Compliance Specialist, Square

Since we opened our doors in 2009, the world of commerce has evolved immensely, and so has Square. After enabling anyone to take payments and never miss a sale, we saw sellers stymied by disparate, outmoded products and tools that wouldn’t work together.

So we expanded into software and started building integrated, omnichannel solutions – to help sellers sell online, manage inventory, offer buy now, pay later functionality through Afterpay, book appointments, engage loyal buyers, and hire and pay staff. Across it all, we’ve embedded financial services tools at the point of sale, so merchants can access a business loan and manage their cash flow in one place. Afterpay furthers our goal to provide omnichannel tools that unlock meaningful value and growth, enabling sellers to capture the next generation shopper, increase order sizes, and compete at a larger scale.

Today, we are a partner to sellers of all sizes – large, enterprise-scale businesses with complex operations, sellers just starting, as well as merchants who began selling with Square and have grown larger over time. As our sellers grow, so do our solutions. There is a massive opportunity in front of us. We’re building a significant, meaningful, and lasting business, and we are helping sellers worldwide do the same.

The mission of the Compliance team at Square is to perform monitoring and other ongoing reviews to meet our regulatory, payment network, and partnership requirements. We monitor to ensure the safety and soundness of Square’s platform and maintain a healthy and compliant customer base. As a Compliance Specialist on the team you will play a critical role in maintaining the company's legal and ethical integrity, as well as promoting a culture of compliance throughout the organization. 

Square’s Compliance Team is responsible for ensuring Square’s BSA/AML regulatory compliance through transaction monitoring; enforcing Square’s terms of service and ensuring compliance with payment network and financial partner rules and prohibited businesses; and ensuring CIP/KYC compliance  via verification of customers’ identities, the assessment of potential risks, and ensuring compliance with applicable laws, regulations and policies. 

Candidates for this role will have the opportunity to be placed with one of the following Square Compliance teams: Global Transaction Monitoring; Terms of Service Violations (TOSV)-High Risk, or US & Canada KYC/KYB EDD.

This role is a remote role based in the US reporting to a Square Compliance Lead.

You will: 

• Monitor and act upon compliance-related alerts, including reviewing potentially suspicious activity and activity that violates Square's rules.

• Work highly visible cases that are sensitive in nature and responding to large sellers on surcharging concerns, prohibited products and services, etc. 

• Respond directly to network partner inquiries which require a detailed investigation and response, including brand violations where Square is the acquirer and is directly responsible for this activity which requires more analysis than other violation types.

• Work on routine and non-complex cases with limited direction, as well as more complex cases and/or newer areas of  BSA/AML/KYC monitoring.

• Verify merchant information as part of identity verification and conduct enhanced due diligence reviews for anti-money laundering purposes. 

• Employ a  detective-like approach to investigate and escalate potentially suspicious activity such as money laundering, and demonstrate ability to review and analyze cases and investigate accounts to determine patterns, activity and decision making.

• Provide guidance and insight on merchant account analysis, including handling account escalations from junior team members.

• You will  also be in constant contact with internal and external partners and  must have written and verbal communication skills.   

• Complete work within procedural guidance and can apply procedures in a variety of account scenarios, with the ability to interpret procedures for more complex scenarios.

You have:

• 5+ years in a BSA/AML/KYC compliance and/or compliance operations role with a financial services firm, preferably in payments or Fintech

• Passion for Square, and an interest in technology and knowledge of the industry

• An operations mindset involving time-sensitive directives

• Experience communicating with and recognizing possible bad actors with a detective-like approach

• An independent contributor who can perform at a high level (both quantity and quality)

• CAMS certification preferred

Block takes a market-based approach to pay, and pay may vary depending on your location. U.S. locations are categorized into one of four zones based on a cost of labor index for that geographic area. The successful candidate’s starting pay will be determined based on job-related skills, experience, qualifications, work location, and market conditions. These ranges may be modified in the future.

Zone A: USD $92,300 - USD $138,500
Zone B: USD $85,800 - USD $128,800
Zone C: USD $78,500 - USD $117,700
Zone D: USD $69,300 - USD $103,900

To find a location’s zone designation, please refer to this resource. If a location of interest is not listed, please speak with a recruiter for additional information. 

Full-time employee benefits include the following:

• Healthcare coverage (Medical, Vision and Dental insurance)
• Health Savings Account and Flexible Spending Account
• Retirement Plans including company match 
• Employee Stock Purchase Program
• Wellness programs, including access to mental health, 1:1 financial planners, and a monthly wellness allowance 
• Paid parental and caregiving leave
• Paid time off (including 12 paid holidays)
• Paid sick leave (1 hour per 26 hours worked (max 80 hours per calendar year to the extent legally permissible) for non-exempt employees and covered by our Flexible Time Off policy for exempt employees) 
• Learning and Development resources
• Paid Life insurance, AD&D, and disability benefits 

These benefits are further detailed in Block's policies. This role is also eligible to participate in Block's equity plan subject to the terms of the applicable plans and policies, and may be eligible for a sign-on bonus. Sales roles may be eligible to participate in a commission plan subject to the terms of the applicable plans and policies. Pay and benefits are subject to change at any time, consistent with the terms of any applicable compensation or benefit plans.

We’re working to build a more inclusive economy where our customers have equal access to opportunity, and we strive to live by these same values in building our workplace. Block is a proud equal opportunity employer. We work hard to evaluate all employees and job applicants consistently, without regard to race, color, religion, gender, national origin, age, disability, veteran status, pregnancy, gender expression or identity, sexual orientation, citizenship, or any other legally protected class. 

We believe in being fair, and are committed to an inclusive interview experience, including providing reasonable accommodations to disabled applicants throughout the recruitment process. We encourage applicants to share any needed accommodations with their recruiter, who will treat these requests as confidentially as possible. Want to learn more about what we’re doing to build a workplace that is fair and square? Check out our I+D page.

Block will consider qualified applicants with arrest or conviction records for employment in accordance with state and local laws and “fair chance” ordinances. Because the material duties of this role involve direct or indirect access to sensitive personal or financial data, a criminal background check is required following a contingent offer of employment.

Block, Inc. (NYSE: SQ) is a global technology company with a focus on financial services. Made up of Square, Cash App, Spiral, TIDAL, and TBD, we build tools to help more people access the economy. Square helps sellers run and grow their businesses with its integrated ecosystem of commerce solutions, business software, and banking services. With Cash App, anyone can easily send, spend, or invest their money in stocks or Bitcoin. Spiral (formerly Square Crypto) builds and funds free, open-source Bitcoin projects. Artists use TIDAL to help them succeed as entrepreneurs and connect more deeply with fans. TBD is building an open developer platform to make it easier to access Bitcoin and other blockchain technologies without having to go through an institution.

While there is no specific deadline to apply for this role, on average, U.S. open roles are posted for 70 days before being filled by a successful candidate.