Director of Compliance

Company: Credibly
Location: Scottsdale
Posted on: June 10, 2021

Job Description:

Who We Are:

We believe in small businesses and the people who grow them. At Credibly, we leverage cutting-edge data science, technology, partner relations, and customer support to provide business owners with accelerated access to right-sized capital solutions. From working capital loans and merchant cash advances to lines of credit and business expansion loans, we offer a suite of financing products that can accommodate nearly any stage of business development or credit profile.

The Company:

Founded in 2010 with offices in Michigan, New York, and Arizona, we have provided access to over $950 million to more than 19,000 small businesses nationwide. On top of being nominated as one of Crain's 50 fastest growing companies in New York and making several appearances on the Inc. 500 list, Credibly is annually recognized for having one of the "Best Blogs For Small Businesses" by several media outlets.

Position Overview

The Director of Compliance is responsible for the Company's compliance management program, including both its lending and internal and external collections activities. He or she serves as the Company's Compliance Officer and ensures compliance with laws and regulations governing business lending activities, business debt collection, vendor and partner management, marketing of business financial products and services, and data privacy and protection. Although the Company is not a bank and does not provide consumer credit, many of its policies and procedures are bank-level or follow consumer lending laws as best practice. This position also oversees Customer Service and may have frequent, direct interaction with customers to resolve escalated inquiries and issues.

Collections experience, as a lawyer or otherwise, is preferred but not required. Depending on the level and type of experience, this role may also assist with the negotiation and settlement of complex and/or adversarial delinquent accounts; provide legal support for the collections department; and oversee outside collections and/or defense counsel. This position also assists with special projects as required. The Director of Compliance reports to the General Counsel of the Company.

Essential Job Functions:

• On-going development, maintenance and modification of the Company's policies and procedures to ensure compliance with the applicable federal and state laws and regulations as well as industry best practices;
• Develop and implement audit compliance strategies and coordinate other compliance activities;
• Interact with supplier and strategic partner compliance departments and implement recommendations and requirements as necessary or advisable.
• Monitor changes in laws and regulations and disseminate compliance information to appropriate personnel.
• Administer an employee training program to educate employees on relevant policies, procedures, laws and regulations.
• Assist the operational departments of the Company with implementing compliance-related procedures.
• Develop and maintain a monitoring program and other preventative controls to detect and prevent potential violations of laws and regulations.
• Assist with due diligence and design efforts related to new product offerings.
• Update and review all customer-facing materials including forms, disclosures, contracts, marketing materials and more.
• Identify and documents controls for TILA, FCRA, ECOA, TCPA, SCRA and UDAAP.

Collections-related activities may include:

• Assist with litigation management for suits, counterclaims or regulatory financial services actions.
• Review, edit and approve legal pleadings and affidavits for collections actions in a variety of states to ensure compliance with the applicable laws and regulations as well as industry best practices.
• Work with business units as necessary to analyze and resolve specific customer concerns and complaints that may involve legal risk.
• Enforcement of security interests in accounts receivable and merchant processing accounts under the Uniform Commercial Code.
• Additional projects as assigned.

Education & Experience Requirements:

• Education - Bachelor's Degree. Juris Doctor and admission to practice law in at least one state preferred.
• Experience - A minimum of seven years combined lending and/or collections compliance related experience; three years of management experience preferable; experience with data privacy and data security preferable.

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