Regulatory Reporting Manager, Flywire
$91-113k
+ Restricted Stock Units & Employee Stock Purchase Plan
Global payments processing
Job no longer available
Global payments processing
1001+ employees
Job no longer available
$91-113k
+ Restricted Stock Units & Employee Stock Purchase Plan
1001+ employees
Company mission
To improve the payment experience for everyone.
Role
Who you are
- Prior experience working in the financial services industry, at a payment company or at another state licensee, such as a lender
- Thorough understanding of regulatory requirements related to money transmission, including state-by-state reporting requirements
- Prior management-level experience preferred
- Strong communication skills (written and oral); with proven ability to communicate effectively with state regulators
- Excellent analytical and problem-solving skills with a keen attention to detail
- Results orientated, with the ability to handle multiple projects simultaneously
- Solid understanding of financial systems and MTL reporting, including report development and enhancement
- Bachelor’s degree or directly relevant experience
What the job involves
- We, at Flywire, are seeking a Manager within our Finance team to lead our MTL reporting process. This individual will play a critical role in managing MTL reporting for the company, ensuring compliance with the financial requirements of money transmitter licenses, to include:
- Prepare and present accurate financial statements, reports, and analysis in support of MTL reporting requirements
- Ensure timely and accurate reporting to state regulators
- Conduct financial analysis to support the regulated business and help guide its decision-making, including profitability analysis, cost control, and performance metrics
- Ensure compliance with the financial requirements of state and federal money transmitter licenses, including net worth, bonding, and liquidity requirements
- Coordinate with compliance and legal teams to maintain up-to-date knowledge of regulatory changes and ensure ongoing compliance with money transmission regulations
- Prepare and submit required financial reports to regulatory bodies, including the Nationwide Multistate Licensing System (NMLS) and individual state regulators
- Work cross-functionally to ensure the financial health of the licensee and compliance with money transmitter license requirements
- Develop financial forecasts and budgets in support of MTL reporting requirements
- Provide inputs into the overall company budgeting and forecasting process for MTL activities
- Collaborate with the treasury team on liquidity requirements and allowable investments for MTL entities, including forecasting cash needs and optimizing cash management strategies
- Ensure funds are appropriately allocated to meet operational needs and money transmission regulatory requirements
- Coordinate with state regulators on internal and external audits, ensuring all financial and regulatory audits are completed on time and without issue
- Implement and maintain effective internal controls to ensure the integrity of MTL reporting
- Identify and mitigate financial risks, including those related to money transmission, fraud, and compliance
Application process
- We are excited to get to know you! Throughout our process you can expect to meet with different FlyMates including the Hiring Manager, Peers on the team, the VP of the department, and a skills assessment. Your Talent Acquisition Partner will walk you through the steps and be your “go-to” person for any questions
Our take
Flywire is a digital platform that simplifies the paying experience for international transactions. Flywire leverages its vertical-specific software and payments technology to deeply embed within client's existing accounts-receivable workflows.
Flywire was first set up to help international students pay their tuition for American colleges, but has since grown into a global payments enablement and software company. It has processed billions of dollars in payments for clients across the world and secured approval for its major payment institution license, enabling it to operate domestic money transfer and cross-border money transfer services.
Flywire serves clients across education, healthcare, travel, and B2B, including several Ivy League schools, and top US hospital systems. The company appears to be focussed on growth, including by strategic acquisitions and entry into new markets, recently in the Asia Pacific and Australia, as well as further developing its channel partners ecosystem.
Steph
Company Specialist at Welcome to the Jungle
Insights
12% employee growth in 12 months
Company
Funding (last 2 of 8 rounds)
Mar 2021
$60m
SERIES F
Feb 2020
$120m
SERIES E
Total funding: $323.2m
Company HQ
Downtown Crossing, Boston, MA
Leadership
Mike Massaro
(CEO)Mike joined Flywire as a VP of Business Development in 2012 before becoming CEO in 2013. Prior to this, he spent 6 years at Carrier IQ as a VP of Strategic Accounts & Corporate Development and Advisor.
Salary benchmarks
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