Money Laundering Reporting Officer, Lemfi
Canada
International payments service
Open for applications
International payments service
201-500 employees
Open for applications
201-500 employees
Company mission
To improve the financial lives of the next generation of immigrants.
Role
Who you are
- A Diligent Self-Starter: You thrive in a fintech startup environment with a humble, uplifting attitude and a strong sense of work ethic
- Expertly Informed: You possess advanced knowledge of FINTRAC requirements and provincial regulations, combined with a standard understanding of global AML/CFT best practices
- Adaptable: You are comfortable working in a rapidly changing business environment and can pivot quickly to meet global operational needs
- A Strong Communicator: You have excellent analytical and research skills, with the ability to translate complex regulations into clear written and verbal guidance
- Team-Oriented: You are an empowering, constructive colleague who enjoys working as part of a mission-driven team
- At least 3 years of experience in a senior or management compliance role at a Canada-based fintech or financial institution
- Direct experience with regulatory communications and licensing efforts specifically with FINTRAC
- Comprehensive knowledge of Canadian federal and provincial regulatory environments and registration requirements
- Demonstrated capability to interpret and implement RPAA requirements
- Bonus: CAMS certification (or equivalent) is highly preferred
- If you are excited about this role and our mission, we encourage you to apply anyway. You might be just the right person for this, or other roles
What the job involves
- You will be the anchor of our regulatory integrity in North America
- As the senior and Designated Compliance Officer for Canada, you will take full ownership of LemFi’s compliance with all AML/CTF requirements
- This is a high-impact, remote role where you will not only maintain our standing with FINTRAC but also spearhead our transition into RPAA compliance
- You will act as the primary liaison between LemFi, national regulators, and our Canadian banking partners to ensure our growth is as secure as it is rapid
- Own the Regulatory Landscape: Spearhead efforts to obtain and maintain necessary licenses and registrations, ensuring our products fit the evolving Canadian regulatory environment
- Lead RPAA & AML Programs: Become LemFi’s internal expert for the Retail Payment Activities Act (RPAA) - developing the program from the ground up and ensuring it aligns with our global enterprise operations
- Strategic Reporting & Liaison: Serve as the main point of contact for FINTRAC and law enforcement, managing all STR, UAR, and EFT filings while providing critical MIS updates to the Board and Senior Executive team
- Risk Management & Audits: Develop regional AML risk assessments to identify key indicators and lead all regulatory or independent AML audits within Canada
- Collaborate & Mentor: Manage and guide compliance staff focused on Canadian operations while assisting the Global Compliance Officer with cross-functional initiatives
Our take
LemFi, previously known as Lemonade Finance, is a fintech platform addressing the challenge of accessing reliable financial services faced by millions of immigrants worldwide. By offering quick onboarding and a multi-currency offering, LemFi allows its users to send, receive, hold, convert, and save in both their country of origin and residence currencies.
Recognizing the limitations faced by traditional banks and neo-banks, LemFi offers instant international transfers at favorable exchange rates with no transfer fees. Initially launched in Canada, growing demand for the company's services has allowed it to expand to the UK, and broaden its African payment channels.
The company has secured good funding from prominent investors like Y-Combinator, Zrosk, Global Founders Capital, and Olive Tree. With plans to expand its product offering across the globe, LemFi will further its mission of providing accessible and transparent financial services to migrant communities worldwide.
Steph
Company Specialist at Welcome to the Jungle
Insights
Company
Company HQ
Downtown, Oakland, CA
Leadership
Ridwan Olalere
(Co-Founder & CEO)Also the Founder of forLoop Africa. Previously the Country Manager of Uber Nigeria. Also worked as a Software Developer at Flutterwave, Hotels, Novatia, and NextMynds.
Rian Cochran
(Co-Founder)Previously a Financial Director at Opera Software, Powerbets Holdings, and OPay.
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