Have you wanted your career to have a mission with a positive impact? Do you want an opportunity for a career, not just another job? Would you like to help build the compliance function from the ground up? Do you have a desire to work as part of a high-performance team? If so, join us at Possible!
Possible is a well-funded software company that creates innovative financial products for everyday people that are more fair and affordable than existing alternatives. Today, Possible has 80 team members across the globe, serving consumers in 13 US states and has plans to rapidly expand its services. We are looking to expand our Compliance team with a person who will help oversee regulatory compliance of our products and services. This person will have a leadership role on the compliance team, communicating with company officers, board members, and regulators. This person will help oversee the development of policies, procedures, testing, monitoring, and training. The role combines legal compliance (understanding the laws and regulations), operational compliance (applying the laws and regulations to operational processes), and problem-solving.
Everyone at Possible works remotely from their home, and there is no requirement to be in an office or regularly travel. Seattle-based employees may choose to work in our office, which is conveniently located between Belltown and Pike Place Market. We take the safety of our teammates very seriously, and there is no expectation of travel until it is safe or until you are comfortable doing so. Compensation is highly competitive and includes equity ownership in the business, healthcare benefits, and uncapped sick and vacation days.
- Ensure Possible’s compliance with applicable laws, regulations, etc. by helping to build Possible’s compliance management system.
- Assist Director of Compliance with testing compliance with laws, regulations, etc. pertaining to Possible’s products and services.
- Identify regulatory/policy gaps, and their root causes, and work with business units to correct deficiencies.
- Draft/amend compliance-related policies and procedures.
- Review complaints, advertisements, etc. to ensure compliance/quality control.
- Assist colleagues and the company’s Bank partner with compliance-related issues such as new product development, initiatives, etc. to ensure potential compliance-related issues are adequately addressed.
- Develop and assist in the implementation of new compliance-related processes and special projects.
- Assist with management and responses to state and Bank partner examinations and audits.
This Opportunity Requires:
- 5+ years of consumer lending compliance working in a compliance or legal department at a consumer loan finance company, bank, or credit union.
- BA/BS Degree, CRCM is a plus. A JD or Paralegal Certification is not required however applicant must have the ability to research and analyze laws and regulations.
- Working knowledge of laws, regulations, and subjects applicable to consumer lending and credit card: TILA, ECOA, FCRA, UDAAP, SCRA, E-SIGN, Privacy, Identity Theft, Marketing, Fair Lending, FDCPA, EFTA, BSA/AML/OFAC, state laws, etc.
- Experience responding to and monitoring customer complaints.
- Experience with implementing a training program. Provision of live training is a plus.
- Experience completing regulatory and product risk assessments.
- Experience developing and completing monitoring and testing transactions, disclosures, etc.
- Strong verbal and written communication skills.
- Works well in fast paced, energetic environment with a ‘Roll-up your sleeves’ attitude.
- Integrity, ability to work independently and as part of a team, and strong problem-solving skills.
- Exceptional collaboration skills, and can communicate and coordinate across all teams including Product, Engineering, Design, Marketing, and Operations.
- Ability to pivot and adjust to new technologies, systems and communications platforms
- Passionate about building great compliance management systems.
Why this is a Great Opportunity:
- You would have the chance to join a mission-driven, rapidly scaling software company that is backed by some of the best investors in the world.
- We have a fun and dedicated group of people with a variety of skills and backgrounds
- Possible works hard to maintain our collaborative, transparent, and results-oriented culture
- Besides the work, we all enjoy equity in the company, the flexibility of distributed work, excellent benefits, and discretionary vacation
- We’re writing what we believe is an important chapter in making access to credit more fair and affordable for a large swath of underserved customers; check out Possible’s founding story at https://www.possiblefinance.com/blog/category/possible-work/
We are a fast-growing, fully distributed fintech startup that believes financial health is something everyone deserves, not just the affluent. We’re committed to empowering the underserved with tools to better their economic situation. We promise to be transparent, serve with kindness, be responsible, and hold ourselves accountable for creating positive change. Possible is backed by leading investors such as Union Square Ventures, Canvas Ventures, and FJ Labs.
Possible is fully distributed and has team members across the US and in Asia and Latin America. Our primary coordination hours are 9a to 3p Pacific Time.
Benefits (for US-based employees)
Joining an early-stage, venture-backed company does not mean you will sacrifice on benefits. We offer excellent medical, dental, and vision coverage and pay 85% of employee premiums and 50% of eligible dependent premiums. We also offer childcare and healthcare FSAs; life and disability (short- and long-term) insurance; an Employee Assistant Program; and a 401(k) plan.
Possible is proud to be an Equal Opportunity Employer