Director of Fintech Compliance, Toast

• Bachelor’s Degree required and CRCM preferred
• Strong knowledge of financial laws and regulations, including: CFPB regulations (most specifically Reg B, Reg E, Reg P, and Reg Z); federal and state consumer protection laws (most specifically UDA(A)P, CAN SPAM, and TCPA); other laws and industry best practices related to commercial and consumer credit, prepaid debit cards, and electronic funds transactions; money transmitter laws, and card association and payment network rules
• Direct experience leading compliance programs for financial products and services, specifically payment processing, money transmission, and banking products which may include: commercial and consumer credit, purchase financing, deposit accounts, debit, credit, and stored-value cards, bill pay services, and earned wage access
• Typically requires a minimum of 15 years of related experience with a Bachelor’s degree; or 12 years and a related Master’s degree
• 10+ years of experience in a compliance, risk, or audit role at a financial institution providing commercial and/or consumer non-investment banking products (Fintech or payments industry preferred)
• Experience maintaining fintech-oriented frameworks, bank partnerships and third party vendors programs
• Familiarity with operational processes and regulations related to banking products. Ability to work well with ambiguity and synthesize large amounts of complex information
• Strong communication skills (both written and verbal)

Desirable

• Toast, Inc Seeks a strategic, commercially oriented, forward thinking Director to lead the Compliance organization supporting the Fintech business
• Reporting to the Chief Compliance Officer, the Director is responsible and accountable for establishing, managing, and maintaining quality compliance programs for Fintech products and directing the Fintech compliance team in the ongoing management of the product specific compliance management systems
• Products in scope include: commercial lending program, leases, commercial deposit account, payment facilitation, debit cards, prepaid payroll cards, earned wage access, billpay and stored value cards
• This role is also responsible for the maintenance of state money transmitter licenses and compliance with associated requirements
• Compliance leader managing compliance team supporting Fintech products
• Oversee the development and maintenance of product-specific compliance management programs within Toast's Fintech Line of Business. Direct the Fintech Compliance team on establishing best-in-class compliance management systems, mitigation of key compliance risks related to in-scope products, and the remediation of process and control gaps. Products in scope include: commercial lending program, leases, commercial deposit account, payment facilitation, debit cards, prepaid payroll cards, earned wage access, billpay and stored value cards
• Serve as a compliance thought partner to Fintech business stakeholders in the design and implementation of products/product enhancements. Guide Fintech Compliance team in product reviews to ensure regulatory compliance requirements are met
• Serve as compliance sponsor on compliance committees. Escalate key compliance risks and issues to Chief Compliance Officer and governing bodies, such as the Enterprise Risk and Compliance Committee
• Review results from compliance testing programs to identify themes or trends in findings and gaps. Mature and enhance Fintech compliance program and/or framework to address
• Ensure product specific regulatory changes are monitored and assessed, and communicated to business partners in a timely manner
• Oversee partner relationships and ensure obligations are met, including, but not limited to timely and accurate reporting and successful completion of partner reviews and required testing. Serve as an escalation point for concerns and issues raised by key partner contacts
• Maintain state money transmitter licenses and compliance with associated requirements