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Open nowPosted 27 days ago

Lending Compliance Counsel (Remote)

TruStage29 open roles

Pay
$99,800 – $149,700 a year
Where
Remote - USA
Work mode
Remote
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Your applicationOpen nowLending Compliance Counsel (Remote)TruStage · Remote - USA
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The clock on this job

Early applications get read.

13.4% of postings close within 7 days. Measured by our own scanner across the market. TruStage postings stay open a median of 22 days.

Share of postings closed within
  1. 2.2%1 day
  2. 4.6%3 days
  3. 13.4%7 days
  4. 21.6%14 days
  5. 36.2%30 days
  6. 59.0%60 days
This job: posted 27 days ago

TruStage median: 22 days open

The posting

At TruStage, we’re on a mission to make a brighter financial future accessible to everyone. We put people first, and work hand in hand with employees and customers to create a diverse and inclusive environment. Passionate about building insurance and financial services solutions, we push the boundaries of what’s possible. We need you to help us shape what’s next. You’ll be encouraged to share your experiences, ideas and skills to help others take control of their financial future.

Join a team that has received numerous awards for being a top place to work: TruStage awards and recognition

Job Purpose: This role applies legal, regulatory, compliance, and financial services product expertise to support the design, maintenance, testing, and delivery of compliant Compliance Solutions products and solutions. The position researches and interprets federal and state legal and regulatory requirements, translates those requirements into clear product functionality, business rules, data requirements, documentation, and testing expectations, and helps ensure that products create legally enforceable instruments and support compliant use by banks, credit unions, fintechs, and other financial services clients.

Job Responsibilities:

  • Assists in ensuring that Compliance Solutions content complies with federal laws and regulations, other governing authority requirements, and industry best practices, and that it creates enforceable legal instruments.
  • Assists in ensuring that products and solutions meet or exceed the wants and needs of current and prospective clients and business partners.
  • Assists in defining product functionality, including language, data, and software functionality, product/release documentation, and all business rules required by the market.
  • Assists in identifying, creating and maintaining all required data including its structure and metadata, to drive compliant, warranted functionality of products that satisfies market needs and industry best practices.
  • Assists in conducting product testing and review to evaluate changes and ensure development work conform to product requirements defined.
  • Assists in providing support for both internal and external inquiries about assigned product matters.
  • Assists in proactively educating internal staff, current and prospective business partners and clients on product design, upcoming product updates and development efforts, and industry trends.
  • Participating in any product team initiative or special project(s), as needed.

Position Specific:

  • Under the direction of the Team Lead and/or Product Manager, with increasing autonomy, ensures that Compliance Solutions content complies with federal laws and regulations, other governing authority requirements, and industry best practices, and that it creates enforceable legal instruments.Research, analyze, and interpret applicable federal and state statutes, regulations, agency guidance, case law, enforcement trends, and industry best practices impacting Compliance Solutions products. Monitor legal and regulatory developments and assess their impact on product content, legal instruments, disclosures, business rules, calculations, data fields, workflows, documentation, and client-facing functionality. Perform thorough and timely analysis of Research Engine pings and accurately identify required changes to products and solutions. Monitor quality of Research Engine pings and identify and suggest improvements to Team Lead to ensure all applicable legal and regulatory requirements are covered. Assess market demand and competitive products and related industry developments and proactively suggest product changes and new opportunities to Team Lead. Analyze priority of identified changes and proactively communicate the proposed change and priority to Team Lead.
  • Under the direction of the Team Lead and/or Product Manager, with increasing autonomy, ensures that products and solutions meet or exceed the wants and needs of current and prospective clients and business partners.Review and analyze applicable federal and state statutes, regulations, and other resources and effectively communicate with clients, internal staff, and business partners on legal, regulatory, industry best practices, or other product questions or issues. Proactively identify, analyze, and implement changes to existing Products and content, and identify new products and content that lead to increased diversification and profitability for Compliance Solutions. Review and respond to logged issues (e.g., IRs) and pending requests for changes in a timely manner. Evaluate feasibility and define business case new product functionality prior to initiating a product change. Understand and analyze how the business partner's integration method relates to the requested change and product updates. Analyze product related information from all functional groups within Compliance Solutions, from business partners and clients and from review of competitive offerings and emerging industry trends. Create and deliver products that exceed industry core competencies by creating, supporting, and advancing industry best practices. Participate in discussions with clients, internal staff, and business partners to understand the ramifications associated with each request for change.
  • Under the direction of the Team Lead and/or Product Manager, with increasing autonomy, assists in defining product functionality, including language, data, and software functionality, product/release documentation, and all business rules required by the market.Draft clear and concise written product requirements that accurately describe the required functionality and content. Define full scope of any change or product update to ensure requirements are complete and timely. Identify any product requirement issues (e.g., open issues, blockers) requiring resolution from or impacting other functional groups. Escalate any critical issues related to product requirements. Identify all impacted product components and specify the required change for each component. Identify all transaction scenarios where product updates apply and ensure these are covered or addressed in the written requirements Create accurate required product documentation (e.g., change records) for internal and external users. Complete all information required in the product requirements template in a timely manner Address, in a timely manner, any product requirements modifications required arising from quality control tests and transaction analysis.
  • Under the direction of the Team Lead and/or Product Manager, with increasing autonomy, assists in identifying, creating and maintaining all required data including its structure and metadata, to drive compliant, warranted functionality of products that satisfies market needs and industry best practices.Understand what and how data is used within assigned subject or product and its effect or impact to related transactions. Create and maintain the data and associated metadata (e.g., labels, short help, long help, mapping path etc.) for assigned product requirements adhering to data management conventions and protocol (i.e., content protocol) and required processes. Analyze data usage and identify data conflicts within or across product libraries and/or inappropriate use of data across products. Collaborate as needed in resolving data conflicts identified during the product implementation and testing phase.
  • Under the direction of the Team Lead and/or Product Manager, with increasing autonomy, for product Testing and Product Review, conducts product testing and review to evaluate changes and ensure development work conform to product requirements defined.Collaborate with quality control team in identifying product test case scenarios required to fully vet product requirements. Identify product specific scenarios that should be included or added to use cases and ensure correct results are generated. Validate product development or change implementation to ensure conformance of implementation to requirements identifying any breaks in outcome or product behavior (e.g., incorrect functionality or inappropriate format). Assist in troubleshooting issues presented or raised by clients or other functional groups particularly in determining gravity/risk exposure of a script or software limitation versus. Conduct transaction testing for all product changes and updates assigned.
  • Under the direction of the Team Lead and/or Product Manager, with increasing autonomy, assists in providing support for both internal and external inquiries about assigned subject matters.Review and address logged and pending requests for changes on a regular basis and in a timely and professional manner. Draft communication that demonstrates a clear understanding of the issue, the solution, and how the decisions will impact the product. Proactively manage assigned IRs and inform staff or clients, where appropriate, on the status of an outstanding issue-even if it is still being researched. Create accurate and informative product change documentation for external users.
  • Under the direction of the Team Lead and/or Product Manager, with increasing autonomy, proactively educating internal staff and current and prospective business partners and clients on product design, upcoming changes, and industry trends for assigned subject matters.Collaborate with internal teams on creating product documentation as needed. Collaborate with internal teams in developing subject matter training for internal and external users. Proactively inform internal staff regarding legal and regulatory changes, industry trends, and other information that will lead to product design changes. Provide content for the Community Lounge, Compliance SolutionsCompliance Solutions quarterly newsletter, and other publications to demonstrateCompliance Solutions product/subject matter and industry expertise.
  • Participating in any product team initiative or special project(s), as needed.Create, manage, and execute project plans that align with project objectives and milestones.

The above statement of duties is not intended to be all inclusive and other duties will be assigned from time to time.

Job Requirements:

  • Law degree (required)
  • Licensed to practice law (preferred)
  • Generally, 5 plus years of (a) business principles, banking, legal and compliance knowledge directly related to the subject matters and products; (b) experience directly related to the financial industry (i.e., banks, CU, FinTech, etc.), banking exposure/regulatory knowledge; and overall work/practical experience and/or academic background.
  • Familiarity or specific experience with one or more of the following preferred: consumer and commercial lending, mortgage lending, electronic banking, privacy, adverse action, disclosures, and financial institution compliance requirements, including laws and regulations such as TILA/Reg Z, RESPA/Reg X, ECOA/Reg B, FCRA, HMDA/Reg C, EFTA/Reg E, GLBA, UDAAP, BSA/AML, state lending and usury laws, and applicable CFPB, OCC, FDIC, Federal Reserve, NCUA, and state regulator guidance.
  • Strong communication skills both verbal and written.
  • Demonstrated ability to work as part of integrated teams in a fluid environment.
  • The ability to manage details and multi-task in a fast-paced environment.
  • The ability to develop long term close working relationship based on trust and respect.
  • Strong analytical, creative thinking, interpretation, and problem-solving abilities.
  • Proficiency in basic Microsoft™ programs (including Excel™).
  • Excellent time management skills.

#LI-LT

If you’re ready to help make a difference, apply today. A resume is required to apply. TruStage may process applicant information using an Artificial Intelligence (AI) tool. This tool automatically generates a screening score based on how well applicant information matches the requirements and qualifications for the position. TruStage recruiters use the screening score as a guide to further evaluate candidates; the score is one component of an application review and does not automatically determine whether a candidate moves forward. Candidates may choose to opt out of this process.

Compensation may vary based on the job level, your geographic work location, position incentive plan and exemption status.

Base Salary Range:

$99,800.00 - $149,700.00

At TruStage, we believe a sound, inclusive benefits program is of vital importance, along with a flexible workplace that allows for work-life balance, career growth and retirement assistance. In addition to your base pay, your position may be eligible for an annual incentive (bonus) plan. Additional benefits available to eligible employees include medical, dental, vision, employee assistance program, life insurance, disability plans, parental leave, paid time off, 401k, and tuition reimbursement, just to name a few. Beyond pay and benefits, we also recognize that flexibility, including working in a place you prefer, is essential to caring for our employees. We will continue to strive to offer flexibility and invest in technology and other tools that will make hybrid working normal rather than an exception, so that when “life happens,” you can focus on what’s most important.

Accommodation request

TruStage is a place where everyone can bring their best self and thrive. If you need application or interview process accommodations, please contact the accessibility department.

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