Regulatory and Licensing Manager

Description


Position at Moneycorp


Welcome to Moneycorp

Moneycorp powers global payments for corporates, institutions and high net worth individuals, combining worldwide reach with local expertise. With over 45 years of market experience, two banking licences and offices in 11 countries, our technology delivers 24/7 accessibility, while our people deliver award-winning service. In 2024, we supported $1tn+ of payment volume, reaching 190 countries in 130 currencies. Our 32k+ corporate clients benefit from our regulatory resilience with 63+ permissions globally, access to major payment rails, and our proprietary technology.


Moneycorp is a place where energy, commitment, and collaboration are core to our values of shared success. We're restless in our drive to surpass the expectations of our customers and unlock opportunities to support them at every stage of their journey. The foundation of our success is our people, and nurturing a culture of belonging for all our colleagues is central to our journey as a global business.


In North America, our offices are in Stamford, Orlando, Providence, and Toronto. We are licensed to operate in each US State, and in Canada at the Federal level we are registered with FINTRAC and at the Provincial level in Quebec.


Role Purpose

This position will report to the Chief Compliance Officer. The Regulatory and Licensing Manager will ensure that Moneycorp adheres to all governmental (state and federal) laws and regulations. They will be responsible for researching, assessing, and monitoring new developments, ensuring policies and procedures are updated and upheld, and serving as primary point of contact and coordinator for regulatory examinations and internal and external audits.

Responsibilities

Manage Regulatory Compliance function

• Ensure compliance with, and manage company processes related to, state money transmitter licensing requirements and all Nationwide Multistate Licensing System (NMLS)-related activities
• Maintain extra-provincial registrations for Moneycorp US Inc. in Canada
• Conduct horizon scanning, liaise with regulators to ensure timely notice of any regulatory changes, and communicate all such changes promptly to the Chief Compliance Officer (CCO)
• Prevent any disruption in licensing status by ensuring the company receives timely, accurate and complete documentation/information concerning licensing requirements
• Strategize, plan, and prioritize licensing strategy and related risks
• Timely file all required reports, renewal documents, and other information related to applicable licensing requirements
• Identify and internally report licensing-related risk and compliance issues and participate in developing mitigation plans
• Create accurate and timely reporting and analysis of regulatory and licensing activities
• Monitor and resolve NMLS task list for all license item notifications
• Monitor all regulatory filings managed by outside vendors (e.g. Secretary of State filings submitted by the company's registered agent) to ensure timely and complete submissions
• Monitor surety bond expiration dates and ensure renewals are processed in a timely manner
• Provide management and executive level overview on the state of licensing
• Hire and manage a Regulatory and Licensing Associate to serve as deputy
• Assist as needed in other areas of Compliance

Manage external and internal audits

• Act as principal coordinator, in collaboration with Finance, Legal, and Compliance departments, for all federal/state examinations, internal and external audits, annual independent AML compliance reviews (US), and biennial AML effectiveness reviews (Canada). This includes:
• Organizing and coordinating initial document production
• Preparing and maintaining examination trackers, issues logs, etc.
• Acting as principal point of contact during the course of all examinations/audits
• Supporting the Chief Compliance Officer, as needed, in preparing responses to the examiners
• Managing the post-examination issues log and ensuring all action items are completed in a timely manner

Knowledge, Skills and Experience Required:

Knowledge and Experience:

• Three or more years of experience with money transmitter licensing compliance
• Five or more years of NMLS experience
• Three or more years of experience participating in state or federal compliance examinations
• Two or more years of management/supervisory experience
• Strong knowledge of statutes, regulations, and NMLS activities applicable to money transmitters

Skills:

• Must be able to work under pressure in a fast paced environment
• Must have great organizational skills including the ability to prioritize
• Must have excellent oral and written skills
• Proficient in MS Excel and Word

Education:

• Bachelor's Degree or commensurate experience

Languages:

• English

Personal Attributes:

• The individual must have excellent work ethic and exceptional attention to detail
• The individual must be professional and personable
• The individual must be determined and driven
• The individual must be self-motivated and have the ability to work independently and within a team environment

What's in it for you?

• This position is full-time permanent, operating on a hybrid working model from one of our office in Stamford, CT or Providence, RI.
• This role offers a salary range between USD 90,000 - $110,000 per annum + annual bonus and a comprehensive benefits package
• Medical, Dental, Vision
• 401k

Location and Hours of Work :

• Location: Stamford, CT or Providence, RI
• Overtime Eligible: No - Salaried Exempt
• Hours: 40 hours per week, Monday to Friday between 8.30am - 5.00pm
• Flexibility will be required in line with business needs
• This is a hybrid role

Please note that this job description does not form part of your employment contract. The company can modify your job duties or amend this job description at any time.


Fostering a culture of belonging and inclusivity

We're committed to creating a workplace where every individual feels valued, respected, and included. As an Equal Opportunity Employer, we actively cultivate an inclusive culture where diversity thrives, and we empower our colleagues to drive meaningful change within our organization through Employee Engagement initiatives and value champion networks.


Like many of our peers, we recognize that fostering inclusivity is an ongoing journey, and we remain steadfast in our commitment to progress. By measuring our efforts through regular assessments and listening to the feedback of our employees, we strive to ensure that our initiatives are impactful and responsive to the evolving needs of our workforce.


Together, we want to build a workplace where everyone can bring their authentic selves to work, as we believe this is the foundation of innovation, creativity, and collective success.