We’ve changed our name to Novi.

What’s not changing is our commitment to better money movement. Read more.

Head of Compliance Monitoring and Testing, Novi

Legal, Finance, Facilities & Admin | Menlo Park, CA
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About Novi

In June 2019, the Libra Association announced plans for Libra – a new global cryptocurrency that runs on the Libra network. Libra's mission is to create a simple global financial infrastructure that empowers billions of people around the world. It's powered by blockchain technology and the plan is to launch it in 2020.

Novi is a newly formed Facebook subsidiary whose goal is to provide financial services that will enable people to access and participate in the Libra network. Our first product will be a digital wallet for Libra, a new global currency powered by blockchain technology, and it will be available in 2020 in Messenger, WhatsApp, and as a standalone app. Our vision is to reinvent money and transform the global economy so people everywhere can live better lives. Novi will let you send Libra to almost anyone with a smartphone, as easily and instantly as you might send a text message or photo, and at low to no cost. And, in time, we plan to offer additional services for people and businesses, such as paying bills with the push of a button, buying a cup of coffee with the scan of a code, or riding your local public transit without needing to carry cash or a metro pass.

We’re still early in the process of developing Novi, and are looking for talented, passionate, mission-driven people to join our team so we can build a future together that empowers billions of people around the world.

Our team is looking for someone to lead Novi’s Compliance Monitoring and Testing program. In this role, you will be the primary leader responsible for assurance over our applicable compliance obligations globally . You will be responsible for creating the strategy, determining the approach, and managing the execution of our monitoring and testing engagements to validate the design and effectiveness of regulatory compliance internal controls. This will involve working with other Compliance team members and other functions to proactively ensure that controls and monitoring and testing requirements are built into our processes such as Licensing, KYC, Transaction Monitoring, Sanctions Screening, Reporting, Consumer Protection. You will be responsible for creating and managing a highly effective program that demonstrates compliance with all applicable laws and regulations. The right candidate will possess and demonstrate deep knowledge and experience in multiple disciplines, including Anti Money Laundering/Combating Financing of Terrorism (AML/CFT) regulatory subject matter globally, assurance planning and execution, process evaluation, and use of advanced technology and data analytics techniques to perform real-time monitoring and periodic testing.

Responsibilities

  • Design and implement Novi’s assurance framework, including policy, detailed standards, approaches, plans and processes
  • Work closely with Compliance, Legal, Product, Operations and other cross-functional teams to understand the overall business environment and be the single point of contact for all facets of compliance monitoring and testing engagements from risk-based planning, designing test scripts, and executing against them them
  • Partner with other leaders to design and implement the entire Compliance framework and system for our business, especially ensuring we continue to enhance our risk management culture
  • Manage direct and indirect teams involved in the execution of Monitoring and Testing
  • Be the main point of contact for our regulators and other external stakeholders for assurance topics
  • Maintain strong communication channels with other groups, including other Compliance leaders, during all facets of engagement, including issue resolution
  • Ensure that all the monitoring and testing activity is documented, socialized, and any issues are are validated with appropriate stakeholders
  • Create regular formal documents for the work performed, and ensure tracking of identified issues and corrective action plans to validate remediation efforts
  • Ensure compliance risk assessments appropriately incorporate results of the monitoring and testing
  • Monitor compliance industry developments, and maintain advanced knowledge of new and amended laws and regulations, and ensure processes are in place to keep the the business updated on such developments
  • Proactively analyze trends and patterns in alerts for AML and other parts of Compliance, and effectively design our program
  • Develop, maintain and review policies, procedures and processes to ensure compliance with applicable internal, legal and regulatory standards

Minimum Qualifications

  • Bachelor’s Degree
  • 10+ years of regulatory, compliance, audit and/or risk management experience with demonstrated track record of increasing management responsibilities
  • Knowledge of applicable global financial services/Fintech laws and regulations with specific emphasis on Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) and sanctions laws and regulations
  • Interpersonal and communications skills to successfully interface with all levels of stakeholders and to work collaboratively in a fast moving and changing environment
  • Proven compliance risk in understanding underlying risk and weaknesses to properly mitigate such risks
  • Technical competency of applicable laws and regulations to transform requirements into monitoring or testing scripts, policies, procedures and/or training
  • Management experience developing team members to drive towards desired outcomes

Preferred Qualifications

  • Experience with blockchain/virtual currency, emerging financial technology, and other financial services environments
  • Experience in mix of government/regulatory, and financial services/technology industries
  • Experience in data analysis and metrics