Fintech Risk Associate

This is a fully remote position, open to applicants in New York.

📋 Description

• Execute second-line risk-management tasks autonomously within the Bank’s Banking-as-a-Service portfolio.

• Spearhead risk-based due diligence for potential fintech partners and present insights and recommendations to senior management.

• Oversee pre- and post-launch risk and compliance criteria to ensure readiness for launch.

• Perform continuous monitoring, testing, quality assurance, and risk evaluations for designated partners.

• Document findings and remediation plans to resolution, identify emerging risks, and escalate significant issues when necessary.

• Enhance due diligence, monitoring, testing, and assessment methodologies and templates.

• Act as the main risk and compliance liaison for assigned fintech partners.

• Cultivate an understanding of partners’ business models, products, customer journeys, technologies, operations, controls, and risk profiles.

• Assess proposed products, features, customer journeys, and partnership frameworks for risk, compliance, control, and operational factors.

• Collaborate with BSA, Embedded Finance, Operations, Product, Legal, Information Security, Compliance, Technology, and various other teams.

• Lead cross-functional projects from scope definition through to implementation.

• Maintain roadmaps for control deficiencies and process enhancements, contributing to policies, procedures, reporting, dashboards, presentations, and governance documents.

• Stay updated on trends in fintech, payments, lending, and regulation, evaluating their implications for the BaaS portfolio.

⛳️ Requirements

• Typically possess 5–8 years of experience in banking, fintech, risk management, compliance, third-party risk management, internal audit, or a related discipline.

• Proven ability to independently conduct risk assessments, due diligence, monitoring, testing, issue management, or remediation efforts.

• Extensive experience with financial crimes compliance, including BSA/AML, OFAC watchlists and sanctions, and fraud risk management.

• Familiarity with banking and payments compliance regulations, including UDAAP, NACHA, Visa/Mastercard, FedNow, The Clearing House RTP, Reg E, Reg Z, Reg DD, Reg CC, ECOA, FCRA, GLBA, and relevant state data privacy laws.

• Experience in Third-Party Risk Management and awareness of related interagency guidance from the OCC, FDIC, and Federal Reserve.

• Knowledge of fintech, payments, embedded finance, BaaS, or lending business models is essential.

• Experience with Lending-as-a-Service, fintech lending, loan products, or lending-partner risk management is an advantage.

• Capable of managing external relationships, addressing partner requests, communicating with senior stakeholders, and influencing without direct authority.

• Strong project-management, analytical, problem-solving, decision-making, risk-escalation, and reporting capabilities.

• Experience in reviewing or creating risk assessment, monitoring, testing, and reporting templates and processes.

• Excellent judgment, attention to detail, collaboration, creativity, and ability to manage competing priorities.

• Bachelor’s degree or equivalent relevant professional experience.

🏝️ Benefits

• Flexibility to work remotely.

• Varied perspectives and diverse thoughts.

• Culture of cross-functional teamwork.

• Opportunities to participate in banking innovation.

• Growth and development prospects through collaboration.

• An inclusive partnership culture.