Full-Time
Global Sanctions Manager
Confirmed live in the last 24 hours
Sendwave
201-500 employees
Fee-free international money transfer service
Expert
Remote in USA
Candidates must be based in the USA.
You match the following Sendwave's candidate preferences
Employers are more likely to interview you if you match these preferences:
- Bachelor's degree in finance, accounting, law, or a related field; advanced degree or relevant professional certification (e.g., CAMS, CGSS) is preferred.
- Minimum of 10 years of experience in sanctions compliance within a regulated money services business, with at least 3 years in a supervisory or management role.
- In-depth knowledge of relevant laws, regulations, and industry best practices related to sanctions compliance, including familiarity with the sanctions regimes of the UK, EU, Japan, New Zealand, Australia, US, and Canada.
- Proven track record of developing and managing effective sanctions compliance programs, including policy development and enforcement.
- Strong analytical, problem-solving, and decision-making skills, with the ability to handle complex sanctions-related issues.
- Excellent communication and interpersonal skills, with the ability to effectively collaborate with internal teams and external stakeholders.
- Demonstrated ability to work independently and maintain a high level of professional integrity.
- Maintain a comprehensive global sanctions compliance program, ensuring adherence to relevant laws, regulations, and industry best practices across all Zepz Group entities, including those in the UK, Europe, Japan, New Zealand, Australia, the US, and Canada.
- Set the group’s global sanctions policy and establish risk-based procedures to prevent, detect, and report potential sanctions violations.
- Collaborate with internal departments, such as legal, finance, and operations, to ensure effective communication and coordination on sanctions compliance matters across all relevant jurisdictions.
- Provide guidance and support to the group in identifying, assessing, and managing sanctions-related risks, and assist in implementing appropriate controls.
- Develop and deliver targeted training programs for employees to enhance their understanding of sanctions compliance requirements and expectations, considering the specific regulatory landscapes of each jurisdiction.
- Keep up-to-date with relevant laws, regulations, and industry best practices across all applicable jurisdictions. Ensure the sanctions compliance program is properly informed of any changes that may impact its effectiveness.
- Prepare and submit regular reports to senior management and regulators on the effectiveness of the sanctions compliance program, including any identified issues and remediation efforts, tailored as needed for different regulatory audiences.
- Oversee a team of sanctions analysts responsible for performing second-level reviews of possible sanctions hits, providing guidance, support, and direction as needed.
- Advanced degree or relevant professional certification (e.g., CAMS, CGSS) is preferred.
Sendwave specializes in international money transfers, making it easy for individuals to send money abroad quickly and without fees. The service is particularly popular among immigrants and expatriates who send remittances to family and friends in countries like Africa, the Philippines, and Haiti. Users can link their debit cards and verify their identities through the Sendwave app, allowing them to start sending money within minutes. Unlike many competitors that charge high fees, Sendwave generates revenue through the exchange rate margin, making it a cost-effective option for users. The company is licensed to operate in the US, Canada, the UK, and the EU, and it has built a reputation for reliability with over one million users worldwide. Additionally, Sendwave offers 24/7 customer support through its app, ensuring users have access to assistance whenever needed.
Company Size
201-500
Company Stage
Acquired
Total Funding
$403.7M
Headquarters
Washington, District of Columbia
Founded
2017
Simplify's Take
What believers are saying
- Increased digital banking adoption boosts demand for Sendwave's services in emerging markets.
- Partnerships with traditional banks can expand Sendwave's service offerings and customer base.
- Focus on financial inclusion creates favorable regulatory environments for Sendwave's expansion.
What critics are saying
- CFPB scrutiny on remittance providers could impact Sendwave's operations and reputation.
- Layoffs at parent company Zepz indicate potential financial instability affecting Sendwave.
- Competitive remittance market risks customer churn due to price-conscious consumers.
What makes Sendwave unique
- Sendwave offers fee-free international money transfers, unlike many competitors charging high fees.
- The company provides 24/7 customer support, enhancing user trust and satisfaction.
- Sendwave Pay offers interest-bearing accounts, a unique feature among remittance providers.
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Benefits
Unlimited Paid Time Off
Private Medical Cover
Retirement
Life Assurance
Parental Leave
Remote Work Options
Company News
The Consumer Financial Protection Bureau (CFPB) has issued a circular warning remittance transfer providers about making false claims regarding the cost and speed of international money transfers. False advertising of that sort can violate federal law, the agency said in a Wednesday (March 27) press release. This caution applies to both traditional providers of international money transfers and to digital wallets that offer that capability. “Consumers should not be paying junk fees on international money transfers that are advertised as free,” CFPB Director Rohit Chopra said in the release. “The CFPB will continue to work with law enforcement to ensure companies don’t illegally burden families with fees or inflated exchange rates using false or misleading claims.”
Sigue Corp. has stopped its money transmission activities after being ordered to do so by financial regulatory agencies from 39 states, Puerto Rico and the District of Columbia.“We are no longer processing new money transfers, money orders or bill payment transactions through agents, branches or our SiguePay mobile application, and we are making every effort to refund those transactions that remain outstanding,” a notice on the company’s website said Friday (March 22).The financial regulatory agencies announced their consent order in a Friday press release, saying that Sigue failed to satisfy outstanding money transmission liabilities, violating state law, and “can no longer responsibly serve customers due to its declining financial position.”“This coordinated state action will help customers get resolution more quickly and prevent Sigue from serving any new customers regardless of where they live,” Lisa Kruse, commissioner at the North Dakota Department of Financial Institutions and chair of the Conference of State Bank Supervisors (CSBS), said in the release.Over the past several months, Sigue experienced significant financial deterioration, failed to complete multiple money orders and transmissions, and failed to maintain adequate net worth and permissible investments to cover its outstanding liabilities, according to the release.State regulators identified the company’s troubled financial position and coordinated the consent order with the help of the CSBS and the Money Transmitter Regulators Association (MTRA), the release said.The consent order requires Sigue to preserve all books and records, and provide access to them, and states will use the company’s signed declarations to help impacted customers with the claims process, per the release.“This consent order means states with one impacted customer can provide the same remedy as states with thousands,” Karyn Tierney, director of consumer services at the Arkansas Securities Department and vice president of MTRA said in the release. “It also preserves states’ ability to take additional actions on customers’ behalf as investigations continue at the state and federal level.”In another regulatory action in this space, the Consumer Financial Protection Bureau (CFPB) said in October that took action against Chime Inc., the operator of the Sendwave mobile app, for deceiving customers about the speed and cost of remittance transfers.Chime Inc. is not connected to the California-based FinTech Chime Financial
British money transfer firm Zepz has reportedly made another round of job cuts. The company, which owns remittance platforms WorldRemit and Sendwave, has laid off 30 workers, according to a CNBC report Thursday (Nov. 30). “Zepz has entered a redundancy consultation which could affect less than 2% of its global headcount,” a company spokesperson said in an exclusive statement to the network
The Consumer Financial Protection Bureau (CFPB) has taken action against Chime, the operator of the Sendwave mobile app, for deceiving consumers about the speed and cost of remittance transfers. Chime has also been found guilty of illegally forcing consumers to waive their legal rights, failing to provide required disclosures and receipts, and neglecting to properly investigate consumer disputes and errors, according to a CFPB press release Tuesday (Oct. 17). As a result, the CFPB has ordered Chime to refund affected consumers nearly $1.5 million in fees and pay a $1.5 million penalty into the CFPB’s victims relief fund
Sendwave, a digital remittance company, has launched a new banking product that allows users to earn interest and pay reduced fees on international remittances.