Our client, Affiniti, is looking for an Associate Compliance Officer. See details below...

Associate Compliance Officer

Who We Are:

Affiniti's business model is partnering with the most trusted associations in each industry to launch customized business credit cards for their audience. Affiniti is looking to replicate what MBNA did in 2006 (launched consumer credit cards with 5,000 association partners & sold to BOA for $34B) . . . except with business cards (higher revenues & lower fraud) and FinTech. After Bank of America acquired MBNA, they lacked the expertise to manage all the custom programs, and killed the partnerships – leaving a huge gap in the market.

Affiniti has already signed 9 partners which includes the largest trade association in the United States. In total, they already have a pre-launch audience of 1.6M highly-engaged businesses within the government contracting, medical, and real estate industries ready for a tailored business credit card that truly serves their profession.

With strong backing from industry leaders such as MasterCard, Montage Ventures, Soma Capital, Odell Beckham Jr., the CEO of the Sacramento Kings, and other notable investors, Affiniti's vision is clear: to become the #1 industry-based financial operating system for each of the backbone industries of America.

Affiniti's business is designed from the ground up to solve a core dilemma: why is a construction company using the same business credit card as a private physician practice if their spending habits, business models, and payback periods are entirely different?

Responsibilities:

• Utilize extensive expertise in lending regulations to ensure Affiniti's compliance with all applicable laws, with a particular focus on consumer and small business credit cards.
• Continuously monitor all new regulations, especially those imposed by the Consumer Financial Protection Bureau (CFPB) and other relevant governing bodies. Proactively adapt Affiniti's policies and practices to comply with changes.
• Maintain continuous and effective communication with our partners, including banks, networks, vendors, and other stakeholders, to ensure alignment with compliance requirements.
• Oversee various compliance-related aspects within Affiniti, including lending operations, AML (Anti-Money Laundering) transaction monitoring, and adherence to the company's credit policy to ensure compliance with the Fair Lending Act.
• Build out and/or manage advertising policies, internal compliance training programs, internal compliance accountability policies, compliant marketing policies, vendor risk assessment policies, CIP policies, and more.
• Build procedures for handling exceptions to compliance policies (CIP, AML, Reg E, etc.) and build cardholder complaint procedures.

Qualifications:

• Minimum of 3 years of proven experience working as a compliance officer in a lending company. Specialize in compliance related to revolving credit cards, demonstrating an in-depth understanding of credit card regulations and requirements.
• Familiarity with CFPB and Fair Lending regulations (including relevant Regs), AML policies, KYB/KYC policies, the USA Patriot Act, BSA policies, and other related policies.
• Demonstrated expertise in understanding and applying lending regulations, particularly those related to consumer and small business credit cards.
• Bachelor's degree in finance, accounting, or related field preferred.
• Excellent communication and interpersonal skills to facilitate effective communication with internal teams and external partners.
• Possess a proactive and analytical approach to compliance, identifying potential areas for improvement and implementing necessary changes.
• Comfortable working in a fast-paced environment with rapidly changing regulations.
• Excellent communication and leadership skills to collaborate effectively with cross-functional teams.
• Self-motivated and able to work independently in a remote environment.