Since launching in 2013, itBit has strived to push the boundaries of sophistication in bitcoin trading. In May 2015, we obtained a trust company charter and opened the first regulated bitcoin exchange in the U.S. Today, we stand alone as the only company in the space that offers bitcoin traders access to both a global exchange and OTC trading desk.
The Compliance Officer reports to the Chief Compliance Officer and will be responsible for leading a variety of compliance initiatives across both organizations. This person will oversee due diligence on new and existing products, and assist with other special projects as needed. This is a hands-on position in compliance within an organization of approximately 75 employees.
Responsible for compliance with the US-AML Policy for U.S. operations, including maintenance of the US Anti-Money Laundering Compliance Program and US OFAC and Sanctions Compliance Program.
Maintain appropriate policies, including a Customer Identification Program, training of staff, monitoring of customer transactions, reporting suspicious activity and providing management information reports.
Lead new client onboarding program by overseeing and training analysts in the correct methods of reviewing, researching, approving and denying client account applications.
Depending on new client application volumes, be prepared to assist in the review, research, approval or denial of new clients onto the itBit system.
Assist the Chief Compliance Officer in creating testing calendars and risk analyses.
Effectively manage projects and other staff, as necessary.
Provide support for various regulatory, compliance and legal projects or requests by conducting analysis and research.
Review and analyze AML current trends and news in order to identify areas where the program may require enhancement.
What We Are Looking For
7-10 years of compliance experience in a financial institution or related activity
Bachelor’s Degree required; relevant certifications or advanced degree desirable
Knowledge of the laws applicable to money laundering, including the Bank Secrecy Act, the USA Patriot Act, US Treasury AML guidelines, OFAC requirements and Suspicious Activity Reporting requirements.
Working knowledge of concepts, practices and procedures of trust (fiduciary) compliance reviews.
Experience within a boutique/smaller bank or exchange type institution
Strong organizational and time management skills; ability to effectively identify and prioritize the most critical tasks
Nice To Have
Experience with and/or interest in virtual currencies and related compliance issues
Bitcoin trading involves a high degree of risk. The bitcoin market is new and unproven and may
not grow. Currently, there is relatively small use of bitcoin in the retail and commercial
marketplace in comparison to relatively large use by speculators, thus contributing to
price volatility that could adversely affect an investment in bitcoin. In order to
participate in the trading of bitcoin, you should be capable of evaluating the
merits and risks of the investment and be able to bear the economic risk of
losing your entire investment. No material at this site should be considered
as an offer by itBit to sell or solicitation by itBit of any offer to buy bitcoin.