Job Description:
Role Title: AVP, Transaction Monitoring (L10)
Company Overview:
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry’s most complete digitally enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoors, pet and more.
We have recently been ranked #2 among India’s Best Companies to Work for by Great Place to Work. We were among the Top 50 India’s Best Workplaces in Building a Culture of Innovation by All by GPTW and Top 25 among Best Workplaces in BFSI by GPTW. We have also been recognized by AmbitionBox Employee Choice Awards among the Top 20 Mid-Sized Companies, ranked #3 among Top Rated Companies for Women, and Top-Rated Financial Services Companies.
We provide best-in-class employee benefits and programs that cater to work-life integration and overall well-being.
We provide career advancement and upskilling opportunities, focusing on Advancing Diverse Talent to take up leadership roles.
Organizational Overview:
Synchrony's Risk Team provides independent oversight of Synchrony’s risk-taking activities to ensure safety and soundness, meet regulatory and legal requirements, and manage risks to the risk-appetite of the Board. Risk is responsible for independently assessing, quantifying, and overseeing risks & providing effective challenge. Risk serves as Synchrony’s Second Line of Defense.
Overall, Risk Team oversees and manages the Risk Program to support the business in anticipating and addressing risks, issues and challenges. Results are consistent with the respective strategic uses and complying with related overall risk, risk testing policies, standards, procedures as well as regulations. Our Risk organization consists of 4 pillars: Compliance, Credit & Financial Risk, Enterprise Risk and Operational Risk. Each of the pillars play a vital role in managing Risk and supports the business in anticipating and addressing risks, issues, and challenges
Role Summary/Purpose:
This position provides support to BSA/AML Sanctions and is responsible for various quality control oversight and monitoring activities associated with AML Sanctions to ensure compliance. This position also includes team management
Key Responsibilities:
Assess the Quality Assurance reviews performed by 2LOD to identify gaps, coaching, and process enhancement opportunities.
Periodically review, monitor, and recommend changes to transaction monitoring procedures, job aids, and process maps for accuracy and completeness
Escalate concerns to Transaction Monitoring Management with recommendations for resolution.
Represent the BSA/AML/OFAC team as the point of contact for the Internal Audit/Risk testing engagements as it pertains to questions and deliverable requests.
Directly manage and mentor a team of Senior Analysts and Managers ensuring there are clear goals and role expectations.
Support and identify training needs through regular assessments, performance metrics, business and employee feedback and develop training solutions to address those needs effectively.
Prepare on-going monitoring reports and dashboards for by the BSA/AML/OFAC leadership team.
Work with 1LOD and 2LOD teams to ensure all documents are maintained in accordance with Synchrony required standards.
Work with the Leadership team on executing and updating changes to existing program including Money Laundering Risk Assessment, Sanctions Risk Assessment, Risk Assessment Attestations, Trigger-Based Reviews, and program scorecard.
Participate in regulatory exams.
Projects as assigned by BSA/AML/OFAC leadership team.
Required Skills/Knowledge:
Bachelor’s degree (or foreign equivalent) in any discipline and 5+ years’ experience in AML Transaction Monitoring within financial services, banking, or retail, retail or in lieu of degree, 7+ years' experience in AML/BSA/OFAC within financial services, banking, or retail.
5+ years’ experience with the application of US regulatory requirements for AML Transaction Monitoring
Excellent written and oral communication and presentation skills.
Desired Skills/Knowledge:
Independent worker, analytical and critical thinker; ability to multi-task and work in a fast-paced environment.
Ability to manage a team.
Knowledge of general banking with an understanding of deposit and lending products.
Knowledge and expertise of AML Transaction Monitoring laws and regulations, BSA and FFIEC Examinations Manual.
Experience using systems such as FDR/Fiserv, Aperio, and Actimize.
Previous experience in AML, Compliance or Fraud preferred.
Eligibility Criteria:
Bachelor’s degree (or foreign equivalent) in any discipline and 5+ years’ experience in AML Transaction Monitoring within financial services, banking, or retail, retail or in lieu of degree, 7+ years' experience in AML Transaction Monitoring within financial services, banking, or retail.
Work Timings: 1:30 PM - 10:30 PM IST
This role qualifies for Enhanced Flexibility offered in Synchrony India and will require the incumbent to be available between 06:00 AM Eastern Time – 11:30 AM Eastern Time (timings are anchored to US Eastern hours and will adjust twice a year locally). This window is for meetings with India and US teams. The remaining hours will be flexible for the employee to choose. Exceptions may apply periodically due to business needs)
We are proud to offer flexibility at Synchrony. Our way of working allows you the option to work from home or workspaces in our Regional Engagement Hubs—Hyderabad, Bengaluru, Pune, Kolkata, or Delhi/NCR.
Occasionally you may be required to commute or travel to Hyderabad or one of the Regional Engagement Hubs for in person engagement activities such as business or team meetings, trainings, and culture events.
For Internal Applicants:
Understand the criteria or mandatory skills required for the role, before applying
Inform your manager and HRM before applying for any role on Workday
Ensure that your professional profile is updated (fields such as education, prior experience, other skills) and it is mandatory to upload your updated resume (Word or PDF format)
Must not be on any corrective action plan (First Formal/Final Formal, LPP)
L8+ Employees who have completed 18 months in the organization and 12 months in current role and level are only eligible.
L8+ Employees can apply
Grade/Level: 10
Job Family Group:
Risk Management