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Team Lead -BSA/AML



Gurugram, Haryana, India
Posted on Saturday, April 6, 2024

We started Novo to challenge the status quo—we’re on a mission to increase the GDP of the modern entrepreneur by creating the go-to FinTech platform for small businesses (SMBs). Novo is flipping the script of the FinTech world, and we’re excited to lead the small business FinTech revolution.

We are looking for people of character. Pragmatic and capable people who want to see their work drive better outcomes for small businesses — the backbone of our economy. You will join our team and work on the building blocks of everything Novo ships.

Why Novo?

  • Novo is a rapidly growing series B fintech startup with a mission-driven team that’s passionate about helping every small business in America
  • Positive, inclusive, supportive culture cheering you on your journey
  • We work with very new technologies and architecture patterns
  • We provide learning and development budgets to help you grow and bond with your team
  • Able to work from the office 3+ days per week
  • Offices in NYC, Miami, Delaware, India, and Colombia

Small businesses are the backbone of the US economy, comprising almost half of the GDP and the private workforce. Yet, big banks don’t provide the access, assistance, and modern tools that owners need to successfully grow their business.

We started Novo to challenge the status quo—we’re on a mission to increase the GDP of the modern entrepreneur by creating the go-to banking platform for small businesses (SMBs). Novo is flipping the script of the banking world, and we’re excited to lead the small business banking revolution.

At Novo, we’re here to help entrepreneurs, freelancers, startups and SMBs achieve their financial goals by empowering them with an operating system that makes business banking as easy as iOS. We developed modern bank accounts and tools to help to save time and increase cash flow. Our unique product integrations enable easy access to tracking payments, transferring money internationally, managing business transactions, and more. We’ve made a big impact in a short amount of time, helping thousands of organizations access powerfully simple business banking.

We are looking for a Team Lead - BSA/AML who understands how to conduct AML investigations, identify unusual activity and summarize findings in a clear and concise manner. If you're passionate about identifying and inhibiting money laundering, and enabling Novo to know its customers better, then we want to chat. Are you ready to revolutionize the small business banking industry with us?

About the Role:

  • Monitor and conduct AML investigations on alerts generated by, and cases created in, Novo’s transaction monitoring system.
  • Document and report review/investigation findings and prepare case files with the required supporting documentation.
  • Writing a comprehensive analysis of the alert activity to support the decision to resolve a case or RFI with customer /escalate for further action.
  • Assist with disposing/escalating alerts and cases according to agreed-upon business Service Level Agreements (SLAs).
  • Follow-up with additional point(s) of contact as needed to obtain additional information in support of investigations.
  • Communicate with senior management on compliance, legal, and business BSA/AML issues.
  • Keep the team abreast with changes in the relevant laws, guidelines, and regulations for anti-money laundering.
  • Appropriately assess risk when business decisions are made, demonstrating consideration for Novo’s reputation and safeguarding Novo, its clients, and assets by driving compliance with applicable laws, rules, and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct, and business practices, and escalating, managing, and reporting control issues with transparency.

Requirements for the Role: (these are specific to the role-- technical skills and requirements to fulfill the job duties, certifications, years of experience, degree)

  • At least 8+ years of experience specific to Anti-Money Laundering investigations. Must have experience in observing money laundering patterns, analyzing transactions, and escalating, if necessary.
  • Understanding on complete workflows related to Transaction monitoring,Suspicious transaction Monitoring Alert fulfilling end to end Closure
  • Must have SAR/UAR filing experience
  • Vendor/Stakeholder Management
  • Creating Reports and presentations and providing updates to the leadership team
  • Being able to create anomaly dashboard and run analysis on the day-to-day trends
  • Understanding of different regulatory bodies in the financial institutions specifically related to Anti Money Laundering and Prevention of Money Laundering
  • Excellent written and verbal communication skills. Must be able to summarize complex investigations and articulate recommendations clearly and succinctly.
  • Capable of conducting open-source research and leveraging/analyzing internal data sources to conduct investigations.
  • Having an ACAMS is a plus
  • Must be organized, attentive to detail, and an excellent problem solver.
  • Must be able to effectively manage multiple tasks and sensitive information professionally in a fast-paced deadline driven environment.
  • Strong analytical skills experience in Microsoft Excel, SQL.
  • Strong leadership skills, ability to train, mentor, and guide other team members
  • Ability to comprehend and adhere to Federal and State banking regulations.

How We Define Success:

  • Efficiency - All work is completed within the agreed upon service level agreements (SLAs)
  • Quality - Investigations and investigation summaries adhere to standards established by Novo
  • Attitude - Employee goes above and beyond the minimum requirements for the role, strives to learn and improve, and serves as a resource to other team members

Nice To Have, but Not Mandatory:

  • Any FinCrime Certification

Novo values diversity as a core tenet of the work we do and the businesses we serve. We are an equal opportunity employer, indiscriminate of race, religion, ethnicity, national origin, citizenship, gender, gender identity, sexual orientation, age, veteran status, disability, genetic information or any other protected characteristic.