What are the responsibilities and job description for the Regulatory Compliance Specialist position at Koalafi?
Regulatory Compliance Specialist
About Koalafi
We’re one of the fastest growing consumer finance companies in America. Why? We’re making it simpler, faster, and more transparent to purchase the things you need to make your life go.
By combining smarter technology with a relentless focus on customer experience, we’re transforming the financing experience for essential life purchases in retail stores nationwide.
About the Opportunity
The Regulatory Compliance Specialist plays an important second line of defense role, to help ensure corporate initiatives and departmental processes comply with applicable laws and regulations including but not limited to State Lease to Own Laws, Regulation B, FCRA, Fair Lending, UDAAP, and Regulation Z. The Regulatory Compliance Specialist will execute a wide range of responsibilities from advising internal stakeholders to executing 2nd line Compliance testing.
Duties and Responsibilities
The duties and responsibilities of the Regulatory Compliance Specialist may vary depending on the successful candidate’s experience and abilities. The duties of this position include but are not limited to:
- Provides formal and informal guidance regarding regulatory compliance to internal stakeholders
- Performs research regarding applicable state and federal regulatory requirements
- Review company policies and procedures for regulatory and operational misalignment
- Review marketing assets and customer communications to identify regulatory risk and communicate proposed enhancements to comply with regulatory requirements
- Identify and escalate potential risk items to management quickly and efficiently
- Enable compliance data validation execution through design and execution of core data tests, review and challenge automated compliance controls and reporting logic
- Assess risk and controls through the organization’s risk and control framework
- Support lifecycle of Regulatory Change Management
- Execute internal audits as directed to test new initiatives as needed.
- Retain documents that substantiate test results.
- Triage and validate potential risk identified through Compliance testing and report clear results and proposed results to manager.
- Support lifecycle of Regulatory Change Management
- Support development and facilitation of the Vendor Management Program
- Support compliance activity in other areas and assist in ad-hoc projects as needed
About You
- Bachelor’s Degree and 5-7 years of compliance, legal or risk management experience in the consumer lending industry, supporting B2C products at a financial institution, fintech or regulatory agency
- Compliance or Risk Management certifications strongly preferred
- Project management and implementation across organizations experience
- Understanding of applicable state and federal laws and regulations applicable to consumer lending including UDAAP, Reg. B, Reg E, FCRA, BSA, TCPA, FDCPA, and Reg Z.
- Demonstrated ability to perform regulatory risk analysis, including mapping in a risk and control framework
- Ability to define risk, collect data, and draw effective conclusions
- Ability to multi-task and handle variety of projects and responsibilities
- Ability to prioritize tasks effectively in a fast-paced environment
- Strong organizational skills and conscientious attention to detail
- Expert with Microsoft Office applications
- Excellent interpersonal skills, ability to work effectively with colleagues at all levels to support multiple stakeholders, fulfilling the culture and priorities of the business
- Ability to work independently and as part of a team
- 5-7 years of consumer compliance auditing or testing experience
- Risk management experience
- Tableau experience
Things we value:
- Curiosity. Why? How?
- Nerdiness. Financial news and trends are fascinating. Seriously.
- Relentlessness. No one here gives up. We try. We fail. We try again.
- Passion. If you don’t get excited about point of sale financing, retail, and consumer empowerment, it simply won’t work.
- Smarts: Book and street. We have to use all of the tools at our disposal to build Koalafi.
- Empathy and Compassion. You understand that people's access to life essential goods and services are in your hands.
- Communication. Can you ask for help or put your hand up when you don’t understand?
- Building. Doing. Making. Yes, we have to do a lot of thinking and talking to figure this stuff out, but you can’t wait to leave the conversation and build it.
Salary : $61,600 - $78,000
