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Full-Time

Compliance & Risk Specialist

Updated on 10/7/2024

Checkbook

Checkbook

11-50 employees

Supports ACH, digital checks, virtual cards

Fintech
Financial Services

Entry, Junior, Mid

San Mateo, CA, USA

Category
Risk & Compliance
Legal & Compliance
Required Skills
Management
Requirements
  • Familiarity with Anti Money Laundering/Bank Secrecy Act
  • If you have some working experience with MTL (Money Transfer License / Money Transmitter License) that would be great
Responsibilities
  • Work alongside CEO and Finance Controller to augment compliance with the regulatory framework and any licensure if needed
  • Participate and/or lead leadership discussions about areas of focus, with a special eye to risk and compliance
  • Act as point of contact for area of responsibility for other risk areas across the company
  • Keep abreast of upcoming, new and revised rules, regulations and directives applicable to the business, and facilitate changes as required
  • Provide regular reporting on risk assessment developments, engagement planning and status, engagement outcomes, tracking of open issues, themes
  • Train staff and partners on skills that support key capabilities such as risk assessment, substantive and control testing, control design best practices, professional/technical writing, influencing
  • Work with business unit leaders to create and implement mitigation plans to manage identified risks, facilitating collaboration among unit leaders to mitigate risks which originate in one department but impact multiple units
  • Expand the concepts of risk management and IQP to all areas of the company and phases of product lifecycle
  • Ensure consistent application of the integrated Risk Management framework across therapeutic areas
  • Validate policies and procedures for payment services products
  • Work closely with the product teams to build a product that delivers a great user experience whilst also ensuring we meet regulatory requirements and deliver good outcomes for customers/markets
  • Ensure risk management processes for payment services products are robust and occur in a timely manner Identifying regulatory challenges and changes relating to payment services products to ensure these are addressed/implemented in good time
  • Work with key internal and external stakeholders as required
  • Coordinate regulatory exams and internal business unit audits
  • Problem solving mindset with a focus on unlocking growth while balancing risk and compliance

Checkbook's focus on secure electronic payment solutions, including ACH, real-time payments, digital checks, and virtual cards, positions it at the forefront of financial technology. This environment provides a perfect platform for employees keen on contributing to cutting-edge payment innovations while operating in an ecosystem that simplifies and secures large-scale financial transactions. Furthermore, its integration capabilities with accounting software enhance operational efficiency, making it an ideal workplace for those looking to advance in a tech-driven and agile financial sector.

Company Stage

Seed

Total Funding

$14.3M

Headquarters

San Mateo, California

Founded

2015

Growth & Insights
Headcount

6 month growth

9%

1 year growth

17%

2 year growth

38%
Simplify Jobs

Simplify's Take

What believers are saying

  • The partnership with Visa to implement Visa Direct significantly enhances Checkbook's capability to offer real-time payments, making it a competitive player in the instant payments market.
  • The recent $10M Series A funding led by MassMutual Ventures provides Checkbook with the financial resources to expand its operations and innovate further.
  • Collaborations with companies like Line and Eisen demonstrate Checkbook's ability to scale rapidly and adapt to various market needs, from financial institutions to underbanked communities.

What critics are saying

  • The highly competitive fintech landscape means Checkbook must continuously innovate to maintain its market position against larger, more established players.
  • Reliance on strategic partnerships, such as those with Visa and Eisen, could pose risks if these relationships were to deteriorate or end.

What makes Checkbook unique

  • Checkbook's all-in-one payments platform offers a single API for various payment methods, simplifying integration for businesses compared to competitors with fragmented solutions.
  • Strategic partnerships with industry leaders like Visa and Eisen enhance Checkbook's credibility and expand its service offerings, setting it apart from smaller fintech firms.
  • Checkbook's focus on compliance and regulatory adherence, especially in the context of account closures and fund disbursements, provides a unique value proposition in the financial technology space.