Senior Compliance Analyst
Posted on Tuesday, September 12, 2023
Lead Bank is a chartered banking-as-a-service platform for builders and innovators. Despite broader economic headwinds, the continued proliferation of fintech companies and a 20x increase in fintech investment ($20.5 billion in 2020) signals that the market’s interest in embedding financial services products into their offerings is resilient and sustainable. Whether it’s a travel company that wants to offer credit for an expensive trip, a social network that wants to enable in-feed shopping solutions, or an ecommerce platform that wants to provide client rewards cards, the broader tech ecosystem has enjoyed a step-change in the sophistication, variety and complexity of client-facing products they can offer. This means that the underlying infrastructure powering those fintechs needs to evolve to meet these modern demands.
While fintech companies continue pushing boundaries, they have largely accepted that directly integrating with banks is costly, time-consuming and operationally burdensome. This frustration comes in many forms: gaps in technical acumen, product scalability, client risk appetite, and company culture. These gaps clearly illustrate the need for a new paradigm in banking technology.
Lead Bank is bridging those gaps. We see a massive opportunity for a tech-savvy developer-focused bank to augment a sophisticated financial services platform with the compliance, regulatory, capital markets, and legal expertise required to help our clients succeed. Come join us on our journey.
Role Description: The Senior Compliance Analyst will be responsible for assisting the Head of Compliance and the Banking as a Service (BaaS) Regulatory Compliance Manager in the delivery of the Compliance Management System (CMS). The role will have a primary focus in conducting day-to-day monitoring and compliance reviews related to the Lead’s BaaS partner programs, as well as its core lending, deposit, and operational activities. Further duties can be assigned at any time due to expanded activities from the bank, its partners, or regulators.
In this role you will:
- Work closely with the Head of Compliance, internal stakeholders and external fintech partners to provide compliance support during partner onboarding, due diligence and ongoing monitoring.
- Evaluate the overall compliance program and performance of fintech partners, and work closely with Legal, Compliance, Risk and the partners directly to address issues, gaps and evaluate product enhancements.
- Research compliance related issues, and make recommendations to enhance controls, improve policies and procedures, and reduce risk
- Review business unit and BaaS partner policies and procedures for adherence to laws and regulations and recommend changes based on risks identified or changes in laws and regulations
- Research and make regulatory recommendations as it pertains to the Bank’s BaaS program and fintech partnerships with a particular focus on consumer and commercial lending regulations.
- Assist the compliance function and BaaS partner in the development of corrective action plans associated with monitoring/review findings, as necessary
- Minimum of 4 years of bank compliance experience
- Demonstrate exceptional communication skills
- Ability to make judgements based on information provided
- Intellectually curious with the ability to issue spot and research complex issues
- Eager to learn and achieve proficiency
- Thrive working in a fluid environment with high autonomy
- Love to collaborate to get to the best, most efficient outcome
- Embody the growth mindset and bring a self-driven and self-starter mentality to your work
- Eager to learn and partner directly with innovate fintech companies
What we offer:
- At Lead, we design our benefits to support company culture and principles, to foster an efficient and inspiring work environment, and to create the conditions for our team to give their best in both work and life
- Competitive compensation, including opportunities for equity grants and cash bonus, based on experience, geographic location, and role
- Medical, Dental, Vision, Life, 401k Matching, and other wellness benefits, including FSA, HSA and HRA
- Paid parental leave
- Flexible vacation policy, including PTO and paid holidays
- A fun and challenging team environment in a dynamic industry with ample opportunities for career growth
*Lead Bank is proud to have an inclusive culture committed to ensuring equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.
*Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
*Our compensation reflects the cost of labor across several US geographic markets. The base pay for this position ranges from $88,000/year to $110,000/year. Pay is based on a number of factors including market location and may vary depending on job-related knowledge, skills, and experience.