Job purpose

The Chief Compliance Officer (CCO) leads the company forward through a changing and adaptive regulatory environment, provides strategic leadership and guidance, and ensures the company is compliant and in good relations with every applicable regulating body. Major compliance areas include lending, money transmission, banking, BSA & AML, financial crimes, OFAC, and other state and federal regulatory requirements. The CCO will report directly to the Chief Executive Officer and is responsible for collaborating with other executives and team members across Finance, Legal, HR, Product, Security, Data, and Engineering. The CCO will additionally be responsible for keeping the company’s Board of Directors and Audit & Risk Committee informed as to high level compliance matters as well as risk assessments. As the company plans to launch new financial services products, the CCO will participate in strategic planning around the attendant regulatory matters, and will execute implementation of new regulatory programs which may be required as additional products are launched.

Duties and responsibilities

• Manage and provide strategic guidance and representation to company and company leadership on local, state, and federal governmental requirements for financial institutions including but not limited to KYC, BSA, AML, OFAC, MLA,EDD, TILA, ECOA, and UDAAP.
• Act as direct supervisor of the company’s Director of Regulatory Compliance and Director of Financial Crimes Compliance;
• Identify potential areas of compliance vulnerability and risk; Develop corrective action plans for resolution of any identified issues, and provide general guidance avoidance of similar situations in the future; Monitor and coordinate compliance activities of other departments to remain informed of the status of all compliance activities and to identify trends;
• Interpret current and evolving state and federal laws and regulations related to money services businesses, money transmitters, and lenders;
• Implement compliant policies and procedures and determine regulatory requirements of new financial offerings by the company;
• Develop and implement compliance audit testing;
• Manage external audits and remediations;
• Manage exams and spearhead licensing for the company's financial offerings;
• Collaborate with other departments as needed to ensure compliance issues are addressed, investigated, resolved and once resolved, continually adhered to in practice;
• Respond to state and federal agency inquiries and complaints;
• Oversee internal compliance reviews and manage outside auditors, as needed;
• Participate with other stakeholders in generation of risk analysis reports;
• Assist responsible parties with the SOC 1 & 2 audit processes;
• Work with Human Resources to develop effective compliance training programs, including appropriate introductory training for new employees as well as ongoing training for all employees and managers; and
• Provide reports to senior management and the Board of Directors regarding the operation and progress of compliance efforts.
  

Education, experience, licensing and other requirements

• Applicants should have at least some knowledge of bitcoin, with a demonstrated passion and commitment to learning more
• Role requires a minimum of 5-10 years’ regulatory compliance management experience at a lender, cryptocurrency exchange, or other money transmitter and/or money services business (or a governmental regulator of the foregoing)
• Prior experience should include: responsibility for regulatory examinations and audits, financial crimes and OFAC compliance, CFPB regulatory compliance, experience with state and federal regulatory licensing application and renewal
• Experience in assisting with requests related to SOC 1 & 2 certifications preferred
• Strong technical understanding of the financial services regulatory environment
• Excellent communication skills
• Understanding of the internal audit processes
• Prior experience communicating with regulators
• Startup experience preferred
• Ideally holds certifications such as CAMS, CFCS, CRCM, or CFE