FCC Transaction Monitoring Development Analyst - Cross River｜Meet.jobs

Who We Are

Cross River is a highly profitable, fast-growing financial technology company powering the future of financial services. Our comprehensive suite of innovative and scalable embedded payments, cards, and lending products deliver financial services for millions of businesses and consumers around the globe. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion.

We are on a mission to build the infrastructure that propels access, inclusion, and the democratization of financial services. While our company has tripled in size over the last three years, our strong sense of purpose led Cross River to be named to American Banker’s list of Best Places to Work in Fintech for the last 6 years. The reason for this success is simple – our nimble and collaborative family culture lives in every member of our growing team. Together we are at the forefront of technology and innovation, and we invite passionate, collaborative, and motivated high performers to join our expanding team.

What We're Looking For

Cross River’s Compliance team makes sure that our business is always consistent with current regulations, and as a Financial Crimes Compliance Analyst, you will be responsible for alert adjudication, investigation, and reporting processes (“AIR”) for transaction monitoring. Specifically, the AIR team is responsible for rule and scenario-based transaction monitoring, manual monitoring, investigations and escalations, and SAR filings on behalf of CRB.

The Compliance team cares about results, not activity, and we have fun doing it. If you like challenging problems, are analytical, and a great team player—we want to hear from you!

Responsibilities:

The responsibilities of the Financial Crimes Compliance Analyst can be broken up into 2 main focus areas: Transaction Monitoring & Investigations, and Suspicious Activity Reporting.

Transaction Monitoring & Investigations

• Review and investigate potential occurrences of suspicious activity via several avenues including automated monitoring alerts in the Firm’s transaction monitoring system, suspicious activity referrals received internally or from a bank partner or customer, regulatory inquiries or subpoenas received, or as a result of 314(a) or (b) inquiries.
• Understand the risks and AML typologies that are presented to the Bank in its offering of products and services, including retail customers, MSBs/TPPs, MPLs, and Crypto platforms.
• Determine the appropriate course of action for adjudication, including but not limited to, closing the alert, creating a case for further investigation, flagging the customer for EDD Review, and/or, filing a Suspicious Activity Report with FinCEN.
• Review due diligence and conduct adverse media research on individuals and entities in order to draft comprehensive dispositions, summaries, escalations, and SARs, as applicable.
• Document, log, and effectively communicate results of alerts, cases, and ad-hoc investigations to Management.
• Maintain all records, research, and findings for proper record retention and retrieval.
• Complete all tasks necessary to facilitate the required 314(a) searches on a bi-weekly basis, including retrieval of the files from SISS, loading of the files accordingly into the appropriate internal systems, and reviewing, dispositioning, or escalating, as necessary, any potential results. Report accordingly to FinCEN.

Suspicious Activity Reporting

• Report occurrences of suspicious activity investigated to FinCEN in accordance with regulatory requirements and industry standard best practices.
• Provide thorough analysis of investigation results in the SAR, indicating the 5 Ws of the activity and method of operation.
• Stay abreast on SAR filing updates and FinCEN requirements and best practices for SAR completion.
• Escalate significant SARs to the Complex Investigations Unit.
• Maintain appropriate records and supporting documentation.

Qualifications:

• At least 5 years of experience in AML and investigations at a financial institution.
• Expertise on various AML and sanctions regulations, risks, and typologies.
• Proficient in Microsoft Excel and Microsoft Word.
• Excellent written, verbal, and analytical skills.
• Strong organizational and record keeping skills.
• Ability to work collaboratively with the business and other key stakeholders.
• Experience with transaction monitoring filtering vendors and platforms is a plus.

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Salary Range: $65,000.00 - $90,000.00

Cross River focuses on Financial Services, Finance Technology, and Blockchain / Cryptocurrency. Their company has offices in New York City and Fort Lee. They have a large team that's between 501-1000 employees. To date, Cross River has raised $648M of funding; their latest round was closed on March 2022.

You can view their website at http://crossriver.com or find them on Twitter.