Consumer Lending and Compliance Monitoring Specialist

  • Full-time

Company Description

We believe everyone should be able to participate and thrive in the economy. So we’re building tools that make commerce easier and more accessible to all. We started with a little white credit card reader but haven’t stopped there. Our new reader helps our sellers accept chip cards and NFC payments, and our Cash app lets people pay each other back instantly. We’re empowering the independent electrician to send invoices, setting up the favorite food truck with a delivery option, helping the ice cream shop pay its employees, and giving the burgeoning coffee chain capital for a second, third, and fourth location. Let’s shorten the distance between having an idea and making a living from it. And make it easier for customers to shop and pay at their favorite businesses. We’re here to help sellers of all sizes start, run, and grow their business—and helping them grow their business is good business for everyone.

Job Description

This position is responsible for supporting and enhancing the Consumer Lending Compliance program by performing and managing the program’s regulatory monitoring function. These responsibilities include conducting monitoring tasks and enforcement of all legal, regulatory and internal compliance requirements for the consumer lending program. The Consumer Lending Compliance Specialist also consults with the Capital Compliance Officer and business leads to ensure compliance components are established and implemented for consumer lending functions performed by vendors and third parties. In addition, this position is responsible for ensuring the business is compliant with applicable laws, regulations, regulatory requirements and company policies and procedures, including but not limited to those related to OFAC sanctions, the Equal Credit Opportunity Act, UDAAP, and the Bank Secrecy Act.

You will:

  • Under the direction of the Capital Compliance Officer, develop and implement a compliance monitoring program for consumer lending

  • Monitor regulatory compliance on both a regular and periodic basis, identify gaps in controls, and propose and implement remediations by partnering with business leads and key stakeholders

  • Prepare Board of Directors compliance reports by collecting, analyzing, and summarizing information and producing accurate and reliable information for decision making

  • Support partner relationships with other companies and financial institutions in the lending program

  • Coordinate with business units in the development and implementation of policies and procedures to minimize compliance risks and ensure that compliance-related policies and procedures are being followed and updated as required

  • Track consumer complaints and investigate any resulting potential compliance matters

  • Consult with corporate attorneys as necessary to address difficult legal compliance issues

  • Provide regulatory subject matter expertise to business units with new products, services, procedures, processes, and practices to support ongoing compliance with applicable laws, rules, and regulations

  • Review communications, legal agreements, and advertising for lending products to ensure there are no violations of laws or regulations

  • Maintain superior knowledge of lending compliance laws and regulations and proactively identify emerging compliance risks

  • Assist in the review and development of compliance training as needed

  • Assist with other special projects as needed


Qualifications

You have:

  • 4-year undergraduate degree (minimum) Bachelor's Degree required

  • 3 years of experience required in consumer lending monitoring with a strong understanding in at least one of the following areas: secured personal loans, unsecured personal loans, or personal credit cards

  • Demonstrated abilities in development and implementation of new compliance policies, strategies, and work processes

  • Proven ability to understand legal and regulatory concepts and converting them into relevant, practical business requirements

  • Excellent oral and written communication.

  • Strong ability to build relationships and establish trust and credibility with business leads, financial institution partners, and regulators through collaborative and independent initiatives

  • Experience in managing multifaceted projects using strong organizational, interpersonal, and presentation skills

Even better:

  • Fair Lending program development and/or implementation experience

Additional Information

At Square, we value diversity and always treat all employees and job applicants based on merit, qualifications, competence, and talent. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status. We will consider for employment qualified applicants with criminal histories in a manner consistent with the requirements of the San Francisco Fair Chance Ordinance.

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