Job Description
Wealthfront is seeking a talented, passionate, and detail-oriented Anti-Money Laundering (AML) compliance professional to join its AML Monitoring team. As the newest member of AML Monitoring, this individual will play a key role in Wealthfront’s newly formalized triage function, through which all referrals of potentially suspicious activity — including requests under Section 314(a) and 314(b) of the USA PATRIOT Act, subpoenas, and internal referrals from across the firm — are assessed prior to escalation to the Financial Intelligence Unit (FIU).
The ideal candidate will be someone who enjoys hands-on investigative work, possesses a strong degree of intellectual curiosity, holds an interest in applying technology to enhance business processes, and will be looking to continue developing their AML skillset in an individual contributor capacity. This individual will work closely with other members of the Legal and Compliance division and collaborate with other departments across the firm including Fraud Operations, Product Support, and Engineering.
Responsibilities:
Review and disposition transaction monitoring alerts in accordance with established procedures, determining whether escalation to the FIU is warranted
Conduct in-depth reviews of transactional activity, internal KYC records, and open source research in support of triage and monitoring functions
Maintain accurate and well-documented records of triage decisions and alert dispositions to ensure consistency, auditability, and stakeholder transparency
Partner with Engineering teams to develop new and enhance existing transaction monitoring processes
Leverage expertise to assist in the identification of unusual financial activity indicating potential money laundering, terrorist financing, and fraud
Conduct deep-dives into account and transaction activity to identify and expand upon existing Fraud and AML typologies
Support Wealthfront’s suspicious activity detection, transaction monitoring, and reporting programs and drive enhancements to the program, including updates to related controls and accompanying policies and procedures
Assist with Wealthfront’s adverse media and PEP watchlist screening
Maintain awareness of and provide thought leadership on impending regulatory changes
Expertise:
Deep, wide, and practical understanding of money laundering typologies and related red flags
Adept at conducting triage or initial assessments of potentially suspicious activity referrals, including determining whether escalation to an investigations team is warranted
Experience reviewing potentially suspicious activity spanning cash management, automated investment advisory, brokerage, and home lending products
Familiarity with subpoenas as well as requests received under Section 314(a) and 314(b) of the USA PATRIOT Act
Adept at developing, refining, and reviewing transaction monitoring parameters designed to surface suspicious activity
Excellent analytical and organizational skills, able to set and meet deadlines in a fast-paced environment
Strong working knowledge of BSA/AML, FinCEN, FINRA, and SEC regulations
Experience leading cross-functional projects, including collaboration with engineering teams
Strong verbal and written communication skills
Intellectually curious and interested in applying technology to enhance business processes
Broad analytical skills, with experience identifying and quantifying problems while providing creative, effective solutions
Required:
BA/BS degree
2 - 4 years of direct or relevant experience conducting Anti-Money Laundering (AML), Sanctions, or Follow-the-Money related analysis and/or investigations
Willingness to obtain applicable registrations and/or licenses as necessary
Preferred:
CAMS or CFE certification
Experience at a Broker-Dealer and/or Registered Investment Adviser (RIA), including FINRA Series 7 and 24 registrations
Product experience spanning automated investment advisory, brokerage accounts, individual stock investing, cash management and checking products, portfolio lines of credit, and home lending products
Experience supporting AML compliance programs in a banking-as-a-service (BaaS) or bank partnership model
Experience with or general understanding of broader financial services including investment advisory, retail banking, and consumer lending
Estimated annual salary range: $102,185 - $125,820 USD plus equity and a discretionary bonus.
Benefits include medical, vision, dental, 401K plan, generous time off, parental leave, wellness reimbursements, professional development, employee investing discount, and more!
About Wealthfront
Here at Wealthfront, our mission is to create a financial system that favors people, not institutions. We do this by leveraging technology to build powerful, low-cost, and easy-to-use financial products that help modern investors grow and manage their money.
We started with the ambition to transform the investment advisory business. By automating strategies typically reserved for the wealthy, we unlocked access to high quality investment advice for a digitally-native generation that was underserved by traditional institutions. Since then, we’ve expanded to a full suite of products designed to help our clients turn their savings into long-term wealth, including:
• A Cash Account that, through our partner banks, offers one of the highest annual percentage yields on uninvested cash in the industry, while providing instant and secure access to your money with no account fees and a full suite of checking features.
• A zero-commission Stock Investing Account with 50+ handpicked collections that help DIY investors discover new companies and make smarter investing decisions.
• Multiple automated investing portfolios designed to unlock tax savings through sophisticated strategies like fixed income, tax-loss harvesting, and direct indexing—which we offer at industry-leading low costs and accessible minimums.
Our award-winning products have attracted over 1 million clients who trust us with more than $90 billion of their hard earned savings—and we’re far from done. If you’re inspired to help us reshape the financial industry as we create our next chapter, let’s talk!
For more information please visit www.wealthfront.com.We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
Please review our candidate privacy notice.
Disclosures: All investing involves risk, including the possible loss of principal. Tax-Loss Harvesting benefits vary depending on the client’s entire tax and investment profile. Wealthfront doesn’t provide tax advice. The Cash Account is offered by Wealthfront Brokerage LLC (“Wealthfront Brokerage”), Member of FINRA/SIPC. Wealthfront Brokerage is not a bank. We convey funds to partner banks who accept and maintain deposits, provide the variable interest rate, and provide access to FDIC pass-through insurance. Investment management and advisory services–which are not FDIC insured–are provided by Wealthfront Advisers LLC (“Wealthfront Advisers”), an SEC-registered investment adviser. The checking features offered in the Wealthfront Cash Account are provided by Green Dot Bank, Member FDIC. Fees and Eligibility requirements may apply to certain checking features, please see the Deposit Account Agreement for details.
By “award-winning products”, please refer to www.wealthfront.com/reviews for more information. Wealthfront Corporation oversees Total Client Assets and Trusted Clients through Wealthfront Advisers and Wealthfront Brokerage. Wealthfront Advisers and Wealthfront Brokerage are wholly owned subsidiaries of Wealthfront Corporation.
