Director of Know Your Customer, Mercury
$219.6-287.1k
Salary is dependent on location. For Canadian candidates (any location): $222,000 - $261,300 (CAD). Total compensation includes equity
Banking services for startups
Job no longer available
Banking services for startups
501-1000 employees
Job no longer available
$219.6-287.1k
Salary is dependent on location. For Canadian candidates (any location): $222,000 - $261,300 (CAD). Total compensation includes equity
501-1000 employees
Company mission
To make scaling tech companies simpler with a personalized banking stack for startups, and power the next generation of companies that will shape the American industry.
Role
Who you are
- Have 7+ years of work experience in Onboarding / KYC / Due Diligence or related operational area, 10+ years of work experience overall
- 7+ years of people management experience (ICs + managers), ideally in Fintech, Risk, Compliance, Operations, or Trust & Safety
- Be a strong analytical thinker - you are metrics-driven and results oriented
- Be an excellent collaborator and communicator - you can motivate your team, secure buy-in from leadership, and work effectively with all functions, including Eng, Support, Compliance, Product, and Data Science to drive outcomes
- Be comfortable with decision making in a fast paced, ambiguous environment
What the job involves
- We are looking for a proactive senior leader and a first-principles thinker who will bring a strategic mindset to the way we approach KYC, CIP and due diligence, both and bridge our onboarding processes with our ongoing efforts to manage customers’ risk profile
- The Head of KYC will help shape our risk management vision more broadly as a member of the Mercury Risk leadership team, and will play a key role in all aspects of risk management while partnering closely with Product and Compliance orgs
- Lead a large group (>40 individuals) responsible for conducting application reviews and ongoing due diligence, and make decisions on applications and accounts
- Set strategy and vision for the newly formed KYC team ensuring alignment across multiple risk teams
- Mentor, coach and support Onboarding and Ongoing Due Diligence managers
- Partner cross-functionally to increase review efficiency and customer experience through automation, tooling improvements and clear policies and procedures
- Drive short- and long-term initiatives to enhance risk performance, including SLAs, approval rates, friction, losses, etc
- Understand KYC and due diligence implications on other risk areas, including Fraud, AML, Sanctions, and others, and ensure a robust first line of defense
- Educate the company on Risk’s KYC efforts, and what we’re doing to strengthen them while we reduce unnecessary friction
- Become an expert on Mercury’s products, and Risk’s program, policies, and tools
- Enable risk based decisions by clearly articulating the balance between KYC and identification requirements, and the product experience
- Builds effective professional relationships with business groups, internal/external stakeholders and trust with banking partners
Otta's take
Sam Franklin
CEO of Otta
Frustrated by the archaic, fee-laden banking services offered to entrepreneurs, the founders of Mercury set out to create a better solution. They envisioned a platform that was dynamic, tech-driven, and free from unnecessary fees.
Mercury delivers on this vision by automating business payment processes, offering FDIC-insured accounts, and providing full API access, empowering entrepreneurs with greater control and efficiency. This approach stands in stark contrast to traditional startup banking, which often burdens young businesses with high fees and limited functionality.
By prioritizing user experience and offering a free service tier, Mercury has attracted over 100,000 businesses and achieved a $1B valuation in 2021. As a rising unicorn in the stagnant world of startup banking, mercury is poised for continued growth, constantly adding new features and expanding its team to further disrupt the industry.
Insights
Some candidates hear
back within 2 weeks
50% employee growth in 12 months
Company
Funding (last 2 of 4 rounds)
Jul 2021
$120m
SERIES B
Sep 2019
$20m
SERIES A
Total funding: $150.9m
Company benefits
- Health, dental, & vision
- 12+ weeks of paid parental leave
- $600 USD custom WFH equipment setup
- Unlimited vacation policy (with a mandatory minimum)
- Retirement matching up to 4% of base salary (401k/RRSP)
- Paid 6-week sabbatical after the 5-year mark
- Annual $1K USD learning & development budget
- Unlimited book budget
- Weekly $100 USD food budget
- Monthly $100 USD wellness budget
- Monthly $50 USD cellphone reimbursement
- Pet-friendly offices with free tea & lunch
Company values
- Think actively: Question processes. Give thoughtful feedback. Find the best way to do something instead of going by how it’s always been done
- Be super helpful: Practice intentionality and accountability. Go above and beyond to solve problems, and do it as a team
- Act with humility: Treat everyone with respect. Leave egos at the door
- Appreciate quality: Work with the best equipment. Avoid cutting corners. Take pride in crafting a lasting product
- Maximize efficiency: Minimize unnecessary meetings and bureaucracy. Work together to get the job done right
- Focus on product: Ask yourself how the product can be better today than it was yesterday
Company HQ
SoMa, San Francisco, CA
Articles
Founders
Jason Zhang
(COO)Studied Biology at Stanford before spending over 4 years at Heyzap in Business Development.
Immad Akhund
(CEO)Graduated from the University of Cambridge, then worked as a Software Developer at Aquila and Bloomberg. Also founded Clickpass and Heyzap, and was a Part-time Partner at Y Combinator.
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