Booking Holdings (NASDAQ: BKNG) is the world leader in online travel and related services, provided to customers and partners in over 220 countries and territories through six primary consumer-facing brands – Booking.com, KAYAK, priceline, agoda.com, Rentalcars.com, and OpenTable. The mission of Booking Holdings is to make it easier for everyone to experience the world. During 2019, the Company had consolidated revenues and net income of $15.1 billion and $4.9 billion, respectively, and a current market value of approximately $60 billion.
Booking Holdings Financial Services-US (hereinafter “BHFS-US”) is based in New York City, New York and provides financial services in the form of payment services and prepaid access products across all the brands. BHFS-US is committed to conducting its business in compliance with applicable laws, regulations and guidelines, with integrity and to the highest ethical standards.
Booking Holdings Financial Services-US, is looking for a Head of State Regulatory & Exam Management with strong experience in Financial Services, specifically Money Transmission, to act as a critical partner to our business, helping develop, launch, and enable our mission to deliver a world-class payments operation to support Booking Holdings Inc’s brands. The selected candidate will have the chance to witness firsthand the investment in digital technology that helps take the friction out of travel.
The Head of State Regulatory & Exam Management will ensure compliance with all US license requirements, including but not limited to annual reporting, renewals and applications. This position will also assist the Chief Compliance Officer with all regulatory communications, interactions, exams, regulatory inquiries, etc. You’ll report directly to the Chief Compliance Officer.
Harnessing the strategic vision of the company this role will be responsible for managing the BHFS-US relationships with US State and Territory regulators. Given the collaborative nature of the business you will be consistently partnering with the brands product, operations, engineering and marketing teams to ensure you understand the intricacies of operations, in addition to the international/global compliance teams.
This opportunity represents an exceptional chance to embed yourself with one of the world’s most exciting organizations and help define the future for accessing travel experiences across the world.
The Head of State Regulatory & Exam Management will be a key part of the Compliance team and be instrumental in ensuring the organization meets its strategic objectives under the umbrella of the Booking Holdings Inc family of Brands, with a particular focus on the US.
You will provide assurance to CCO that there are effective and efficient systems, policies and procedures in place with respect to US State and Territory Money Transmission regulations, that they are well understood and respected by all employees, and that the company is complying with all regulatory requirements. The Head of State Regulatory & Exam Management will:
Act as point of contact and manage US State Regulator relationship on behalf of the CCO
Manage all US State Money Transmission exams, audits, communications, and inquiries
Monitor, Evaluate and implement regulatory change management as required
Provide all monthly activity regulatory reporting to US State regulators
Responsible for creating, implementing and training on all money transmission Policies, programs and procedures
Responsible for annual money transmission risk assessments
Manage, with assistance from partners, all issue remediation identified either externally or internally with regards to money transmission
Ensure business is compliant with all State regulatory requirements, updates, filings, renewals, payments, etc
Create, implement and manage all internal money transmission oversight and reporting for CCO and Board of Directors
Responsible for ensuring all applicable partners and agents (internally and externally) receive money transmission training
Responsible for and manage money transmission fraud investigations as required
Knowledge and Skills
8-12 years of Money Transmission Exam and Relationship management experience
Extensive knowledge of Money Transmission regulations and requirements, preferably for a MSB
Experience in implementing Money Transmission policies, programs and procedures
Experience with implementing new products with regards to Money Transmission licensing
Extensive experience working with cross functional teams including product, operations, IT, legal, audit
Extensive experience working with outside law firms for the purpose of Money Transmission