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Park Avenue Finance ("PAF") is launching Innovation Trust Bank International Holdings, Inc. a proposed International Financial Entity ("IFE") based in Puerto Rico. The proposed IFE will offer traditional banking services to institutional investors and qualified purchasers seeking security and liquidity for their crypto-assets. PAF is seeking a Senior Compliance Officer, based in Puerto Rico, to lead its overall banking and cryptocurrency compliance efforts.
PAF is an emerging leader in financial innovation. We focus on the design, execution and protection of new financial products which unlock value by solving capital efficiency problems that result from rules-based constraints in law, accounting, regulation, tax, credit ratings and market conventions. In developing, executing and protecting these specialized, innovative products, PAF combines expertise in finance, law and technology.
The ideal candidate will have a detailed understanding of custody, fiduciary, retail trading and funding of digital assets. Proven track record in successfully navigating the digital payments regulatory and compliance landscape. Experience with cryptocurrency payments is a plus.
Lead compliance for bank products, services and commercial partnerships
Enhance and maintain the compliance framework through the development and implementation of comprehensive policies and procedures
Recruit, manage, lead and develop compliance & operational risk teams
Work with the product teams in a compliance advisory capacity
Execute compliance best practices for monitoring vendors and service providers, including due diligence and oversight
Oversee anti-money laundering (AML), BSA, Know Your Client/Customer Identification Program, MSB/Money Transmitter, financial crimes, OFAC and sanctions compliance matters
Ensure transaction monitoring for suspicious activity is conducted according to internal procedures
Provide/coordinate training for employees on AML requirements, policies and procedures
Manage & oversee regulatory examinations & internal and external audits
Creating scalable and streamlined processes, automating processes where possible
Maintain oversight of recordkeeping and record retention requirements
Manage and oversee all regulatory reporting requirements
Monitor the regulatory landscape and proactively assess impact to the bank
Act as head of Puerto Rico/U.S. policy and advocacy, initiate, plan, partner and sponsor activities to help shape industry self-regulation, rules and laws
Provide guidance on regional, federal and state banking and securities regulations and their impact on operations
Have the ability to thrive in fast-pace, evolving, and technologically driven environment
Perform necessary ad-hoc projects as required.
Bachelor's degree or higher; advanced degree in law, accounting or business preferred
5+ years of risk and compliance experience in financial institutions subject to risk, regulatory and compliance monitoring; experience in e-commerce, crypto or payments is a plus
Certified Anti-Money Laundering Specialist (CAMS) and/or Certified AML and Fraud Professional (CAFP), highly recommended
Demonstrated interest in cryptocurrency regulatory landscape and related policy
Strong interest and understanding of blockchain and the cryptocurrency industry
Ability to understand complex financial products
Interest in FinTech
Strong project management skills
Excellent analytical skills; written and verbal communication skills; and problem-solving ability.
Employer will assist with relocation costs.
Additional Salary Information: Cash compensation of $85k + remainder in company equity
About Park Avenue Finance LLC
Park Avenue Finance, LLC specializes in the design and execution of innovative, customized, private-party financial transactions and solutions with the purpose of unlocking trapped value constrained under accounting, legal, tax and regulatory factors. Each of our solutions is crafted with the utmost precision and integrity, and together with innovation and sophistication these attributes permeate our culture and business activity.
We create and capture value by acting as your partner or counterparty in bespoke, sophisticated transactions designed to achieve substantive business objectives.