Compliance Associate – Monitoring & Testing

OppFi

11h•$71,200 - $106,800•Remote

About The Position

The Compliance Associate joins OppFi’s second-line compliance testing team and contributes to its compliance testing program. The program reviews policies, procedures, applications, loans, marketing, and communications for compliance with applicable consumer protection laws and regulations. The associate plans and executes targeted transactional testing, reviews relevant documentation including company procedures, and prepares reports on testing scope and results for senior management and bank partners. The role works with business departments and team members across the planning, execution, reporting, and follow-up phases of monitoring and testing. It assesses compliance risk, documents findings, makes recommendations, supports issue management, and contributes to improvements in the monitoring and testing program and its procedures as the business and regulations change. The role reports to the Compliance Director.

Requirements

Three years of experience in regulatory compliance or state regulatory oversight, focused on consumer lending.
Knowledge of applicable consumer financial regulations, including the Truth in Lending Act, Equal Credit Opportunity Act, Fair Credit Reporting Act, Unfair Deceptive and Abusive Acts or Practices, Servicemembers Civil Relief Act, Electronic Funds Transfer Act, Telephone Consumer Protection Act, CAN-SPAM Act, Electronic Signatures in Global and National Commerce Act, Gramm-Leach-Bliley Act, and Fair Debt Collections Practices Act.
Ability to perform root cause analysis and learn and understand technology infrastructure sufficiently to inform that analysis.
Experience designing or implementing a compliance monitoring and testing program.

Nice To Haves

Familiarity with data queries and SQL.
Experience with data tools such as Snowflake and Tableau.
Relevant knowledge gained through paralegal certification, a JD, or Certified Regulatory Compliance Manager (CRCM) certification.

Responsibilities

Perform second-line monitoring and testing against applicable state and federal regulations as part of the Compliance Management System.
Assess compliance risk by analyzing accounts, policies, procedures, marketing materials, complaints, reports, and other relevant information.
Assist with collecting data, files, and other materials for monitoring and testing.
Collaborate with business departments and team members during the planning, execution, reporting, and follow-up phases of testing and monitoring.
Assess materials, report findings, provide recommendations, and obtain review and approval when required.
Work with the Issues Management Team to ensure issues are recorded.
Assist with and draft concise reports that help business teams and management improve compliance controls and mitigate risks.
Assist senior departmental leaders and managers with process improvements for the Monitoring and Testing Program.
Monitor changes to the business to enhance testing processes.
Monitor regulatory changes and update testing procedures to ensure compliance with applicable regulations.