Vice President, Operational Risk & Bank Partnerships at OppFi
OppLoans is a rapidly growing Fintech company that helps credit-challenged consumers build a better financial path through accessible products and five-star customer service. As one of Chicago’s fastest-growing startups, we’ve made the Crain’s Business Chicago Fast 50 (#4 in 2019) and the Deloitte Technology Fast 500 (twice), and we’ve ranked in the top 10% of the Inc. 5000 four years in a row!
OppLoans is a team of caring and inventive “Opptimists” with diverse perspectives and backgrounds. OppLoans employees approach every new challenge with an unparalleled ability to see what could be rather than settle for what is. We want people to be excited to come to work every morning and know they are a part of something great. That’s why we prize collaboration, collegiality, and letting the best ideas win the day.What you get to do:
As our Vice President of Operational Risk & Bank Partnerships, you will lead two of our most important functions - continuing to build our "First-Line" defense organization to reduce compliance risks, and managing the relationships with our multiple bank partners.
Reporting to our Chief Operations Officer, you will be the champion of Compliance within the business by creating systems and controls and monitoring and testing our business processes & procedures, in close partnership with the Compliance team, the second-line defense. You will work with leaders across Product, Technology, Sales, Marketing, Credit, and Legal to create a culture of Compliance to protect our business. At the same time, you will be the contact for our 3 bank partners, managing the relationships.
- Build the business's "first-line" defense organization and infrastructure with a suite of systems and controls that balance minimizing compliance risk and maximizing profitability for the business. You are the intersection between Compliance and the Business.
- Create a governance framework and repository of policies, procedures, and controls that protect our business from compliance risk and exposure. Implement automated testing and monitoring systems and processes to identify issues.
- Lead the triaging and mitigating the impact of unexpected issues and events. Identify and understand the cause and size of the affected population. Design and launch a prospective solution that mitigates risk, and help affected customers.
- Together with Compliance/Legal, Product, and Technology, prioritize the roadmap of resolutions, corrective action remediation, and floor training and communication to guarantee a sound execution strategy for risk mitigation. Work with these teams to accomplish these plans.
- Redesign, standardize, and improve our processes to reduce compliance exposure. Lead with a "Customer First" mentality to improve our customer experience in the process.
- Be at home with the alphabet soup of regulation, e.g., ECOA, TILA,TCPA, FCRA, BSA, SCRA, MLA, etc. Spread the understanding of these laws across our departments and ensure we are always in lockstep with the latest rules and regulations.
- Own our Bank Partner Partnerships by overseeing our Director of Bank Partnerships and their team, helping with product development, internal and external audits, and ad hoc requests to ensure our Bank partners have what they need to grow our collective business.
- Lead our responses to regular state and federal audit examinations for each of our bank partners to ensure the audits are conducted and the findings are remediated.
- Deep experience in a Compliance, Operational Risk, or BUCO (Business Unit Compliance Officer) leadership role at a financial services company.
- Management experience leading motivated teams.
- 4+ years of first line defense business experience.
- Relationship management skills to serve as our point of contact with our bank partners.
- Possess an operational risk strategy for implementing a business framework that reduces compliance risk. Must also have implemented governance and controls.
- Project management skills to manage multiple workstreams across different teams. Experience with Monday, Jira, and/or Trello.
- Process improvement experience to help design or improve our processes and policies that balance our results with compliance risk.
- Familiarity with applicable laws and regulations in our industry (ECOA, TILA, TCPA, FCRA, BSA, SCRA, MLA, etc.).
- Experience working with Product, Operations, and Tech teams to launch programs.
- High degree of proficiency working with data. Familiarity with SQL, Periscope, Tableau, or other similar tools.
OppLoans is committed to providing an exceptional employee experience that allows you to define your career and purpose with us. New hire “Opptimists” go through orientation, shadow programs, a new hire lunch with our CEO, Jared Kaplan, and you can participate in different company culture events focused on diversity, equity, and inclusion. Our onboarding team has designed programs to make you feel welcome and part of our team during your first year and beyond.
- Define the Mission (days 1-30): You will understand our company mission, values, and vision, and how your role at OppLoans plays a part in that.
- Define your Goals (months 1-3): You will be able to understand your role expectations and identify goals with your manager and mentor(s) to fulfill those expectations.
- Define your Belonging (months 3-6): You will understand OppLoans’ culture and have opportunities to engage with and impact that culture. Employee-led communities and programs, like our wellness program Project Opptimism, are offered to help with community connection both virtually and in-person.
- Define your Journey (6 months - 1 year): You will feel confident in your abilities to execute in your role and know the next step you will take to develop your career.
OppLoans offers a flexible remote environment, 401(k) matching program, and flexible paid vacation. Other benefits include medical benefits, dental and vision coverage, and tuition reimbursement. To support your wellness, you receive a free Audible membership, access to all LinkedIn Learning courses, and monthly meditation and yoga classes. We also offer Fringe, which is a lifestyle benefits platform that lets you decide how you want to spend your rewards from dozens of vendors like Uber, Doordash and Urban Sitter. Dress code is casual.
We do not discriminate based on identity - race, color, religion, national origin or ancestry, sex (including sexual identity), age, physical or mental disability, pregnancy, veteran or military status, unfavorable discharge from military service, genetic information, sexual orientation, marital status, order of protection status, citizenship status, arrest record or expunged/sealed convictions, or any other legally recognized protected basis under federal, state, or local law.
OppLoans is committed to the full inclusion of all qualified individuals. As part of this commitment, OppLoans will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact our People team at [email protected].