VP Governance Risk & Compliance

About the role

The VP, Payments Risk & Compliance role reports to the COO and leads a team responsible for governance, risk, and compliance for SWIVEL's payment processing products and services. Key responsibilities include overseeing regulatory and internal audits, developing policies and procedures, and ensuring compliance with laws and regulations.

Responsibilities

• Create and maintain the Payment Enterprise Compliance program and policy development for the Governance, Risk & Compliance team.
• Manage all regulatory, internal, sponsor bank, and other third-party audits and independent reviews.
• Develop and implement internal controls, policies, procedures, and training to ensure compliance with applicable laws, corporate standards, and state-specific regulations and AML/BSA.
• Work cross-functionally with all departments to ensure well-rounded, cross-functional company compliance for new and existing payment initiatives.
• Conduct reviews of contracts, websites, and marketing materials for compliance-related content and disclosures.
• Work with Fraud and Product teams to develop multi-faceted and well-rounded KYC/OFAC policies and information sharing procedures.
• Stay informed of changes to state and federal regulations, Visa/MC, and NACHA rules changes, licensure requirements, and third-party requirements.
• Respond to compliance inquiries from internal and external partners.
• Acquire, maintain, and fulfill all state licensing regulatory obligations, including yearly audits and updates.
• Create defined roles for compliance teams and assist in transitioning fraud/risk and compliance to separate, stand-alone departments.
• Carry out risk assessments and compliance reviews to ensure policies and procedures are being followed.
• Work with Human Resources for Payments Compliance training and development of teams.
• Ensure compliance with FINCEN, including maintaining registration and compliance with obligations as a money services business.
• Maintain applicable SAR, SIR, and OFAC reporting procedures.
• Ensure appropriate level of oversight from the Compliance Risk Committee (CRC), Payments Risk and Compliance Committee, Audit Committee, and provide an early view into emerging risks and the required information to make sound decisions.

Requirements

• Ten (10) years of compliance experience in a risk management, compliance, or internal control related function in financial services or financial technology spaces.
• Three (3) years of multi-state compliance experience in the financial industries.
• Experience working with merchants or providers.
• Demonstrated ability in constructing, developing, delivering, and managing compliance programs and product controls in a fast-paced industry.
• Demonstrated understanding of regulated vs unregulated business models, AML checks and protections, and related regulatory requirements.
• Demonstrated ability to uncover root causes and key risk trends from a wide variety of data sources and create detailed action plans to improve Fraud and AML risk.
• Strong team player with confidence in managing others and comfortable reporting to executive-level supervisors.
• Experience with money transmission and alternative payments types, including channels.
• CAMS, CFE, or equivalent certification is preferred.