Director, Regulatory Compliance Remote, USA - Legal, Regulatory and Compliance -
Socotra, Inc., Indiana, PA, United States
WHO WE ARE
At Trustly, we're building a smarter, faster, and more secure financial future by revolutionizing the world of payments. As a global leader in Open Banking Payments, we are establishing Pay by Bank as the new standard at checkout, providing unparalleled freedom, speed, and ease to millions of consumers and merchants worldwide. Our Ambition is to build the world’s most disruptive payment network and redefine what the payment experience should feel like. Trustly is a global team of innovators, collaborators, and doers. If you are driven by a strong sense of purpose and thrive in a dynamic, entrepreneurial, and high-growth environment, join us and be part of a team that’s transforming the way the world pays. ABOUT THE ROLE
THE DIRECTOR CONSUMER REGULATORY COMPLIANCE
is responsible for designing, implementing and overseeing the Company’s consumer compliance program. This role will work closely with the product, technology and legal teams to support compliance of all consumer-facing products and services with applicable federal and state consumer protection laws and regulatory expectations. If you are passionate about product innovation to solve consumer challenges and understand the importance of compliance by design in the product development process, this is a great role for you! The successful candidate will have extensive experience in consumer financial lending laws and regulations including FCRA, TILA (Reg Z), UDAAP, Reg E and consumer privacy laws, and must be willing to be hands on with our product, risk, legal, technology and operations teams to drive a scalable and robust compliance framework that meets all relevant regulatory requirements. WHAT YOU'LL DO
Advise the product and engineering teams, in collaboration with legal, on US licensing requirements, bank partnership options, consumer regulatory requirements, artificial intelligence standards and regulations and internal policies required to ensure that product offerings comply with applicable laws and regulation. Provide clear and actionable guidance to product development, marketing, engineering and operations teams in support of a “compliance by design” approach. Develop, implement and enhance Trustly’s regulatory compliance program to include policies, procedures, risk assessments, internal controls and training related to establishing a compliance management system that complies with consumer financial regulatory requirements. Support development of governance frameworks for BaaS partnerships including compliance responsibilities and oversight structures, program compliance requirements and controls and monitoring and reporting expectations. Support the product team through the New Business Initiatives Review process, including ensuring all risk assessments are completed and mitigation action plans addressed. Support evolution of the AML/Sanctions program to include consumer coverage including required tools, resources, workflows, etc. Ensure that the Company’s compliance management system satisfies expectations of regulators, bank partners, etc. Provide regular reports, insights and communication to management on the status of the compliance program. WHO YOU ARE
8+ years experience in regulatory compliance within the financial services industry. Experience with fintechs and consumer financial products is highly desirable Strong subject matter expertise in FCRA, TILA (Reg Z), ECOA, UDAAP, state licensing and consumer privacy laws and Reg E; JD preferred Experience with compliance management systems and risk assessment methodologies. Experience supporting BaaS and/or other types of fintech partnerships Strong analytical, problem solving and critical thinking skills Excellent written and oral communication skills with the ability to clearly explain regulatory requirements. Ability to work independently and as part of a team in a fast-paced, constantly changing environment. Effective cross-functional collaborator who can build strong relationships with the legal, product and engineering teams. $155,000.00 - $175,000.00 a year Applications for this role are accepted on an ongoing basis. Remote; U.S. Eastern or Central time zones preferred for collaboration with our global hubs. WHAT WE OFFER
Salary ranges in US-based role postings are determined by role, level, and location. The range reflects the minimum and maximum target for new hire salaries for the position across all US locations. Within the range, individual pay is determined by work location and factors including job-related skills, experience, and education or training. We provide base salary, plus bonus plans and stock options; total compensation packages include competitive salaries and benefits. Our benefits and total compensation packages outlined above are for full-time employees; some exclusions apply for temporary positions. Flexible paid time off & generous PTO accrual plans Comprehensive medical, dental, vision, and other insurances FSA & HSA plans for medical and dependent care Home office set-up allowance Internet stipend Retirement plan match for 401k and RRSP Gender-neutral paid parental leave, and more! The benefits and total compensation packages are subject to change and restrictions may apply. WHAT WE OFFER
includes a diverse, inclusive environment and equal opportunity employment. At Trustly, we embrace and celebrate diversity of all forms and the value it brings to our employees and customers. We are proud and committed to being an Equal Opportunity Employer and believe an open and inclusive environment enables people to do their best work. All decisions regarding hiring, advancement, and any other aspects of employment are made solely on the basis of qualifications, merit, and business need.
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At Trustly, we're building a smarter, faster, and more secure financial future by revolutionizing the world of payments. As a global leader in Open Banking Payments, we are establishing Pay by Bank as the new standard at checkout, providing unparalleled freedom, speed, and ease to millions of consumers and merchants worldwide. Our Ambition is to build the world’s most disruptive payment network and redefine what the payment experience should feel like. Trustly is a global team of innovators, collaborators, and doers. If you are driven by a strong sense of purpose and thrive in a dynamic, entrepreneurial, and high-growth environment, join us and be part of a team that’s transforming the way the world pays. ABOUT THE ROLE
THE DIRECTOR CONSUMER REGULATORY COMPLIANCE
is responsible for designing, implementing and overseeing the Company’s consumer compliance program. This role will work closely with the product, technology and legal teams to support compliance of all consumer-facing products and services with applicable federal and state consumer protection laws and regulatory expectations. If you are passionate about product innovation to solve consumer challenges and understand the importance of compliance by design in the product development process, this is a great role for you! The successful candidate will have extensive experience in consumer financial lending laws and regulations including FCRA, TILA (Reg Z), UDAAP, Reg E and consumer privacy laws, and must be willing to be hands on with our product, risk, legal, technology and operations teams to drive a scalable and robust compliance framework that meets all relevant regulatory requirements. WHAT YOU'LL DO
Advise the product and engineering teams, in collaboration with legal, on US licensing requirements, bank partnership options, consumer regulatory requirements, artificial intelligence standards and regulations and internal policies required to ensure that product offerings comply with applicable laws and regulation. Provide clear and actionable guidance to product development, marketing, engineering and operations teams in support of a “compliance by design” approach. Develop, implement and enhance Trustly’s regulatory compliance program to include policies, procedures, risk assessments, internal controls and training related to establishing a compliance management system that complies with consumer financial regulatory requirements. Support development of governance frameworks for BaaS partnerships including compliance responsibilities and oversight structures, program compliance requirements and controls and monitoring and reporting expectations. Support the product team through the New Business Initiatives Review process, including ensuring all risk assessments are completed and mitigation action plans addressed. Support evolution of the AML/Sanctions program to include consumer coverage including required tools, resources, workflows, etc. Ensure that the Company’s compliance management system satisfies expectations of regulators, bank partners, etc. Provide regular reports, insights and communication to management on the status of the compliance program. WHO YOU ARE
8+ years experience in regulatory compliance within the financial services industry. Experience with fintechs and consumer financial products is highly desirable Strong subject matter expertise in FCRA, TILA (Reg Z), ECOA, UDAAP, state licensing and consumer privacy laws and Reg E; JD preferred Experience with compliance management systems and risk assessment methodologies. Experience supporting BaaS and/or other types of fintech partnerships Strong analytical, problem solving and critical thinking skills Excellent written and oral communication skills with the ability to clearly explain regulatory requirements. Ability to work independently and as part of a team in a fast-paced, constantly changing environment. Effective cross-functional collaborator who can build strong relationships with the legal, product and engineering teams. $155,000.00 - $175,000.00 a year Applications for this role are accepted on an ongoing basis. Remote; U.S. Eastern or Central time zones preferred for collaboration with our global hubs. WHAT WE OFFER
Salary ranges in US-based role postings are determined by role, level, and location. The range reflects the minimum and maximum target for new hire salaries for the position across all US locations. Within the range, individual pay is determined by work location and factors including job-related skills, experience, and education or training. We provide base salary, plus bonus plans and stock options; total compensation packages include competitive salaries and benefits. Our benefits and total compensation packages outlined above are for full-time employees; some exclusions apply for temporary positions. Flexible paid time off & generous PTO accrual plans Comprehensive medical, dental, vision, and other insurances FSA & HSA plans for medical and dependent care Home office set-up allowance Internet stipend Retirement plan match for 401k and RRSP Gender-neutral paid parental leave, and more! The benefits and total compensation packages are subject to change and restrictions may apply. WHAT WE OFFER
includes a diverse, inclusive environment and equal opportunity employment. At Trustly, we embrace and celebrate diversity of all forms and the value it brings to our employees and customers. We are proud and committed to being an Equal Opportunity Employer and believe an open and inclusive environment enables people to do their best work. All decisions regarding hiring, advancement, and any other aspects of employment are made solely on the basis of qualifications, merit, and business need.
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