Head of Know Your Customer, Mercury
$219.6-287.1k
Salary is partially dependant on applicant’s location. Plus stock options
Banking services for startups
Open for applications
Banking services for startups
501-1000 employees
Open for applications
$219.6-287.1k
Salary is partially dependant on applicant’s location. Plus stock options
501-1000 employees
Company mission
To make scaling tech companies simpler with a personalized banking stack for startups, and power the next generation of companies that will shape the American industry.
Role
Who you are
- 10+ years of experience working in an operational risk management function, such as Onboarding, KYC, Enhanced Due Diligence, or a related operational function, ideally in a financial technology company, large banking institution, or the payments industry
- Significant experience in a people management role, both of ICs and Managers, leading and developing operational teams at scale
- Deep knowledge of global KYC best practices and regulations, with a proven ability to design and scale KYC programs globally and across jurisdictions
- Be a strong analytical thinker and have the ability to leverage data to develop team and organizational metrics, such as KPIs, SLAs, approval rates, capacity planning, and other related performance indicators
- Excellent communication and collaboration skills, with the ability to motivate and guide teams through complex situations, secure Executive-level buy-in, and work effectively across internal functions and external partners
- Comfortability with decision-making and working in an ambiguous, fast-paced environment
- An ambitious sense of curiosity and a willingness to explore how KYC impacts areas outside of one’s comfort zone, such as new markets or new financial products
- Respect for and interest in financial rules and regulations, as well as an eagerness to innovate and drive the industry forward
What the job involves
- As the Head of KYC, Onboarding and Due Diligence at Mercury, you will be a key member of the Risk leadership team and will bring a principled, strategic approach to how we build and scale the foundation of our Risk programs
- You will design, enhance, and build a best-in-class operations function focused on our customer onboarding processes, lead ongoing due diligence efforts across our growing customer base, and manage customers’ risk profiles effectively, alongside internal teams and external partners
- Ultimately, you will aim to ensure the safety and compliance of Mercury and its customers, while positioning Mercury as a Risk industry leader
- Develop and execute the global KYC operations strategy for Mercury, ensuring alignment with broader risk management objectives and seamless integration across multiple Risk teams
- Lead a large team of over 50 professionals responsible for application reviews, ongoing due diligence, and decision-making on applications and accounts, including mentorship and support of risk managers, fostering a high-performance culture
- Drive short- and long-term initiatives to enhance risk performance, including improving SLAs, approval rates, capacity planning, and reducing friction and losses
- Ensure the efficiency of KYC reviews through automation, tooling improvements, and clear policies and procedures
- Partner with internal teams across Risk, Legal, Compliance, Engineering, Product, Design, Customer Support, and Go-To-Market, to design and implement KYC project initiatives and enhance overall customer experience
- Understand the implications of KYC and due diligence on other risk areas such as Fraud, AML, and Sanctions, and ensure a robust first line of defense
- Educate internal stakeholders on KYC efforts, articulating how we strengthen our processes while minimizing unnecessary friction, and build strong relationships with internal and external stakeholders, including banking and financial institutions partners
- Become a champion of Mercury’s KYC programs, and an expert in Mercury’s products, policies, and tools, clearly articulating the balance between risk identification and requirements vs. product and customer experience
- Provide senior management and Executive-level reporting on KPIs, program health, and key initiatives, ensuring visibility and alignment with organizational goals
Our take
Frustrated by the archaic, fee-laden banking services offered to entrepreneurs, the founders of Mercury set out to create a better solution. They envisioned a platform that was dynamic, tech-driven, and free from unnecessary fees.
Mercury delivers on this vision by automating business payment processes, offering FDIC-insured accounts, and providing full API access, empowering entrepreneurs with greater control and efficiency. This approach stands in stark contrast to traditional startup banking, which often burdens young businesses with high fees and limited functionality.
By prioritizing user experience and offering a free service tier, Mercury has attracted over 100,000 businesses and achieved a $1B valuation in 2021. As a rising unicorn in the stagnant world of startup banking, mercury is poised for continued growth, constantly adding new features and expanding its team to further disrupt the industry.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
Few candidates hear
back within 2 weeks
50% employee growth in 12 months
Company
Funding (last 2 of 4 rounds)
Jul 2021
$120m
SERIES B
Sep 2019
$20m
SERIES A
Total funding: $150.9m
Company benefits
- Health, dental, & vision
- 12+ weeks of paid parental leave
- $600 USD custom WFH equipment setup
- Unlimited vacation policy (with a mandatory minimum)
- Retirement matching up to 4% of base salary (401k/RRSP)
- Paid 6-week sabbatical after the 5-year mark
- Annual $1K USD learning & development budget
- Unlimited book budget
- Weekly $100 USD food budget
- Monthly $100 USD wellness budget
- Monthly $50 USD cellphone reimbursement
- Pet-friendly offices with free tea & lunch
Company values
- Think actively: Question processes. Give thoughtful feedback. Find the best way to do something instead of going by how it’s always been done
- Be super helpful: Practice intentionality and accountability. Go above and beyond to solve problems, and do it as a team
- Act with humility: Treat everyone with respect. Leave egos at the door
- Appreciate quality: Work with the best equipment. Avoid cutting corners. Take pride in crafting a lasting product
- Maximize efficiency: Minimize unnecessary meetings and bureaucracy. Work together to get the job done right
- Focus on product: Ask yourself how the product can be better today than it was yesterday
Company HQ
SoMa, San Francisco, CA
Articles
Leadership
Jason Zhang
(COO)Studied Biology at Stanford before spending over 4 years at Heyzap in Business Development.
Immad Akhund
(CEO)Graduated from the University of Cambridge, then worked as a Software Developer at Aquila and Bloomberg. Also founded Clickpass and Heyzap, and was a Part-time Partner at Y Combinator.
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