Enterprise Head of Customer Due Diligence & Onboarding, Cross River
$150-200k
Office located in Fort Lee, NJ
Banking and fintech services
Open for applications
Banking and fintech services
1001+ employees
Open for applications
$150-200k
Office located in Fort Lee, NJ
1001+ employees
Company mission
To enable clients to deliver responsible financial solutions that empower consumers anytime, everywhere.
Role
Who you are
- Bachelor’s Degree required
- Minimum of 10+ years of BSA/AML compliance experience; experience working for financial institutions or highly regulated industry and/or law enforcement and investigations preferred
- Background knowledge of BSA and AML laws and regulations, including the Bank Secrecy Act, the USA Patriot Act, AML Act of 2020 and OFAC requirements
- Knowledge of enhanced due diligence matters, financial fraud and applicable state and federal laws, payments, MSBs, correspondent banking and complex customer types and product offerings
- Ability to manage complexity, multi-task and deliver solutions on a tight deadline
- Experience in BaaS, partner banking, and/or customer/client experience preferred
- Experience of working within a strong regulatory/control environment
- Strong communication skills, written and verbal
- Strong analytical, problem solving and organizational skills
What the job involves
- Manage and oversee a centralized due diligence and onboarding function across Consumer Compliance and Financial Crimes Compliance
- Review AML programs and controls for Banking as a Service, Marketplace Lending and/or Payments Fintech partners to ensure their programs align with Cross River’s risk appetite
- Interface directly with the business and Fintechs on building and reinforcing AML programs and controls to launch sustainable programs
- Establish and maintain processes for proactively identifying and assessing BSA CDD across the product lifecycle and deploying compliance resources in accordance with those risks and the Company’s risk appetite as part of the due diligence and onboarding process
- Oversight and establishment of change management processes covering both internal changes (e.g., new or modified products/services) and external changes (e.g., changes to law/regulation) that relate to the CDD Program for new partner product onboarding and due diligence processes
- Partner with Fintech Banking and Product teams for new products and services to assess BSA/AML and OFAC risks and control environment ahead of new product or service launch
- Manage the tracking and remediations of high-risk issues and escalations as well as producing metrics and/or key performance indicators as they relate to CDD Oversight
- Communicate effectively with internal stakeholders, including Business Risk, Relationship Management teams and other areas of BSA/AML
- Provide guidance and advice on due diligence requirements from a Financial Crimes Compliance risk-based approach
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 $1 billion, 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.
Cross River was named as one of several companies under investigation for facilitating PPP fraud in the US as of December 2022. It has also come under intense scrutiny from the FDIC for allegations of unsafe banking practices in relation to its lending activities, with a consent order issued in March 2023. In the wake of the FTX and Silicon Valley Bank collapses the regulatory environment is getting tougher and Cross River clearly needs to ensure its processes and activities are compliant with the law if it is going to return to its previous position of growth.
Freddie
Company Specialist at Welcome to the Jungle
Insights
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 values
- Humility
- Integrity
- Creativity
- Compassion
- Responsibility
Company HQ
Fort Lee, NJ
Articles
Leadership
Gilles Gade
(CEO & Chariman)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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