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Full-Time

Financial Crimes

Security Specialist

Updated on 9/13/2024

NorthOne

NorthOne

51-200 employees

Fintech platform for small business banking

Data & Analytics
Consulting
Fintech
Financial Services

Compensation Overview

$70kAnnually

Junior, Mid

Remote in USA

Category
Risk Management
Finance & Banking
Required Skills
Marketing
Requirements
  • You have experience in AML & fraud investigations and analysis.
  • You welcome and give candid feedback, identifying ways to make yourself and the team better.
  • You are familiar with technical resources to assist in reviews and have the ability to work with Compliance, Dev, and IT. As well as, CX and marketing partners.
  • You are an active learner and stay up to date with new ways of combating financial crimes and security risk, as methods evolve.
  • You understand fraud risk typologies associated with neo-banks like North One.
  • You are proactive when it comes to program and process improvements.
  • You have a keen attention to detail, and enjoy digging into the weeds to find the source of a problem.
Responsibilities
  • Analyzing accounts, account usage and managing day-to-day operational processes across various Financial Crimes workflows (encompassing fraud, AML, and account security). You’ll be reviewing up to 100 alerts per day that will require a strong understanding of money movement, regulatory requirements for different money movement rails, current AML/fraud trends, and the ability to solve complex problems.
  • Requesting and reviewing documentation and communicating with customers in a professional and risk-mitigating manner.
  • Work to help resolve customer escalations that require a financial crimes review, while providing insight and learning opportunities for the CX team.
  • Working closely with the Compliance, Dev and IT teams on InfoSec Policy execution, remediation of findings, improvements, and feedback.
  • Acting as an owner of continuous process improvements across the financial crimes team - we’re always looking to make things better, and we’re scaling fast!
  • Providing responses to Law Enforcement information requests in a timely manner.
  • Cross training on Trust & Safety reviews and assisting in other areas as necessary.
  • Be a risk identifier, using your on-the-ground knowledge to identify and highlight emerging areas of risk; as well as helping to propose solutions to resolve the identified vulnerability.

NorthOne provides banking services tailored for small businesses and freelancers through a user-friendly platform. The service simplifies financial management by offering features such as budgeting tools, invoice payments, and instant access to deposits. Users can manage their finances with dedicated physical and virtual debit cards, make standard and same-day ACH payments, and deposit checks via the NorthOne app. Unlike traditional banks, NorthOne operates on a subscription model, charging a flat fee of $10 per month, which ensures transparency in costs. By partnering with The Bancorp Bank, N.A., a member of the FDIC, NorthOne delivers reliable banking services while focusing on the unique needs of small business owners and freelancers.

Company Stage

Series B

Total Funding

$90.1M

Headquarters

New York City, New York

Founded

2016

Growth & Insights
Headcount

6 month growth

↓ -1%

1 year growth

↓ -1%

2 year growth

↓ -31%
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Simplify's Take

What believers are saying

  • The recent $67 million Series B funding round positions NorthOne for significant growth and expansion in the small business sector.
  • Partnerships with industry leaders like Plaid and The Bancorp Bank, N.A. enhance NorthOne's service offerings and reliability.
  • The introduction of real-time payments can significantly improve cash flow management for small businesses, addressing a critical pain point.

What critics are saying

  • The competitive fintech landscape requires NorthOne to continuously innovate to maintain its market position.
  • Reliance on partnerships, such as with The Bancorp Bank, N.A., means that any issues with these partners could directly impact NorthOne's service delivery.

What makes NorthOne unique

  • NorthOne's focus on small businesses and freelancers sets it apart from broader fintech solutions that target larger enterprises or individual consumers.
  • The integration with Plaid enhances cash flow controls, providing a seamless and transparent experience for users, which is a significant improvement over traditional banking services.
  • Offering real-time payments through The Clearing House's network gives NorthOne a competitive edge in providing instant liquidity to small businesses.