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Director of Financial Crimes Compliance

Cross River
$98k - $100k est.
NJ Fort Lee, New Jersey, United States

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Job Description

Who We Are:

Cross River is a highly profitable fast-growing financial technology company recognized for the third year in a row by CB Insights as one of the 250 best global fintechs. Our comprehensive suite of innovative products powers financial solutions with a strong focus on regulatory compliance for our partners and their millions of consumers around the world.

We are on a mission to build the infrastructure that propels access, inclusion and the democratization of financial services. While our company has tripled in size over the last three years, our strong sense of purpose led Cross River to be named to American Banker’s list of Best Places to Work in Fintech for the last 4 consecutive years. The reason for this success is simple --- our nimble, adaptive, and collaborative family culture lives in every member of our growing team. Together we are at the forefront of technology and innovation in financial services and we invite collaborative and motivated high performers to join our rapidly expanding team.

What we’re looking for:

Cross River’s Financial Crimes Compliance (FCC) team’s role is to ensure that our business is always consistent with current regulations and remains within Cross River’s risk appetite. As part of the FCC team you will play a key role. The Financial Crimes Compliance Director will manage and lead a staff delivering best-in-class AML and OFAC regulatory requirements to prevent, detect and report suspected money laundering and terrorist financing activities.

Primary Responsibilities:

  • Design, develop, deliver, and maintain best-in-class AML Compliance policies and practices; provide a mechanism for identifying key money laundering risks and how the mitigation of those risks would be monitored and measured through a robust control framework. Confirm that reviews are conducted consistently across each entity on a regular basis to validate that the controls identified are operating effectively.
  • Develop and improve upon the Governance and Escalation framework, including metrics and reporting, to inform senior management in a timely manner of emerging issues for prompt action and correction
  • Lead and manage a geographically diverse staff of hybrid employees responsible for the daily execution of Alerts, Investigations and Reporting. Oversee alert/case volumes and providing ongoing analysis of performance, coaching, guidance, and training
  • Monitor AML payments and blockchain industry developments, including red flags and best practices and maintain advanced knowledge of new and amended laws and regulations impacting the FIU, and ensure processes are in place to keep the FIU team updated on such developments
  • Oversees and manages designated AML prevention and detection environments and ensures regulatory and reporting requirements are met
  • Develops and provides decisions on rules for money laundering activities and filing of referrals, further implements best in class toolsets to identify and target ML/TF risks across complex customer/relationships including the use of Machine Learning and AI
  • Oversee the OFAC compliance processes, including the review and escalation of potential matches, filing reports and management of such reports.
  • Interacts with law enforcement and industry and regulatory authorities, as appropriate
  • Collaborates with senior management in developing strategy, business plans/objectives for the team
  • Maintains expert AML and OFAC knowledge and keeps up to date on money laundering typology trends within CRB and industry-wide
  • Advises senior management of AML risk exposure based on suspected activity, employee misconduct or collusion related to ML/TF activity
  • Responsible for management functions including new employee selection, employee development, performance evaluation and corrective action
  • Maintain awareness of national and world events and industry trends through press releases, real-time monitoring, and collaborative relationships with law enforcement, internal or external watch lists or other relevant sources to mitigate the company s reputation or regulatory risk.

Qualifications:

  • Bachelor’s Degree
  • Minimum of 8 years in financial crime detection/investigations; to include 4 years’ experience working within the financial services industry, FinTech experience preferred
  • Extensive knowledge of BSA and AML laws and regulations, including the Bank Secrecy Act, the USA Patriot Act and OFAC requirements
  • 4 or more years of direct team lead supervisory or management experience
  • Knowledge of financial fraud and applicable state and federal laws, payments, MSBs, correspondent banking and complex customer types and product offerings
  • Experience reviewing, editing, and coaching on financial crimes investigation cases
  • Works cooperatively with the business, legal partners, audit, and other risk disciplines across the organization.
  • Demonstrated strong communication skills, written and verbal to include communications to executive management
  • Strong analytical, problem solving and organizational skills
  • Proficient in Microsoft Office products

Preferred Experience:

  • 4 or more years experience engaging with audit, federal regulators, and industry associations
  • Demonstrated ability in developing and maintaining relevant metrics and reporting to effectively measure and enhance function performance across the department
  • 5 or more years managing multiple deliverables in a fast-paced, high-volume environment
  • Working knowledge of SAS AML and SAS Visual Investigator
  • CAMS, CFE, CRCM or equivalent

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