Compliance Testing Manager, Lemfi
International payments service
Job no longer available
International payments service
201-500 employees
Job no longer available
201-500 employees
Company mission
To improve the financial lives of the next generation of immigrants.
Role
Who you are
- You are a candidate who would thrive in a fintech startup environment like ours, where we readily accept individuals with a humble, yet uplifting attitude alongside a diligent sense of work ethic
- Total of 6 years of experience in AML and sanctions compliance
- Minimum of 3 years in a Manager-level compliance testing role
- Advanced knowledge of, at minimum, US BSA/AML, CTF, and sanctions regulations, particularly as it pertains to banks and MSBs
- Direct experience with developing and managing BSA/AML, CTF, and sanctions testing programs
- Demonstrated knowledge of US consumer compliance regulations and testing standards
- Prior direct experience managing a team of compliance staff
- Flexibility: Willingness to explore different and various ways of doing things, including the opportunity to modify one’s preferred way of doing things
- Critical Thinking: Clearly defining and understanding the issues, and solving them through a logical approach with data, facts, and observations
What the job involves
- The Compliance Testing Manager role at LemFi will be responsible for developing and overseeing a comprehensive global compliance testing program to assess the effectiveness of AML, CTF, sanctions, and consumer compliance controls across the US, UK, Canada, and other jurisdictions
- This role involves designing and executing regular control testing, leading the model validation program, and ensuring proper documentation and follow-up on identified issues
- The manager will support audit project management efforts, collaborate closely with key stakeholders to implement corrective actions, and report findings to the Board of Directors
- Additionally, they will lead the Quality Assurance team by setting KPIs and driving performance evaluations to maintain high standards across all compliance functions
- Develop and maintain a global compliance testing program with appropriate testing scopes to test the effectiveness and regulatory compliance of AML, CTF, sanctions, and consumer compliance programs (including Gramm-Leach-Bliley Act) for LemFi in the United States, United Kingdom, Canada, and other global jurisdictions
- Conduct regular testing on compliance processes and controls in accordance with an annual testing schedule
- Build and oversee the model validation program and control testing for the purpose of validating that processes and controls are designed effectively to sufficiently mitigate the risk of relevant regulatory requirements and are operating as intended
- Adequately document the evaluation of the effectiveness of the internal controls
- Follow up with key stakeholders on compliance issues identified during testing, and ensure corrective action plans are properly conducted in a timely, acceptable manner to comply with company policies or relevant regulatory requirements
- Assist Compliance Officers with the project management function pertaining to all Compliance audits – including independent, state, and federal regulatory audits – and ensuring audits progress in a timely manner with key stakeholders
- Report testing program, results, and any corrective actions regularly to the Board of Directors;Manage and lead the Quality Assurance team unit, including setting KPIs and conducting performance reviews
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.
Share this job
View 2 more jobs at Lemfi