Director of Licensing and Exam Management – Remote
Collections & BPO
Our client is a rapidly growing specialized third-party payment processor and dedicated account management company for consumers enrolled in debt settlement and student loan modification programs. As an innovator, our client markets its custodial services to attorneys, debt settlement advisors, and student loan modification processors who refer their clients for payment processing and account management services.
This newly created position is a remote (work from home) opportunity. It requires a “hands-on, proactive” licensing and regulatory examinations counsel charged with managing the licensing program for the company, including building and maintaining positive relationships with regulators and examiners. The position will report to the General Counsel, Chief Risk and Compliance Officer and work closely with both compliance staff and the management team to ensure that the company meets all licensing requirements, as well as timely fulfilling all examination requests.
The individual must be an excellent communicator who is multi-skilled and possess the ability to work in a flat organizational structure. This person must be a leader, educator, and demonstrate the highest degree of integrity and ethical conduct.
- Under the direction of the General Counsel & Chief Risk and Compliance Officer (“CRCO”), provide compliance guidance and support to the business on all regulatory licensing and examination matters.
- Maintain subject matter expertise level knowledge of federal and state licensing requirements applicable to payment processing, including reporting requirements.
- Manage the application and renewal of all licenses for the company, including money transmitter licenses.
- Act as a company liaison and representative to state and federal regulatory authorities.
- Review and revise contracts, agreements, applications, and other legal documents as assigned.
- Assist the General Counsel with the corporate legal matters of the company and provide legal advise, research and opinions as requested.
- Manage compliance contractors and/or employees as necessary.
- Manage and oversee the work of outside counsel.
- Respond to federal, state, and financial institution audits and investigations, as well as civil litigation.
- Conduct periodic risk assessments, root cause analysis and response plans.
- Complete all regulatory filings, including annual reports, license renewals, and quarterly call reports.
- Conduct internal compliance monitoring and testing for licensing compliance and prepare management reports.
- Analyze risk and compliance data and prepare reports for the CRCO and management.
- Perform other duties and responsibilities as assigned by management.
- Travel as needed for in person meetings with regulators, examinations and attend conferences.
- Law Degree (JD) from an accredited law school required.
- Admitted to practice in good standing with at least one U.S. state bar.
- Minimum 5 years of relevant legal experience at a law firm and in-house as a practicing attorney.
- Minimum 3 years of experience performing licensing and exam management for a financial institution either in-house or as outside counsel.
- Preferred experience using the NMLS system.
- Preferred experience at a money service business / money transmitter licensed by state regulators.
- Knowledge of or proficiency with QuickBase, Microsoft O365, and Google G Suite is a plus.
- Strong critical thinking and analytical skills.
- Ability to communicate thoughts, ideas, and solutions logically, both written and orally.
- Proven ability to organize, prioritize and work well with others.
- Strong attention to detail, able to work independently, and as a team player.