Job Description

Director of Risk

Last reviewed: 1/30/25

Reports to: Head of Compliance

FLSA Status: Exempt

About Us:

Aeropay is a Chicago-based financial technology company that helps people move money with bank-to-bank (ACH) transfers. We enable businesses to accept compliant, cashless and contactless payments, giving customers a faster and safer way to spend. Backed by leading investors and powered by sophisticated and secure technology with compliance at the core, Aeropay is the best way to move money.

Position Overview:

The Director of Risk is a member of the compliance leadership team at Aeropay. This role is responsible for developing, implementing and managing Aeropay’s risk management strategies to protect our assets, uphold our reputation and ensure sustainable growth. This primarily includes ownership of the partner risk onboarding and monitoring programs and supporting the broader Aeropay risk management program. This role entails assessing partner risk exposure, establishing risk policies and fostering a culture of risk awareness throughout the organization. Aeropay’s payment partners include a range of merchants utilizing our products for payments and other use cases. The ideal candidate will possess a unique combination of traditional banking risk management — ideally at a partner/sponsor bank —in addition to expertise in FinTech innovation.

Key Responsibilities:

• Strategic Leadership :
  • Lead and mentor a team of risk management professionals, promoting their development and ensuring high-performance standards
  • Develop and execute a comprehensive partner risk management strategy aligned with the organization’s goals and objectives
  • Collaborate with senior leadership and various departments including Fraud, Compliance, Sales, Finance and Business Operations, to integrate risk management practices into strategic planning
  • Leveraging prior experience and research, be recognized as a thought leader in developing new, efficient ways of onboarding different client types
• Risk Assessment :
  • Own the end-to-end compliance & risk onboarding process, ensuring the process balances efficiency and risk management
  • Implement and execute against processes designed to confirm that partners meet Aeropay’s compliance and risk standards at onboarding and on a continuous basis
  • Identify, analyze and prioritize risk mitigation across the organization, including reputational, financial, operational, fraud, strategic and compliance risks
  • Complete onboarding reviews as needed
  • Conduct regular assessments and audits to identify potential risks and develop mitigation strategies
• Procedure & Process Development :
  • Create and maintain risk management procedures, frameworks and controls that comply with regulatory requirements and industry standards
  • Ensure requirements are communicated effectively throughout the organization and that staff are trained on risk management practices
  • Monitoring and Reporting:
  • Implement systems for continuous monitoring of risk factors and effectiveness of risk management strategies, including timeliness of reviews
  • Prepare and present regular risk reports to the executive team and board of directors, highlighting key risks and mitigation efforts

Qualifications :

• Bachelor’s degree in Finance, Business Administration, Risk Management or a related field
• 10+ years of experience in risk management, with at least 3+ years of experience in a leadership role within FinTech and/or traditional banking
• In-depth knowledge of AML legal frameworks and regulations, especially KYC/KYB
• Proven track record in developing and implementing risk management strategies that drive organizational success
• Exceptional communication and interpersonal skills

Compensation & Benefits :

• $140,000 - $170,000

Benefits Offered :

• Medical, Dental & Vision Coverage
• Flexible PTO
• 401(k) Employer Match
• Maternity/Paternity Leave

NOTE: This job description is not intended to be all-inclusive. Employees may perform other related duties as negotiated to meet the ongoing needs of the organization.

Aeropay is an equal opportunity employer and is committed to providing a workplace free from harassment and discrimination. We celebrate the unique differences of our employees because that is what drives curiosity, innovation and the overall success of our business. We do not discriminate on the basis of race, religion, national origin, gender, sexual orientation, gender identity or expression, age, marital status, veteran status, disability status, parental status, genetic history, political affiliation or any other status protected by the laws or regulations in the locations in which we operate.

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