Head of Risk and Compliance - U.S.

Role Purpose 

The Head of Risk and Compliance (HRC) in the U.S. is responsible for the Risk and Compliance framework for the Company, is independent from the first line of defense,  and is accountable for the design, maintenance, and performance of effective ongoing second line of defense compliance controls and follow-up on findings within the anti-money laundering and counter-terrorist financing (“AML/CTF”)/BSA/OFAC area. The US Head of Risk & Compliance will also be the Money Laundering Reporting Officer for the US.

The Money Laundering Reporting Officer (MLRO) is responsible for ensuring that suspicious activities and transactions (“SARs/STRs”) are reported to the local Financial Intelligence Centre (“FIC”) as soon as reasonably practicable. The HRC/MLRO also maintains the overall responsibility role designated under applicable U.S. Laws and Regulations in addition to developing and implementing a robust risk management framework for the Company.  

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Who we are

Chipper Cash was founded in 2018 by Ham Serunjogi and Maijid Moujaled, with the aim to “chip away” at the problem of inaccessible financial services, a high population of underbanked consumers, reliance on cash for daily commerce and the difficulty of cross-border transactions. Today, Chipper Cash is connecting more than three million people in Africa, one transaction at a time with an easy-to-use mobile app that makes money transfers fast, secure and free. Whether it’s sending money home to support your family, running a cross-border business or paying local expenses, Chipper Cash saves time, saves money, and opens up new opportunities for Africans everywhere. 

With plans for rapid expansion, the Chipper Cash mobile app is currently available to consumers and businesses in eight countries, including Ghana, Kenya, Rwanda, Tanzania, Uganda, Nigeria, South Africa and the UK. Headquartered in San Francisco, California with offices across the globe, Chipper Cash delivers fair financial services that make the lives of millions of Africans better in a small way, every day. Chipper’s mission is to unlock global opportunities and bring Africa together, one transaction at a time. Come join us.  For more information, please visit our website: www.chippercash.com  

What’s in It for You? 

Your multi-faceted role will assist in the process of leading all US compliance related activities including managing relationships with partner banks and other strategic players in the payments space we work with, being our lead regulatory interface and managing state by state licensing efforts.  It will require a unique combination of a strong regulatory background, ability to be a flexible, strategic thinker, strong communication skills and a desire to make the world a better place. 

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Compliance/MLRO Responsibilities

More specifically, the MLRO has the following responsibilities:

• Monitor and regularly assess that the Company complies with applicable external AML/CTF legislation and other regulations and guidelines issued by competent authorities, as well as the Company’s AML/CTF Policies and Framework.
• Control and regularly assess whether the AML/CTF Framework to prevent the Company being used for money laundering or terrorism financing (“ML/TF”) is appropriate and adequately implemented within the Company.
• Ensure the provision of information to Regulators or Partners in relation to financial crime activity.
• Development, revision, implementation, and enforcement of various aspects of the organization’s BSA/AML compliance program for the satisfaction of OFAC, USA PATRIOT ACT, and FinCEN regulations.
• Identify, document and report compliance weaknesses through prompt alerting Management to take corrective action.
• Partner with stakeholders, as necessary, in researching financial crimes and fraud investigations to ensure compliance with applicable state and federal regulations and contractual obligations.
• Assist in developing and improving investigations-related procedures, desktop aids, and guidance material.
• Responsible for performing reviews on U.S. investigations involving SAR recommendations to determine whether cases contain suspicious activity and require reporting a SAR.
• Ensure timely submission of Suspicious Activity Reports to Financial Crimes Enforcement Network (FinCEN) and verify accurate monitoring and tracking of SAR portfolio.
• Conduct Quality Assurance (QA) on cases, including SAR filings.
• Respond to external requests for information such as, 314(a) requests from FinCEN and Law Enforcement requests for supporting documentation, in line with policies and procedures; complete case investigations generated from these requests as appropriate.
• Manage U.S. banking relationships as it relates to UARs (Unusual Activity Referrals). 
• Assist with compliance audits and regulatory examinations.
• Provide guidance on policy and procedures to various stakeholders.
• Maintain strict confidentiality over customer information.

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Risk Management Responsibilities

• Ensure the implementation of the Company’s risk management framework by maintaining the country risk registers, and conducting periodic risk assessments (some of which are listed below), among other risk management duties as may be assigned by line management.
• Conduct the Annual AML risk assessment in line with the local regulatory requirements and participate in the Company-wide Risk Control Self Assessments (RCSA) as and when it is done for the global operations.
• Carry out the product, and market/business risk assessment for existing and new product offerings in the local markets at least before launch and on an annual basis for existing products.
• Coordinate the carrying out of the required thematic risk assessments in the local jurisdictions including but not limited to Consumer Protection Risk Assessment, Data Protection Impact Assessments (DPIA), among others.
• In conjunction with the Global Head of Governance, Risk, and Compliance, review and update the Company policies, procedures, Key Risk Indicators (KRIs), and Risk Appetite Statement.

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Other  Responsibilities

• Perform independent testing of processes related to Consumer Protection, Data Protection, and Financial Crime or its equivalent in the local jurisdiction.

• Prepare the Management Information (MI) dashboards to be presented to the Board of Directors and Management Committees.
• Take reasonable steps to maintain adequate Company arrangements for training on regulatory requirements across all areas of compliance.
• Provide recommendations to representatives of relevant functions within the Chipper Cash Group based on observations made in local jurisdictions.
• Perform any other duties as may be assigned.

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Qualifications 

• You possess a minimum of 5+ years of experience in financial services related  role(s), with experience in several financial crimes underlying disciplines  (AML/CFT, sanctions, fraud, investigations, transaction monitoring, client due  diligence, agent due diligence). Candidates with less financial services  experience may be considered in a relevant discipline. 
• You have a minimum of bachelor’s degree, advanced degree preferred, and  if you also have certification(s) from professional bodies relevant to the financial  services sector that’s a plus. 
• You have demonstrated subject matter expertise (mobile banking/mobile  payments/prepaid cards/ Cross Border payments). 
• Knowledge of AML/CFT, sanctions, and fraud laws, rules, regulations, risks, and  typologies. 
• Supervisory experience in an investigative, financial crimes unit, or related  control area. 
• You gained experience operating effectively across globally dispersed teams. 
• You have demonstrated experience to independently manage, organize and  prioritize multiple tasks, projects, responsibilities, and competing priorities for  yourself and the team. 
• You possess excellent written, verbal English communication and analytical  skills, with the ability to articulate ideas to a diverse audience. 
• It is a plus if you have experience working in Fintech and liaising with regulators and internal audit staff,  such as examinations, audit and reviews, document production, and issue  responses. 
• Be a self-driven, self-starter. We’re a dedicated, hardworking team collectively motivated by our mission and vision. 
• Have a global mindset. Even at our small size, we have a team that represents  10+ countries, and our global footprint of customers will continue to grow.

Next Steps

If you feel you are a fit, please send in your application to careers@chippercash.com.  It means a lot to us that you have taken the time to read through our job description so thank you for your time.  We wish you all the best in your job search. 

We hire candidates of any race, color, ancestry, religion, sex, national origin, sexual orientation, gender identity, age, marital or family status, disability, Veteran status, and any other status. Chipper Cash is proud to be an Equal Opportunity Employer and will consider qualified applicants with criminal histories in a manner consistent with the San Francisco Fair Chance Ordinance. If you have a disability or special need that requires accommodation, please let us know. 

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