Risk Analyst, Payments Compliance

Remote | Full-time

We're responsible for enabling the business by managing risks and maintaining controls that ensure trust in the platform.

At Plaid, our mission is to unlock financial freedom for everyone.  There has never been a better time than now to start building the future of fintech with us. Plaid powers the tools millions of people rely on to live a healthier financial life. We work with thousands of companies like Venmo and SoFi, several of the Fortune 500, and many of the largest banks to make it easy for people to connect their financial accounts to the apps and services they want to use. Plaid’s network covers 11,000 financial institutions across the US, Canada, UK and Europe. Founded in 2013, the company is headquartered in San Francisco with offices in New York, Salt Lake City, Washington D.C., London and Amsterdam.

At Plaid, we're convinced that the way people interact with their finances will drastically improve in the next few years. We’re dedicated to empowering this transformation by building the tools that thousands of developers use to create their own products. 

The Risk Team at Plaid is a cross functional team whose responsibility is to enable the business by mitigating risks and maintaining controls that ensure trust in the platform. 

Plaid sits in the middle of this ecosystem, and we're the gateway used by our customers to build, launch, and scale FinTech applications that democratize financial services. In this role, you will be directly responsible for executing, optimizing, and scaling Plaid’s payments compliance workflows. This role will require deep cross-functional collaboration with Product, GTM, and Legal teams, as well as our banking partners, to ensure that Plaid is able to successfully qualify GTM opportunities from a payments compliance perspective and guide them through the onboarding funnel. 

You’ll perform independent reviews and analysis of possible suspicious activity to ensure compliance with the Bank Secrecy Act, the USA Patriot Act and Office of Foreign Assets & Control. You’ll provide research and evaluation of anti-money laundering (AML) reviews and accurately and sufficiently document analysis and findings. Other main responsibilities include conducting onboarding reviews, watchlist screening, KYC, ongoing monitoring, transactions monitoring, fraud monitoring, enhanced due diligence, customer auditing, and escalation of Suspicious Activity Reports (SAR). 

We’re looking for an individual who will focus on contributing to individual processes to help run an effective compliance program, and help us scale our payments compliance operations function and team to the next level.

What excites you:

  • Being part of a highly evolving cross functional team in a rapidly growing organization.
  • Having a significant impact on the future of financial services.
  • Building and maintaining highly effective cross functional relationships in a product focused organization.
  • Interfacing directly with GTM teams and prospective customers to ensure an efficient onboarding experience for money movement products
  • Partnering with GTM to help identify high potential prospects, identify prospect risk profiles, and perform customer onboarding diligence adjusted to a prospect’s risk profile.
  • Interfacing with both our banking partners and customers throughout the customer onboarding process.
  • Actively identifying and exploiting opportunities to increase the efficiency of the customer diligence process for money movement related products.
  • Managing the entire customer diligence process, from end to end, for money movement related products which includes onboarding, screening, ongoing monitoring, transaction monitoring, submitting SARs, and enhanced due diligence.
  • Working directly with Plaid customers to compile onboarding & compliance requirements, as well as additional due diligence requests.
  • Being a key resource in developing, implementing, and enhancing internal policies and procedures required of a rapidly evolving risk management function.

What excites us:

  • 3-5 years of experience in payments compliance (BSA/AML) preferably with a major payments company, regulated US bank, or fintech company.
  • Strong understanding of laws, regulations, and rules applicable to money service businesses, money transmission, and payment processing (e.g. BSA/AML, OFAC, Patriot Act, Nacha Operating Rules, Reg E, EFTA).
  • Ability to apply the above regulations and assess appropriately for onboarding reviews, transaction activity, monitoring of high-risk customers, and making appropriate recommendations for customer accounts.
  • Ensuring day-to-day payments operations processes are completed at high quality while mitigating appropriate risk.
  • Ability to work independently in a fast-paced, demanding, and ever-changing environment; must work well under pressure.
Plaid is proud to be an equal opportunity employer and values diversity at our company. We do not discriminate based on race, color, national origin, ethnicity, religion or religious belief, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender, gender identity, gender expression, transgender status, sexual stereotypes, age, military or veteran status, disability, or other applicable legally protected characteristics. We also consider qualified applicants with criminal histories, consistent with applicable federal, state, and local laws. Plaid is committed to providing reasonable accommodations for candidates with disabilities in our recruiting process. If you need any assistance with your application or interviews due to a disability, please let us know at accommodations@plaid.com.
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