The Role:

Reporting to the VP Legal, Group General Counsel, the Chief Compliance Officer / Legal Director is responsible for ensuring IRIS’ compliance with money transmission regulations related to the transfer of funds electronically or physically via its Money Transfer licenses, ensuring compliance with anti-money laundering (AML) laws, consumer protection standards, and proper record-keeping practices, often requiring close monitoring of transactions and investigations into suspicious activity, while working within the legal framework of state and federal money transmission regulations; overseeing the legal operations of money transfer companies to prevent financial crimes and safeguard consumer interests.

 In addition, the Chief Compliance Officer / Legal Director may support IRIS’ America’s business working with current legal resources to provide legal support including general legal assistance, negotiating and drafting agreements, company secretarial, procedural and regulatory issues arising from IRIS’ routine operations and working on or leading various department and organization projects.

 Stakeholders include: State regulators, America’s business colleagues including the President and the senior leadership team, Legal and finance colleagues (including compliance).

Main Responsibilities: 

Chief Compliance Officer:

Licensing and Registration: Responsible for completing and reviewing applications for money transmitter licenses, conducting background checks on applicants, and ensuring compliance with state and federal licensing requirements.

· Compliance Monitoring: Analyzing transaction data to identify potential suspicious activity, including large cash transactions, unusual patterns, and potential money laundering schemes. Completing risk assessments and insuring processes and procedures are documented and followed.

· Know Your Customer (KYC) Procedures: Ensuring businesses properly verify the identity of their customers and maintain detailed records of transactions to meet KYC regulations.

· Anti-Money Laundering (AML) Reporting: Investigating and reporting suspicious activities to relevant authorities according to AML regulations. SAR reporting.

· Auditing and Examinations: Conducting regular audits of money transmitter businesses to assess compliance with regulatory standards, including financial stability and internal controls. Take leadership role in examinations. Lead annual internal audit.

· Consumer Protection: Handling consumer complaints related to money transmission services, investigating issues, and ensuring fair practices.

· Regulatory Interpretation: Staying updated on evolving money transmission laws and regulations, providing guidance to businesses on compliance requirements.

 Corporate / Legal advisor:

• Corporate:
  • Compliance: Ensure company compliance with statutory requirements.
  • Corporate: Provide guidance and support to members of the board of directors to the entities supported.
  • Audit liaison: Interface with internal and statutory auditors, cost auditors and other key external stakeholders in connection to the compliance of laws and regulations.
  • Statutory documents: Ensure all statutory documents and minutes are filed into the minutes book and are filed within the stipulated time frame.
  • Legislation: Monitor changes in relevant legislation and the regulatory environment and take appropriate action.
• General Legal:
  • Legal advice: Providing pragmatic, competent and timely general legal advice to all levels across the business.
  • Contracts: Preparing, drafting and negotiating a variety of commercial contracts and providing legal advice in relation to such contracts .
  • Acquisitions: Assisting with post-acquisition related activities.