Customer Due Diligence Associate

JOB DESCRIPTION

Job Title: Customer Due Diligence Associate

Level: Associate

Company: FalconX Ltd

Department: Compliance

Location: Malta

Work type: Hybrid (min. 3 days from office)

COMPANY OVERVIEW

FalconX is a digital assets prime brokerage platform. We are redefining digital assets prime brokerage from the ground up. We are backed by some of the best investors in the world including Accel, American Express, GIC, B Capital, Coinbase Ventures, Fidelity, Flybridge, Lightspeed and Tiger Global.

We deliver institutional digital asset customers best-in-class trading, credit, custody and structured products. We trade, lend and secure tens of billions of dollars monthly, are highly profitable, and growing fast, so we need your help! We are data-driven. Whether it's a growth or product decision, we believe data can always help us make more precise and informed choices. We move fast. Speed of execution is essential for any startup, but we believe this is even more pertinent in our 24/7 industry. We prioritize learning. Outcomes are mission-critical, but we also believe that learning in success and in failure will drive our continued success. Our industry is emergent - there’s no shortage of experiments to get involved with and to continue growing and learning together.

FalconX has offices in the USA - San Mateo, Chicago, New York, India - Bengaluru, Malta, UK and Singapore.

FalconX Ltd was established in 2018 and has been licensed by the MFSA as a Class II Virtual Asset Service provider since 2021.. FalconX Limited is licensed as a Crypto-Asset Service Provider by the Malta Financial Services Authority pursuant to Regulation (EU) 2023/1114 on Markets in Crypto-Assets, as implemented in Malta by the Markets in Crypto-Assets Act. The Company offers spot trading services to a distinguished client base composed of reputable institutional customers and a select group of high-net-worth individuals, all of whom are recognized as professional investors and active participants in the crypto sector.

Within FalconX Ltd, the Compliance function plays a critical role in identifying, quantifying, and mitigating compliance risks, while ensuring that the Board of Directors remains fully informed of any emerging issues. This function is responsible for maintaining adherence to AML, CFT, sanctions, and other regulatory requirements applicable in Malta and across the EU. The function is led by the Chief Compliance Officer—who also serves as the Compliance Officer and MLRO. FalconX Ltd’s Compliance function also forms part of the Group’s Compliance Department and function reports to the Group’s Chief Legal and Compliance Officer.

DUTIES & RESPONSIBILITIES

The Customer Due Diligence Associate is responsible for carrying out the tasks listed below for clients onboarded to the Malta and UK entities:

Customer Due Diligence -  Reviews

• Lead the customer due diligence refresh cycles of existing clients.
• Review customer due diligence files of existing customers ensuring that documents are kept up to date and that transactions executed are in line with the profile of the customer
• Conduct enhanced due diligence (EDD) for high-risk clients.
• Monitor for sanctions, adverse media, and politically exposed persons (PEPs), ensuring that monitoring lists are maintained in accordance with regulatory requirements.
• Appropriately discount any hits identified during sanctions, adverse media, or PEP screening, providing well-documented rationale for each decision.
• Assist in the completion of the financial instrument test for new tokens, carry out sanctions screening and issues reports accordingly.
• Coordinate EDD committee meetings, serve as secretary by accurately recording meeting minutes, documenting action items, and following up with stakeholders to ensure timely completion.
• Review and assist with inbound due diligence requests from partners, and coordinate comprehensive responses.
• Carry out due diligence on banks, liquidity providers and other counterparties.
• Assist in providing information to banks and counterparties on clients transacting with such counterparties.
• Analyze complex transactions, due diligence documentation and customer financial statements.
• Assess alerts raised from the company’s transaction monitoring system to determine whether the alerted transactions are in line with the customer’s expected activity.
• Provide guidance on customer due diligence and screening processes to internal stakeholders as needed.
• Assist in delivering training to staff and Level 1 Operations within the India team.
• Extract data and contribute to the development and implementation of automated data extraction processes.
• Support the compilation of reports for the Board and regulators, including data extraction, responding to regulatory information requests, and assisting during thematic reviews.
• Respond to information requests from regulators and auditors, and provide support during thematic reviews conducted by these parties.
• Participate in meetings as required.
• Support Malta/EU Financial Crime Compliance with ad hoc AML risk control projects and management reporting.

SUCCESS FACTORS

Success in this role requires the ability to, 

• perform well under pressure and demonstrate strong written and verbal communication skills;
• proactively identify and implement opportunities to enhance productivity through process optimization and technological advancements;
• use artificial intelligence (AI) tools to enhance productivity;
• collaborate effectively with internal stakeholders, including Institutional Coverage, Sales, Business Operations, Product, Engineering, Group Compliance, and Legal teams;
• serve as an active member of FalconX’s global compliance network, making significant contributions to the overall success of the Compliance program; and
• adapt to shifting priorities and provide extended coverage, including for colleagues during absences or holidays.

Finally, given that FalconX is part of an international group operating under a follow-the-sun model, a key success factor for this role is the ability to demonstrate flexibility in the working hours as needed to support global operations and ensure seamless collaboration across different time zones.

REQUIRED SKILL

The Company is committed to providing ongoing training through both on-the-job learning and traditional programme-based training. The incumbent is expected to have, 

• 2 to 3 years of experience in a compliance, ideally within a crypto asset service provider, a financial institution, a consultancy firm, or regulatory body; 
• familiarity with the operations of the crypto, investment, or banking sectors will be considered an advantage; 
• relevant qualification in financial services or compliance is required; 
• strong verbal and written communication skills, sound judgment, and analytical abilities;
• follow-up skills and the ability to communicate clearly and promptly are essential;
• team player skills with a genuine interest in digital assets and blockchain technology; and
• enthusiasm for continuous learning and a willingness to explore new frontiers in technology and compliance.