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Senior Regulatory Compliance Manager, Money Transmission



United States · California, USA · Remote
Posted on Thursday, May 16, 2024

Job Description

We are looking for a Senior Regulatory Compliance Manager, Money Transmission, to join Procore’s fast-growing Legal, Regulatory & Compliance Department (LRC). In this role, you will be a key member of Procore's new licensed money transmission-related payments service, helping to manage our regulatory obligations effectively and promote a culture of compliance. This is an exciting opportunity to join a small and exceptionally talented cross-functional team pursuing new and innovative business opportunities within the larger company.

As a Senior Regulatory Compliance Manager, Money Transmission, you’ll partner closely with various internal stakeholders across the organization, including LRC, Product, Payment Operations, Revenue, Marketing, Finance, and HR, to provide excellent operational and compliance support. With your extensive experience building and managing money transmission-related regulatory compliance programs and in-depth knowledge of state and federal money transmission regulations, you will manage the day-to-day activities related to our money transmission license compliance requirements, which include managing relationships with regulators, monitoring and staying ahead of regulatory changes, collaborating with regulators on issue resolution, working across stakeholders to gather information for regulatory engagement and reporting as required by regulators. To be successful in this role, you must be analytical, innovative, and able to navigate a highly complex organization. You can move fast and utilize systems and processes to ensure that the compliance function is nimble and customized for the unique facets of Procore. This role is an exciting new position and an opportunity to join Procore’s new payments business on the ground floor.

This position will report to our Assistant General Counsel, Product & Fintech. This role can be remote or based in one of Procore’s U.S. office locations. We’re looking for someone to join us immediately.

What you’ll do:

  • Support the development and implementation of a regulatory compliance and examination program in support of Procore’s money transmission business

  • Lead, coordinate, and align stakeholder engagement in preparation for and resulting from regulatory examinations, including communicating exam statuses and potential findings

  • Oversee meetings between company employees and regulators and communicate information requests, areas of review, and any potential findings with regulators.

  • Manage and track post-exam action plans and as-needed remediation action plans in response to exam findings

  • Draft and conduct quality assurance reviews of responses to regulatory exam requests

  • Lead the development, operationalization, and maintenance of policies and procedures for key areas of the payments business, including anti-money laundering and terrorist financing, UDAAP, fraud monitoring, and customer complaints, and support regular trainings to ensure ongoing compliance

  • Stay up-to-date on regulatory changes and developments, communicate and plan for expected changes to the business, and regularly report on compliance and regulatory metrics

  • Work closely with internal business partners to supervise compliance and enhance internal controls, and perform compliance investigations and audits as needed

What we’re looking for:

  • 10 + years of proven expertise and experience developing and implementing money transmission compliance programs in roles of increasing responsibility and experience in payments in money transmitter licensing is required. Experience in FinTech, preferred; Bachelor’s degree or equivalent work experience required

  • Experience using the Nationwide Mortgage Licensing System

  • Demonstrated knowledge of federal, state, and local laws, rules, and regulations related to the payments industry and the ability to adapt to an ever-changing regulatory landscape

  • Be highly responsive and service-oriented, with a demonstrated ability to maintain strong working relationships with internal partners

  • Ability to simultaneously manage workloads, multiple client demands, and shifting priorities within a fast-paced, rapidly evolving environment

  • Strong desire to learn the business and to function integrally as part of an interdisciplinary team

  • High EQ, impeccable professional ethics, integrity, judgment, and demonstrated ability to handle highly confidential information

  • Able to operate autonomously while being a team player who brings a positive “can do” attitude to the workplace, working collaboratively with other members of the LRC Department and with internal business partners

  • Excellent written and verbal communication skills with the ability to effectively counsel internal business partners by providing clear and concise advice and creative solutions to meet business needs

Additional Information

Base Pay Range $163,346 - $224,601. Eligible for Bonus Incentive Compensation. Procore is committed to offering competitive, fair, and commensurate compensation, and has provided an estimated pay range for this role. Actual compensation will be based on a candidate’s job-related skills, experience, education or training, and location.

Perks & Benefits

At Procore, we invest in our employees and provide a full range of benefits and perks to help you grow and thrive. From generous paid time off and healthcare coverage to career enrichment and development programs, learn more details about what we offer and how we empower you to be your best.

About Us

Procore Technologies is building the software that builds the world. We provide cloud-based construction management software that helps clients more efficiently build skyscrapers, hospitals, retail centers, airports, housing complexes, and more. At Procore, we have worked hard to create and maintain a culture where you can own your work and are encouraged and given resources to try new ideas. Check us out on Glassdoor to see what others are saying about working at Procore.

We are an equal-opportunity employer and welcome builders of all backgrounds. We thrive in a diverse, dynamic, and inclusive environment. We do not tolerate discrimination against employees on the basis of age, color, disability, gender, gender identity or expression, marital status, national origin, political affiliation, race, religion, sexual orientation, veteran status, or any other classification protected by law.

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