Given the importance of cryptocurrencies in financial services, the necessity for submission in the crypto space has become abundantly clear. According to a recent poll conducted in 2020, enterprises worldwide spent nearly $213 billion on expenses related to financial crime compliance. As a result, many job seekers, including prospective blockchain specialists, are looking for the best crypto compliance positions to launch their careers.

In developed countries, financial institutions spend between $45 million and $48 million a year on AML compliance. The same rule would apply to crypto compliance, and you must get ready to take advantage of openings as they arise. The following discussion gives you a summary of the top crypto compliance positions you should apply for immediately.

The Need for Crypto Compliance

Some people may be inspired to consider why they might be looking for work by searching for top cryptocurrency compliance positions. AML compliance and the world of cryptocurrency have traditionally been seen as two very different things. However, the greater rate of cryptocurrency acceptance has raised specific questions in addition to the benefits in terms of potential value.

Digital currencies are now more widely used for various transactions, thanks partly to digitization. On the other hand, the increased use of cryptocurrencies does not obscure their riskier aspects. The dark side of the cryptocurrency industry has been affected by numerous illicit activities like money laundering and terrorism financing.

Cryptocurrency transactions guarantee the anonymity of all individuals involved, expanding the potential for illegal activity using bitcoins. According to a recent study, the crypto market is the source of $76 billion in criminal activity each year. On top of that, fraudsters successfully used cryptocurrency exchanges to launder about $2.8 billion in 2019. After criminal organizations took advantage of the legislation’s intricacy, the need for most in-demand crypto compliance employment increased.

Current Crypto Compliance State

On the other hand, businesses dealing with crypto assets can benefit from the tools and services available for compliance with various regulatory frameworks and related issues. The standards outlined in the AML cryptocurrency laws are essentially what bitcoin compliance refers to. However, adding new rules necessitates a greater focus on crypto compliance.

With the growing desire for more efficient and effective anti-laundering procedures, the demand for the top bitcoin compliance jobs has risen. The Financial Action Task Force, or FATF, is the supreme body overseeing global norms to combat terrorism financing and money laundering activities.

The fifth anti-money laundering directive, which goes into effect at the start of 2020, is one of the most recent advances in crypto compliance. Firms post adverts for the most sought-after cryptocurrency compliance jobs to ensure that their operations adhere to the most current crypto compliance standards. The sixth AMLD provided a list of many charges related to self-laundering, cybercrime, environmental crime, and tax violations. It’s interesting to note that by the end of 2020, the sixth anti-money laundering directive has been adopted.

Top 10 Jobs in Crypto Compliance

In your search for crypto compliance employment, you might look for solutions to the question, “What are the highest paid compliance jobs?” Considerable justifications for looking for crypto compliance jobs are provided by the significance of crypto compliance and recent advancements in the related field. It’s also vital to remember that the pay for positions involving crypto compliance will vary according to your qualifications and expertise. On the other hand, having a thorough understanding of the best positions in crypto compliance can help you make career decisions that are right for you. Here is a list of the most critical responsibilities in crypto compliance.

1. A compliance analyst for KYC/AML

KYC/AML compliance analyst position would be the first entry among the top crypto compliance jobs currently open. The KYC/AML compliance analyst must support cryptocurrency exchanges in guaranteeing end-to-end KYC onboarding in an orderly and detail-oriented manner.

The management of institutional onboarding accounts should be in the hands of compliance experts through a thorough analysis and interpretation of business paperwork. Identification of ownership structures and business characteristics is made possible by verifying individual and corporate papers.

A KYC/AML compliance analyst must also handle red flags and sanctions. When necessary, the compliance analyst must conduct adverse media searches and due diligence procedures. Along with doing transaction analysis, another crucial duty of the compliance analyst is to regularly report the most recent trends to the compliance management teams.

2. Officer in Charge of Compliance

One of the top executive-level positions in crypto compliance is that of the Chief Compliance Officer. A Chief Compliance Officer must assist a company in creating a thorough, best-in-class compliance structure. The management team must rely on the Chief Compliance Officer (CCO) as a critical advisor to enhance current compliance frameworks and procedures.

The CCO also takes up the role of implementing and managing the investment advising compliance program linked with regulatory precedence. Generally speaking, the qualifications for the most sought-after crypto compliance positions, such as the Chief Compliance Officer, are also progressed in line with the duties. A minimum of five to seven years of professional experience in managing the compliance initiatives of financial or blockchain-based organizations are required of candidates for this position in cryptocurrency compliance.

Additionally, the CCO must be thoroughly aware of the legal requirements for registered investment advisors or RIAs. The Chief Compliance Officer must be able to collaborate with the company’s compliance, business, legal, finance, and operations groups. The Chief Compliance Officer position is one of the top bitcoin compliance positions for seasoned professionals because it is a crucial component of the management team.

3. Architect for security and compliance

The next addition among in-demand crypto compliance jobs would throw the security and compliance architect role in the limelight. A senior position focuses on creating and executing the best security and compliance architecture practices. The work also emphasizes streamlining compliance and lowering risk across the entire enterprise.

The Security and Compliance Architect position focus on protecting the blockchain network or application community and is one of the top bitcoin compliance positions. The security and compliance architect position requires practical technical expertise and strong leadership background. It would be the primary responsibility of the Security and Compliance Architect to facilitate operational security policies across the team and decentralized community while also providing information.

10 Best Crypto Compliance Jobs to gethttps://t.co/eMzDeD74QD pic.twitter.com/smvFN4QNz3

— Peter Jonathan Wilcheck (@gowilcheck) July 28, 2022

4. Associate in Crypto Facilities Operations

The position of a Crypto Facilities Operations Associate would be on the list of responses to the question “What are the highest paying compliance jobs?” The operations associate performs executive duties focusing on fostering growth and ensuring the efficient running of the crypto facilities platform. A crypto facilities management operations associate also upholds network operations’ integrity.

The candidate must keep up-to-date on corporate rules, compliance standards, and current understanding of the industry. At the same time, the operations associate must ensure that transaction reporting and other activities related to the management of cryptographic facilities comply with legal requirements.

5. Manager of Cryptocurrency Compliance

The cryptocurrency compliance manager’s responsibility is to guarantee that the operations of the crypto network comply with all applicable legal and regulatory standards. The compliance manager must be proficient in AML laws and blockchain surveillance. A cryptocurrency compliance manager’s position would be mentioned in the top crypto compliance positions list.

The compliance manager’s critical role is to manage blockchain monitoring and transaction screening processes. In the event of complex legal and regulatory difficulties, the compliance manager must conduct in-depth compliance assessments. Furthermore, the cryptocurrency compliance manager must assist with regulatory inquiries into blockchain monitoring and bitcoin transactions.

6. Compliance by the Chief of Staff

Notable mentions of the executive-level positions in crypto compliance include the Chief of Staff for Compliance. Senior executives frequently choose the Chief of Staff Compliance position since it is one of the most sought-after bitcoin compliance positions currently accessible.

A crypto exchange or company’s Chief of Staff (compliance) would be an extension of the Global Compliance Head. One of the critical responsibilities of the chief of staff for compliance would be to act as a channel or filter for information going to the global compliance head.

Candidates for this position in crypto compliance must get thoroughly acquainted with the legal requirements and institutions in the US and Europe. Along with audits and regulatory evaluations, you would also require professional knowledge in the many compliance activities.

7. Advanced Fraud Analyst

One of the noticeable additions to the list of the top crypto compliance jobs available to you is the position of a senior fraud analyst. The Senior Fraud Analyst would be responsible for conducting assessments for locating, examining, choosing, and disclosing fraudulent actions. To identify high-risk activities, you must behave as a subject matter expert with an intelligence-based strategy.

Candidates who want to work as senior fraud analysts must know about crypto asset risk management and fraud detection. Most importantly, applicants for the position of senior fraud analyst need to know about regulatory audits and crypto compliance checks.

8. Data Analyst for Compliance Systems

Another standout among the most significant technical roles for cryptocurrency compliance employment is the Compliance System data analyst. Data analysts for compliance systems must build and maintain the tools necessary to support automated regulatory reporting. They must also focus on creating and keeping up reporting systems for law enforcement organizations. Developing new compliance metrics to address new regulations is a critical duty of a compliance system data analyst.

In addition, the compliance system data analyst needs to be able to collaborate with compliance data scientists to develop fresh concepts or improve on the ones that already exist. Candidates must have a solid statistical theory foundation, experience building data warehouses, and a keen interest in crypto compliance.

9. A lawyer for compliance

One of the complete employment roles is the legal and compliance counsel for a crypto company or exchange. The most sought-after compliance roles for cryptocurrencies would also be entirely lawful roles. Various technology agreements need to be reviewed, drafted, and negotiated by experts.

A legal and compliance attorney’s primary duties are facilitating strategic and beneficial legal counsel to guarantee successful technology adoption and usage. The legal and compliance attorney must collaborate with the technology team to establish, revise, and implement business policies and processes that comply with the law. The legal and compliance attorney must also serve as the project manager for legal technology initiatives, emphasizing uniform legal analysis.

10. The Compliance Head

The most prominent position on the list of top crypto compliance positions, the Head of Compliance, is listed last. The Head of Compliance is essential to the growth of cryptocurrency exchanges and ensures that all procedures comply with the law. Creating internal crypto compliance policies, procedures, and protocols is one of the Head of Compliance’s key responsibilities.

The Head of Compliance’s duties also includes ensuring that the cryptocurrency exchange or network complies with legal precedents and regulatory regulations. The Head of Compliance can oversee vendor management procedures focusing on risk and compliance.

Also, read – Can Crypto Compliance Protect Crypto Trading For The Traders

Last Words

The final summary of the top bitcoin compliance jobs implies that compliance with cryptocurrencies is necessary. People are less likely to trust new blockchain-based solutions and cryptocurrency exchanges without crypto compliance. As a result, companies developing cryptocurrencies and blockchain-based solutions must hunt for experts in crypto compliance.

The most crucial thing to remember is that crypto compliance is not a one-person job. A business would need to rely on various crypto compliance employment types. Why? Regulations and regulatory standards surrounding cryptocurrency have become increasingly complicated. As a result, you can search for and prepare for a job in crypto compliance that suits your preferences.