Compliance Associate, Wealthfront
Transaction Monitoring
$114.5-125k
+ Equity
Office located in Palo Alto, CA
Automated investment management
Open for applications
Automated investment management
201-500 employees
Open for applications
$114.5-125k
+ Equity
Office located in Palo Alto, CA
201-500 employees
Company mission
To build a financial system that favors people, not institutions.
Role
Who you are
- Deep, wide, and practical understanding of money laundering typologies and related red flags
- Adept at developing, refining, and reviewing transaction monitoring parameters designed to surface suspicious activity
- Excellent analytical and organizational skills, able to set and meet deadlines in a fast-paced environment
- Strong working knowledge of BSA/AML, FINRA, MSRB, and SEC regulations
- Experience leading cross-functional projects, including collaboration with engineering teams
- Strong verbal and written communication skills
- Intellectually curious, and interested in applying technology to enhance business processes
- Broad analytical skills, with experience identifying and quantifying problems while providing creative, effective solutions
- BA/BS degree
- 2 - 4 years direct or relevant experience conducting Anti-Money Laundering (AML), Sanctions or Follow-the-Money-related analysis and/or investigations
- Willingness to obtain applicable registrations and/or licenses as necessary
Desirable
- CAMS certification
- Experience with SQL
- Certified Fraud Examiner certification
- Experience at a Broker-Dealer, including FINRA Series 7 and 24 registrations
- Product experience including mutual funds, money market funds, ETFs, margin products and 529 plans
- Experience with or general understanding of broader financial services including investment advisory and banking
What the job involves
- Wealthfront is seeking a talented, passionate, and experienced compliance professional to join the Financial Crimes Compliance team’s transaction monitoring program
- This individual will work closely with other members of the Legal and Compliance division, and collaborate with other departments across the firm including Fraud Operations, Product Support, and Engineering
- Conduct in-depth reviews of transactional activity, internal KYC records, and open source research in accordance with regulatory reporting requirements
- Partner with Engineering teams to develop new and enhance existing transaction monitoring processes
- Leverage expertise to assist in the identification of unusual financial activity indicating potential money laundering, terrorist financing, and fraud
- Conduct deep-dives into account and transaction activity to identify and expand upon existing Fraud and Anti-Money Laundering (AML) typologies
- Support the Company’s suspicious activity detection, transaction monitoring, and reporting programs and drive enhancements to the program, including updates to related controls and accompanying policies and procedures
- Assist with the Company’s adverse media and PEP watchlist screening
- Maintain awareness of and provide thought leadership for impending regulatory changes
Our take
Wealthfront's platform takes the hassle and stress out of investing, financial planning, borrowing, and saving with automated services and financial advice. Its robo-advisor allows customers to set a financial limit on their accounts, anything above the limit is moved into an investment account or another account chosen by the customer.
Indeed, it has some similarities to round-up apps like Acorn, which round up purchases and put the spare change into savings. There are other companies working on robo-advisors too, such as Morgan Stanley and Betterment.
Nonetheless, with an impressive and steadily increasing list of clients, with more than $50B of assets under its management, Wealthfront achieved Unicorn status in September 2022. Wealthfront is diversifying its offerings, branching into high-interest checking accounts and investment advice.
Steph
Company Specialist at Welcome to the Jungle
Insights
-4% employee growth in 12 months
Company
Funding (last 2 of 6 rounds)
Jan 2018
$75m
SERIES E
Oct 2014
$64m
SERIES D
Total funding: $204.5m
Company benefits
- 401(k)
- Medical/Vision/Dental insurance
- HSA contributions for high deductible plans
- Discretionary time off policy
- 16 weeks of paid parental leave (both parents)
- Flexible working hours
- Monthly wellness reimbursement
Company HQ
University South, Palo Alto, CA
Leadership
Dan Carroll
(CSO)They studied Finance and Entrepreneurship at the University of Arizona before using this expertise to co-found Wealthfront in December 2008.
Andy Rachleff
(Executive Chairman)Prior to Wealthfront, they co-founded and was General Partner of Benchmark Capital, where they were responsible for investing in a number of successful companies including Equinix, Juniper Networks, and Opsware.
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