Compliance Lead
Relay
Legal
Chicago, IL, USA
Posted on Wednesday, May 29, 2024
Our mission is to increase the success rate of small businesses. Traditional banking has been a growth limiter rather than a growth enabler for business owners, and we’re changing that. Relay is the all-in-one, collaborative money management platform. We’re building for employer SMBs and their finance function, internal and external, and are focused on delivering a human-centric customer experience. Ultimately, we help SMBs be ‘on the money'.
We’re looking for a Compliance Lead to build out our compliance program. This is a unique opportunity to get in on the ground floor and help build our program, policies, and procedures from its inception. Working primarily with our sponsor bank, BaaS processors, and Unit21, this person will ensure Relay is compliant with all US banking regulations.
What You'll Be Doing
- Build out the strategy for the financial crimes team including anti-money laundering/counter-terrorist financing, client onboarding and sanction compliance operating across the US
- Lead the design of the transaction monitoring, investigation and suspicious activity reporting systems and framework making sure we maintain the highest regulatory standards while taking into mind optimal customer experience
- Develop the financial crimes, sanctions and KYC compliance policies, procedures, programs and compliance controls and across all products at Relay
- Analyze trends and patterns in alerts to develop risk mitigation and detection
- Ensure monitoring and surveillance systems are in place to prevent suspicious activities; Work with our technical teams to understand and design analytical methodologies for risk mitigation
- Collaborate with partner teams across the company and work with leadership to challenge status quo to improve and grow the business
- Collaborate with our sponsor bank on risk scorecard to ensure our compliance efforts are aligned with bank and regulatory guidelines
- Provide periodic reporting to senior management and board of directors
Who You Are
- 7+ years managing relevant compliance-related experience with a focus in financial crimes
- Extensive experience implementing frameworks for AML/BSA risk in a Fintech
- Experience creating functional and organizational processes to meet Compliance / Regulatory requirements that scale with growth
- Balance risk & rewards (including customer experience), while meeting regulatory requirements
- Prior experience building the compliance function from the ground up
Bonus Points
- You’re familiar with fraud tools like Unit 21, Sardine, etc.
- You’ve joined a company at its early stages and have seen it through scale
- You have experience working in a fintech startup
Our Commitment to You
- Competitive salary and meaningful equity: Relay employees are Relay owners, complete with equity and a competitive salary.
- Comprehensive health benefits: enjoy full health benefits from day one. We offer medical, dental, and vision coverage for you and your dependents.
- Flexible vacation and time off: every team member starts with 15 vacation days and 5 flex days to use as needed, plus an extra week of office closure during the end-of-year holidays so you can take time off to recharge and come back better for our customers.
- Parental leave with top-up: we offer 12 weeks off with a 100% salary top-up for all full-time employees, regardless of location, and accessible for all parents: birthing, non-birthing, and adoptive.
- Hybrid/remote work: this role is primarily remote at this time but may transition to hybrid if we open a New York office. We also love collaborating and connecting in our Toronto office – you'll come to Toronto for onboarding and then twice a year for our summer and winter events (travel and accommodations are covered).
- Personal and professional growth: through ongoing feedback, mentorship, and coaching, work with peers and leaders who are invested in your growth and success.
- Top-tier equipment: as a Mac-first company, our Toronto offices have everything you need to produce your best work comfortably, from multiple screens to ergonomic seating.
- Social connection: we believe in celebrating our wins with two annual company-wide get-togethers, quarterly team events, happy hours, and special events and networking opportunities with industry leaders.
We’re driving real change for small business owners, powered by truly remarkable people. At Relay, you’ll find the confidence to take changes, trust to take initiative, and the support you need to build a career you love. Here, we make sure every team member feels empowered to make big decisions, encourage to ask tough questions, and challenged to take risks that result in work we’re all proud of. We give you the baton–you run the Relay.
The Interview Process
- Stage 1: A 30-minute Google Meet video call with a member of the Talent team
- Stage 2: A 30-minute interview with our VP of Risk
- Stage 3: A 45-minute case study presentation to our risk leadership team
- Stage 4: A 30-minute Google Meet video call with one of our executives
- Tier 1 cities: $165,000 - $195,000 USD
- Tier 2 cities: $149,000 - $172,000 USD
- Tier 3 cities: $140,000 - $155,000 USD
The compensation range for this role is as follows, based on the geographic location of the candidate:
Research shows that women-identifying and other marginalized individuals tend to only apply when they meet 100% of the qualifications; if you don't have all the listed qualifications, we encourage you to apply anyway!
What’s Important to Us:
At Relay, we believe that diversity is key to building high-performing teams, and creating an inclusive work environment is our priority. We are an equal-opportunity employer and we welcome people of diverse backgrounds, perspectives, and skills.
We will work with applicants to provide accommodations at any stage of the hiring process. If you require accommodations during the interview process, please email your People Team contact, and we will work with you to meet your needs.