Compliance Manager
Full-time
Senior
Possible is a venture-backed consumer fintech that has radically reinvented small-dollar loans. We are working to lend in a more affordable and sustainable way to help people improve their financial health. Building on our success, Possible is adding two additional products in the pursuit of making financial services more fair and affordable.
Now in our 4th year, we are pleased to share we have seen serious growth, helped hundreds of thousands of customers, and have a stellar rating (100,000+ people give us an average of 4.8 stars at the app store). Our team has delivered and is making a difference.
We are now looking to expand our Compliance team with a person who will help oversee regulatory compliance of our products and services. This person will have a leadership role on the compliance team, communicating with company officers, board members, and regulators. This person will help oversee the development of policies, procedures, testing, monitoring, and training. The role combines legal compliance (understanding the laws and regulations), operational compliance (applying the laws and regulations to operational processes), and problem-solving.
Everyone at Possible works remotely from their home, and there is no requirement to be in an office or regularly travel. Seattle-based employees may choose to work in our office, which is conveniently located between Belltown and Pike Place Market. We take the safety of our teammates very seriously, and there is no expectation of travel until it is safe or until you are comfortable doing so. Compensation is highly competitive and includes equity ownership in the business, healthcare benefits, and uncapped sick and vacation days.
Responsibilities:
- Ensure Possible’s compliance with applicable laws, regulations, etc. by helping to build Possible’s compliance management system.
- Assist Director of Compliance with testing compliance with laws, regulations, etc. pertaining to Possible’s products and services.
- Identify regulatory/policy gaps, and their root causes, and work with business units to correct deficiencies.
- Draft/amend compliance-related policies and procedures.
- Review complaints, advertisements, etc. to ensure compliance/quality control.
- Assist colleagues and the company’s Bank partner with compliance-related issues such as new product development, initiatives, etc. to ensure potential compliance-related issues are adequately addressed.
- Develop and assist in the implementation of new compliance-related processes and special projects.
- Assist with management and responses to state and Bank partner examinations and audits.
This Opportunity Requires:
- 5+ years of consumer lending compliance working in a compliance or legal department at a consumer loan finance company, bank, or credit union.
- BA/BS Degree, CRCM is a plus. A JD or Paralegal Certification is not required however applicant must have the ability to research and analyze laws and regulations.
- Working knowledge of laws, regulations, and subjects applicable to consumer lending and credit card: TILA, ECOA, FCRA, UDAAP, SCRA, E-SIGN, Privacy, Identity Theft, Marketing, Fair Lending, FDCPA, EFTA, BSA/AML/OFAC, state laws, etc.
- Experience responding to and monitoring customer complaints.
- Experience with implementing a training program. Provision of live training is a plus.
- Experience completing regulatory and product risk assessments.
- Experience developing and completing monitoring and testing transactions, disclosures, etc.
- Strong verbal and written communication skills.
- Works well in fast paced, energetic environment with a ‘Roll-up your sleeves’ attitude.
- Integrity, ability to work independently and as part of a team, and strong problem-solving skills.
- Exceptional collaboration skills, and can communicate and coordinate across all teams including Product, Engineering, Design, Marketing, and Operations.
- Ability to pivot and adjust to new technologies, systems and communications platforms
- Passionate about building great compliance management systems.
About Possible:
We are a fast-growing, fully distributed, FinTech startup that believes financial health is something everyone deserves, not just the affluent. We’re committed to empowering the underserved with tools to better their economic situation. We promise to be transparent, serve with kindness, be responsible, and hold ourselves accountable for crafting positive change. Possible is backed by leading investors such as Union Square Ventures, Canvas Ventures, and FJ Labs.
Work hours:
Possible is fully distributed and has team members across the US and in Asia and Latin America. Our primary coordination hours are 9a to 3p Pacific Time.
Benefits (for US-based employees):
Joining an early-stage, venture-backed company does not mean you will sacrifice benefits. We offer excellent medical, dental, and vision coverage and pay 85% of employee premiums and 50% of eligible dependent premiums. We also offer childcare and healthcare FSAs; life and disability (short- and long-term) insurance; an Employee Assistant Program; and a 401(k) plan.
Diverse, Equitable, & Inclusive Work Environment:
Possible Finance values inclusion and believes diversity at all levels is the best way for us to accomplish our mission. We aspire to be among the industry’s most inclusive work environments and are a proud equal opportunity employer. All aspects of employment including the decision to hire, promote, discipline, or discharge, will be based on merit, competence, performance, and business needs. We do not discriminate on the basis of any status protected under federal, state, or local law.