conduct periodic transaction monitoring and reporting.
Collaborate with banks' affiliates and business partners to expand capabilities and enhance client experience.
Maintain issue tracking logs for internal findings, audit items, or partner performance concerns, and follow up on remediation.
Conduct compliance reviews and risk assessments of fintech partners, including onboarding due diligence and periodic monitoring aligned with bank policies and FDIC guidance.
Assist in ongoing compliance monitoring for applicable regulations, including BSA/AML, UDAAP, EFTA, Reg E, Reg Z, GLBA, and CFPB expectations specific to fintech-partnered banking models.
Track regulatory developments (e.g., OCC, FDIC, CFPB, FFIEC) that impact BaaS operations and assist in assessing impact to the bank and its partners.
Prepare risk dashboards, compliance reports, and updates for senior management, BaaS committees, and the board.
Additional Responsibilities:
Participate in community activities and represent the bank in a professional and social manner.
Assist with other duties as assigned.
Preferred Qualifications:
Bachelor's degree in Business, Finance, Law, or a related field.
2–4 years of experience in bank risk management, regulatory compliance, or audit, ideally within a BaaS, fintech, or third-party risk environment.
Working knowledge of regulatory expectations around third-party oversight and embedded banking models (e.g., FDIC FIL 44-2008, FIL 29-2021).
Strong organizational and analytical skills, with ability to communicate complex regulatory requirements clearly.
Proficient in Microsoft Excel, Word, and PowerPoint; experience with GRC or vendor management platforms (e.g., VComply, LogicGate, Venminder) a plus.
Ability to work independently in a fast-paced, high-growth environment while managing multiple competing priorities.
Supervisory Responsibilities:
Initially, this job does not have any supervisory responsibilities.
Qualifications:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
The requirements listed below are representative of the knowledge, skill, and/or ability required.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Language Skills:
Must possess strong verbal and written skills in order to effectively communicate with ASB management, auditors, and other outside parties. Must be able to effectively present information to top management, auditors, and regulators, and/or boards of directors. Ability to write reports is critical.
Management Skills:
Must have strong time management skills to ensure the timely completion of reports and filings.
Mathematical Skills:
Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations. Incumbent should also have a good grasp of financial and accounting concepts.
Reasoning Abilities:
Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
Other Skills and Abilities:
Self-directed; ability to handle multiple projects independently, excellent interpersonal skills. Experienced with computers having a Windows Environment and using MS Office products including Word and Excel.
Other Qualifications:
Knowledge of community bank accounting and regulation is preferred.
Be able to pass a credit and background check.
Physical Demands:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle, or feel; reach with hands and arms; and talk or hear. The employee is occasionally required to stand; walk; and stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and ability to adjust focus.