Full-Time

Compliance & Licensing Analyst

Posted on 11/12/2024

Remitly

Remitly

1,001-5,000 employees

International money transfer for immigrants

Fintech
Financial Services

Compensation Overview

$84k - $95kAnnually

+ Equity

Mid

Seattle, WA, USA

Based in Seattle.

Category
Risk Management
Finance & Banking
Required Skills
Excel/Numbers/Sheets
Requirements
  • Minimum of 3 years of experience in a Compliance or Licensing role within a financial services business, preferably in a Fintech or environment.
  • Understanding of US non-bank regulatory payments framework, state licensing requirements, and NMLS licensing system.
  • Understanding of anti-money laundering regulations within the banking/financial services industry.
  • Understanding of basic accounting principles.
  • Competency in Excel or Google Sheets.
  • Four-year degree and Compliance professional certification preferred.
Responsibilities
  • Maintain a database of licensing requirements, including periodic reports and renewal applications, for the Remitly Group of international money transmitters.
  • Coordinate, prepare and submit money transmission license renewals, periodic reports, and ad hoc inquiries from regulators.
  • Work across teams by being a source of information about relevant Compliance procedures, regulatory guidelines and licensing requirements.
  • Research regulatory requirements for new licensing obligations as changes to state laws or Remitly's business model occur.
  • Be a liaison with state banking agencies for licensing matters and support third-party audits.
  • Provide periodic internal reporting on licensing tasks and emerging risks.
  • Assist Compliance Officers with projects on an ad-hoc basis.

Remitly focuses on international money transfers, helping immigrants send money to their families quickly and securely at lower costs than traditional banks. The company charges transaction fees and earns from the exchange rate margin, offering options like bank deposits, cash pickups, and mobile wallet transfers. What makes Remitly different is its commitment to the unique needs of immigrants, along with its engagement in social responsibility through educational initiatives. The goal is to provide fast, secure transactions while positively impacting the communities it serves.

Company Stage

IPO

Total Funding

$423.9M

Headquarters

Seattle, Washington

Founded

2011

Growth & Insights
Headcount

6 month growth

3%

1 year growth

13%

2 year growth

23%
Simplify Jobs

Simplify's Take

What believers are saying

  • Expansion into Vancouver, B.C., taps into the Canadian market for growth.
  • Partnership with Major League Cricket enhances brand visibility and attracts sports enthusiasts.
  • Collaboration with Visa streamlines cross-border transactions, boosting customer satisfaction.

What critics are saying

  • Swift's integration into traditional banks poses a competitive threat to Remitly.
  • Visa and CIBC's digital wallet collaboration may attract Remitly's customer base.
  • Investigation by Schall Law Firm could impact investor confidence and reputation.

What makes Remitly unique

  • Remitly focuses on immigrants, offering competitive rates and fast, secure transactions.
  • The company leverages technology for a seamless user experience via its website and mobile app.
  • Remitly engages with immigrant communities, providing finance tips and cultural guides.

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Benefits

Continuing Education or Travel Stipend

Office Culture

Flexible PTO, Schedules and Leaves

DEI Learning Opportunities

Community Engagement

Inclusive Benefits

INACTIVE