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Silicon Valley Bank · 21 hours ago

SVB: Crypto Payments Enhanced Due Diligence Associate

Phoenix, AZ

Full-time

Hybrid

Mid, Senior Level

$89K/yr - $120K/yr

4+ years exp

Silicon Valley Bank is a large financial institution seeking a Cryptocurrency Enhanced Due Diligence Associate to join their EDD KYC team. The role involves conducting enhanced due diligence on high-risk clients in the crypto ecosystem, ensuring compliance with regulatory requirements and internal policies, and serving as a subject matter expert on cryptocurrency compliance.

BankingFinanceFinancial Services

Comp. & Benefits

H1B Sponsor Likely

Responsibilities

Enhanced Due Diligence Reviews: Perform thorough EDD reviews on new and existing clients engaged in the broader Crypto ecosystem, ensuring compliance with regulatory requirements and internal policies. Conduct in-depth analysis of client profiles, business activities and ownership structures to assess money laundering, terrorist financing and other financial crime risks. Review and verify client documentation including identification documents, business licenses, financial statements, and transaction records to ensure accuracy and completeness of KYC information. Assist clients and prospects in establishing the proper control environment to ensure compliance with the Bank’s requirements

Regulatory Compliance: Serve as subject matter expert and ensure compliance with regulatory requirements, industry standards and best practices related to EDD, KYC, BSA, Sanctions and AML regulations surrounding the Crypto ecosystem. Document and maintain accurate records of due diligence reviews, including findings, decisions, and supporting documentation in accordance with internal policies and regulatory standards

Subject Matter Expert: Serves as a SME on high-risk, complex, and crypto reviews as primary Point of Contact for Commercial Bank Relationship and aid in identification of prospects & existing clients that may have increased AML risk due to business model; assisting the clients/prospects to ensure compliance with FCB’s high-risk requirements; championing efforts identifying and managing existing and emerging risks identified through reviews, and ensuring these risks are effectively assessed, communicated, and controlled. Partner with Compliance, Internal Audit, and other departments to respond to examinations and audit requests, manage execution and implementation of action plans, and ensure all processes and changes implemented fully comply with applicable regulations and legislation, standards, policies, and guidelines

Risk Analysis: Lead and champion efforts on identifying and managing existing and emerging risks identified through reviews, and ensuring these risks are effectively assessed, communicated, and controlled. Conduct assessments and profiling of clients based on their risk factors including business type, transaction volume and geographical location. Analyze client transactions and account activity to identify red flags indicative of potential financial crimes or higher risk activities. Identify and communicates opportunities to automate/streamline quality and compliance efforts

Reporting & Training: Develop and report risk tolerance metrics and provide ongoing reporting on high-risk sector pipeline to senior management. Communicate effectively with internal stakeholders, relationship managers and business units to address queries and resolve issues related to EDD. Provide expertise in assessing prelaunch or emerging business models to align with internal requirements for EDD and approval. Collaborate with cross-functional teams to share insights, provide support, training and guidance on policies, procedures, and best practices, promoting a culture of compliance

Qualification

KYC ComplianceAnti-Money LaunderingCryptocurrency KnowledgeBlockchain TechnologyRisk AnalysisRegulatory ComplianceACAMS CertificationAnalytical SkillsMicrosoft OfficeCommunication SkillsProject Management

Required

Bachelor's Degree with a minimum of 4 year of experience conducting enhanced due diligence reviews on crypto/payments entities at payment processors, money service businesses or banks, OR High School Diploma or GED with a minimum of 8 years of experience

Preferred

KYC Compliance at a Large Financial Institution or Crypto MSB/VASP

BA, Finance, Economics, Legal, or Criminal Justice

License/Certification: Association of Certified Anti-Money Laundering Specialist (ACAMS), Certified Cryptoasset AFC Specialist (CCAS), or Certified Fraud Examiner

Exhibit a comprehensive understanding of blockchain technology, demonstrating an understanding of its core principles and diverse applications

Demonstrate strong understanding of Anti-Money Laundering risk related to cryptocurrency, payments and FinTech business models

Demonstrate knowledge of international and regional financial crimes risks, to include but not limited to Anti-Money Laundering, Counter Terrorism Financing risks, fraud, and the prevention and mitigation processes and controls

Understanding of the compliance and regulatory frameworks that apply to financial institutions with an emphasis on FinCEN regulations, FFIEC guidelines, Bank Secrecy Act and US PATRIOT ACT

Ability to assess compliance programs, processes, controls

Ability to work collaboratively with peers and leaders to attain common goals

Ability to communicate effectively both in writing and orally, in person and by telephone, with all levels of the organization and with bank clients

Ability to work independently, take initiative and have strong verbal and written communication skills

Good analytical, research, organizational, and project management skills

Flexibility in learning new topics, handling change and deadlines to address newly identified risks or process changes

Strong understanding of requisite Microsoft Office applications and ability to learn new internal systems quickly

Benefits

Variable incentives

Bonuses

Benefits

Other awards as outlined in the offer of employment

Company

Silicon Valley Bank

Glassdoor4.2

Silicon Valley Bank offers business banking, lending, payments, venture debt, liquidity management, and global fund banking sloutions.

Founded in 1983

Santa Clara, California, USA

5001-10000 employees

https://www.svb.com

H1B Sponsorship

Silicon Valley Bank has a track record of offering H1B sponsorships. Please note that this does not guarantee sponsorship for this specific role. Below presents additional info for your reference. (Data Powered by US Department of Labor)

Distribution of Different Job Fields Receiving Sponsorship

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Trends of Total Sponsorships

2023 (42)

2022 (126)

2021 (138)

2020 (98)