Regulatory Reporting Manager, Flywire
$108-130k
Global payments processing
Job no longer available
Global payments processing
1001+ employees
Job no longer available
$108-130k
1001+ employees
Company mission
To improve the payment experience for everyone.
Role
Who you are
- We, at Flywire, are seeking a Regulatory Reporting Manager - Money Transmitter Licensing - that will oversee money transmitter filings for our USA licensed entity. This role is key to supporting a rapidly growing business and meeting the regulatory and call reporting requirements for each of the states that we operate in
What the job involves
- Regulatory Reporting & Compliance:
- Manage quarterly MSB Call Reports for FinCEN and state regulators, ensuring accurate reporting of transaction volumes by service type, geographic distribution, and compliance metrics
- Oversee calculation and certification of average daily transmission liabilities (ADTL) for surety bond adequacy and compliance with state minimums (typically up to $500,000)
- Maintain permissible investments schedules (cash, short-term securities, Treasury instruments) equal to all outstanding money transmission obligations, tracking market values per GAAP standards
- Coordinate with Finance and Treasury to ensure net worth requirements are met and documented (MTMA requires 3% of first $100M in assets + tiered rates above)
- Prepare and file audited financial statements, compliance certifications, and state-specific license renewal filings annually or as required
- Monitor regulatory changes across 50+ states, including MTMA adoption timelines, and assess impact on current licensing posture and reporting obligations
- License & Regulatory Management:
- Own the multi-state money transmitter licensing portfolio, managing renewal deadlines, fee payments, and compliance documentation across jurisdictions
- Conduct quarterly license compliance audits to verify all requirements (surety bonds, permissible investments, net worth) remain satisfied
- Manage relationships with state regulators, responding to information requests and inquiries within required timeframes
- Maintain detailed records of all regulatory filings, correspondence, and compliance evidence for minimum 5-year retention periods
- Reporting Infrastructure & Analytics:
- Build and maintain data infrastructure to extract transmission volumes, customer metrics, and financial data from core systems for regulatory reporting
- Develop reconciliation procedures and controls between operational databases and regulatory filings to ensure data integrity
- Create regulatory dashboards and KPI tracking for leadership visibility into compliance posture and emerging risks
- Policy & Documentation:
- Draft and maintain policies for regulatory reporting, license management, and compliance certification processes
- Document all regulatory requirements and controls in a centralized compliance framework accessible to stakeholders
- Provide training to finance, operations, and business teams on reporting obligations and data requirements
- Technologies We Use:
- NetSuite (ERP)
- Looker (BI tool)
- Excel
- NMLS Database
Our take
Flywire is a digital platform that simplifies the paying experience for international transactions. Flywire leverages its vertical-specific software and payments technology to deeply embed within client's existing accounts-receivable workflows.
Flywire was first set up to help international students pay their tuition for American colleges, but has since grown into a global payments enablement and software company. It has processed billions of dollars in payments for clients across the world and secured approval for its major payment institution license, enabling it to operate domestic money transfer and cross-border money transfer services.
Flywire serves clients across education, healthcare, travel, and B2B, including several Ivy League schools, and top US hospital systems. The company appears to be focussed on growth, including by strategic acquisitions and entry into new markets, recently in the Asia Pacific and Australia, as well as further developing its channel partners ecosystem.
Steph
Company Specialist at Welcome to the Jungle
Insights
12% employee growth in 12 months
Company
Funding (last 2 of 8 rounds)
Mar 2021
$60m
SERIES F
Feb 2020
$120m
SERIES E
Total funding: $323.2m
Company HQ
Downtown Crossing, Boston, MA
Leadership
Mike Massaro
(CEO)Mike joined Flywire as a VP of Business Development in 2012 before becoming CEO in 2013. Prior to this, he spent 6 years at Carrier IQ as a VP of Strategic Accounts & Corporate Development and Advisor.
Salary benchmarks
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