Compliance Manager, Fintech Sponsorship
About the role
The Specialized Banking Center (SBC) at Needham Bank provides business banking services for high-risk industries, including cannabis-related businesses, money services businesses, and fintech partners. This full-time, hybrid role is part of the growing SBC Compliance team and is responsible for overseeing compliance across the SBC portfolio, with a primary focus on the Bank’s fintech sponsorship and MSB programs.
Responsibilities
- Lead first line compliance of the Bank’s fintech sponsorship and money services business programs, coordinating with SBC leadership, Risk and Compliance, and BaaS intermediaries.
- Maintain effective procedures and controls while improving the overall customer experience related to regulatory requirements.
- Conduct annual and quarterly reviews, coordinating with customers and stakeholders throughout the Bank.
- Prepare and deliver reporting on program compliance, risks, and key metrics to senior management and the Board of Directors.
- Conduct customer outreach to support CIP/KYC and unusual activity escalations.
- Maintain current knowledge of industry news and regulatory updates.
- Perform enhanced due diligence on applying businesses and their related parties during customer onboarding.
- Maintain accurate and complete customer profiles and documentation in accordance with recordkeeping requirements.
- Manage compliance alerts and cases related to state/federal licensing and registration, investigations, etc. and keep diligent notes.
- Support the SBC Operations and Compliance Manager.
- Perform other duties as assigned.
Requirements
- Ability to develop a strong rapport with customers and internal stakeholders.
- Self-starter; ability to work independently as well as within the team framework.
- Excellent time management skills and the ability to balance multiple priorities.
- Strong analytical ability, attention to detail and organizational skills.
- Ability to maintain professionalism at all times.
- Intellectual curiosity and desire to continue to learn and develop everyday.
- Advanced knowledge of Microsoft Office/365 applications with an emphasis on Excel.
- Ability to commute to the Medford office on a regular basis.
Qualifications
- Bachelor’s degree or equivalent experience.
- 3+ years in fintech, BaaS (Banking as a Service), sponsorship, embedded banking, embedded finance compliance.
- 6+ years in banking, financial services, regulatory compliance, BSA/AML.
Skills
- Knowledge of regulatory requirements and compliance standards.
- Experience with customer onboarding and due diligence processes.
- Ability to manage multiple projects and tasks simultaneously.
- Strong communication and interpersonal skills.
- Proficiency in Microsoft Office/365 applications.
Benefits
Needham Bank offers a competitive salary and an amazing benefit package for a full-time employee which includes fully paid medical and dental insurance, HRA, 401(k) plan with an 8% bank match, paid time off (PTO), paid holidays, a bonus program, flexible spending accounts, vision service plan, group term life insurance, short and long term disability insurance, tuition reimbursement, and an Employee Assistance Program. We offer a great benefit package to our eligible part-time employees as well.
Pay
The pay range provided is based on what we believe is a reasonable estimate for the pay range for this job at the time of posting. Actual pay may vary based on experience, skills, and market factors; additional compensation may apply.
Schedule
This is a full-time, hybrid role.