Business Compliance Officer, AMS - Global

Business Compliance Officer, AMS - Global Payment

Location:

San Jose

Team:
Corporate Functions

Employment Type:

Regular

Job Code: A100382

About the Team In line with the globalization strategy and vision of the company, the Byte Dance Global Payment team ("Global Payment") builds a platform to provide cross-border payment solutions for all Byte Dance's products and services, that are growing rapidly worldwide.

About the Role We are seeking a Business Compliance Officer based in the United States ("BCO"). The BCO will report to the Head of Global Business Compliance. As part of Global Payment's Business Compliance Team, the BCO will advise on and manage the review of payment and financial services products, engage channel partners (e.g. Banks and PSPs) on compliance issues, and support the development and implementation of Global Payment's product and channel compliance framework.

Even though the BCO will be based in the US, the BCO will have both regional and global responsibilities.

• Product Compliance:
  Support formulation and implementation of the company's product governance framework. Provide guidance to internal teams on regulatory requirements for new product development and existing product enhancements. Conduct regulatory assessments of new product solutions to identify risks and develop mitigation strategies. Advise product teams on how to implement compliance requirements in a customer-oriented way while fully adhering to them. Establish proper product launch governance to ensure compliance requirements are addressed and the product is compliant by design ure proper compliance change controls are in place, work with Compliance Oversight team to ensure remediation plans are implemented properly.
  
  Support new product launches under applicable regulatory frameworks in the Americas region, including but not limited to product compliance under FinCEN and U.S. state money transmitter laws framework in the U.S., FINTRAC and Bank of Canada's RPAA framework in Canada, etc.
• Channel Compliance:
  Support formulation and implementation of the company's channel compliance governance framework. Represent Compliance in external meetings with third party channel partners and be able to clearly and effectively articulate payment and financial services product offerings and relevant compliance controls. Support product and business teams in engagement with third party channel partners on compliance matters. Manage channel partner due diligence on/request for information to Byte Dance entities.
  
  Specific tasks include mapping AML/CFT and sanctions compliance controls applicable to key business lines; develop and maintain information to address common AML/CFT, sanctions compliance, and other regulatory related due diligence questions; liaise/work with cross functional teams to address due diligence requests and inquiries; and timely escalate potential control gaps identified through channel partner correspondence and inquiries.
• Others:
  Stay abreast of evolving regulatory and compliance trends in the Americas region that may impact the company's business. Prepare compliance reports for senior executives and stakeholders. Communicate updates on product compliance initiatives to relevant teams and departments. Provide support to regional compliance work in North America on an as needed basis.

• Ability to effectively communicate with Product Managers and Engineers, and provide practical, actionable, and value-added compliance recommendations.
• Ability to analyze and interpret complex regulatory frameworks and apply them effectively.
• Ability to navigate complex regulatory environments across different jurisdictions.
• Ability to deal with multiple regulatory domains (i.e., regulatory licensing, consumer protection, payments, BSA/AML/sanctions, privacy, etc.) and to understand how they interact with one another.
• Ability to prioritize effectively and identify key areas of improvement and implementation required from a regulatory point of view.

• Legally trained with familiarity with payment and/or financial services regulation and…