Compliance Testing Associate, Avant
Personal credit FinTech
Be an early applicant
Personal credit FinTech
501-1000 employees
Be an early applicant
501-1000 employees
Company mission
To empower every customer with innovative solutions designed to help them reach their goals.
Role
Who you are
- Avant is adding to our team in Chicago! We are looking for an entrepreneurial, self-driven candidate who is passionate about compliance and interested in making a difference
- Experience conducting compliance monitoring and testing, including interpreting consumer protection regulations to write compliance test scripts, gathering system data, and utilizing creative approaches to enhance testing effectiveness
- In depth knowledge of federal and state consumer protection regulations, such as TILA, ECOA, UDAAP, FCRA, FDCPA, SCRA, MLA, GLBA, EFTA, TCPA, E-SIGN, and BSA
- 4+ years of financial services regulatory compliance experience (bank experience preferred)
- Bachelor’s Degree required; JD/CRCM a plus
- Outstanding initiative, communication skills, attention to detail, and organizational skills
- Excellent communication skills and a track record of being able to interface and collaborate effectively with other departments
- Ability to multitask between complex projects in a fast paced environment
- Excellent ability to investigate, analyze, and interpret data as well as state and federal regulations
- Self-confidence, good judgment, and the ability to make sound decisions
- Strong interpersonal, analytical, and problem-solving skills
- Willingness to learn new skills and monitor aptitude development to optimize accuracy and performance
- LogicGate, SQL, Atlassian (Jira and Confluence), and/or Looker experience a plus
What the job involves
- You will be primarily responsible for conducting second line regulatory compliance monitoring and testing, supporting regulatory risk assessments, and supporting regulatory compliance training
- This role may also entail support of other compliance functions including compliance reporting and utilization of governance, risk and compliance (“GRC”) software
- In this role, you are expected to maintain a high degree of knowledge of consumer lending rules and regulations, including, but not limited to TILA, ECOA, UDAAP, FCRA, FDCPA, SCRA, MLA, GLBA, EFTA, TCPA, E-SIGN, BSA and other AML related regulations
- You will work with multiple business units to support regulatory compliance oversight of Avant’s growing product offering
- Perform targeted regulatory testing to ensure compliance with applicable regulations
- Review controls established and owned by business owners for effectiveness
- Evaluate policy, procedure, training, and processes with respect to regulatory requirements
- Partner with business units to effectively address risk identified through compliance audits
- Assist in execution of the regulatory risk assessment framework, including collaboration with various business units to identify controls and gaps in business rules and processes work with business to address findings
- Participate in team initiatives to enhance second line compliance oversight and strategic business partnership, aligned to growth and scale of the growing Avant business
Our take
Many Americans with below average credit scores are caught in a bind: they're unable to improve their score, and simultaneously cannot access traditional loans. Avant's alternative is to offer credit options that are based on machine learning and a large database to manage their risk. The business has issued over $8 billion in loans to date.
The company offers a quick credit decision and speedy access to any allotted funds. It paired up with Zero Financial in 2021, expanding its business to the digital banking space. It plans to offer a whole suite of products in a single platform, such as loans, credit cards, and deposits.
Many fintechs are looking at ways to remove the traditional barriers that people with low credit scores face when trying to take out loans. Avant is not alone in this space, but by expanding its offering to banking products as well, it has increased its customer appeal and its reach. The company has recently received a large investment from Ares Management Alternative Credit Funds, enabling it to expand its credit portfolio and further develop its platform.
Steph
Company Specialist
Insights
Few candidates hear
back within 2 weeks
-3% employee growth in 12 months
Company
Funding (last 2 of 6 rounds)
Dec 2022
$125m
GROWTH EQUITY VC
Sep 2015
$325m
SERIES E
Total funding: $779m
Company benefits
- Choice of great medical, dental, and vision insurance plan options
- 401(k) Match
- Unlimited paid time off
- Flexible work environment
- Generous paid parental leave
- Lunch allowance (Fooda) and in-office snacks
- WFH stipends for our remote employees
- Access to LinkedIn Learning for professional development
- No meeting wednesdays - (a.k.a. planned time to Get Sh!t Done)
- Summer fridays
- Fun in-office and virtual social events
- And who doesn’t love the swag
Company values
- Authenticity. We show up to work as our whole selves and make sure others can too
- Collaboration. We can only succeed when we do so as a team
- Problem-Solving. The harder the problem, the more satisfying the solution
- Customer. We are all owners of the customer experience
- Initiative. Plan. Adapt. Get Sh!t Done
Articles
Leadership
Al Goldstein
(Executive Chairman)They worked for a year at Deutsche Bank for a year, before founding Pangea Properties in 2008, and Avant in January 2013. They have been Chairman since, alongside founding Amount, Spring Labs, and StoicLane.
Paul Zhang
(CTO)Having studied at the University of Illinois, they spent a year as a Software Engineer at CashNetUSA and Enova Financial. They founded Debteye in 2011, before starting Avant in 2013, serving since 2019 as CTO.
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