Cross River
Analyst, AML/CFT & OFAC Compliance, Customer Due Diligence
Cross River, Fort Lee, New Jersey, us, 07024
Overview
Analyst, AML/CFT & OFAC Compliance, Customer Due Diligence
at
Cross River
Cross River is a highly profitable, fast-growing financial technology company powering the future of financial services. Our suite of embedded payments, cards, and lending products serves millions of businesses and consumers worldwide. We are seeking a detail-oriented analyst to evaluate risk for new partnerships in the MPL, BaaS/Cards, and Payments space, ensuring regulatory compliance and effective risk management.
Responsibilities
Due Diligence : Conduct comprehensive due diligence to assess risks for new partnerships in the MPL, BaaS/Cards, and Payments space with a focus on consumer compliance, transaction monitoring, and fraud management.
Review partners' due diligence materials to ensure adherence to consumer compliance and AML/CFT regulatory standards, along with Cross River Bank specific CMS, Fraud, and TM program requirements. Review areas include governance, policy and procedure, risk assessments, disclosures, notices, marketing, monitoring, training, complaints, fraud controls, transaction monitoring, incident response, and reporting.
Evaluate training materials, independent audits, risk assessments, and onboarding journeys to identify potential risks.
Review and provide guidance on high-risk features within client structures, including proposed flow of funds, expected activity, regulatory structure, and licensing requirements.
Conduct background screening on all entities and controlling parties within the company structure.
Analyze general company background information to ensure alignment with bank risk tolerance.
Compliance Oversight : Ensure onboarding activities comply with internal policies, regulatory requirements, and industry best practices.
Verify that partners' policies and procedures adhere to the five pillars of a BSA/AML program and expectations of CMS and consumer compliance programs.
Stay current on regulatory developments affecting financial institutions and fintech partnerships.
Documentation & Reporting : Maintain comprehensive and accurate documentation of all assessments and outcomes related to due diligence and onboarding. Prepare detailed reports summarizing findings and recommendations for management review. Ensure records meet regulatory requirements and internal standards.
Risk Management : Identify and escalate risks to management in a timely manner. Propose risk mitigation strategies and contribute to ongoing monitoring frameworks for approved partnerships.
Stakeholder Engagement : Lead partner meetings professionally, communicate effectively with external partners and internal stakeholders, and collaborate with Business Development, Partnership Management, and other areas of the control framework. Build and maintain relationships with Risk, Compliance, BSA/AML, and Operations teams.
Cross-Functional Support : Support additional due diligence activities as needed. Assist with Fraud, Transaction Monitoring, and Consumer Compliance initiatives when required. Contribute to continuous improvement of the onboarding process.
Qualifications
Bachelor's degree in finance, business, compliance, or related field preferred.
Experience in financial services compliance, particularly in consumer protection, BSA/AML and KYC/CDD processes.
Knowledge of regulatory requirements affecting banking partnerships and fintech relationships.
Understanding of MPL, BaaS/Cards, and Payments business models and related risks.
Strong analytical and critical thinking skills.
Excellent documentation and report writing abilities.
Skills & Attributes : Meticulous attention to detail, strong verbal and written communication, ability to manage multiple due diligence projects, professional demeanor with stakeholders, critical thinking and problem-solving, ability to apply regulatory guidance to business scenarios, and the capacity to work independently while contributing to team objectives.
Salary Range:
$80,000.00 - $90,000.00
Cross River is an Equal Opportunity Employer. Cross River does not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, disability, national origin, veteran status, or any other basis covered by law. All employment is decided on qualifications, merit, and business need.
By submitting your application, you authorize Cross River to email, call, or text you using the contact details provided. We will only contact you with job-related information.
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at
Cross River
Cross River is a highly profitable, fast-growing financial technology company powering the future of financial services. Our suite of embedded payments, cards, and lending products serves millions of businesses and consumers worldwide. We are seeking a detail-oriented analyst to evaluate risk for new partnerships in the MPL, BaaS/Cards, and Payments space, ensuring regulatory compliance and effective risk management.
Responsibilities
Due Diligence : Conduct comprehensive due diligence to assess risks for new partnerships in the MPL, BaaS/Cards, and Payments space with a focus on consumer compliance, transaction monitoring, and fraud management.
Review partners' due diligence materials to ensure adherence to consumer compliance and AML/CFT regulatory standards, along with Cross River Bank specific CMS, Fraud, and TM program requirements. Review areas include governance, policy and procedure, risk assessments, disclosures, notices, marketing, monitoring, training, complaints, fraud controls, transaction monitoring, incident response, and reporting.
Evaluate training materials, independent audits, risk assessments, and onboarding journeys to identify potential risks.
Review and provide guidance on high-risk features within client structures, including proposed flow of funds, expected activity, regulatory structure, and licensing requirements.
Conduct background screening on all entities and controlling parties within the company structure.
Analyze general company background information to ensure alignment with bank risk tolerance.
Compliance Oversight : Ensure onboarding activities comply with internal policies, regulatory requirements, and industry best practices.
Verify that partners' policies and procedures adhere to the five pillars of a BSA/AML program and expectations of CMS and consumer compliance programs.
Stay current on regulatory developments affecting financial institutions and fintech partnerships.
Documentation & Reporting : Maintain comprehensive and accurate documentation of all assessments and outcomes related to due diligence and onboarding. Prepare detailed reports summarizing findings and recommendations for management review. Ensure records meet regulatory requirements and internal standards.
Risk Management : Identify and escalate risks to management in a timely manner. Propose risk mitigation strategies and contribute to ongoing monitoring frameworks for approved partnerships.
Stakeholder Engagement : Lead partner meetings professionally, communicate effectively with external partners and internal stakeholders, and collaborate with Business Development, Partnership Management, and other areas of the control framework. Build and maintain relationships with Risk, Compliance, BSA/AML, and Operations teams.
Cross-Functional Support : Support additional due diligence activities as needed. Assist with Fraud, Transaction Monitoring, and Consumer Compliance initiatives when required. Contribute to continuous improvement of the onboarding process.
Qualifications
Bachelor's degree in finance, business, compliance, or related field preferred.
Experience in financial services compliance, particularly in consumer protection, BSA/AML and KYC/CDD processes.
Knowledge of regulatory requirements affecting banking partnerships and fintech relationships.
Understanding of MPL, BaaS/Cards, and Payments business models and related risks.
Strong analytical and critical thinking skills.
Excellent documentation and report writing abilities.
Skills & Attributes : Meticulous attention to detail, strong verbal and written communication, ability to manage multiple due diligence projects, professional demeanor with stakeholders, critical thinking and problem-solving, ability to apply regulatory guidance to business scenarios, and the capacity to work independently while contributing to team objectives.
Salary Range:
$80,000.00 - $90,000.00
Cross River is an Equal Opportunity Employer. Cross River does not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, disability, national origin, veteran status, or any other basis covered by law. All employment is decided on qualifications, merit, and business need.
By submitting your application, you authorize Cross River to email, call, or text you using the contact details provided. We will only contact you with job-related information.
#J-18808-Ljbffr