Head of Consumer Compliance, Cross River
$240-270k
3 days a week in office (Fort Lee, NJ)
Banking and fintech services
Open for applications
Banking and fintech services
1001+ employees
Open for applications
$240-270k
3 days a week in office (Fort Lee, NJ)
1001+ employees
Company mission
To enable clients to deliver responsible financial solutions that empower consumers anytime, everywhere.
Role
Who you are
- Bachelor’s Degree required
- Minimum of 10+ years of Consumer compliance experience; experience working for financial institutions or highly regulated industry and/or law enforcement and investigations preferred
- Ability to manage complexity, multi-task and deliver solutions on a tight deadline
- Experience in BaaS, partner banking, and/or customer/client experience preferred
- Experience of working within a strong regulatory/control environment
- Strong communication skills, written and verbal
- Strong analytical, problem solving and organizational skills
What the job involves
- We are currently seeking a Head of Consumer Compliance to help steer and lead the team reporting into the CCO directly
- This role will have critical oversight and decision-making responsibilities while updating and reporting to leadership across the organization
- Manage enterprise-wide regulatory consumer compliance reviews; stay up to date on regulatory initiatives and monitor regulatory changes to keep review documents current; maintain proactive client relationships with department management being reviewed and is the primary liaison with respect to Consumer Compliance
- Oversight of Compliance CMS, Fair Lending, CRA, and Bank Standards and more
- Manage the Bank’s compliance monitoring and testing program, with direct responsibility of the reviews being completed timely, thoroughly, and accurately
- Provide assistance to the Chief Compliance Officer on projects, materials prepared for management and committee meetings, and other requested items as needed
- Assist in the execution of and act as key advisor for the Bank’s Regulatory Compliance Risk Assessments
- Identify compliance risk across the organization and drive and influence corresponding transformation of control environment
- Serve as lead regulatory change management subject matter expert in all aspects of the Program and oversee the implementation and operationalization of all relevant regulatory changes
- Prepare and deliver management reporting on KRIs, KPIs, and any significant developments within the Program
- Prepare and/or contribute to Board of Director reporting and training materials
- Comprehensive knowledge of federal and state banking laws including laws of consumer protection, fair lending, CRA and related laws and regulations and the ability to apply those laws and regulations to bank products and services including laws and regulations related to consumer protection, fair lending, and Community Reinvestment (CRA)
- Knowledge and experience in using analytical techniques to monitor and evaluate products and services to detect patterns of exceptions and to determine the root cause(s) of apparent exceptions of policies and procedures and applicable laws and regulations
Our take
Cross River is a fintech and banking company that builds scalable embedded payments, cards, lending, and crypto solutions for businesses and individuals. Now a unicorn company with a valuation exceeding $1 billion, Cross River was founded in 2008 as a way to combine the innovations of financial technology with the existing world of banking.
Cross River has partnered with rising fintech businesses such as Ibanera, helping the Florida-based company build an all-in-one cross-border payments service. The company’s bigger picture approach has allowed it to develop several arms in the lending, compliance, and capital market sectors, amongst others, leading to a corporate flexibility that is crucial in the rapidly-evolving market.
Cross River was named as one of several companies under investigation for facilitating PPP fraud in the US as of December 2022. It has also come under intense scrutiny from the FDIC for allegations of unsafe banking practices in relation to its lending activities, with a consent order issued in March 2023. In the wake of the FTX and Silicon Valley Bank collapses the regulatory environment is getting tougher and Cross River clearly needs to ensure its processes and activities are compliant with the law if it is going to return to its previous position of growth.
Freddie
Company Specialist at Welcome to the Jungle
Insights
Company
Funding (last 2 of 4 rounds)
Mar 2022
$620m
LATE VC
Apr 2020
$100m
SERIES C
Total funding: $848m
Company benefits
- Retirement planning
- Employee development fund
- Ongoing learning and development opportunities
- Volunteer opportunities
- Charitable donation matching
- Monthly happy hours
- Free haircuts in our salon located at HQ
- Complimentary dry cleaning at HQ
- Valet parking at HQ
- Shuttle service to/from NYC
- Gym located at HQ
- River Cafe at HQ
Company values
- Humility
- Integrity
- Creativity
- Compassion
- Responsibility
Company HQ
Fort Lee, NJ
Articles
Leadership
Gilles Gade
(CEO & Chariman)Previously CFO at First Meridian Mortgage, Co-Founder and Managing Director at Chela Technology Partners, Associate Director at Barclays Capital and Investment Banking Associate at Bear Stearns & Company.
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