What are the responsibilities and job description for the Compliance Director position at Rellevate, Inc.?
We're looking for a seasoned Compliance Director/Bank Liaison to spearhead our compliance efforts and serve as the primary point of contact between our organization and key partners, including Sutton Bank and Republic Bank. In this pivotal role, you will ensure that all Rellevate products and services adhere to the relevant legal and regulatory standards.
Key Responsibilities:
Regulatory Compliance Oversight
- Develop, implement, and maintain an effective compliance management system covering areas such as Regulation E (RegE), Anti-Money Laundering (AML), Know Your Customer (KYC), Customer Identification Program (CIP), Office of Foreign Assets Control (OFAC), and other applicable regulations
- Conduct risk assessments, identify compliance risks, and implement controls to mitigate risks
- Stay up to date with changes in laws, regulations, and industry best practices related to fintech, payments, and consumer banking products
- Ensure compliance with Bank Secrecy Act (BSA) and sanctions screening requirements
Bank Liason
- Serve as the primary point of contact and manage relationships with Sutton Bank and Republic Bank, Rellevate's program managers
- Collaborate with Banks to ensure compliance with their policies, procedures, and requirements
- Coordinate audits, examinations, and regulatory inquiries with program managers
- Provide guidance and training to program managers on compliance matters
Compliance Program Management
- Develop and maintain compliance policies, procedures, and training programs
- Conduct compliance monitoring, testing, and reviews to assess the effectiveness of the compliance program
- Investigate and resolve compliance issues, escalating to senior management and regulators as necessary
- Prepare and submit regulatory reports and filings as required
- Provide compliance advice and guidance to business units and functional areas
Qualifications
- Bachelor's degree in a related field (e.g., Finance, Accounting, Law) or equivalent experience
- Minimum of 7 years of experience in compliance, risk management, or a related field, preferably in the financial services or fintech industry
- In-depth knowledge of relevant laws, regulations, and industry best practices (e.g., RegE, AML, KYC, CIP, OFAC)
- Strong analytical, problem-solving, and decision-making skills
- Excellent communication and interpersonal skills
- Ability to work collaboratively with cross-functional teams and external stakeholders
- Proficiency in compliance management systems and related software tools