Job description
The Internet lacks a protocol for money. Lightspark is building the tools and services to make it happen. Lightspark builds enterprise-ready infrastructure for open payments for the Internet at scale using the Lightning Network. An always-on, low-cost, universal payment network will completely transform how money is moved, enabling businesses and developers to transform existing solutions and build new financial systems, services, and processes accessible to everyone, transcending geographical restraints. Lightspark is headquartered in Los Angeles, California, but serves the world.
Lightspark Payments is building regulated services on the Lightning Network. This role will lead and manage the compliance and risk program for our regulated payments business. This role will initially focus on executing customer onboarding and counterparty due diligence for payment counterparties on the UMA protocol. You will also design front end fraud controls and define an initial set of detective monitoring rules. You will report to our CCO, and will work hand in hand with our Product, Engineering, and Operations functions to design controls, document processes, and execute where needed during the initial launch of Lightspark Payments. Initially this will be an independent contributor, with the expectation to hire a team of 2+ analysts and investigators to operationalize compliance reviews in 3-6 months. This role will appeal to experienced compliance professionals with experience working in fast paced, innovative environments, who are motivated by building and scaling programs.
Regular travel to Los Angeles is required to collaborate with your team and cross functional stakeholders.
What you will be doing
Own and manage the business and consumer KYC/CDD program including execution and hiring of additional staff as needed to perform customer due diligence reviews
Develop the initial set of rules for transaction monitoring and define a formal manual review and investigations process
Perform counterparty due diligence reviews and develop and customer risk rating model for retail and business customers
Oversee the configuration of our third party fraud vendor front end and detective monitoring alerts
Collaborate and coordinate effectively with a variety of cross functional stakeholders including Product, Engineering, Legal, Design, and Business Development
Provide real-time subject matter expertise and guidance to product, engineering and design, as new products and services are being developed or enhanced to ensure ongoing compliance with all relevant regulatory requirements
Understand and articulate how compliance requirements will intersect with the funds flow end-to-end and be comfortable collaborating and contributing in group working sessions to design product and user interfaces with compliance requirements in mind
Identify potential risks (compliance, regulatory, financial, fraud, etc,) and surface these risks together with proposed solutions to our cross functional partners and leadership
What we’re looking for
10+ years of total experience and at least 5 years in a compliance management role (such as BSA or Compliance Officer)
Subject matter expertise in at least one of these areas is essential: domestic or cross border payments, blockchain or cryptocurrency, stablecoin payment infrastructure, and/or customer identification for a regulated entity
Understand the functional and technical design of blockchain, bitcoin and (ideally) the Lightning Network
Prior experience with payment systems, US and international payment rails, and compliance obligations around payments and customer onboarding
Prior experience integrating or configuring compliance vendors or designing requirements for internal systems
Strong analytical and problem-solving skills, with the ability to translate complex requirements into actionable product documentation
Excellent communication and collaboration skills, with the ability to work effectively in cross-functional teams
Prior experience working in a start-up environment, or building products/programs from scratch
Intense professional curiosity and a growth mindset
Lightspark is on a mission to build an open payment protocol for the Internet at scale and therefore we’re committed to creating a more inclusive and diverse workplace to reflect the customers we serve. We welcome interest from individuals of all backgrounds and levels of experience who share our mission. We do not discriminate based on race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, disability status, or other applicable legally protected characteristics.
We will consider for employment qualified applicants with criminal histories in a manner consistent with the requirements of the State of California Fair Chance Initiative for Hiring.
