Oportun (Nasdaq: OPRT) is a financial services company that leverages its digital platform to provide responsible consumer credit to hardworking people. Using A.I.-driven models that are built on 15 years of proprietary customer insights and billions of unique data points, Oportun has extended more than 4 million loans and over $10 billion in affordable credit, providing its customers with alternatives to payday and auto title loans. In recognition of its responsibly designed products which help consumers build their credit history, Oportun has been certified as a Community Development Financial Institution (CDFI) since 2009.
Oportun is able to provide affordable and responsible loans to traditionally unserved consumers, and score 100%of its loan applicants. Since its first loan in 2006, Oportun has saved its customers more than $1.8 billion in interest and fees when compared to other options typically available to people with little or no credit history. By reporting repayment performance to the major credit bureaus, the company has also helped more than 890,000 people begin to establish a credit history.
This position is responsible for providing advisory compliance support and developing monitoring programs for the marketing and customer lifecycle management teams. The Senior Compliance Manager will serve as the primary point of contact for reviewing all customer facing communications in both English and Spanish and ensuring that the materials align with company related policies, procedures and applicable State and Federal Lending laws. Reporting to the Compliance Advisory Director, the Senior Compliance Manager will work closely with the regulatory legal, marketing, customer lifecycle management, servicing, collections, and any operations team that creates customer communications on behalf of Oportun and any related business or bank partners.
- Advise on the regulatory impact of communication strategies for multiple consumer lending products across the lifecycle of an account.
- Review and approve customer-facing materials, advertisements, and communications for all marketing channels (direct mail, Facebook, search ads, emails, etc.) in both English and Spanish.
- Review and approve all collections and servicing communications including but not limited to delinquency notices, servicing letters, emails, text messages, and call scripts.
- Partner with Regulatory Legal and Marketing Analytics in understanding marketing selection criteria for direct mail marketing and other collateral.
- Manage the collateral reviews submission process through the company's marketing review tool for Legal and Compliance.
- Support the Regulatory Legal team in reviewing updates made to loan agreements in Spanish.
- Develop a standard process for monitoring direct mail, including but not limited to reviewing seed mail.
- Conduct social media and website reviews to ensure compliance with approved material.
- Provide advisory support in ensuring that adequate oversight over the marketing programs is implemented and adhered to.
- Work with regulatory legal counsel to develop regulatory disclosures as needed.
- Support the review of Spanish material for all products (credit card, personal loans, secured personal loans, third party service providers, etc.)
- Perform special projects, reviews and other duties as assigned.
- Bilingual and fluent in reading, writing, and speaking English and Spanish.
- 7+ years combined regulatory compliance and/or Legal experience in the consumer financial industry (marketing, originations, and servicing of consumer lending products).
- Bachelor's degree from an institution with accepted accreditation or equivalent experience.
- In-depth knowledge of consumer credit laws and regulations related to marketing, sales, credit, originations, and servicing of consumer lending products.
- Specific knowledge of key regulations including but not limited to Reg B, Reg Z, Reg E, the US PATRIOT Act, Gramm-leach Bliley Act and other privacy related laws, Reg P, TCPA, FDCPA, FCRA, and the Bank Secrecy Act.
- Strong analytical skills and ability to exercise sound judgment in development of compliance solutions.
- Strong verbal and written communication skills.
- Strong project management skills.
- Ability to work independently and respond quickly to a changing environment.
- CRCM or other Compliance Certifications a plus.