Full-Time

BSA Analyst

Posted on 9/26/2024

Empower

Empower

51-200 employees

Personal finance management and credit building

Fintech
Financial Services

Junior, Mid

Remote in USA

Category
Risk Management
Finance & Banking
Requirements
  • BA/BS degree or equivalent practical work experience
  • CAMS or similar professional certification (preferred)
  • 2+ years of experience assessing and reviewing fraud/BSA/AML alerts and escalations for potentially suspicious activity
  • 3+ years of experience directly interfacing with internal and external customers
  • Strong investigative and analytical skills
  • Ability to work independently and in a team environment
Responsibilities
  • Review and decision BSA/AML Transaction Monitoring and Fraud alerts
  • Conduct periodic High Risk/Enhanced Due Diligence reviews
  • Prepare reports on BSA/AML (and fraud) issues and compile SAR referral narratives and prepare SAR referrals for review
  • Document and update BSA/AML and fraud systems
  • Review customer-submitted information & documentation for inconsistencies
  • Regularly report on/escalate situations that require higher-level review
  • Actively discuss and provide your thoughts & recommendations, both internally and with our partner, on our BSA/AML processes, procedures, and alert rulesets

Empower.me provides personal finance management and credit building services through a subscription model. Users can sign up for a 14-day free trial, after which they pay $8 per month for access to various financial tools. These tools include customizable payment plans, budgeting features, and credit score monitoring. A key aspect of Empower.me is its focus on helping users build credit by reporting their payments to credit bureaus, which can enhance their credit history if payments are made on time. Additionally, the company offers a Thrive line of credit, which involves a soft inquiry on the user's credit report, ensuring no impact on their credit score. Empower.me stands out from competitors by specifically targeting individuals with no minimum credit score and providing resources to improve their financial health.

Company Stage

Late Stage VC

Total Funding

$96.8M

Headquarters

San Francisco, California

Founded

2016

Growth & Insights
Headcount

6 month growth

12%

1 year growth

31%

2 year growth

121%
Simplify Jobs

Simplify's Take

What believers are saying

  • Empower's acquisition of Petal and Cashalo expands its market reach and service offerings.
  • Growing demand for financial literacy tools among Gen Z and Millennials benefits Empower.
  • Increased regulatory focus on financial inclusion aligns with Empower's mission.

What critics are saying

  • Integration challenges from acquiring Petal and Cashalo may disrupt service delivery.
  • Increased competition from fintech companies like Chime and Varo could impact market share.
  • Regulatory scrutiny on credit services may increase compliance costs for Empower.

What makes Empower unique

  • Empower offers a unique subscription-based model for financial management tools.
  • The company focuses on credit building by reporting payments to credit bureaus.
  • Empower's Thrive line of credit involves a soft inquiry, not affecting credit scores.

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Benefits

Generous equity package

Full healthcare benefits

Unlimited PTO

Technology expense reimbursement

Work from anywhere

INACTIVE