Senior Manager of Compliance Advisory, Lending Club
$137-210k
Plus bonus (which is based on company performance, employee performance and eligible earnings) and equity
More information about location
3 days a week in office
Online personal loans
Job no longer available
Online personal loans
1001+ employees
Job no longer available
$137-210k
Plus bonus (which is based on company performance, employee performance and eligible earnings) and equity
More information about location
3 days a week in office
1001+ employees
Company mission
To transform the banking system to make credit more affordable and investing more rewarding.
Role
Who you are
- 8+ years of experience in a similar role within regulated a Banking entity either serving as a Compliance Officer, Internal Audit Function and/or Internal Controls Functions. Experience working at a large bank and/or fintech preferred. Bachelor’s degree or higher in a related field; or equivalent work experience
- Experience in providing Compliance oversight, advisory and/or testing over Bank Operations functions
- Experience in managing, overseeing, advising or testing TPRM compliance programs
- Proficient in consumer compliance and related consumer protection regulations (i.e. TCPA, FDCPA, SCRA/MLA, ECOA, EFTA, etc.), state laws and safety and soundness risks
- Demonstrated ability to manage exams, regulatory interactions and requests
- Experience in working in a fast-paced dynamic environment with the ability to manage multiple programs and projects simultaneously
- Strong leadership skills with the ability to manage multiple staff of various experience levels while also being hands on
- Familiar with and experience managing within a Compliance Management System
- Strong working knowledge of consumer protection laws and regulations and associated risks, and the internal controls needed to mitigate those risks
- Experience managing or supervising others
- Strong communication skills and the ability to influence decisions and drive change
- Self-starter with ability to think independently, take ownership, and drive initiatives to resolution
- Solid analytical, problem solving, and critical thinking skills
- Ability to handle multiple priorities in a rapidly changing environment
- CRCM or similar certification preferred
What the job involves
- LendingClub Bank’s Compliance Team is looking for an experienced Sr Manager, Compliance Advisory
- The Sr Manager will report to the Sr Director, Compliance Advisory and provide compliance oversight across TPRM & Banking Operations
- The Sr Manager will help set the Bank’s compliance risk management strategy and will work with leaders across the business to implement policies, procedures, and process controls designed to assure ongoing compliance with all applicable laws, regulations, and internal policies
- Assist in the development and maintenance of enterprise compliance policies that set forth all laws, rules and regulatory requirements to which the Bank and its employees must adhere
- Collaborate with first-line management to develop and implement operational procedures and process controls designed to ensure compliance
- Provide independent oversight of compliance risks to identify and remediate deficiencies
- Directly oversee the Bank’s compliance activities and provide Compliance Advisory to the Bank Operations Team
- Coordinate with other compliance leaders on the identification and measurement of compliance risks and the adequacy of controls to mitigate those
- Participate in discussions with senior management including within strategic priorities, risk assessments, regulatory change management, compliance monitoring and testing, training, issues management, consumer complaints, and third-party risk (particularly the Bank’s sub-servicers, partners, and service providers)
- Advise and credibly challenge Business Teams on the development and implementation of new or changes to products and services to assess compliance risks and ensure appropriate controls are in place to mitigate those risks
- Develop and present analysis and reporting to management on the status of the compliance program and material regulatory risks to senior leadership
- Serve as a point of contact for compliance audits and regulatory examinations and spearhead corrective actions and remediation efforts
- Collaborate with compliance staff and expand their regulatory knowledge and advance their skills to promote professional development and career growth
- Execute key responsibilities and make decisions on behalf of the Sr Director, Compliance Advisory in their absence or as delegated by the Deputy CCO
- Implement and maintain a compliance program for Bank Operations and Third-Party Risk Management designed to assess all regulatory risks related to consumer and commercial lending operations, including identifying gaps in controls, highlighting areas of highest risk, and developing appropriate risk mitigation strategies
- Develop and maintain policies, standards, and other documented measures to formally set forth the principles and practices of regulatory compliance related to lending and deposit operations
- Assist the Compliance Management Program Office with the development of regulation-based training and targeted role-based training covering the laws, regulations, and policy requirements related to lending and deposit operations
- Establish monitoring protocols to assess and measure operations compliance with legal and regulatory requirements and identify defects and deficiencies requiring corrective action
- Ensure compliance issues identified by any means and through any source are recorded, tracked, and reported to ensure their appropriate and timely resolution
- Liaise with examiners and auditors on reviews of the company’s efforts to comply with regulatory requirements
- Coordinate with Regulatory Change Management to identify new or changes to laws, regulations, and regulatory guidance and work with business management to operationalize requirements
- Prepare, deliver, and effectively communicate analysis and reporting regarding Bank operations compliance to oversight committees, management, and the board
- Move across functional lines within the Compliance Department to assist team members with other compliance-related responsibilities, including for example, fair lending, community reinvestment, BSA/AML, issues management, policy and procedure development, and third-party compliance oversight
Our take
Lending Club is a digital bank offering personal loans, auto loan refinancing, and debt consolidation to help individuals manage their finances. It provides flexible loan terms and competitive rates for a variety of needs, as well as high-yield saving and cash-back checking accounts, designed to help customers grow their money.
Focusing on digital solutions, Lending Club removes traditional brick-and-mortar branches, passing the savings on to customers through low fees and better rates. It connects borrowers with investors in a marketplace model and offers fast loan approvals and competitive interest rates.
To bolster its offering, the company acquired Tally Technologies' intellectual property (IP) to enhance its credit management services. It continues to develop and enhance its products and improve customer engagement in a bid to become a "top of mind" company with more active users.
Freddie
Company Specialist at Welcome to the Jungle
Insights
-8% employee growth in 12 months
Company
Funding (last 2 of 8 rounds)
Apr 2014
$65m
GROWTH EQUITY VC
Nov 2013
$57m
GROWTH EQUITY VC
Total funding: $332m
Company benefits
- Untracked vacation for salaried employees, which means take it when you need it, and generous paid time off for hourly team members
- A hybrid work model that balances in-office and work from home
- Leading health and safety protocols related to COVID, including complimentary at-home testing kits from Cue Health for those coming to the office
- Up to 16 weeks paid leave for new parents, plus a fully paid, phased return-to-work policy for qualified leaves
- Mothers Rooms and hospital-grade pumps in every LC office
- Generous and varied mental health benefits
- Wellness program with cash incentives — earn up to $75 per month for being active
- Paid volunteer time and donation matching
- Onsite gym, locker room, bike room, and fitness classes (depending on location)
- Café with our own in-house barista
- Stocked pantries with healthy snacks and drinks
- Technology-forward and collaborative office spaces
Company HQ
South Beach, San Francisco, CA
Leadership
Scott Sanborn
(CEO)Previously held leadership positions as the Chief Revenue Officer for publicly traded eHealth Insurance, President of RedEnvelope, Inc., and SVP at the Home Shopping Network. Joined LendingClub in 2010 and has worked as Chief Marketing Officer, Chief Operations Officer, and President before becoming the CEO in 2016.
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