Role

As a multinational financial institution, AFEX is subject to regulatory oversight in jurisdictions throughout the world. A critical component of such oversight is the issuance of a license to carry out regulated financial services.

The Compliance Associate will work under minimum supervision to maintain and, where necessary, acquire financial services licenses. In doing so, the individual will demonstrate the ability to monitor, research, analyze, and address complex regulatory reporting requirements associated with AFEX’s provision of global payment services and risk management solutions. The candidate must exercise good judgment in identifying issues and, more importantly, driving resolution. In accordance with internal procedures and applicable regulations, the Licensing and Reporting Associate will take proactive measures to prevent financial penalties as well as mitigate reputational risk through any of the following: (1) monitoring existing and/or proposed applicable laws and regulation; (2) staying abreast of various internal initiatives and potential changes to operations; and (3) properly reporting business activity.

In executing their duties, the Compliance Associate shall serve as a brand ambassador for AFEX and act in a way that promotes AFEX’s corporate vision: To serve as a trusted business partner. All actions and interactions both internally and externally should be executed to underpin and uphold the AFEX core values:

• Trust: Our aim is to build a long-term relationship, becoming your trusted partner. We earn trust by delivering on our commitments and putting the needs of our customers and colleagues first.
• Expertise: We strive to be the best in our field; through our dedication to continually learn and excel, we’ll deliver strategically adept solutions that work for you.
• Value: We constantly challenge ourselves to find the best ways to deliver value to our clients and each other, providing personalized services that enhance our customer’s business.

Responsibilities

• Collaborate with global and regional compliance teams to ensure appropriate implementation of licensing and reporting strategies;
• Serve as a subject matter expert on the acquisition and maintenance of financial services licenses, registrations and/or permissions;
• Prepare periodic regulatory reports in accordance with requirements established by legislation and regulation. This includes, but is not limited to, reports that detail financial information, permissible investment coverage, and transactional activity;
• Organize and participate in examinations conducted by various regulatory authorities. Communicate examination findings to key stakeholders and, where necessary, ensure remediation efforts are completed in a timely manner;
• Represent AFEX in correspondence with various global regulatory authorities;
• Monitor changes in applicable industry regulations and modify policies and procedures as necessary by interfacing with functional areas to develop and implement scalable compliance systems and controls;
• Respond to routine requests from regulatory bodies and other third party stakeholders;
• Maintain policy and procedure documentation that governs the upkeep of licenses and registrations, and preparation of periodic reports and renewal applications;
• Gather and analyze data in order to develop succinct responses to periodic questionnaires provided by banking partners and other service providers integral to AFEX’s provision of payment services and risk management solutions;
• Perform research assignments on topic(s) necessary to support identified company compliance needs;
• Carry out adhoc directives from the Global Regulatory Affairs Manager; and
• Play a critical role in the successful execution of the Company's compliance mission.

Qualifications and Experience

• Bachelor’s degree or equivalent practical experience;
• Master of time management, consistently sustaining high levels of productivity and quality in a fast-paced and high-volume environment;
• Self-starter with a “can-do” attitude that is eager to learn complex subject matter;
• Familiarity with the Nationwide Multistate Licensing System (NMLS) and the maintenance of state money transmitter licenses

Preferred;

• Strong data analytics skills and advanced proficiency in Microsoft Excel, with demonstrated ability to create formulas, utilize PivotTables and lookups, and efficiently present and interpret data; Basic understanding of financial statements and general accounting principles;
• Advanced written and verbal communication skills;
• Strong attention to detail and the ability to focus on the nuts-and-bolts of complex work;
• Strong relationship building, networking, and interpersonal skills required;
• Work autonomously and use initiative to suggest and, if necessary, implement process improvements;
• Clearly document and support judgments, decisions and rationale, which will necessitate strong writing skills and the ability to maintain files and records in accordance with department standards;
• Demonstrate sound judgment and decision making in the context of regulatory requirements, company policies, and industry best practices;
• Strong organization and prioritization skills with the ability to quickly react to ever changing business needs; and
• Operate in a high stress regulatory environment, with constantly changing expectations and close regulatory and audit scrutiny.

Global Payment and Risk Management Specialist