Job Description
The Compliance Officer is responsible for developing, implementing, and managing the company’s compliance program to ensure adherence to regulatory requirements, internal policies, and industry standards. This role involves monitoring and evaluating compliance issues, providing guidance and training to employees, and ensuring the company's operations are conducted in a legal and ethical manner.
Key Responsibilities:
Regulatory Compliance:
Ensure the company complies with all relevant regulations, including anti-money laundering (AML) laws, know your customer (KYC) requirements, and other financial regulations.
Stay updated on changes in laws and regulations affecting the money transmitter industry and advise management accordingly.
Policy Development and Implementation:
Develop, implement, and maintain compliance policies and procedures.
Conduct regular reviews and updates of compliance policies to ensure they are current and effective.
Monitoring and Auditing:
Oversee and conduct regular audits and risk assessments to identify potential compliance issues.
Monitor daily transactions for suspicious activities and ensure timely reporting of suspicious activity reports (SARs).
Training and Education:
Develop and deliver training programs for employees on compliance topics, including AML, KYC, fraud prevention, and regulatory changes.
Provide ongoing support and guidance to employees regarding compliance matters.
Reporting and Documentation:
Maintain accurate and up-to-date records of compliance activities, including audit reports, training logs, and incident reports.
Prepare and submit required regulatory reports in a timely manner.
Risk Management:
Identify and assess compliance risks within the company and develop strategies to mitigate these risks.
Work with management to establish risk tolerance levels and implement appropriate risk management practices.
Customer Due Diligence:
Oversee the KYC process to ensure all customers are properly vetted according to regulatory requirements.
Review and approve high-risk customer accounts and transactions.
Incident Management:
Investigate and respond to compliance breaches or violations.
Coordinate with legal and regulatory authorities as necessary.
Liaison with Regulatory Bodies:
Act as the primary point of contact for regulatory agencies and auditors.
Facilitate regulatory examinations and audits, ensuring the company's preparedness and responsiveness.
Qualifications:
Bachelor’s degree in Finance, Law, Business Administration, or a related field. Advanced degree (e.g., JD, MBA) preferred.
Professional certifications such as Certified Anti-Money Laundering Specialist (CAMS) or Certified Regulatory Compliance Manager (CRCM) are highly desirable.
Minimum of 5 years of experience in a compliance role within the financial services or money transmitter industry.
In-depth knowledge of AML laws, KYC requirements, and other relevant regulations.
Experience with compliance monitoring and auditing processes.
Skills and Competencies:
Strong analytical and problem-solving skills.
Excellent communication and interpersonal skills.
Attention to detail and high level of accuracy.
Ability to work independently and as part of a team.
Strong organizational and time management skills.
Proficiency in compliance software and Microsoft Office applications.
Working Conditions:
Full-time position.
Occasional travel may be required for training, audits, or regulatory meetings.
Application Process:
Company Description
OA Global Payments (OAGP) is a financial technology company that offers payment services to clients who wish to remit funds to their business partners, families and loved ones. The company was started by an entrepreneur who identified a gap in the global money transfer system and seeks to bridge that gap by providing a fast and more efficient transfer system for clients and businesses at a much lower fee than traditional institutions. The team identified this gap when customers transferred money internationally, banks and brokers often hide the true cost in the exchange rate, so customers end up paying more in fees than was originally advertised.
OA Global Payments will operate in the United States remittance (money transfer) market, which is regulated by the Financial Crimes Enforcement Network (FinCen) under the Bank Secrecy Act; Money Laundering Act. The company will also adhere to US Patriots Act and associated subsequent guidance. The company has an agile management system that allows the team to adopt to any given situation. At OAGP, we blend our knowledge in the money market and its associated risks. Our service will be secured, whilst customers’ data and information will also be secured and protected.
Strictly
OA Global Payments (OAGP) is a financial technology company that offers payment services to clients who wish to remit funds to their business partners, families and loved ones. The company was started by an entrepreneur who identified a gap in the global money transfer system and seeks to bridge that gap by providing a fast and more efficient transfer system for clients and businesses at a much lower fee than traditional institutions. The team identified this gap when customers transferred money internationally, banks and brokers often hide the true cost in the exchange rate, so customers end up paying more in fees than was originally advertised.\r\n\r\nOA Global Payments will operate in the United States remittance (money transfer) market, which is regulated by the Financial Crimes Enforcement Network (FinCen) under the Bank Secrecy Act; Money Laundering Act. The company will also adhere to US Patriots Act and associated subsequent guidance. The company has an agile management system that allows the team to adopt to any given situation. At OAGP, we blend our knowledge in the money market and its associated risks. Our service will be secured, whilst customers’ data and information will also be secured and protected.\r\nStrictly