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Compliance Analyst
MassMutual
IT, Legal
New York, NY, USA
Posted on Thursday, October 26, 2023
Compliance Analyst
New York, New York Compliance Job ID R14562Compliance Analyst
Compliance and Legal Team
Full-time
New York, NY
The Opportunity
Flourish was founded in 2017 with the goal of helping financial advisors to better secure the financial futures of their clients. We focus on independent Registered Investment Advisers (RIAs), delivering financial products that advisors can’t easily access today through beautiful, scalable, and easy-to-use technology.
Today, we work with over 550 RIAs that collectively represent more than $1.5T in assets under management across two products: Flourish Cash, a cash management solution with more than $2.5B in deposits, and Flourish Crypto, a turnkey cryptocurrency offering built for financial advisors and their clients. Headquartered in New York City, we are an independently operating, wholly owned subsidiary of MassMutual Life Insurance Company.
Read on if you are interested in joining a small, highly collaborative, rapidly growing startup—backed by the support and stability of a Fortune 500 company.
About the Role
The growing Flourish Legal & Compliance team is part of the larger MassMutual Legal team. Covering a growing fintech platform, the Flourish Legal & Compliance Team works on a variety of business needs, including fraud prevention; anti-money laundering and economic sanctions; broker-dealer surveillance, anti-corruption; data governance, security and privacy; and elder financial exploitation compliance strategies and programs.
As a Compliance Analyst, you will be part of Flourish’s Legal and Compliance Team. You will help review, investigate, document, escalate, and analyze risks related to Flourish’s anti-money laundering obligations. You will also monitor applicable laws and regulations relating to money laundering and financial crime, and develop and provide insight into compliance risk assessments, metrics, business awareness, and education needs as part of a team of compliance professionals.
You will also assist the team in conducting surveillance of employee communications, as Flourish is required to do as an SEC and FINRA-registered broker-dealer. You will help the Legal & Compliance team in developing efficient ways to discharge its regulatory obligations in that respect, and provide insight into how Flourish can improve its capabilities to monitor and respond to regulatory risks.
The Team
Working as an integrated team of subject matter experts, Legal & Compliance aligns various compliance efforts to manage the Firm’s risks. While the team is organized by risk (anti-money laundering and economic sanctions; data governance, security and privacy; anti-corruption; elder financial exploitation and fraud), functional integration within the same team enables the Flourish Legal and Compliance team to effectively manage risk across the organization. This is accomplished by fostering greater and consistent coordination and communications with business lines and other control functions, developing an overall legal and regulatory strategy, sharing and analyzing key data across areas like financial crimes, fraud and data privacy/security prevention activities and efficiently managing workflow, cases, and activity.
The Impact
As a Compliance Consultant on the Flourish Legal & Compliance team, you will collaborate with team members, as well as internal business partners. Specific responsibilities include:
Reviewing new client data for anti-money laundering risks
Assist in the surveillance of firm communications
Provide guidance and training to other Flourish business units regarding various Company policies and procedures involving AML and regulatory compliance
Assist in responses to regulator and internal audit requests
Assist in preparation and evaluation of external reviews and regulatory inquiries, including state and FINRA/SEC examinations
Monitor applicable laws and regulations relating to anti-money laundering
Develop and monitor AML compliance risk assessments, metrics, business awareness and education needs
Work with other business constituencies to address Compliance issues
Minimum Qualifications
We are seeking candidates who have interest and necessary skills to learn and grow in fields related to operations, compliance, legal or risk, including:
Bachelor’s degree or higher
Willingness to to obtain a Series 7 within the first sixty days of employment
Must be able to pass a background check required under FINRA rules
Preferred Qualifications
Strong written and verbal communication skills with the ability to generate precise and thorough documentation. This is a critical competency due to investigations and reports prepared by the team may be subject to careful review by regulatory authorities
Ability to maintain accuracy when under tight time constraints and be able to maintain a detail-orientated approach
Strong analytical skills, with the ability to effectively identify, communicate and address the full range of potential compliance exposures
Willingness to learn and adapt to change driven by regulatory, industry, and business developments
Exhibits highest ethical standards & strong work ethic
Experience in a regulatory compliance, legal, risk, or related function, ideally at an Insurance Company or Broker Dealer
Knowledge or experience with state, FINRA and other regulatory bodies regulations relating to Anti-Money Laundering
At Flourish, we focus on ensuring fair, equitable pay by providing competitive salaries, along with bonus and incentive opportunities and benefits for all employees.
Disclosures:
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.
Flourish is an online platform through which investors can access financial services and products. The services and products offered through Flourish are provided by different entities and are subject to different terms, investor protections and risks. Flourish Cash is offered by Flourish Financial LLC, a registered broker-dealer and FINRA member. Flourish Financial LLC is not a bank. Check the background of Flourish Financial LLC and its personnel on FINRA's BrokerCheck. Flourish Crypto is offered by Paxos Trust Company, LLC (Paxos), a New York limited purpose trust company regulated by the New York Department of Financial Services that provides cryptocurrency custody and execution services for the Flourish Crypto accounts, and Flourish Digital Assets LLC (Flourish Digital Assets), which is registered in New York as a commodity broker-dealer and provides website and other technology services and support for Flourish Crypto accounts. Flourish Financial LLC and Flourish Digital Assets LLC are affiliates, but are not affiliates of Paxos. Please review the Legal section of our website, and the disclosures provided with each Flourish service or product, for further information regarding each service and product. © 2022 Flourish. All rights reserved.
1 The Flourish business is owned by Massachusetts Mutual Life Insurance Company ("MassMutual"). Flourish Financial LLC and Flourish Digital Assets LLC are indirect, wholly-owned subsidiaries of MassMutual.
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MassMutual is an Equal Employment Opportunity employer Minority/Female/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply. Note: Veterans are welcome to apply, regardless of their discharge status.If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.