AML Specialist
Website Novo
We started Novo to challenge the status quo—we’re on a mission to increase the GDP of the modern entrepreneur by creating the go-to FinTech platform for small businesses (SMBs). Novo is flipping the script of the FinTech world, and we’re excited to lead the small business FinTech revolution.
We are looking for people of character. Pragmatic and capable people who want to see their work drive better outcomes for small businesses — the backbone of our economy. You will join our team and work on the building blocks of everything Novo ships.
Why Novo?
- Novo is a rapidly growing series B fintech startup with a mission-driven team that’s passionate about helping every small business in America
- Positive, inclusive, supportive culture cheering you on your journey
- We work with very new technologies and architecture patterns
- We provide learning and development budgets to help you grow and bond with your team
- Hybrid work culture
- Offices in NYC, Miami, and India for those that want to whiteboard in person
We are looking for a AML Specialist who understands how to work collaboratively across-departments to help build, create, and provide support to implement our AML Compliance Program. Are you ready to revolutionize the small business banking industry with us?
About the Role:
- Provide support for the BSA Manager and the Head of Compliance across a variety of activities:
- Implementation and administration of the BSA/AML and OFAC programs
- Conducting BSA/AML/OFAC risk assessments
- Tracking and reporting for senior management
- Supporting audits and regulatory examinations
- Drafting and updating policies and procedures
- Collaborate cross functionally within Novo and with external stakeholders to guarantee the success of BSA/AML program
- Assist investigators with review and decisioning system alerts as needed. Draft Suspicious Activity Report (SAR) narrative, where applicable. Make recommendations for account closeouts and/or restrictions based upon investigation results
- Provide supporting documentation and explanation of SARs and investigate activities from ad-hoc escalations by partner bank(s), internal stakeholders, and law enforcement
- Ensure proper resolution and documentation for cases escalated by the BSA/AML operations team
- Perform enhanced due diligence (EDD) reviews for prospective customers when requested by Banking Operations or other collaborators. Conduct research and report findings to the BSA Manager.
- Act as a training and information resource on BSA/AML across Novo, informing stakeholders of changes in regulatory requirements related to BSA/AML, as well as revisions to applicable policies and procedures
- Lead special projects or assignments as necessary
Requirements for the Role:
- Bachelor’s degree required
- 3-5 years of progressive experience performing transaction monitoring of account activity, AML, financial crimes, compliance and/or law enforcement experience
- Knowledge of the BSA, AML, USA Patriot Act, KYC, and OFAC regulations.
- Ability to work independently as well as to collaborate with other compliance team members and departments on various projects and initiatives
- Excellent communication skills (verbal and written), analytical skills, interpersonal skills, and research skills.
- Works well in fast paced, strong attention to detail, intuitive, energetic, and self-motivated
How We Define Success:
- Working collaboratively with Product, Engineering, Banking Operations to assist in the set-up of AML Compliance Framework
Nice To Have, but Not Required:
- Prior FinTech experience is a plus
Novo values diversity as a core tenant of the work we do and the businesses we serve. We are an equal opportunity employer, indiscriminate of race, religion, ethnicity, national origin, citizenship, gender, gender identity, sexual orientation, age, veteran status, disability, genetic information or any other protected characteristic.
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