Compliance Analyst

San Francisco, CA
Business Operations
Full Time
We are looking for compliance analysts with a love for finance and a desire to ensure that our customers succeed.

At Synapse, our mission is to accelerate democratization of best in class financial products for everybody. On a day-to-day basis, compliance analysts will lead compliance investigations at Synapse which impact the company, our customers, and end users.  We are building a full stack bank, so compliance investigations range from ACH transfers to deposit account compliance to cards.

On top of that, Compliance Analysts are also expected to keep up with changing regulations to ensure we have all the knowledge and experience needed to help our customers succeed.

Duties & Responsibilities:

    • We have these primary areas of focus in our compliance team which include:

    • Daily Risk Compliance 
    • Daily processing of transactions, related to wires and ACH
    • Reviews of queued transactions, for manual decisioning (cancel, return, settle)
    • Transaction analysis for risk 
    • Enhanced due diligence for end users, “know your customer” reviews
    • Fraud investigations, both internal and potential fraud reported by our clients and appropriate subsequent action in compliance with procedures
    • Manual ID verifications, for any government IDs for which the system has been unable to validate
    • UAR (unusual activity reports) review and reporting to bank partners 
    • Remediation plans related to high ACH and interchange return rates, including weekly activity analysis and conducting calls with Platforms to assist them in lowering their rates
    • Processing and communication to our bank partner in response to letters of indemnity
    • Check exceptions reviews (positive pay) Sanctions reviews for any potential matches requiring a manual review 
    • Any proof of authorization requests that were unable to be automatically processed via the dashboard 

    • ACH/Risk Analysis
    • Responsible for monitoring ACH transactions by identifying unusual patterns and trends and resolving any ACH disputes accordingly. Completing detailed activity reports as needed.
    • Responsible for monitoring ACH Activity: transactions, returns and trend analysis - strong understanding of Reg E is preferred.
    • Ensure complete and appropriate documentation is maintained. Collect, compile, and report research and analysis findings. Monitor and review ACH origination processing to ensure compliance with policies and procedures.

    • Internal Audit
    • Assist with independent third party audits (BSA, ACH, SOC, PCI), including:
    • Document request preparationJoin calls between appropriate personnel and auditors to answer questions, provide supporting documents
    • Ensure audits adhere to the expected schedule and timeframeAudit procedures and controls to ensure they are a true representation of the processes being completed on a day to day basis 
    • Evaluate the effectiveness of controls and provide feedback to the program design team for improvements
    • Program design related to:
    • Business continuity and disaster recovery Vendor management
    • Security SOC PCI Conduct quarterly CST meetings and document items discussed

    • To be successful at Synapse, you need to have:
    • A drive to help democratize best in class financial products
    • An ability to work independently within a small, fast-paced team
    • An entrepreneurial spirit and unrelenting passion to deliver the best service possible
    • The ability to implement feedback, learn quickly, and contribute new ideas
    • A general concern for the wellbeing of others and the desire to work on problems that maximize a positive future for humanity

Key Qualifications:

    • Minimum 1-2 years of relevant experience in Fintech, bank or MSB
    • Working knowledge of applicable laws, regulations, and guidelines (e.g., BSA, OFAC, CFPB)
    • Previous experience with UDAAP a plus
    • Strong communication + ability to interact with other humans
    • Knack for analyzing data ensuring a better understanding of the big picture (I.e. what is and what is not working for our customers)
    • Technical knowledge is a plus (we work with a lot of developers)
    • Prior experience in conducting AML investigations, customer due diligence, SARs preparation and filing - is a plus!

Perks:

    • Growth Potential
    • Competitive Salary
    • Insurance (Health//Dental//Vision)
    • One Medical membership
    • 401(k) with company matching
    • Monthly commuter allowance, for travel to and from work
    • Healthy on-site breakfast and lunch crafted by Synapse’s own chefs

Compensation:

    • $70K - $120K/DOE
    • 0.0% - 0.001%
Synapse is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all of our employees.

We are looking for top notch individuals who are seeking a challenge. Our company is growing quickly. This is an exciting time to join our team. If you are interested in adding value to our team, please apply and we will be in touch.