Vice President, Operational Risk & Bank Partnerships at OppFi

| Chicago
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Growth with a Purpose 

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.

Responsibilities:

  • 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.
What you will bring to the team:
  • 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.
Define your career at OppLoans

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. 
Compensation and Benefits

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.

EEOC Statement: 

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]

Pursuant to the requirements of the California Consumer Privacy Act, OppLoans is providing the "OppLoans California Employee Privacy Policy", which details the categories of personal information collected and your rights under the policy. If you are a California resident, please review the policy here: https://www.opploans.com/careers/

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Technology we use

  • Engineering
  • Product
  • Sales & Marketing
    • RubyLanguages
    • ClojureLanguages
    • Google AnalyticsAnalytics
    • ConfluenceManagement
    • JIRAManagement
    • WordpressCMS
    • SalesforceCRM

Location

OppFi is located in the heart of downtown Chicago, adjacent to Michigan Avenue and across the street from beautiful Millennium Park.
OppLoans' "People First" Ethos Inspires Employees to Make Great Tech
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What are OppFi Perks + Benefits

OppFi Benefits Overview

Fully stocked kitchen with healthy snacks & drinks available.
Subsidized daily lunches.
CTA & Metra benefit program.
Free gym membership.
Free shuttle passes to Metra stations.
Casual dress policy.
Discounted Divvy memberships.
401(k) match program.
Free OppLoans apparel.
Competitive salary and benefits package.
Fun, fast-paced work environment.
Employee and peer recognition program.
Dynamic start-up culture and environment.
Ability to make an immediate impact in a growth stage company.
Flexible paid vacation policy.
Free health benefit options.
Intramural sports leagues.
Weekly office events (happy hours, massages, game nights, private yoga sessions, catered
breakfasts, etc.).
Dual monitors and stand-up work stations.
Convenient downtown Chicago office located in the heart of the city.
Awesome panoramic office view of Millennium Park and Lake Michigan, with rooftop access.
Equal opportunity employer.

Culture
Volunteer in local community
Partners with Nonprofits
Friends outside of work
Eat lunch together
Intracompany committees
Daily sync
Open door policy
Team owned deliverables
Team based strategic planning
Group brainstorming sessions
Pair programming
Open office floor plan
Diversity
Dedicated Diversity/Inclusion Staff
Unconscious bias training
Someone's primary function is managing the company’s diversity and inclusion initiatives
Diversity Employee Resource Groups
Hiring Practices that Promote Diversity
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
Disability Insurance
Dental Benefits
Vision Benefits
Health Insurance Benefits
Life Insurance
Pet Insurance
Wellness Programs
Onsite Gym
OppLoans gym is a state-of-the-art fitness center free to all employees, and provides yoga, kickboxing and pilates classes on site.
Team workouts
Mental Health Benefits
Retirement & Stock Options Benefits
401(K)
401(K) Matching
Performance Bonus
Match charitable contributions
Child Care & Parental Leave Benefits
Generous Parental Leave
Flexible Work Schedule
Remote Work Program
Family Medical Leave
Vacation & Time Off Benefits
Unlimited Vacation Policy
Generous PTO
Paid Volunteer Time
Paid Holidays
Paid Sick Days
Perks & Discounts
Casual Dress
Commuter Benefits
Company Outings
Game Room
Stocked Kitchen
Some Meals Provided
Happy Hours
Recreational Clubs
Relocation Assistance
Fitness Subsidies
Professional Development Benefits
Job Training & Conferences
Tuition Reimbursement
Diversity Program
Lunch and learns
Cross functional training encouraged
Promote from within
Mentorship program
Continuing Education stipend
Time allotted for learning
Online course subscriptions available
Customized development tracks
Paid industry certifications

Additional Perks + Benefits

In addition to offering generous insurance benefits and 401(k) matching, we pride ourselves on a fun, collaborative and supportive company culture. Prior to COVID-19, this meant in-office events like game nights, bagel mornings and chair massages as well as semi-annual company parties. With all our teams working remotely right now, we’re holding digital events in their place, like trivia nights, Zoom cooking classes, movie nights, and coffee chats. Through our lifestyle benefits platform Fringe, employees can access discounted services that support a healthy work/life balance. We are always looking for ways to treat our employees well and show them they’re appreciated.

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