Anti-Money Laundering Associate

Type: Full time

Department: Compliance

Alpaca is a fast-growing FinTech API startup backed by a group of prominent investors including Spark, Portage, Social Leverage, Tribe, Horizons, Eldridge, Positive Sum, Elefund, and Y Combinator, and highly experienced industry angel investors. Alpaca has raised a total of $70+ million to date.

Alpaca builds an API-first stock and crypto brokerage platform that developers and businesses embed investing, build apps, algorithmically trade with. Of course, we are very enthusiastic about open source contribution and community building!

Job Responsibilities:

• Partner with the Chief AML Officer, and AML Director to manage and implement the Firm’s investigative processes for CIP/KYC, AML, and Anti-Fraud programs.
• Investigate potentially suspicious fraudulent activity, as identified utilizing relevant systems and, notified/escalated to the AML team, by various facets of the firm.
• Complete and file Suspicious Activity Reports (SARs) as required and properly document SARs filed/not filed.
• Process, maintain, follow-up and timely respond to any OFAC matches and FinCEN 314(a) and 314(b) lists and inquiries.
• Maintain various risk assessment documentation for BSA/AML and OFAC.
• Assist in the annual independent AML audit and interact with regulators during regulatory examinations related to the BSA/AML and OFAC Compliance Programs.
• Respond to inquiries and/or refer inquiries to the appropriate department or person and exhibit the necessary follow-through with customers and/or staff involved.
• Maintains proficient knowledge of the rules, regulations and best practices related to Bank Secrecy, USA. PATRIOT Act, OFAC, and other regulatory laws and provides guidance as needed.
• Develops and maintains knowledge about the existing risk management framework: Management reporting; policies and procedures and limits; risk measurements, and monitoring; internal controls. Recommend and assist in implementing changes as necessary.
• Understand business and regulatory requirements and ensure functions are being performed within those requirements
• Assumes responsibility for special projects; gathers data and prepares reports for senior management, auditors and other personnel.

Required Qualifications and Experience:

• 1 – 3 years of conducting investigations into financial crime (e.g., money laundering, fraud, etc.)
• Ability to identify, escalate and communicate issues to management in an effective and succinct manner
• Effective decision making problem solving skills
• Strong knowledge of AML laws (USA Patriot Act), regulations (Fed, SEC, FINRA) and their application to the supported products/business lines
• Knowledge with case management systems
• Ability to work in an independent environment
• Good team player
• Strong interpersonal skills
• Working knowledge of Google Sheets and MS Excel, including pivot tables, macros, filtering and sorting
• Applied experience of effective internet search techniques
• Excellent writing, communication, analytical, judgement and research skills
• Knowledge of domestic and international payment systems
• Transaction Monitoring System experience
• FINRA Series 7 or ability to obtain in 6 months

Preferred Skills, Abilities and Knowledge:

• Broker dealer and MSB experience
• CAMS or equivalent (CFCS)
• CFE Certification is a plus

Must be eligible to work without sponsorship for this role.