AML/CFT Client Due Diligence Analyst, Cross River
Payments
$65-90k
Office located in Fort Lee, NJ
Banking and fintech services
Be an early applicant
Banking and fintech services
1001+ employees
Be an early applicant
$65-90k
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
- Knowledge of banking and payments products and services, including payments flows, virtual currency companies, MSB structures, NACHA and Card network structures, among others
- Minimum 2-3 years of experience working within a due diligence or client onboarding framework within a Financial Institution, Payfac, MSB or general Payments industry
- Background knowledge of AML/CFT, Compliance and Risk programs
- Experience or familiarity with merchant acquiring and merchant underwriting
- Ability to manage complexity, multi-task and deliver solutions on a tight deadline
- Strong work-ethic with ability to deliver quickly with minimal manager direction, take ownership and work independently
- Strong interpersonal relationship and partnership skills
- 2+ Years working within Bank Compliance, BSA, or FinTech. 1+ years of experience working with third party technology providers (i.e., client onboarding/KYC vendors)
- BA/BS Degree or 3+ years of equivalent experience
What the job involves
- This position sits within the bank’s Client Due Diligence (CDD team) and will be responsible for conducting client due diligence at an onboarding and ongoing basis, including reviewing fintech partner’s AML/CFT and OFAC policies as well as its independent audit reports
- The analyst will be working with various internal stakeholders, such as bank compliance, legal, operations, sales, implementations, to ensure that the partners we bring in are compliant with current regulations and aligned with the bank’s own policies on an ongoing basis
- Review and prepare customer due diligence memos and client documentation for new client onboarding, from an AML/CFT and OFAC perspective
- Conduct Ongoing Monitoring and Oversight over existing relationships, and sampling/QA based on CRB’s risk-based approach
- Ensure information is accurate, complete and in-line with existing CRB Policies and Procedures
- Review and evaluate risks within the client structure, including (but not limited to) the client’s proposed flow of funds, expected activity, regulatory structure and licensing requirements and general company background information
- Communicate effectively with internal stakeholders, including Business Development, Partnership Management teams and other areas of the Control framework, including Risk, Compliance, AML/CFT and Operations
- Provide guidance and advice to partners and stakeholders on due diligence requirements from a 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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