BSA Manager

About Novo

Novo is dedicated to empowering small businesses, the driving force of the US economy, by providing them with the banking access, support, and modern tools they need to thrive. We are challenging the traditional banking sector with a mission to boost the GDP of modern entrepreneurs through a premier banking platform for SMBs. Novo is revolutionizing business banking by offering an operating system that simplifies financial management, akin to iOS for business. Our innovative accounts and tools are designed to save time and enhance cash flow, with unique integrations for seamless payment tracking, international money transfers, and transaction management. We have already made a significant impact, assisting numerous organizations with powerful yet straightforward business banking solutions.

Novo is a fast-paced Series B fintech startup with a mission-focused team committed to supporting every small business in America. We foster a positive, inclusive, and supportive culture that celebrates individual growth. Our work involves cutting-edge technologies and architectural patterns, and we provide learning and development budgets to support your professional advancement and team bonding. We have offices located in NYC and India.

Role Summary

We are seeking a BSA Manager to join our Compliance team and contribute to shaping the future of business banking. In this role, you will collaborate closely with Novo’s BSA Officer and the wider risk and compliance departments to enhance and optimize Novo’s BSA/AML & Sanctions compliance program. Your primary objective will be to ensure adherence to financial crime regulatory requirements and industry best practices.

About The Role

• Assist the BSA Officer in the implementation of all facets of Novo’s BSA Program, with a focus on driving automation and process improvements across risk and compliance functions.
• Provide oversight and support to Novo’s risk and compliance operations teams, offering guidance on escalations and ensuring the quality of compliance reviews across various functions.
• Compile essential metrics, qualitative data, and in-depth analysis to assess the impact on Novo’s BSA compliance program.
• Conduct complex investigations to identify significant money laundering and fraud risks targeting Novo’s platform.
• Ensure the timely escalation and reporting of any suspicious activity to Novo’s banking partners.
• Support the BSA Officer in executing risk assessments, evaluating the efficacy of current controls, and pinpointing areas for enhancement.
• Develop and deliver comprehensive BSA/AML training programs for both Novo’s risk operations staff and the wider organization.

Requirements For The Role

• Possess 2-4 years of experience in an AML/Sanctions role within a financial institution or banking platform.
• Demonstrate a strong understanding of the Bank Secrecy Act, USA PATRIOT Act, FinCEN Guidelines, and other pertinent BSA/AML/OFAC regulations.
• Have prior experience leading a team of compliance professionals or providing significant oversight to compliance operations functions, such as transaction monitoring, KYC, sanctions, and/or periodic reviews.
• Exhibit self-starter qualities with robust analytical, problem-solving, and organizational abilities.
• Possess an entrepreneurial mindset and experience in, or the capacity to adapt to, a rapidly expanding startup environment characterized by complexity and ambiguity.

Additional Information

Novo is committed to diversity as a fundamental principle in our work and in serving our clients. We are an equal opportunity employer and do not discriminate based on race, religion, ethnicity, national origin, citizenship, gender, gender identity, sexual orientation, age, veteran status, disability, genetic information, or any other protected characteristic.