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Operational Compliance Officer

Octane

Octane

Legal
Irving, TX, USA
Posted on Saturday, January 20, 2024

Octane® is revolutionizing recreational purchases by delivering a seamless, end-to-end digital buying experience. We connect people with their passions by combining cutting-edge technology and innovative risk strategies to make lifestyle purchases - like powersports vehicles, RVs, and OPE - fast, easy, and accessible.

Octane adds value throughout the customer journey: inspiring enthusiasts with our editorial brands, including Cycle World® and UTV Driver®, instantly prequalifying consumers for financing online, routing customers to dealerships for an easy closing, and supporting customers throughout their loan with superior loan servicing.

Founded in 2014, we’re a remote-first company with 550+ employees and over 30 OEM and 4,000 dealer partners.

We are seeking an Operational Compliance Officer to join Octane. This is a key risk management role (alignment to second line of defense) to help ensure corporate initiatives and key processes with significant compliance impact comply with applicable laws and regulations. While working within the Compliance Management Program framework, the Operational Compliance Officer is responsible for managing Compliance Programs within our Operations area such as FCRA, SCRA, Adverse Action Oversight, etc. The role requires delivering quality results, providing compliance advice to lines of business as a subject matter expert, and executing or participating in corporate processes.

Responsibilities

  • Own and manage Octane’s monthly Credit Bureau Reporting program which includes monthly reporting, dispute handling and system investigations and resolution
  • Have primary responsibility for ensuring compliance related processes within our Operations and Servicing teams are functioning properly and as intended
  • Monitors Operations and Servicing processes and escalates any identified issues for immediate resolution
  • Identify potential internal and external risks relating to the lines of business initiatives and processes and provide guidance on remediation, escalate and facilitate with subject matter experts, when necessary
  • Will be a key contributor and liaison between the 1LOD and the 2LOD teams
  • Maintain subject matter expertise of applicable laws and regulations, such as ECOA, TCPA, FCRA, TILA, UDAAP, FDCPA, EFTA
  • Evaluate Internal Audit, Regulatory Exam, and self identified issues and events for compliance impacts
  • Advise lines of business on application of compliance requirements, such as: new products, process development, development of controls and monitoring, remediation/corrective action of compliance breakdowns, and change in law or regulation
  • Assist lines of business in the development and maintenance of the Compliance Program, such as how to monitor, report, and train
  • Support lines of business through expert advice, influence adjustments to the processes, procedures, and controls
  • Active involvement with compliance testing and third party compliance
  • Assist in capturing, maintaining, and analyzing compliance data, interpreting it to ensure consistency and adequate Compliance Risk Management
  • Participate in reporting and governance activities as needed

Requirements

  • Bachelor's Degree preferred (or additional 5 years relevant work experience)
  • 5+ years of professional experience in Servicing and Operations with a familiarity and ownership of Compliance related processes
  • Experience working with consumer financial laws and regulations including but not limited to ECOA, TCPA, FCRA, TILA, UDAAP, FDCPA, EFTA; demonstrated track record of collaborating with legal and compliance teams to ensure regulatory alignment
  • Knowledge of the Metro2 format, CDIA guidelines, and all facets of Credit Bureau reporting and disputes, including tools such as e0scar, Bullseye, etc.
  • Proven ability to provide risk and compliance advisory support on end-to-end processes, collaborating with leadership to ensure visibility into compliance risks impacting key initiatives and business growth
  • Excellent written and verbal communication skills, along with superior analytical, critical thinking and problem-solving abilities
  • Strong analytical skills with the ability to provide root cause analysis for control gaps and weaknesses
  • Advanced Excel and PowerPoint skills
  • Strong adaptability and capacity to work in fast-paced environments
  • Detail oriented, organized, energetic and action focused
  • Strong collaboration and communication skills
  • Conflict resolution/management skills
  • Demonstrated knowledge of process quality assurance assessment and risk control/management
  • Industry experience within Consumer Finance, FinTech, Financial Services, or similar industries is preferred

Benefits

  • Robust Health Care Plans (Medical, Dental & Vision)
  • Generous Parental Leave
  • Up to 5 weeks time off (self-managed)
  • Retirement Plan (401k) with company match!
  • Educational Assistance/Tuition Reimbursement up to $3K/year
  • Life Insurance (Basic, Voluntary & AD&D)
  • Short Term / Long Term Disability
  • Robust Ancillary benefits including accident insurance, hospital insurance, etc.
  • Gympass wellness benefit
  • Powersports Safety Benefit

Octane Lending is an equal opportunity employer committed to providing equal employment opportunity without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, or any other protected status with respect to recruitment, hiring, promotion and other terms and conditions of employment.

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