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
We are seeking a hardworking, detail-oriented, proactive, solution-oriented director with a good attitude who is looking for a career. The primary responsibilities for the role will include performing initial risk and compliance due diligence review on new Fintech Bank partners and products. In addition, this role will assist in the preparation of the due diligence memorandum detailing the scope of the review, identifying, analyzing risks, and assessing the partner's Compliance Management System and Risk Management Systems.
Responsibilities:
- Assist with initial compliance reviews on partners/business lines at appropriate intervals to evaluate compliance with applicable laws and regulations and adequacy of internal controls designed to prevent and detect violations of laws and regulations.
- Perform and/or review consumer, commercial compliance Risk and Control Assessments.
- Update and, when necessary, draft compliance-related policies and procedures related to the Bank's partner oversight operations.
- Utilize the Bank's system of record for tracking and documenting the review and assessment activities performed as part of the onboarding due diligence process.
- Work closely with Enterprise Compliance to ensure partners and sub-clients maintain appropriate controls to meet established regulatory compliance standards.
- Perform problem management, resolution, and escalation of issues as necessary.
- Act as a subject matter expert in designated Risk discipline (BaaS, Cards, Payments, etc.).
- Additional compliance-related projects as needed.
- Familiarity with current real-time monitoring to ensure regulatory compliance.
- Assist in the oversight of the risk management program. Ensure compliance with the risk management policies and facilitate ongoing independent risk assessments as needed.
- Complete variance trend analysis and provide synopsis of pattern changes.
- Review and participate in monthly dispute process for payments.
- Review and participate in monthly ACH utilization meetings.
- Build monthly dashboards for the business (KRIs).
- Ability to present complex relationships and flow of funds to internal and external auditors.
Qualifications:
- BA/BS Degree.
- Minimum 5-10 years relevant experience in consumer and commercial lending compliance with experience in BaaS, Credit Card, and/or BIN Sponsorship experience and Issuing, Acquiring payments.
- Extensive knowledge of the laws, regulations, and subjects applicable to consumer commercial products, BaaS, debit, and prepaid cards.
- Familiarity with Fintech banking and partnership structure.
- Experience completing and/or reviewing Risk and Control Assessments.
- Ability to research and analyze laws and regulations, formulating positions to management in a meaningful manner.
- Experience with testing transactions, reviewing customer-facing disclosures, and website reviews to ensure compliance with applicable regulatory and network requirements.
- Operate with integrity, ability to work independently, and strong problem-solving skills.
- Exceptional collaboration skills and a desire to work as part of a high-performing and demanding team.
- Strong verbal and written communication skills with comfort interacting directly with senior management of both the Bank and prospective Fintech partners.
- Experience evaluating Compliance Management Systems in the unsecured consumer/commercial lending industry, including marketplace lending and credit cards, payments.
- Experience evaluating Compliance Management Systems in the consumer deposit & debit product space, including Banking as a Service (BaaS).
- Experience with Network rules across business lines (BaaS, Cards, Payments).
- CRCM preferred but not required.
Salary Range: $160,000.00 - $200,000.00
Cross River is an Equal Opportunity Employer. Cross River does not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, non-disqualifying physical or mental disability, national origin, veteran status or any other basis covered by appropriate law. All employment is decided on the basis of qualifications, merit, and business need.
By submitting your application, you give Cross River permission to email, call, or text you using the contact details provided. We will only contact you with job-related information.
