About our Company:
LemFi (YC S21, Series B) is revolutionizing cross-border financial services for immigrants through its multi-currency platform, processing over $1 billion in monthly transactions. We provide instant remittances, foreign exchange services, and multi-currency accounts, all in one seamless experience. With 300+ employees across 15+ countries, we’ve secured our Series B funding from top investors like Highland Europe, Left Lane Capital, and Y Combinator.
Our vision:
To build the first full-stack financial services hub for the world’s immigrant population. 🚀
Who you are:
You are a candidate who would thrive in a fintech startup environment like ours, where we readily accept individuals with a humble, yet uplifting attitude alongside a diligent sense of work ethic. The teams here at LemFi ore passionate about their work and fields of expertise, but also lend hands on cross—functional responsibilities to ensure the success of the company and the satisfaction of our clientele.
Job Summary:
The Compliance Testing Manager role at LemFi will be responsible for developing and overseeing a comprehensive global compliance testing program to assess the effectiveness of AML, CTF, sanctions, and consumer compliance controls across the US, UK, Canada, and other jurisdictions. This role involves designing and executing regular control testing, leading the model validation program, and ensuring proper documentation and follow-up on identified issues. The manager will support audit project management efforts, collaborate closely with key stakeholders to implement corrective actions, and report findings to the Board of Directors.
Additionally, they will lead the Quality Assurance team by setting KPIs and driving performance evaluations to maintain high standards across all compliance functions.
Responsibilities are as follows:
- Develop and maintain a global compliance testing program with appropriate testing scopes to test the effectiveness and regulatory compliance of AML, CTF, sanctions, and consumer compliance programs (including Gramm-Leach-Bliley Act) for LemFi in the United States, United Kingdom, Canada, and other global jurisdictions;
- Conduct regular testing on compliance processes and controls in accordance with an annual testing schedule;
- Build and oversee the model validation program and control testing for the purpose of validating that processes and controls are designed effectively to sufficiently mitigate the risk of relevant regulatory requirements and are operating as intended;
- Adequately document the evaluation of the effectiveness of the internal controls;
- Follow up with key stakeholders on compliance issues identified during testing, and ensure corrective action plans are properly conducted in a timely, acceptable manner to comply with company policies or relevant regulatory requirements;
- Assist Compliance Officers with the project management function pertaining to all Compliance audits – including independent, state, and federal regulatory audits – and ensuring audits progress in a timely manner with key stakeholders;
- Report testing program, results, and any corrective actions regularly to the Board of Directors;Manage and lead the Quality Assurance team unit, including setting KPIs and conducting performance reviews.
Requirements:
- Total of 6 years of experience in AML and sanctions compliance
- Minimum of 3 years in a Manager-level compliance testing role
- Advanced knowledge of, at minimum, US BSA/AML, CTF, and sanctions regulations, particularly as it pertains to banks and MSBs
- Direct experience with developing and managing BSA/AML, CTF, and sanctions testing programs
- Demonstrated knowledge of US consumer compliance regulations and testing standards
- Prior direct experience managing a team of compliance staff
Candidate Qualities:
- Flexibility: Willingness to explore different and various ways of doing things, including the opportunity to modify one’s preferred way of doing things.
- Critical Thinking: Clearly defining and understanding the issues, and solving them through a logical approach with data, facts, and observations.
