ABOUT ITBIT
itBit is a global exchange and custodian offering institutional and retail investors a regulated platform to buy, sell and hold crypto assets. In 2015, itBit obtained a New York State trust company charter and became the first regulated Bitcoin exchange in the U.S. As a regulated financial services company based in New York City, itBit is focused on meeting the sophisticated needs of institutions, active traders and other bitcoin trading professionals.
 

We hold ourselves to a very high hiring bar. To achieve this, we think of roles first and foremost as outcomes to be achieved, not simply a description of responsibilities. We have developed what we call a ‘Success Profile’ for this role, which has two sections:
 

• Outcomes: Meaningful and measurable work products that have a significant impact on the team and business over a defined timeframe
• How to Achieve Outcomes: We have a strong point of view on how this role will succeed in achieving outcomes at itBit. So, we have taken the Operating System of itBit - our values - and made it relevant to this role.

OUTCOMES
 

• Innovate the Compliance Program to scale. This may include redesigning transaction monitoring functions, strengthening controls through policy/procedure development, and streamlining the customer onboarding approval process to promote efficiency and improve the client experience.
• Be a leader and motivator of a strong core of AML associates. This is measured by setting expectations of superior performance and developing team members to focus on execution and quality.
• Anticipate new risks to the Exchange and develop control processes to deter, detect, and investigate new red flag behavior.
• Serve a vocal leader and advocate of the Compliance Team and coordinate with other stakeholders including Operations, Legal, Business and Senior Management to triage resources and priorities to maintain stated targets (e.g., customer onboarding, compliance approvals) and regulatory obligations (e.g., SAR/STR filings).
• Able to navigate through complex and regulatory hurdles to minimize risk to the Company, including new regulations which may impact the Compliance Program.

 
HOW TO ACHIEVE THE OUTCOMES
 

Technical Acumen Required:
 

• Strong knowledge of local anti-money laundering (e.g., Bank Secrecy Act, USA Patriot Act) and sanctions regulations.
• Strong understanding of money laundering, terrorist financing, and fraud typologies, with specificity to cryptocurrency.
• Excellent project management skills, including experience in escalating priorities, balancing limited resources, and in execution.
• Experienced with regulatory exams, law enforcement inquiries, and internal audits.
• Comfort working in a fast-paced, tech-oriented environment.
• Advanced experience with Excel and data analytic tools (e.g., SiSense).

 Commitment to Excellence:
 

• Ability to continuously challenge our processes, even if recently implemented, in order to establish the proper controls to safeguard our customers and our Company.
• Willing to learn and develop into a strong compliance leader.  This may include active involvement in professional organizations and industry groups to find new ideas to implement within our Compliance Program.

Search for the truth:
 

• Establish a high level of professional skepticism to identify the greatest risks to our Company. This may include performing deep-dive investigations on our customers, transactions, and other complex issues where guidance may be minimal or the “right” answer may be sometimes unclear.

 
Self-Managing:
 

• Implement new best practices as necessary.  Take initiative and work with team members to articulate changes and ensure implementation of new policies and procedures.
• Be willing to “bubble up” concerns to raise awareness of Compliance priorities to the greater Exchange team.
• Be able to “manage up” to the Chief Compliance Officer and Senior Management to ensure proper governance of the Compliance Program. Provide routine updates on team responsibilities, challenges, and important escalations for resolution by Senior Management.

 
Willing to Be Wrong:
 

• Be willing to delegate core responsibilities. The idea is to provide opportunities for others to learn, develop, and to diversify the knowledge base. Coach others on operational failures to minimize future mistakes and provide recognition on successes. 
• Proactively escalate issues timely which may require additional support or decisioning (e.g., by the Chief Compliance Officer). Be willing to seek help, instead of holding onto issues internally.  The idea to raise awareness across the entire team to help resolve pending issues quickly, even if senior management involvement is warranted.

Respect Everyone:
 

• Ability to make focused decisions where other stakeholders (e.g., Senior Management, Business leaders, Operations, etc.) may challenge or disapprove.  Be comfortable articulating your rationale for each decision and how it may mitigate risks to our Company.
• Interact respectfully with Operations, Legal, Engineering and non-itBit team members, both in NY and Singapore

ITBIT IS AN EQUAL OPPORTUNITY EMPLOYER. IT DOES NOT DISCRIMINATE ON THE BASIS OF SEX, AGE, COLOR, RACE RELIGION, MARITAL STATUS, NATIONAL ORIGIN, ANCESTRY, SEXUAL ORIENTATION, PHYSICAL AND MENTAL DISABILITY, MEDICAL CONDITION, GENETIC INFORMATION, VETERAN STATUS OR ANY OTHER BASIS PROTECTED BY FEDERAL, STATE OR LOCAL LAW.