Job Description

We are Bright:- Bright is a consumer fintech that helps Americans get out of debt, with the power of data science and machine learning. It is a mobile app that combines all the tools and tech needed to manage and get rid of debt. Bright\'s tools include credit score building, automated debt paydown plans, financial planning, budget planning tools, and refinance loans. It works with credit cards, student loans and car loans. Bright has had 6x growth in the last year, with 300,000 users, and more than 100,000 ratings and reviews. Bright is backed by three major venture capital funds (Sequoia, Falcon Edge and Hummingbird) and with top angel investors from the US, UK and India, Bright has raised +$40 million in funding to date. Bright has recently raised $50M in debt funding from Encina Lender Finance, for its credit business growth. Encina Lender Finance provides lending solutions to consumer and commercial speciality finance companies across the U.S. and Canada. Today we are among the top 8 US FinTech companies. We will become a top-100 US financial institution, with the unique strength of data science and predictive modelling to enhance financial products for a user\'s life outcomes. We will be the first at-scale Consumer Tech company, built in India for Global markets. About Our Founders:- Bright was founded in 2019 by a founding team from McKinsey\'s Banking Practice (Petko Plachkov and Avi Patchava) and InMobi Data Scientist (Avi Patchava, Varun Modi, Avinash Ramakath, Jayashree Merwade) Roles and Responsibilities:- 1. Compliance Oversight: - Develop, implement, and maintain a comprehensive BSA/AML compliance program that is tailored to the specific needs and risks of the fintech environment. - Ensure that the company is in compliance with all applicable federal and state BSA/AML laws, regulations, and guidelines. 2. Risk Assessment and Management: - Conduct ongoing risk assessments to identify potential money laundering and fraudulent activities. - Develop and maintain a risk-based approach to monitor customer activities and transactions. 3. Policies and Procedures Development: - Design, implement, and update policies, procedures, and internal controls to detect and prevent money laundering and other illicit financial activities. - Ensure that the policies are in alignment with the regulatory requirements and industry best practices. 4. Training and Education: - Organize and provide ongoing training to employees on BSA/AML compliance requirements and internal procedures. - Develop training materials and maintain records of training sessions. 5. Monitoring and Reporting: - Monitor customer transactions to identify suspicious activities and conduct necessary investigations. - Prepare and file required regulatory reports, including Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs), as needed. 6. Internal Auditing: - Conduct regular internal audits to assess the effectiveness of the BSA/AML compliance program. - Work with external auditors and regulatory authorities during their examinations and provide necessary information and support. 7. Vendor Management: - Assess and oversee third-party service providers to ensure that they comply with the company\'s BSA/AML policies and procedures. 8. Management Reporting: - Provide regular updates to senior management and the board of directors on the status of the BSA/AML compliance program and any significant issues or risks. - Participate in various committees and provide expert guidance on BSA/AML matters. 9. Record Keeping: - Maintain all necessary documentation related to BSA/AML compliance, including risk assessments, policies, procedures, training records, and filed reports. 10. Stakeholder Engagement: - Collaborate with various departments, including legal, operations, and technology, to ensure a coordinated approach to BSA/AML compliance. - Liaise with regulatory authorities and law enforcement agencies as required. Qualifications:- The BSA/AML Officer must typically have relevant experience in financial services, legal, or regulatory compliance. They should have a deep understanding of BSA/AML laws and regulations, strong analytical skills, and excellent communication abilities. Professional certifications such as CAMS (Certified Anti-Money Laundering Specialist) may also be required or preferred. Conclusion:- The role of a BSA/AML Officer in a fintech company is complex and multifaceted, requiring constant vigilance and an adaptable approach to ensure that the organization remains in full compliance with all relevant regulations. This person will play a vital role in protecting the company\'s integrity and reputation by preventing money laundering and other illicit financial activities.

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