Head of 1LOD Client Due Diligence

About the Role:

We are seeking a highly motivated and experienced leader to join our growing team as the Head of First Line Commercial Client Due Diligence. This critical role will be responsible for building and managing the team that performs the first line of defense due diligence for all new and existing commercial clients. This individual will play a vital part in safeguarding the company from financial crime and regulatory risks associated with our diverse and global client base.

Responsibilities:

• Leadership & Management:
• Build, lead, mentor, and develop a high-performing team 
• Establish and maintain a strong team culture focused on accuracy, efficiency, and continuous improvement.
• Develop and implement training programs to enhance the team's knowledge and skills.
• Set clear performance goals and conduct regular performance reviews.
• Manage workflow and resource allocation to ensure timely and efficient completion of due diligence tasks.
• Due Diligence Expertise:
• Develop, implement, and maintain comprehensive policies, procedures, and processes for commercial client due diligence, aligned with industry best practices and regulatory requirements (e.g., BSA/AML, KYC, etc.).
• Oversee the execution of thorough due diligence on new and existing commercial clients, including:
• Know Your Business (KYB) checks: Verify business registration, ownership structure, beneficial owners, and business activities.
• Negative News Screening: Identify any adverse media or regulatory actions related to the client or its key stakeholders.
• Risk Assessment & Rating: Develop and maintain a risk-rating methodology for commercial clients based on factors such as industry, jurisdiction, products/services, and transaction volumes.
• Enhanced Due Diligence (EDD): Conduct in-depth investigations on higher-risk clients, as required.
• Sanctions and PEPs Screening Conduct screening of clients against various lists.
• Stay abreast of evolving regulatory requirements, emerging risks, and industry best practices related to commercial client due diligence, particularly within the FinTech and payments landscape.
• Provide subject matter expertise to internal stakeholders on complex due diligence matters.
• Risk Management & Compliance:
• Ensure all due diligence activities comply with applicable US and relevant international regulations.
• Identify and escalate potential financial crime risks and suspicious activity to the appropriate internal teams (e.g., Compliance, Legal).
• Work closely with the Compliance team to ensure alignment of first-line due diligence processes with overall compliance strategy.
• Develop key metrics and reporting for Committees
• Assist with internal and external audits, regulatory examinations, and other compliance-related activities.
• Process Improvement & Technology:
• Identify opportunities to streamline and automate due diligence processes, leveraging technology solutions where appropriate.
• Evaluate and recommend new tools and technologies to enhance the efficiency and effectiveness of the due diligence function.

Qualifications:

• Bachelor's degree in Business Administration, Finance, Law, or a related field; advanced degree (e.g., MBA, JD) preferred.
• Minimum of 7+ years of experience in financial services, with a focus on commercial client due diligence, risk management, or compliance.
• Minimum of 3+ years of experience in a managerial or leadership role.
• Proven experience managing a team performing first line defenses.
• Strong understanding of US and global regulatory requirements related to BSA/AML, KYC, and other relevant financial crime regulations.
• Experience working with commercial clients, including nanobanks, payment processors, or other financial institutions.
• Deep understanding of commercial client risk factors, including those associated with global businesses and complex ownership structures.
• Proficiency in conducting KYB, negative news screening, and risk assessments.
• Experience with due diligence tools and technologies (e.g., LexisNexis, World-Check, etc.).
• Excellent analytical, problem-solving, and decision-making skills.
• Strong communication, interpersonal, and presentation skills.
• Ability to work independently and as part of a team in a fast-paced, 1 dynamic environment.   
• Professional certifications such as CAMS, CFE, or CRCM are a plus.
• Experience with FinTech or payments industry strongly preferred.