Senior Manager/Director of Compliance

The Petal Mission

Petal’s mission is to expand access to opportunity, by making responsible, modern financial services available to everyone. Founded in 2016, Petal provides technology-enabled credit cards to consumers who are historically underserved by mainstream providers. 

Petal pioneered automated cash flow underwriting, a transformative new approach to assessing consumer creditworthiness with the potential to expand access to tens of millions of U.S. consumers without credit history, or for whom traditional credit scores do not tell the whole story. Petal pairs this groundbreaking, data-driven underwriting technology with a mobile-first, digitally native product experience designed to help users manage and build credit responsibly. For Petal, it’s a mission as much as it is a business—with a goal to reimagine finance for the next generation of consumers. 

At Petal, we're looking for people with kindness, positivity, and integrity. You're encouraged to apply even if your experience doesn't precisely match the job description. Your skills and potential will stand out—and set you apart—especially if your career has taken some extraordinary twists and turns. At Petal, we welcome diverse perspectives from people who think rigorously and aren't afraid to challenge assumptions.

The Compliance team

We’ve set an ambitious goal for ourselves – spurring innovation in a highly-regulated environment with the introduction of a first-of-its-kind, consumer-centered credit card. From the beginning, we’ve believed that doing this the right way requires the support of seasoned compliance professionals who exhibit a combination of creativity, deep analytical skills, and regulatory and product expertise. 

The Senior Manager /  Director of Compliance role 

In such a highly regulated industry as consumer credit, a smart and well-executed Compliance program can be a competitive advantage.  We’re looking for a Senior Manager / Director of Compliance to be a senior leader within the Compliance department and company. The Senior Manager / Director of Compliance will ensure the execution of critical, time-sensitive operations with diligence, efficiency, and precision.  The successful candidate will exhibit pragmatism, collaborate with other business stakeholders, and possess a strong grasp of the ever-evolving regulatory landscape. In addition, we are seeking a proactive and outcomes-oriented person who can keep pace with the quick twists and turns of our business, wear multiple hats, including acting as both player and coach, and get others to support and advance the Compliance agenda. 

This role can be located in our RVA or Virtual offices. 

Key responsibilities:

• Manage Petal’s Quality Assurance and Monitoring & Testing teams ensuring timely execution of all program deliverables. 
• Implement Petal’s Policy and Procedure program and responsible for timely execution of all program requirements. 
• Manages Petal audits and examinations, including coordination with senior leadership concerning management responses and required program enhancements.  
• Assist in the execution of partner bank’s required programmatic compliance deliverables.
• Provide subject matter expertise and guidance on consumer-facing financial regulations (FCRA, UDAAP, Regulation Z, Regulation P, MLA/SCRA, ECOA, etc.).
• Communicate significant issues to management; make recommendations when weaknesses are identified; recommend enhancements and process improvements. 
• Research and report on regulatory developments and make suggestions with respect to related compliance policy and procedure enhancements.

Characteristics of a successful candidate:

• 8+ years professional work experience in consumer compliance advisory and or/consumer transaction monitoring mandatory.
• 3+ years management experience leading a team of Compliance professionals, as well as leading Compliance program pillars: monitoring and testing, quality assurance, policy and procedure management, and audits and exams.  
• Ability to apply pragmatism and strong problem-solving skills when working with business stakeholders within and outside the company.  Strong drive for outcomes. Quick learner who can work towards creative solutions.
• Compelling communication skills, both verbal and written.  Strong listener. Conveys complex messages in a simple way.  Writes clear and concise reports.
• Independent initiative-taking.  Willingness to roll up sleeves to handle and resolve operational gaps and challenging initiatives. Strong organization and attention to detail.
• Comfort in a fast-moving environment with continuous change, challenges and deadlines. Ability to integrate into a company that prioritizes ideas and reason over hierarchy and experience.

Nice-to-haves:

• Experience presenting / speaking to Board and C-Suite level executives.
• Experience in a rapidly growing fintech, consumer finance business or bank.
• Experience with BSA/AML compliance.
• Experience within a credit card issuer / consumer lender.
• Experience in public policy advocacy work relevant to Petal’s business
• J.D.

We are an equal opportunity employer, and we are committed to building a team culture that celebrates diversity and inclusion. We’re proud to be different, together.

Petal provides standard ranges in order to be compliant with local legislation as well as to provide greater transparency to candidates. The compensation information provided here is based on a good faith estimate at the time of this job posting. 

The salary range for this position is $127,500 - $220,000. Ranges are based on function, level, and office location, and are benchmarked against similar stage companies. Exact compensation amounts are determined by multiple factors including but not limited to skill set, level of experience, and office location, and may vary above or below from the amounts listed above.  

The salary range listed is just one component of Petal’s total compensation package for employees. This position may also be eligible for equity awards, annual bonuses, short- and long-term incentives, and program-specific awards in accordance with the terms of Petal’s variable compensation plans.

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