Sanctions Compliance Officer, NoviNovi Financial | Menlo Park, CA - Remote, US
About NoviIn June 2019, the Diem Association announced plans for Diem – a new global cryptocurrency that runs on the Diem network. Diem's mission is to create a simple global financial infrastructure that empowers billions of people around the world. It's powered by blockchain technology and the plan is to launch it in 2021.
Novi is a newly formed Facebook subsidiary whose goal is to provide financial services that will enable people to access and participate in the Diem network. Our first product will be a digital wallet for Diem, a new global currency powered by blockchain technology, and it will be available in 2020 as a standalone app. Our vision is to reinvent money and transform the global economy so people everywhere can live better lives. Novi will let you send Diem to almost anyone with a smartphone, as easily and instantly as you might send a text message or photo, and at low to no cost. And, in time, we plan to offer additional services for people and businesses, such as paying bills with the push of a button, buying a cup of coffee with the scan of a code, or riding your local public transit without needing to carry cash or a metro pass.
We’re still early in the process of developing Novi, and are looking for talented, passionate, mission-driven people to join our team so we can build a future together that empowers billions of people around the world.
Our team is looking for an individual to help design and implement an industry setting global Sanctions Compliance program. You will work with the Sanctions Lead to identify and analyze our regulatory requirements and review/update policies, procedures, and controls to ensure Novi is fully compliant with all Sanctions requirements. You will coordinate with our Sanctions Legal, Policy and other cross-functional teams to ensure a holistic approach to these requirements. You will work closely with our Compliance Operations team to design and implement operational procedures and processes and be the main point of contact for any escalations from Operations. You will review and produce documentation to present to governmental and supervisory authorities, as well as other business partner organizations and internal audit functions. You will oversee and manage various projects, and escalate any roadblocks, timely, for prompt resolution.
- Assist in execution of our global Sanctions Compliance Program, including integration with Facebook systems and processes and the implementation of risk-based controls
- Coordinate on multiple projects with key cross-functional teams (e.g. Engineering, Product, Operations, Data Analytics) to ensure effective implementation of program controls and provide guidance to all business partners and stakeholders
- Provide advice regarding the design of our global operational processes, and work with Compliance Operations to design and implement risk-based processes
- Handle and review escalations from Compliance Operations on all sanctions alerts and coordinate with Facebook Legal Counsel on all reporting obligations and ensure reports are filed within the necessary timeframes
- Manage internal and external stakeholders (including regulators) in relation to audits, inspections, and examinations, by preparing/reviewing deliverables in a timely manner. Coordinate the drafting and creation of any remediation plans and track gaps to completion
- Monitor regulatory and industry developments within the broader compliance and blockchain space and ensure changes are properly implemented
- Review testing scripts for User Acceptance Testing and provide subject matter expertise for the implementation of various risk based controls
- Minimum 5 years of experience in Sanctions financial crimes compliance and regulations
- Bachelors degree or equivalent experience in Compliance
- Knowledge of Sanctions Compliance and other related financial regulations globally
- Experience in building relationships with regulators, including explaining details of Sanctions Compliance
- Experience as a Subject Matter Expert in designing Sanctions programs, creating business requirements, advising in the creation of technical specifications, working with Product/Engineering/Data Science in building end-to-end systems, and performing monitoring and adjustments as needed
- Knowledge of risk management within a highly regulated Financial Services industry
- Experience implementing regulatory and other policy requirements
- Experience working hands-on with cross-functional teams, such as counsel, engineers, product managers, data analysts, operations analysts in building compliance processes and systems
- Experience in the blockchain and financial services environments
- Experience in a mix of government/regulatory, and financial services/technology industries