AML Transaction Monitoring Analyst, Wave
Contract
Financial services for small business owners
Job no longer available
Financial services for small business owners
201-500 employees
Job no longer available
201-500 employees
Company mission
To create a future where small business owners can manage their finances fearlessly.
Role
Who you are
- 2-4 years of experience in a compliance role at either a banking or fintech institution
- CAMS or comparable advanced BSA/AML & OFAC training and/or certification required
- Are a highly motivated individual with a strong understanding of the US regulatory landscape, AML/CTF red flag identification, and suspicious activity trends
- Proven fraud experience, preferably having worked in monitoring accounts and transactions to identify fraudulent behaviour in online businesses
- A thorough understanding of Enhanced Due Diligence for high risk customers
- Experience investigating complex cases of potentially suspicious activity and strong ability to prepare Suspicious Activity Reports (SARS) and No SARS
- A thorough understanding of the review and remediation process of potential OFAC and PEP screening matches
- Strong communication skills and passion for customer experience
- Thrive in a fast paced environment, and have a sense of tact and empathy under pressure
- A sixth sense for identifying problems while implementing and communicating solutions
What the job involves
- The AML Compliance Analyst will have an important role at Wave. You will be responsible for ensuring the onboarding of customers to our new US debit card product, Wave Money, meets all regulatory and risk requirements
- This role requires strength in both fraud and compliance to protect Wave and our customers as we grow an exciting new product
- Conduct customer due diligence (CDD) and enhanced due diligence (EDD) at time of onboarding as well as ongoing monitoring for customers. Experience with legal entity CDD and EDD preferred
- Protect Wave and our customers by ensuring all activity adheres to the PATRIOT Act, OFAC compliance, Bank Secrecy Act and internal Anti Money Laundering programs to ensure compliance with applicable internal policies, procedures and external regulations
- Complete quality assurance review of completed suspicious activity, high risk customer, and fraud related alerts and investigations
- Identify complexity of ultimate beneficial ownership (UBO) and verification with account relationships
- Perform complex fraud investigations using a wide variety of data in order to accept, reject or refer transactions and accounts for further investigation. You're a self-proclaimed (risk) detective!
- This is a new, fast growing product so you’ll have the ability to contribute to shaping our policies, procedures and internal tooling which we build in-house
Our take
Over 90% of all businesses in North America are zero to five employee companies. These businesses are organising their finances either by paying an expensive accountant, or relying on traditional spreadsheets.
In response, Wave is democratising access to financial services software. While it is not the first to do this, it has taken the flourishing approach of giving away the invoicing and accounting software 100% for free.
The company instead makes money by embedding financial services products within the software. It's these payments and other revenue streams that the startup is now looking to expand to secure more revenue to scale.
While the company has had success so far with its tools, it will need to build a whole suite of products and services in order to compete with the accounting software giants like Xero.
Steph
Company Specialist at Welcome to the Jungle
Insights
-7% employee growth in 12 months
Company
Funding (last 2 of 11 rounds)
Jun 2018
$3.3m
EARLY VC
May 2017
$32m
SERIES D
Total funding: $81.2m
Company benefits
- Work From Where You Work Best: We will always have a welcoming, energizing, and world-class office (in Toronto) with a space for you. Or, if you’re more comfortable working from home, the choice is yours
- We Care About Future You: You will stretch yourself and you will grow at Wave. You will also be supported on this journey with diverse learning experiences, educational allowances, mentorship, and so much more
- We Support the Full You: We make a serious investment in your health & wellness. When we think about benefits we think about body, mind, & soul and we take this stuff very seriously
- We Take Care of the Fundamentals: Fair compensation, all the office perks you’d want, and the various goodies you’d expect from a growing tech company. This is the obvious stuff, but we don’t want you to think we forgot!
Company HQ
Leslieville, Toronto, ON
Leadership
Zahir Khoja
(CEO)Worked at Mastercard as EVP (Global Merchant Solutions and Partnerships) and held several Senior VP positions. Former Vintro Board Member and General Manager (North America) at Afterpay.
Salary benchmarks
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