Job description
SUMMARY STATEMENT:
As our Fintech Lending Compliance Officer, you will be responsible for development/design and implementing, and excusion of our compliance and risk program internally and externally with our fintech lending partners.
PRINCIPLE DUTIES AND RESPONSIBILITIES
- Contribute to the ongoing development and maintenance of internal and external lending compliance programs, risk assessments and related documentation and reports.
- Work collaboratively with our fintech lending partners to enhance their compliance management systems, including reviewing and revising policies, developing standard operating procedures, and designing controls related to consumer protection compliance, and UDAAP. Additionally, collaborate with others in our Risk Department regarding complaint management, vendor management, BSA/AML, and regulatory environmental change management with respect to our fintech lending program.
- Design and document lending compliance controls that mitigate residual risk related to existing and new products and product features, specifically related to Consumer Fair Lending laws.
- Collaborate with the Fintech Lending Department during the initial sales and due diligence processes to assess risk levels of fintech lending partners prior to onboarding.
- Stay apprised of new and upcoming applicable regulations through regulatory research to ensure that the Banks and our fintech partners compliance and risk programs are current and reflect regulatory best practices and guidance.
- Participate through collaboration with the Risk Department in updating and maintaining fintech lending partners periodic reviews and risk assessments and execute process improvement initiatives to remediate identified areas of weakness.
- Create and contribute to monthly compliance reports for senior management, fintech partners, and the Board of Directors.
- Complete testing and montitoring of our fintech lending partners compliance and risk policies and procedures and prepare relevant reports.
- Assist with the design and execution of model a governance framework and related controls to actively manage the credit model risk of the Banks consumer lending products through its program partners.
- Assist with the management of regulatory examinations and internal audits related to the Fintech Lending Department and its program partners.
KNOWLEDGE, SKILLS & ABILITIES
- Previous experience performing risk assessments to inform decisions regarding policies and procedures.
- Previous experience with and working knowledge of applicable laws, regulations, and guidelines such as UDAAP, ECOA/Fair Lending, TILA, TISA, FCRA/FACTA, Privacy (GLBA / RFPA), SCRA, MLA, ESIGN, FDCPA, TCPA, CAN-SPAM, & other lending laws and regulations related to consumer lending compliance.
- Strong and effective communication with the ability to interact well with others and establish credibility and subject matter expertise
EDUCATION AND/OR EXPERIENCE
- Minimum of 5+ years of extensive, relevant experience in a lending compliance role at a fintech or regulated financial institution (e.g., MSB, MTL, bank).
- 5+ years experience with consumer lending, privacy and security regulations and ability to identify and analyze complex regulatory issues and their effect on the business.
- Bachelor's degree in business management or related field.
- CRCM designation, preferred but not required.
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