BSA Specialist – Special Risk

BSA Specialist – Special Risk

Company: Synovus Location: USA Work Model: Onsite Contract: Permanent Seniority: Senior Industry: Finance

About the Role

Synovus is seeking a Senior BSA Specialist with a focus on Special Risk to design, implement, and manage customized Anti-Money Laundering (AML), Bank Secrecy Act (BSA), and Office of Foreign Assets Control (OFAC) risk monitoring programs. This role is critical for overseeing complex customer types, including Merchant Acquiring Independent Sales Organizations (ISOs), Payment Facilitators (PayFac), Third Party Payment Processors (TPPPs), and Money Service Businesses (MSBs). You will collaborate closely with business lines to define risk mitigation strategies, conduct onsite reviews, and present findings to executive risk committees.

Key Responsibilities

• Manage enhanced due diligence processes for new and existing Special Risk customers to mitigate risk exposure.
• Serve as the primary point of contact for business lines and all Special Risk customer-related matters.
• Develop and maintain AML/BSA guidelines, policies, and procedures for merchant ISO businesses.
• Apply specialized knowledge of high-risk verticals (e.g., online gaming/gambling, digital assets, money services) to customer oversight.
• Conduct site visits for existing and potential customers, managing documentation review and approval for regulatory compliance.
• Manage all Requests for Information (RFI) related to Special Risk customer types.
• Utilize knowledge of bankcard payment operator network rules (Visa, MasterCard, AMEX, Discover) and processor operating systems to ensure adequate controls.
• Provide guidance and respond to inquiries regarding new or changing regulations impacting payment systems and merchant acquiring.
• Conduct and complete BSA-related reviews and control testing in collaboration with business lines, reporting findings and remediation recommendations.
• Prepare presentations for senior management on Special Risk customers and provide ongoing training to business lines.
• Assist with independent reviews, federal examinations, and interact with auditors/examiners regarding Special Risk relationships and control testing.
• Design, generate, and complete management reports, and assist with new initiatives, process improvements, and special projects.
• Maintain awareness of regulatory developments, industry trends, and ensure compliance with all internal policies, procedures, and applicable laws.

Requirements

• Bachelor's degree or an equivalent combination of education and experience.
• Minimum of six (6) years of job-related experience with an emphasis on BSA Compliance, enhanced due diligence, risk assessments, regulatory compliance, and risk policy/procedures related to merchant ISOs and Third Party Payment Processors.
• Strong knowledge of merchant acquiring business and BSA/AML/OFAC compliance.
• Solid understanding of applicable regulations and regulatory bodies for BSA/AML/OFAC and merchant/card services.
• Familiarity with potential high-risk verticals within ISO merchants, such as gambling and gaming.
• Proficiency with card network rules applicable to merchant acquiring.
• Experience with risk and control testing and risk assessments.
• Excellent judgment and problem-solving skills.
• Ability to confidently facilitate discussions and communicate business messages effectively.
• Strong listening skills and positive communication style.
• Proficiency in writing reports, white papers, and business correspondence.
• Proficiency using relevant systems and databases for risk and control assessment.
• Proficiency in Microsoft Office suite.

What We Offer

• Opportunity to work in a critical role managing high-profile AML/BSA initiatives.
• Collaboration with business lines and senior management.
• Continuous learning and development in a dynamic regulatory environment.
• Synovus is an Equal Opportunity Employer committed to fostering an inclusive work environment.