Associate II - Enhanced Due Diligence, Cryptocurrency

Associate II - Enhanced Due Diligence, Cryptocurrency

Silicon Valley Bank | chicago, IL, 60628, US
Salary Range:$68,000 – $102,000 Salary range estimated by Zippia

Posted 10 days ago

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When you work with the world's most innovative companies, you know you're making a difference.

Our clients are the game changers, leaders and investors who fuel the global innovation economy. They're the businesses behind the next medical breakthroughs. And the visionaries whose new technologies could transform the way people live and work.

They come to SVB for our expertise, deep network and nearly forty years of experience in the industries we serve, and to partner with diverse teams of passionate, enterprising SVBers, dedicated to an inclusive approach to helping them grow and succeed at every stage of their business.

Join us at SVB and be part of bringing our clients' world-changing ideas to life. At SVB, we have the opportunity to grow and collectively make an impact by supporting the innovative clients and communities SVB serves. We pride ourselves in having both a diverse client roster and an equally diverse and inclusive organization. And we work diligently to encourage all with different ways of thinking, different ways of working, and especially those traditionally underrepresented in technology and financial services, to apply.


SVB’s First Line of Defense (FLOD) BSA/AML and Sanctions team is responsible for identifying, investigating and monitoring relationships that pose a money laundering or terrorist financing risk in support of all legal and regulatory requirements relating to anti-money laundering (AML) and counter terrorism financing.

As a Cryptocurrency Enhanced Due Diligence Associate, you will be a part of SVB’s First Line of Defense BSA/AML Enhanced Due Diligence KYC Team tasked with ensuring that crypto-related activity within SVB is compliant with SVBs Risk Framework, and any/all applicable regulations and guidelines. We are looking for a highly motivated individual who has a passion for the emerging crypto industry.

You will interact with peers and risk professionals, all levels of management, and other internal or external constituents to deliver comprehensive views on investigative and intelligence matters and represent reasoning of case disposition on behalf of your team. It will be critical for you to stay current with cryptocurrency developments, policy changes, seek ways to enhance current processes and controls, and communicate with your peers and partners.


As a Cryptocurrency Associate, your responsibilities include:

  • Serves as a subject matter expert on high-risk, complex crypto reviews providing recommendations based on industry best practices and regulatory/compliance standards.
  • Managing a pipeline of prospects & clients that meet SVBs business of interest industry categories for review and approval.
  • Provide expertise in assessing prelaunch or emerging crypto business models to align with internal requirements for enhanced due diligence and approval. Serve as the Point of Contact for Commercial Bank Relationship and aid in identification of prospects & existing clients that may have increased AML risk due to business model
  • Leads and champions efforts on identifying and managing existing and emerging risks identified through reviews, and ensuring these risks are effectively assessed, communicated, and controlled

  • Identifies and communicates opportunities to automate/streamline quality and compliance efforts.

  • Job Requirements:

  • A Bachelor’s degree is preferred or equivalent work experience

  • Possesses on-chain experience including interacting with deFi protocols, layer 1/layer 2 chains, NFT mints, play-to-earn gaming & general web3 activity, etc.

  • Strong crypto/blockchain knowledge to conduct thorough enhanced due diligence reviews
  • Basic working knowledge of international and regional Anti-Money Laundering and Sanctions regulations and guidance such as Bank Secrecy Act (US) and US Patriot Act
  • Interact with peers and financial crimes risk professionals, all levels of management, and other internal or external constituents to deliver comprehensive views on due diligence matters
  • Competencies:

  • Crypto-specific enhanced due diligence work experience is preferred
  • Ability and willingness to continue cryptocurrency education and stay up to date with the web3 ecosystem
  • As the crypto ecosystem is constantly evolving, the ability to pivot quickly from one priority to the next is essential
  • Ability to work independently with minimal direction and to meet deadlines

  • Ability to work collaboratively with peers and leaders to attain common goals

  • Ability to communicate effectively both in writing and orally, in person and by telephone, with all levels of the organization.
  • Strong instructing and advising skills

  • Assist the clients/prospects to ensure compliance with SVBs high risk requirements.

  • Assist with internal ongoing due diligence review escalations regarding client matters.

  • Provide training, advice, and guidance to the Commercial Bank teams.

  • Demonstrate strong knowledge of financial crimes risks and the prevention and mitigation processes and controls.

  • Strong knowledge of control frameworks and the ability to design and evaluate effectiveness of controls embedded within business processes.

  • Strong understanding of the compliance and regulatory frameworks that apply to financial institutions with an emphasis on FinCEN regulations and FFIEC guidelines.
  • Ability to assess compliance programs, processes, controls.

  • Ability to work independently, take initiative and have strong verbal and written communication skills.

  • Good time management and attention to detail are critical to this position.

  • Good analytical, research, organizational, and project management skills.
  • Strong individual contributor with the ability to work effectively as a team.
  • Flexibility in learning new topics, handling change and deadlines.
  • Must possess a bachelor’s degree or equivalent work experience. MBA or MS a plus.
  • Strong understanding of requisite Microsoft Office applications and ability to learn new internal systems quickly.

  • Minimum of 3-5 years of banking , investment, risk management, or audit experience with a minimum of 3 years of experience related to KYC and EDD for financial crimes or compliance management processes.

    The information contained herein is not intended to be an all-inclusive list of the duties and responsibilities of the job, nor are they intended to be an all-inclusive list of the skills and abilities required to do the job. This job description is intended to indicate the general nature and level of work to be performed. Duties, responsibilities and activities may change at any time with or without notice. This job description does not constitute a contract of employment and, therefore, the company may exercise its employment-at-will rights at any time.


    $46,144.00 - $86,520.00

    Actual starting base pay will be determined on skills, experience, and other non-discriminatory factors permitted by law. Total compensation may also include variable incentives, bonuses, benefits, and/or other perks, as outlined in any formal offer made.

    SVB benefit programs are designed to meet our employees where they are in life. SVBers may enroll in core benefits programs, plus take advantage of customized perks and offerings, including those designed to support families, however defined. More information regarding our benefits offerings can be found here.

    © 2022 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the chevron device are trademarks of SVB Financial Group, used under license. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group (Nasdaq: SIVB ).


    Silicon Valley Bank is an equal opportunity employer and is dedicated to expanding its commitments and investments to create a more diverse, equitable and inclusive company culture and innovation ecosystem. We are strongly committed to the values and policy of equal employment opportunity across our employment practices.

    Silicon Valley Bank UK Limited is registered in England and Wales at Alphabeta, 14-18 Finsbury Square, London EC2A 1BR, UK (Company Number 12546585). Silicon Valley Bank UK Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (Firm Reference Number 543146). Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.