AML Digital Asset Transaction Monitoring Associate, Cross River

$85-100k

Excel
Senior and Expert level
New York

Office located in Fort Lee, NJ

Cross River

Banking and fintech services

Open for applications

Cross River

Banking and fintech services

1001+ employees

FintechB2CB2BBankingMortgagesLendingSaaS

Open for applications

$85-100k

Excel
Senior and Expert level
New York

Office located in Fort Lee, NJ

1001+ employees

FintechB2CB2BBankingMortgagesLendingSaaS

Company mission

To enable clients to deliver responsible financial solutions that empower consumers anytime, everywhere.

Role

Who you are

  • Education: High School Diploma or equivalent; Bachelor’s degree in criminal justice, finance, business, or a related field preferred
  • Skills: Strong analytical and organizational abilities with attention to detail and the capacity to resolve complex compliance issues
  • Excellent written and verbal communication skills, with the ability to provide constructive feedback and clear documentation
  • In-depth understanding of AML-related laws and regulations, including the Bank Secrecy Act, PATRIOT Act, OFAC rules, and familiarity with the FFIEC Exam Manual
  • Knowledge of digital asset technologies and their associated money laundering and terrorist financing risks
  • Proficiency in Microsoft Office (Word, Excel, PowerPoint, Outlook) and experience with AML compliance software
  • Experience with cryptocurrency exchanges, wallets, and DeFi platforms is highly desirable
  • Familiarity with advanced transaction monitoring tools and the ability to analyze transactions
  • Ability to work independently and collaboratively in a fast-paced, dynamic environment while maintaining high-quality standards
  • Experience: 5+ years in banking or financial compliance, or a role related to criminal justice, fraud, or investigations, with a strong focus on AML regulations, especially if experience is related to the Digital Asset or other High-Risk industries

What the job involves

  • As part of the Compliance department, the AML/CFT Digital Asset Analyst is tasked with ensuring the bank's compliance with anti-money laundering (AML) and counter-terrorist financing (CFT) regulations, particularly within the high-risk arena of digital assets and cryptocurrency
  • This role involves the comprehensive review and analysis of customer transactions to identify potential suspicious activities, ensuring that the bank’s policies and procedures align with regulatory requirements to mitigate risks associated with digital assets
  • Conduct detailed reviews of transactions involving digital assets to ensure compliance with AML/CFT regulations
  • Identify and escalate unusual or suspicious activities across various digital asset products and customer types
  • Manage a portfolio of investigations, ensuring adherence to deadlines and compliance standards
  • Review customer documentation and KYC information to assess risks related to digital asset transactions
  • File Suspicious Activity Reports (SARs) with FinCEN when necessary, ensuring all required documentation is complete and accurate
  • Communicate findings clearly to relevant stakeholders to facilitate appropriate action and remediation
  • Stay updated on regulatory changes, industry best practices, and emerging risks in the digital asset and cryptocurrency space
  • Complete required training and proactively seek additional learning opportunities related to AML/CFT and digital assets
  • Collaborate with cross-functional teams on AML/CFT compliance initiatives
  • Adhere to all Federal and State laws and regulations, including the Bank Secrecy Act

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Insights

Top investors

4% employee growth in 12 months

Company

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

Funding (last 2 of 4 rounds)

Mar 2022

$620m

LATE VC

Apr 2020

$100m

SERIES C

Total funding: $848m

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.

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Freddie

Company Specialist at Welcome to the Jungle