Senior Compliance Risk Manager - Product Compliance, Payments

As a Senior Compliance Risk Manager at Mercury, your primary responsibilities include collaborating closely with the Payments Product team to ensure that all payment processes, specifically ACH, Wires, and Checks, comply with relevant regulations. You'll proactively advise on compliance requirements during new product development, work cross-functionally to mitigate compliance risks, and stay abreast of changes in Nacha guidelines to ensure timely updates. Your role will also involve contributing to a culture of compliance across the organization.

To qualify for the role of Senior Compliance Risk Manager at Mercury, candidates should possess 5-7 years of experience in a compliance advisory role, ideally within the fintech or payments industry. Additionally, being a subject matter expert in Nacha compliance, having knowledge of banking payment rails, and possessing strong communication skills across various lines of business is essential. A demonstrated ability to identify compliance risks and develop strategies to effectively address them is key.

The Senior Compliance Risk Manager at Mercury plays a crucial role in ensuring that new products are developed with compliance in mind. By working directly with product teams, you facilitate the incorporation of regulatory requirements into product designs, thereby enabling teams to launch compliant products to the market effectively. Your insights on compliance risks also help in defining policies and procedures necessary for maintaining industry standards.

In the fast-evolving fintech industry, a Senior Compliance Risk Manager should possess critical thinking skills, attention to detail, and a strong understanding of regulatory frameworks. Communication and project management skills are crucial for effectively conveying compliance requirements and executing necessary compliance strategies. Furthermore, a sense of curiosity and the ability to navigate ambiguous situations will greatly benefit a compliance professional at Mercury.

The total rewards package for the Senior Compliance Risk Manager position at Mercury is highly competitive and includes a base salary, equity (stock options), and comprehensive benefits. The salary range for this role varies depending on the location and experience level, with specific figures provided for employees in different U.S. cities and Canadian locations, ensuring alignments with market standards and internal equity.

When answering this question, highlight specific roles where you managed compliance-related tasks, particularly in fintech or payments. Discuss your familiarity with regulations such as Nacha guidelines, types of compliance risks you identified, and how you addressed them. Providing examples of projects where you successfully led compliance efforts can demonstrate your practical experience.

To effectively answer, share the methods you use to stay current, such as subscribing to regulatory updates, attending industry webinars, or networking with other compliance professionals. Include specific resources or platforms where you get information about new rules and legislations, showcasing your commitment to continuous learning in the compliance domain.

In responding, narrate a scenario where you uncovered a compliance risk related to product development. Detail the analysis you conducted, how you communicated the risk to stakeholders, the options you presented to mitigate that risk, and the outcome of your initiatives. This demonstrates your capability to handle real-world compliance challenges effectively.

When answering, emphasize your organizational skills and strategic approach to prioritization. Discuss how you assess compliance urgency and significance relative to product timelines and outline what factors you consider, such as regulatory deadlines versus internal product launch dates. This gives insight into your effective time management and problem-solving skills.

Here, explain your strategies for engaging with product teams regarding compliance education. Share examples of training sessions, workshops, or one-on-one meetings where you facilitated understanding of compliance needs. Highlight the importance of clarity and open communication to foster an organizational culture that prioritizes compliance.

When responding, provide a clear overview of a compliance project where you played a leading role. Discuss the project's objectives, your specific contributions, and the metrics you used to measure success. Emphasize the positive impacts on the organization and any improvements in compliance processes as a result of your leadership.

Here, focus on your ability to distill complex regulatory information into layman's terms. Discuss techniques, such as using visual aids, analogies, or simplified language, to make compliance more accessible to all team members. Illustrate your effectiveness in facilitating better understanding and project buy-in among interdisciplinary teams.

For this question, showcase your problem-solving approach. Discuss how you'd initiate a dialogue with the team, present the importance of compliance in protecting the company and advocate for a resolution that aligns both the team's objectives and compliance needs. Your response should reflect your diplomatic skills and dedication to fostering collaboration.

In your response, mention specific compliance management tools you've used, detailing how they helped streamline compliance processes. Discuss any experiences with technology that enhances regulatory tracking or reporting, as well as your ability to adapt to new tools depending on the organization's needs.

Here, you should address your knowledge of current trends that may pose compliance challenges, such as the rapid pace of technological innovation, increasing regulations, or emerging financial crime strategies. Express your understanding of how these challenges can impact product development and the importance of proactive compliance management strategies.