Regulatory Compliance Analyst/Mgr 2
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South Portland, ME 04106
WEX Inc. (NYSE:WEX) is a leading provider of business to business physical, digital and virtual card payment solutions. WEX’s fleet, corporate and health payment solutions provide its customers – comprising small businesses, large fleets and corporations – with unparalleled security and control across a wide spectrum of business sectors. We are executing against a multi-pronged growth strategy that enables us to maintain our leadership position and we hire people who share our passion for continuous innovation, client service and process improvement. WEX Payments, a subsidiary of WEX Inc., is an industry leader in electronic in-person payment products and stored value bankcard products.
WEX Payments is seeking a self-driven and motivated professional to join their Legal and Compliance Department team, located in Portland, ME. As the Anti-Money Laundering (AML) Compliance Analyst, reporting to the Director of Compliance, you will be responsible for oversight of WEX Payments’ regulatory licensing compliance. As a licensed money transmitter, WEX Payments has a responsibility to maintain compliance with State and Federal laws as well as the AML programs. The Regulatory Compliance Analyst will develop, maintain, and administer the regulatory licensing reporting program within WEX Payments to ensure adequate licensing, bonds, registrations and record keeping in a timely manner in accordance to all deadlines.
The successful candidate will have the opportunity to:
- Perform initial onboarding and ongoing due diligence reviews of all potential agents and partners. All due diligence job functions include communicating with other departments, the agents and partners, collecting documentation, performing online due diligence searches and generating reporting, creating online files and documenting and updating systems.
- Perform transaction monitoring to identify patterns and trends consistent with money laundering, terrorist financing or other illegal activities
- Completes Suspicious Activity Reports (SAR) as required by the Bank Secrecy Act
- Assists Compliance Management to comply with State-specific reporting requirements
- Assist in updating the Enterprise Risk Assessment and the Compliance Risk Assessment
- Assist Compliance Management with audit and exam requests
- Analyze innovative business offerings and work with business teams to ensure they meet regulatory and policy requirements
- Identifying, reporting and ensuring timely and appropriate remediation of any compliance incidents or breaches
- Coordinate with Corporate Compliance to implement centrally managed subject matters
- Degree in management, economic or law.
- Four (4) or more years of experience in compliance, legal, internal audit or related field
- Broad knowledge of laws, regulations and compliance obligations of multinational and/or public companies offering financial services
- Experience supporting projects within a matrixed, multinational organization
- AML/KYC-related certification or willingness to obtain and maintain
Skills and Abilities:
- Ability to work independently, yet still be team-oriented
- Excellent written and verbal communication skills
- Ability to apply strong problem solving skills and excellent judgment to develop practical, business-oriented solutions
- Ability to build strong internal relationships that foster open communications and to act as a resource on compliance and risk issues to business line and functional leaders globally
- Ability to write reports, business presentations, policies, procedures and operating guidelines
- High ethical standards
- Intellectual curiosity and ability to maintain a high level of technical expertise and keep abreast of key compliance and company developments
- Proficient in Microsoft Word, Excel, PowerPoint and G-Suite
- Must complete a successful background investigation
At WEX, we reward innovation, hard work and excellence.
- 401(k) Plan
- Adoption Assistance
- Bonus Plan
- Dental Insurance
- Dependent Life Insurance
- Employee Assistance Program
- Employee Referral Award Program
- Expedition – WEX’s Sabbatical Program
- Extended Parental Leave
- Flexible Spending Accounts (Medical and Dependent)
- Health Insurance
- Life Insurance/AD&D
- On Site Fitness Facility in South Portland location
- Pet Insurance
- Paid Time Off(PTO)
- Short- and Long-Term Disability Programs
- Tuition Reimbursement
Equal Opportunity Employer/Vets/Disability