Silicon Valley Bank posted ‘financial crimes’ senior manager job listing just before closure

Silicon Valley Bank, a financial institution that serves tech companies, recently posted a job listing for a senior manager of financial crimes only days before announcing its closure.

The listing, which was posted on the bank's website on July 28, prompted speculation that the bank was aware of a potential financial crime issue before its closure.

The bank, which has been operating since 1982, announced on August 2 that it would be shuttering its operations after a “careful review” of its business.

The job listing, which was for a senior manager of financial crimes, was seeking someone with “experience in fraud and financial crimes, including investigation and analysis of suspicious activity.”

The bank had previously been facing financial troubles due to an increase in bad loans and a decline in deposits. However, the timing of the job posting has caused some to question if the bank had any knowledge of a financial crime issue prior to its closure.

The bank’s closure has left many of its customers in limbo as they now search for new banking options. Additionally, its closure has also caused a ripple effect in the tech sector as many of the bank’s clients were tech start-ups and venture capital firms.

The impact of Silicon Valley Bank’s closure and the timing of the job posting are still unknown. However, it’s clear that the sudden closure has left many of its customers and the tech sector in a difficult position.