Payments and Lending Division
Fintech Sponsor Bank
As the Fintech Compliance Advisor embedded within this payments and alternative lending division, you will evaluate and manage adherence to federal and state rules and laws for all new partners, products, and features. You will collaborate closely with the centralized compliance function to ensure alignment with the expectations and standards of the bank’s Compliance Management Framework. If you are adept at finding compliant solutions to enable growth opportunities, you will enjoy success in this dynamic and challenging role.
- Create policies, procedures, and training to ensure compliance with relevant federal and state laws and regulations
- Collaborate closely with departmental leadership to achieve strategic goals in a compliant and efficient manner.
- Maintain regular interaction with the compliance function for projects with regulatory implications.
- Develop and supervise the material evaluation process to ensure proper regulatory scrutiny. This encompasses documentation and regulatory analysis.
- Deliver compliance insights on new or enhanced products and services.
- Engage with division and compliance leadership to strategize on adherence to laws, regulations, and guidelines for new enhancements, products, and partners.
- Lead routine meetings to address ongoing processes, monitoring and assessment needs, regulatory changes, and potential emerging risks.
- Suggest appropriate compliance education for team members and external partners.
- Assist team members in analyzing and resolving issues and concerns to guarantee timely and proper resolutions.
- Collaborate with leadership on the incorporation of product updates guided by changing regulations.
- Evaluate new products and initiatives for compliance with relevant state and federal laws, statutes, and guidance, and advise stakeholders.
- Create and implement compliance KPIs for products.
- Review the testing and monitoring processes to ensure they include and effectively monitor applicable regulatory risks. Offer guidance regarding shifting expectations and emerging risks.
- Contribute to other areas including product and system testing and development as needed.
- Observe and assess developing patterns and shifts in relevant regulations and laws affecting credit and payments products.
- Institute and carry out suitable risk assessment procedures in conjunction with the bank’s enterprise-wide regulatory and other risk assessments.
- Communicate progress updates to leadership on matters to ensure awareness and evaluate steps for resolution.
- Manage processes for appropriate record keeping and documentation of risk decisions and compliance efforts.
- Maintain up-to-date knowledge of compliance obligations related to this role and area of responsibility, and proactively learn new regulations, aiding in their implementation when necessary.
- Demonstrate and promote behaviors that uphold the bank’s values and corporate culture, fostering an atmosphere of trust, collaboration, accountability, and dedication.
- Take on and perform any additional duties and projects as identified or assigned.
- 7+ years of experience in compliance or legal functions within the banking or fintech sector, specializing in customer-facing product management.
- Profound understanding of applicable regulatory requirements: including Fair Credit Reporting Act (Reg. V), Truth in Lending Act (Reg. Z), Equal Credit Opportunity Act (ECOA), Unfair, Deceptive, and Abusive Acts and Practices (UDAAP), Electronic Funds Transfer Act (Reg. E), Truth in Savings Act (Reg. DD), and Bank Secrecy Act/Anti Money Laundering.
- Certified Regulatory Compliance Manager (CRCM) or other relevant certifications or qualifications is desirable.
- Microsoft Office proficiency.
- Proficiency in autonomous work and ability to make informed decisions about escalating matters to leadership.
- Competence in interpreting compliance requirements and identifying potential compliance consequences for different scenarios.
- Exhibit a strong work ethic, including traits such as self-motivation, time management, organizational skills, and attention to detail.
- Skill in juggling multiple projects concurrently.
- Approach tasks with a sense of urgency and adhere to set deadlines.
- Effective communication skills (both written and verbal) for conveying reports, findings, etc. pertinent to the role.