Bright Money - Senior Manager - Compliance Partnership

Senior Manager Compliance Partnership

About Bright:

- Bright is a consumer fintech that helps Americans get out of debt, with the power of data science and machine learning.

- It is a mobile app that combines all the tools and tech needed to manage and get rid of debt.

- Bright's tools include credit score building, automated debt paydown plans, financial planning, budget planning tools, and refinance loans.

- It works with credit cards, student loans and car loans.

- Bright has had 6x growth in the last year, with 300,000 users, and more than 100,000 ratings and reviews.

- Bright is backed by three major venture capital funds (Sequoia, Falcon Edge and Hummingbird) and with top angel investors from the US, UK and India, Bright has raised +$40 million in funding to date.

- Bright has recently raised $50M in debt funding from Encina Lender Finance, for its credit business growth.

- Encina Lender Finance provides lending solutions to consumer and commercial speciality finance companies across the US and Canada.

- Today we are among the top 8 US FinTech companies.

- We will become a top-100 US financial institution, with the unique strength of data science and predictive modeling to enhance financial products for a user's life outcomes.

- We will be the first at-scale Consumer Tech company, built in India for Global markets.

About Our Founders:

- Bright was founded in 2019 by a founding team from McKinsey's Banking Practice (Petko Plachkov and AviPatchava) and InMobi Data Scientist (Avi Patchava, Varun Modi, Avinash Ramakath, Jayashree Merwade).

What is the role about?

- A Senior Manager Compliance Partnership is responsible for overseeing key operations and compliance processes for the partners.

- These are mission critical procedures that ensure adherence to requirements of our partners, regulators and stakeholders.

- Role will report to the Head of Operations and will have direct involvement with senior management and multiple functional areas of business.

Responsibilities:

Partnership Compliance Oversight:

- Manage and oversee compliance aspects of partnerships, ensuring that all third-party engagements meet regulatory and organizational standards.

- Develop frameworks to assess and monitor partner compliance, including conducting due diligence on potential partners.

Relationship Management:

- Act as the primary compliance liaison for external partners, fostering strong relationships and open communication channels.

- Work closely with partners to align their processes and practices with compliance requirements, ensuring mutual understanding and cooperation.

Compliance Risk Assessment in Partnerships:

- Conduct regular compliance risk assessments specific to partnerships, identifying potential risks associated with third-party engagements.

- Develop risk mitigation strategies tailored to the specific compliance challenges of each partnership.

Policy and Procedure Development:

- Develop and implement policies and procedures that govern partner interactions, ensuring they align with legal and regulatory requirements.

- Update and refine compliance guidelines for partnerships as regulations change or as new partnerships are formed.

Training and Support for Partners:

- Provide compliance training and resources to partners, ensuring they are fully aware of and compliant with the relevant regulations.

- Offer ongoing support to partners to help them navigate compliance challenges and maintain alignment with the organization's standards.

Monitoring and Reporting:

- Establish and manage systems to monitor partner compliance activities, including regular audits and reviews.

- Report on the compliance status of partners to senior management, highlighting key risks, issues, and areas for improvement.

Incident Resolution and Corrective Actions:

- Manage compliance incidents involving partners, including investigating breaches and coordinating with partners to resolve issues.

- Develop corrective action plans with partners to address non-compliance and prevent future occurrences.

Regulatory Engagement:

- Engage with regulatory bodies on matters related to partner compliance, ensuring that all external relationships are conducted within the regulatory framework.

- Keep abreast of regulatory changes that may impact partnerships and advise partners accordingly.

Performance Metrics and Continuous Improvement:

- Develop key performance indicators (KPIs) to measure partner compliance effectiveness and drive improvements.

- Regularly review and refine compliance processes with partners to enhance efficiency and effectiveness.

Strategic Input:

- Provide strategic input on how compliance can enhance partner relationships and drive business objectives.

- Collaborate with business development and legal teams to integrate compliance considerations into partnership strategies.

What you should bring with ?

- Bachelor's degree in law, finance, business administration, or a related field.

- A Bachelor's or Master's degree in Business Administration, Finance, Operations, Engineering or a related field is required.

- Typically, 10-14 years of experience in compliance, risk management, or a related field, with significant exposure to partnership or third-party management.

- Experience working in a fintech, financial services, or product-based company is highly desirable.

- Proven track record of managing compliance programs, especially those involving external partnerships or vendors.