Director of Business Risk Controls & Execution, Cross River
$160-200k
API-based financial solutions for businesses
Job no longer available
API-based financial solutions for businesses
1001+ employees
Job no longer available
$160-200k
1001+ employees
Company mission
To enable clients to deliver responsible financial solutions that empower consumers anytime, everywhere.
Role
Who you are
- BA/BS Degree
- Minimum 5-10 years relevant experience in the consumer, commercial lending compliance with experience in BaaS, Credit Card and/or BIN Sponsorship experience and Issuing, Acquiring payments
- Extensive knowledge of the laws, regulations, and subjects applicable to consumer commercial products, BaaS, debit and prepaid cards,
- Familiarity with Fintech banking and partnership structure
- Experience completing and/or review of Risk and Control Assessments
- Ability to research, analyze laws, and regulations formulating position to management in a meaningful manner
- Experience with testing transactions, reviewing customer facing disclosures, and website reviews to ensure compliance with applicable regulatory and network requirements
- Operate with integrity, ability to work independently, and strong problem solving skills
- Exceptional collaboration skills and a desire to work as part of a high performing and demanding team
- Strong verbal and written communication skills with comfort interacting directly with senior management of both the Bank, prospective Fintech partners
- Experience evaluating Compliance Management Systems in the unsecured consumer/commercial lending industry, including marketplace lending and credit cards, payments
- Experience evaluating Compliance Management Systems in the consumer deposit & debit product space, including Banking as a Service (BaaS)
- Experience with Network rules across business lines (BaaS, Cards, Payments)
- CRCM preferred but not required
What the job involves
- The primary responsibilities for the role will include performing initial risk and compliance due diligence review on new Fintech Bank partners and products
- In addition, this role will assist in the preparation of the due diligence memorandum detailing the scope of the review, identifying, analyzing risks, assessment of the partner’s Compliance Management System and Risk Management Systems
- Assist with initial compliance reviews on partners/business lines at appropriate intervals to evaluate compliance with applicable laws and regulations and adequacy of internal controls designed to prevent and detect violations of laws and regulations
- Perform and/or review consumer, commercial compliance Risk and Control Assessments
- Update and, when necessary, draft compliance related policies and procedures related to the Bank’s partner oversight operations
- Utilize the Bank’s system of record for tracking and documenting the review and assessment activities performed as part of the onboarding due diligence process
- Work closely with Enterprise Compliance to ensure partners and sub-clients maintain appropriate controls to meet established regulatory compliance standards
- Perform problem management, resolution, escalation of issues as necessary
- Act as a subject matter expert in designated Risk discipline (BaaS, Cards, Payments, etc.)
- Additional compliance related projects as needed
- Familiarity with current real-time monitoring to ensure regulatory compliance
- Assist in the oversight of the risk management program. Ensure compliance to the risk management policies and facilitate ongoing independent risk assessments as needed
- Complete variance trend analysis and provide synopsis of pattern changes
- Review and participate in monthly dispute process for payments
- Review and participate in monthly ACH utilization meetings
- Build monthly dashboards for the business (KRIs)
- Ability to present complex relationships, flow of funds to internal, external auditors
Our take
Cross River is a fintech and banking company that builds scalable embedded payments, cards, lending, and crypto solutions for businesses and individuals. Now a unicorn company with a valuation exceeding $1B, Cross River was founded in 2008 as a way to combine the innovations of financial technology with the existing world of banking.
Cross River has partnered with rising fintech businesses such as Ibanera, helping the Florida-based company build an all-in-one cross-border payments service. The company’s bigger picture approach has allowed it to develop several arms in the lending, compliance, and capital market sectors, amongst others, leading to a corporate flexibility that is crucial in the rapidly-evolving market.
Freddie
Company Specialist at Welcome to the Jungle
Insights
4% employee growth in 12 months
Company
Funding (last 2 of 4 rounds)
Mar 2022
$620m
LATE VC
Apr 2020
$100m
SERIES C
Total funding: $848m
Company benefits
- Retirement planning
- Employee development fund
- Ongoing learning and development opportunities
- Volunteer opportunities
- Charitable donation matching
- Monthly happy hours
- Free haircuts in our salon located at HQ
- Complimentary dry cleaning at HQ
- Valet parking at HQ
- Shuttle service to/from NYC
- Gym located at HQ
- River Cafe at HQ
Company HQ
Fort Lee, NJ
Leadership
Gilles Gade
(Founder, CEO & Chairman)Previously CFO at First Meridian Mortgage, Co-Founder and Managing Director at Chela Technology Partners, Associate Director at Barclays Capital and Investment Banking Associate at Bear Stearns & Company.
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