Business Compliance Officer, AMS - Global Payment
ByteDance
Responsibilities
About the Team In line with the globalization strategy and vision of the company, the ByteDance Global Payment team ("Global Payment") builds a platform to provide cross-border payment solutions for all ByteDance'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. Key Responsibilities: Product Compliance - Support the 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. Advise internal teams on how to interpret regulatory requirements or improve processes to avoid regulatory breaches and/or incidents. - Conduct regulatory assessments of new product solutions to identify risks and develop mitigation strategies. Advise the 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 that compliance requirements are addressed and the product is compliant by design at launch. - Ensure proper compliance change controls are in place, where issues are identified, 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 US state money transmitter laws framework in the US, FINTRAC and Bank of Canada's RPAA framework in Canada, etc. Channel Compliance - Support the 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 our 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 ByteDance entities. Specific tasks include but not limited to - - 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/request for information from channel partners; 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.
Qualifications
Minimum Qualifications: - 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 Preferred Qualifications: - Legally trained with familiarity with payment and/or financial services regulation and financial crimes compliance frameworks - Senior counsel or product compliance role in fintech or financial services industry preferred. - 5+ years of experience in product compliance or counsel experience, with a strong track record of enabling products in a compliant way - Familiarity with payments and financial services regulations in the Americas region. - Good understanding of product compliance frameworks and best practices. - Good project management skills - Strong analytical and problem-solving abilities
Job Information
【For Pay Transparency】Compensation Description (Annually)
The base salary range for this position in the selected city is $142200 - $332800 annually.
Compensation may vary outside of this range depending on a number of factors, including a candidate’s qualifications, skills, competencies and experience, and location. Base pay is one part of the Total Package that is provided to compensate and recognize employees for their work, and this role may be eligible for additional discretionary bonuses/incentives, and restricted stock units.
Benefits may vary depending on the nature of employment and the country work location. Employees have day one access to medical, dental, and vision insurance, a 401(k) savings plan with company match, paid parental leave, short-term and long-term disability coverage, life insurance, wellbeing benefits, among others. Employees also receive 10 paid holidays per year, 10 paid sick days per year and 17 days of Paid Personal Time (prorated upon hire with increasing accruals by tenure).
The Company reserves the right to modify or change these benefits programs at any time, with or without notice.
For Los Angeles County (unincorporated) Candidates:
Qualified applicants with arrest or conviction records will be considered for employment in accordance with all federal, state, and local laws including the Los Angeles County Fair Chance Ordinance for Employers and the California Fair Chance Act. Our company believes that criminal history may have a direct, adverse and negative relationship on the following job duties, potentially resulting in the withdrawal of the conditional offer of employment:
1. Interacting and occasionally having unsupervised contact with internal/external clients and/or colleagues;
2. Appropriately handling and managing confidential information including proprietary and trade secret information and access to information technology systems; and
3. Exercising sound judgment.
About Us
Founded in 2012, ByteDance's mission is to inspire creativity and enrich life. With a suite of more than a dozen products, including TikTok, Lemon8, CapCut and Pico as well as platforms specific to the China market, including Toutiao, Douyin, and Xigua, ByteDance has made it easier and more fun for people to connect with, consume, and create content.
Why Join ByteDance
Inspiring creativity is at the core of ByteDance's mission. Our innovative products are built to help people authentically express themselves, discover and connect – and our global, diverse teams make that possible. Together, we create value for our communities, inspire creativity and enrich life - a mission we work towards every day.
As ByteDancers, we strive to do great things with great people. We lead with curiosity, humility, and a desire to make impact in a rapidly growing tech company. By constantly iterating and fostering an "Always Day 1" mindset, we achieve meaningful breakthroughs for ourselves, our Company, and our users. When we create and grow together, the possibilities are limitless. Join us.
Diversity & Inclusion
ByteDance is committed to creating an inclusive space where employees are valued for their skills, experiences, and unique perspectives. Our platform connects people from across the globe and so does our workplace. At ByteDance, our mission is to inspire creativity and enrich life. To achieve that goal, we are committed to celebrating our diverse voices and to creating an environment that reflects the many communities we reach. We are passionate about this and hope you are too.
Reasonable Accommodation
ByteDance is committed to providing reasonable accommodations in our recruitment processes for candidates with disabilities, pregnancy, sincerely held religious beliefs or other reasons protected by applicable laws. If you need assistance or a reasonable accommodation, please reach out to us at https://tinyurl.com/RA-request