Financial Compliance Manager

Virginia Information Technologies Agency•Henrico, Virginia, VA

4d•$100,937 - $116,077

About The Position

The Financial Compliance Manager applies and interprets state cannabis financial regulations, statutes, administrative rules, policies, and reporting requirements, and advises internal teams and licensees on compliance obligations. The position conducts financial audits, risk assessments, transactional reviews, and comprehensive investigations of cannabis licensees, including onsite audits, document reviews, interviews, and analysis of financial systems and processes. Investigative work may involve accounting records, bank statements, tax filings, point-of-sale data, seed-to-sale system records, and internal controls to identify irregularities, fraud, money laundering, diversion, underreporting, or other financial misconduct. The role coordinates with enforcement, legal, licensing, and external regulatory partners; maintains investigative files and evidence documentation; and ensures investigations follow legal standards, agency procedures, and ethical guidelines. It analyzes complex financial situations, identifies risks and root causes, recommends corrective actions, and anticipates emerging patterns of noncompliance. The manager prepares objective, evidence-based investigative reports, communicates findings to relevant stakeholders, and may present them in meetings, hearings, or internal briefings. The position also supports financial compliance training and education, protects sensitive information, and performs other assigned duties. Workplace safety rules and applicable standards must be followed, unsafe conditions and work-related incidents must be reported to a supervisor, and the employee may be asked to participate in accident investigations.

Requirements

Knowledge of accounting, auditing, and financial analysis principles.
Knowledge of regulatory frameworks governing the cannabis industry.
Knowledge of anti-money-laundering concepts and financial risk indicators.
Knowledge of business operations, financial reporting systems, and internal control structures.
Strong analytical, investigative, and critical-thinking skills.
Advanced proficiency with financial software, spreadsheets, and data-analysis tools.
Excellent written and verbal communication skills.
Ability to organize, document, and manage multiple investigations.
Ability to interpret complex financial data and identify inconsistencies.
Ability to apply laws, regulations, and policies to real-world financial scenarios.
Ability to maintain strict confidentiality and work with precision and attention to detail.
Ability to work independently and collaboratively in a regulatory environment.
Ability to exercise sound judgment when recommending compliance actions.
Bachelor’s degree in accounting, finance, auditing, business administration, economics, or a related field.
Minimum of 3–5 years of experience in financial auditing, compliance investigations, accounting, regulatory enforcement, or a closely related discipline.
Experience analyzing financial statements, ledgers, transactional activity, or audit documentation.

Nice To Haves

Master’s degree in accounting, business, public administration, or a related field.
Professional certification such as CPA, CFE, CIA, CAMS, or similar credential.
Experience in a regulated industry such as banking, gaming, pharmaceuticals, cannabis, or government.
Experience conducting forensic financial investigations or risk assessments.
Familiarity with state cannabis laws, seed-to-sale tracking systems, or financial monitoring tools.

Responsibilities

Apply state cannabis financial regulations and compliance standards; interpret statutes, administrative rules, policies, and reporting requirements.
Advise internal teams and licensees about regulatory expectations and compliance obligations.
Conduct financial audits, risk assessments, transactional reviews, and comprehensive financial compliance investigations of cannabis licensees.
Review accounting records, bank statements, tax filings, point-of-sale data, seed-to-sale system records, financial systems, processes, and internal controls to identify irregularities or compliance gaps.
Use investigative techniques to detect potential fraud, money laundering, diversion, underreporting, or other financial misconduct.
Coordinate with enforcement, legal, licensing, and external regulatory partners to gather information and support cross-agency investigations.
Maintain accurate investigative files, evidence logs, timelines, and case documentation for administrative or legal actions.
Ensure investigative activities comply with legal standards, agency procedures, and ethical guidelines.
Evaluate complex or ambiguous financial scenarios, identify root causes and patterns, assess risks, and develop practical compliance solutions.
Anticipate financial risks and emerging noncompliance patterns and propose mitigation strategies.
Make timely decisions using investigative evidence and professional judgment, including when information is incomplete.
Design corrective-action recommendations that balance regulatory requirements, agency priorities, and licensee operational realities.
Prepare detailed, accurate, well-supported investigative reports describing findings, evidence, regulatory implications, and recommended actions.
Translate complex financial data into clear summaries for leadership, legal teams, enforcement partners, and decision makers.
Maintain documentation that meets audit, legal, and regulatory standards; present findings in meetings, hearings, or internal briefings.
Communicate with licensing, enforcement, legal, and partner agencies, and explain findings, compliance expectations, and remediation steps to licensees.
Support training and educational initiatives related to financial compliance.
Handle sensitive financial and business information responsibly and demonstrate impartiality, integrity, and high ethical standards.
Perform other duties as assigned; follow workplace safety requirements, report unsafe conditions and work-related incidents to a supervisor, and participate in accident investigation requests.