What are the responsibilities and job description for the Compliance Specialist position at Novo?
We are looking for a Compliance Specialist that can engage in various areas of the risk and compliance team, who understands how to take a data-driven approach to compliance, and how to effectively communicate across the organization and with external stakeholders to deliver. If you're passionate about finding the right balance of innovation and compliance for underserved markets, then we want to chat. Are you ready to revolutionize the small business banking industry with us? Are you ready to revolutionize the small business banking industry with us?
Responsibilities of the Role:
- Assist in the monitoring of the Compliance Portal, used to escalate approvals, inquiries, issues and enhancements of compliance and risk matters from other lines of business; identify, create, recommend, and implement new and/or enhanced practices.
- Contribute to the development and implementation of new and/or enhanced compliance programs and enterprise-wide initiatives.
- Research and assess new and proposed regulatory requirements (e.g., statutes, regulations, bulletins) to assist in the development of risk assessment, written program and compliance testing responsibilities
- Execute tasks accurately within timeframes allotted while working collaboratively across multiple lines of business.
- Execute and enhance a framework for completion of reporting, including reports for management and banking partners.
- With minimal supervision, perform analysis, identify trends and follow up on opportunities of enhancement.
- Partner with other members of the risk and compliance team to query various data points leveraged for third-party audit, internal compliance testing, risk assessment and other ad-hoc needs.
- Support the design, maintenance, and organization of compliance reporting libraries, shared drives, and documentation repositories.
- Explore and quickly grasp new technologies and analysis tools
- Perform control testing, document results and provide updates to the line of business, as necessary to ensure timely alignment with the annual testing schedule.
- Succinctly and clearly communicate complex fact patterns to others
- Execute necessary investigations and draft response for incoming complaints delivered through regulatory and BBB channels
- Provide support for responding to regulatory inquiries and examinations
- Other duties, as assigned
Requirements for the Role:
- At least 5 years of experience in audit, compliance, or risk management
- At least 3 years of experience supporting, partnering and interacting with internal business stakeholders
- Experience translating complex ideas and data into clear, engaging narratives across multiple formats to key stakeholders
- Understanding of compliance or risk management principles and interest in strengthening subject matter expertise across multiple compliance areas.
- Ability to work independently on complex assignments with strong analytical skills, attention to detail, and the ability to interpret regulatory information
- Strong time management, organizational, and prioritization skills, with the ability to complete multiple concurrent tasks within close deadlines and a high degree of accuracy and detail
- Ability to navigate ambiguity in a fast-changing environment, being hands-on and going beyond direct job responsibilities to help achieve success
- Desire to be a reliable partner that collaborates with multiple business stakeholders across multiple lines of business
- Excellent research and communication skills
Nice To Have, but Not Required:
- 2 years of experience within Fintech or a Sponsor/Partner Bank
- 1 years scripting experience in SQL
- Relevant coursework or certifications in compliance, risk management, or data analytics (e.g., CRCM or similar certifications).
- Experience working with data systems or reporting tools
Compensation Range: 60k - 80k
