Full-Time

Financial Crimes

Security Specialist

Posted on 9/5/2024

NorthOne

NorthOne

51-200 employees

Fintech platform for small business banking

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 platform simplifies financial management by offering features such as budgeting tools, invoice payments, instant access to deposits, and check deposits via its app. Users can also obtain physical and virtual debit cards and make standard or same-day ACH payments. 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., an FDIC member, NorthOne can offer reliable banking services while focusing on the unique needs of its clients. The goal of NorthOne is to make financial management straightforward and accessible for small business owners and freelancers.

Company Stage

Series B

Total Funding

$88M

Headquarters

New York City, New York

Founded

2016

Growth & Insights
Headcount

6 month growth

1%

1 year growth

3%

2 year growth

0%
Simplify Jobs

Simplify's Take

What believers are saying

  • $67 million Series B funding supports expansion of business banking and financial management platform.
  • Partnership with Nimblechapps expands industry-specific tools, attracting niche markets like construction.
  • Integration with Firstbase enhances service offerings for small and medium businesses, boosting acquisition.

What critics are saying

  • Increased competition from fintech companies like Chime and Novo threatens market share.
  • Regulatory scrutiny on fintech companies could impact NorthOne's operations and compliance costs.
  • Reliance on The Bancorp Bank, N.A. poses risk if partnership faces disruptions or changes.

What makes NorthOne unique

  • NorthOne offers a subscription-based model at $10/month, providing cost predictability for users.
  • Integration with Plaid enhances cash flow controls, improving financial management for small businesses.
  • Real-Time Payments network membership allows instant payment reception, aiding cash flow management.

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Benefits

Health Insurance

Dental Insurance

Remote Work Options

Professional Development Budget

Unlimited Paid Time Off

INACTIVE