Compliance Manager, Upstart
Loan Servicing
$137.5-190.6k
Salary dependent on location + Employee Stock Purchase Plan + Bonus
More information about location
AI lending marketplace
Posted today
AI lending marketplace
1001+ employees
Posted today
$137.5-190.6k
Salary dependent on location + Employee Stock Purchase Plan + Bonus
More information about location
1001+ employees
Company mission
To enable effortless credit based on true risk.
Role
Who you are
- Bachelor’s degree or equivalent practical experience
- 5+ years of experience in secured and unsecured loan servicing compliance, risk management or regulatory law
Desirable
- A deep understanding of federal and state consumer lending rules regulations (e.g., FDCPA, FCRA, EFTA, UDAAP, SCRA, TILA, Reg X, TCPA, NACHA, PCI DSS)
- Superior communication, organization, project management, and interpersonal skills with demonstrated decision-making capability while dealing with competing interests
- Self-starter mentality with the ability to work well under pressure and a strong sense of personal accountability and ownership
- Strong commitment to ethics and exercises good judgment
- Adaptable and flexible to changing priorities and situations
- Flexibility and willingness to learn and take on new evolving responsibilities
- JD, CRCM, or other Compliance Certifications a plus
What the job involves
- Upstart’s Loan Servicing Compliance team plays a critical role in mitigating risk and protecting Upstart’s growth and success
- As a Loan Servicing Compliance Manager at Upstart, you will have a tremendous impact on this critical team
- You’ll develop relationships of trust within the organization so that your role is a value add for the business unit
- Your relevant skills and expertise will be an integral part of the discussion when addressing ways to further enhance the Compliance Management Systems and programs at Upstart
- Coordinate with operations and product teams to design new controls and enhance existing controls
- Work with business stakeholders to craft compliance guidance, procedures and job aids that comply with regulations and implemented policies
- Partner with operations teams to drive efficiency, identify opportunities to improve processes, and build remediation plans where appropriate to resolve issues
- Review third party vendor engagements for compliance with policies and procedures
- Develop and deliver role based training to servicing teams
- Monitor servicing activities for regulatory risks, develop Compliance KRIs, and report potential risks to senior management
- Support organizational change management by acting as an internal project manager for the compliance team on strategic initiatives
Our take
Business startups across the world usually seek out funding, but this is often difficult for companies led by millenials. Millennial entrepreneurs with an excellent track record in business are increasingly requiring access to these loans, but their lack of credit history results in proposals frequently being declined.
Upstart provides loans that are aimed towards the target audience of millennials with entrepreneurial intentions, offering low interest rates that average at 12%. The company claims these rates are 10% lower than traditional lenders, and the service aims towards ensuring that the client is subject to no further fees (such as prepayment penalties).
Upstart claims that its unique selling point lies in the fact that its loans are funded the day after approval. Whilst the service focuses on personal loans for business, the company has also expanded to offer loans for car refinancing. Over 2022 and 23, Upstart's stocks fell dramatically and an investigation was undertaken by a law firm representing the company's long-term investors over alleged security law violations by its board of directors. However, the end of 2023 saw a 20% stock value rise for Upstart after its partnership with Mutual Security Credit Union led to a rise in customers, indicating that it is on the up after a difficult two years.
Freddie
Company Specialist at Welcome to the Jungle
Insights
-16% employee growth in 12 months
Company
Funding (last 2 of 6 rounds)
Apr 2019
$50m
SERIES D
Mar 2017
$32.5m
SERIES D
Total funding: $135.7m
Company benefits
- Comprehensive health plans
- 401k Plan
- Life insurance
- Disability insuranc
- Generous vacation policy
- Flexible time off
- Parental leave
- Technology equipment budget
- Personal development budget
- Various clubs and extracurricular activities
- Catered lunches
- Fully-stocked micro-kitchen
Company values
- Every second counts
- Do the right thing even when it's hard
- Make clever use of numbers
- Be smart and know you might be wrong
- Don't assume it can be done
Company HQ
South San Mateo, San Mateo, CA
Articles
Leadership
David Girouard
(CEO)They started their career at Accenture and Booz Allen & Hamilton before working in Product Management at Apple and Virage. They left their role of 8 years as President of Enterprise at Google to found Upstart in March 2012.
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