VP of Governance, Risk, & Compliance

Responsibilities

• Serves as primary contact and manages all regulatory, internal, sponsor bank, and other third party audits and independent reviews.
• Develops and implements internal controls, policies, procedures, and training to assure compliance with applicable laws, corporate standards, and state-specific regulations and AML/BSA.
• Works cross-departmentally with all departments to ensure well-rounded, cross-functional company compliance for new and existing payment initiatives.
• Conducts reviews of contracts, websites, and marketing materials for compliance related content and disclosures.
• Works with Fraud and Product teams to complete multi-faceted and well-rounded KYC/OFAC policies and information sharing procedures.
• Stays abreast of changes to state and federal regulations, Visa/MC, and NACHA rules changes, licensure requirements and third-party requirements (e.g., payment processors, banks and credit card companies).
• Responds to compliance inquiries from internal and external partners.
• Creates, leads acquisition of, and maintains all state licensing regulatory obligations including yearly audits and updates.
• Creates defined roles for compliance teams and assists in transition of fraud/risk and compliance to separate, stand-alone departments.
• Carries out risk assessments and compliance reviews to ensure policies and procedures are being followed.
• Works directly with Human Resources for Payments Compliance training and development of teams.
• Ensures that compliance issue remediation efforts and change management are sufficient and timely; Review action plans and remediation documentation to support event closure; Participate in root cause analysis and identify customer experience improvement activities.
• Ensures compliance with FINCEN, including maintaining registration and compliance with obligations as a money services business. Maintain applicable SAR, SIR, and OFAC reporting procedures.
• Ensures appropriate level of oversight from the Compliance Risk Committee (CRC), Payments Risk and Compliance Committee, Audit Committee, and ensures the risk committee have an early view into emerging risks and the required information to make sound decisions.

Qualifications

• 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 confident in managing others and comfortable reporting to executive-level supervisors.
• Experience with money transmission and alternative payments type including channels.
• CAMS, CFE, or equivalent certification is preferred.