Head of AML/CFT and OFAC Compliance

Who We Are

Cross River is a highly profitable, fast-growing financial technology company powering the future of financial services. Our comprehensive suite of innovative and scalable embedded payments, cards, and lending products deliver financial services for millions of businesses and consumers around the globe. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion. 

We are on a mission to build the infrastructure that propels access, inclusion, and the democratization of financial services. While our company has tripled in size over the last three years, our strong sense of purpose led Cross River to be named to American Banker’s list of Best Places to Work in Fintech for the last 6 years. The reason for this success is simple – our nimble and collaborative family culture lives in every member of our growing team. Together we are at the forefront of technology and innovation, and we invite passionate, collaborative, and motivated high performers to join our expanding team.

What We’re Looking For

The Head of AML/CFT and OFAC Compliance will be responsible for leading the Company’s Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) compliance program. This role will report to the Chief Compliance Officer and will be responsible for the successful execution and continued development of the program. 

Responsibilities:

• Build and manage teams responsible for developing and maintaining overall AML/CFT program, including policies and procedures, and requirements to ensure they remain up to date and reflective of current legal, regulatory and compliance obligations and in alignment with the Bank’s activities of numerous Fintech partners and clients.
• Provide thought leadership and advancement of the AML/CFT/OFAC and fraud program by leveraging technology and enhancing the Bank’s capabilities to support growth.
• Monitor compliance with requirements across core bank and fintech partners and ensures timely reporting and escalation of non-compliance in accordance with procedures.
• Develop, implement and maintain risk assessment and control framework through strong compliance policies, standards and procedures related to AML/CFT risks.
• Conduct customer due diligence (CDD), enhanced due diligence (EDD), and third-party due diligence as needed.
• Periodically review the Company’s monitoring process to ensure its effectiveness.
• Responsible for writing, managing and ensuring timely and accurate filing of required reports to FinCEN such as SARs and CTRs.
• Conduct annual AML/CFT and OFAC risk assessments and updates to the Company`s compliance program.
• Preparing management and board reporting that includes insights and analysis based on industry-leading knowledge of AML/CFT topics.
• Support internal audit and regulatory agency reviews of the program.
• Provide oversight and input for AML/CFT Compliance training to employees.

Qualifications:

• 15+ years of financial institution industry experience, or other regulated industry with financial crimes, AML/CFT, fraud, and payments experience
• Experience with payments activities and fintech payment operations
• Experience managing people and teams and program budgets
• Technical proficiency and system knowledge in AML/CFT platforms
• Bachelor’s Degree required; JD preferred
• CAMS certification preferred

Skills and Abilities:

• Ability to operate in a complex organization
• Excellent writing skills
• Possession of excellent Microsoft Office skills, especially Excel
• Broad financial services knowledge and knowledge of industry best practices for continuously improving a proactive AML/CFT program
• Demonstrated management skills required
• Strong collaboration and leadership abilities to strategically manage to high performance outcomes
• Excellent interpersonal and teamwork skills
• Demonstrated critical thinking and problem-solving skills

#LI-JJ1 #LI-Hybrid #LI-Onsite

Salary Range: $300,000.00 - $330,000.00