Compliance Liaison Manager

Who We Are

Cross River is a highly profitable fast-growing financial technology company recognized for the third year in a row by CB Insights as one of the 250 best global fintechs. Our comprehensive suite of innovative products powers financial solutions with a strong focus on regulatory compliance for our partners and their millions of consumers around the world.

We are on a mission to build the infrastructure that propels access, inclusion and the democratization of financial services. While our company has tripled in size over the last three years, our strong sense of purpose led Cross River to be named to American Banker’s list of Best Places to Work in Fintech for the last 4 consecutive years. The reason for this success is simple --- our nimble, adaptive, and collaborative family culture lives in every member of our growing team. Together we are at the forefront of technology and innovation in financial services and we invite collaborative and motivated high performers to join our rapidly expanding team.

Purpose  

Cross River’s Compliance team ensures our business follows consumer compliance regulations, industry best practices, and established Bank procedures. This role sits with the Fintech CMS Advisory team and supports the Bank’s offering of consumer and business card, deposit, and lending products. Before the Bank can onboard a new Fintech partner, the Bank must perform due diligence, and once the partner is onboarded, regular compliance oversight includes but is not limited to ongoing compliance monitoring/testing, issue management review, new product approval, change management review and approval, and leading a monthly compliance call and yearly site visit.

Who We’re looking For

This role reports directly to the Director of Fintech CMS Advisory and functions as the primary point of contact between the Bank and its Fintech partners. The Liaison Manager is responsible for the development, maintenance and execution of appropriate third-party standards and effective internal controls—in accordance with the Bank’s Compliance Management System (CMS) and Compliance Program—relating to compliance with all state and federal laws and regulations applicable to a New Jersey-state chartered, FDIC insured, financial institution, including consumer protection laws and regulations. The role is one that touches all aspects of the Bank’s CMS Program and works closely with stakeholders in departments such as Credit, BSA/AML, Enterprise Risk, Marketing, Fair Lending, Legal, etc.

Responsibilities

• Primarily responsible to drive the effective application and execution of the Bank’s CMS on the Bank’s Fintech partners—including the Bank’s products and services offered through such partners —and the Bank’s responsibilities to comply with all applicable laws, regulations and guidance relating to the Bank’s oversight and management of third-party partners (e.g., FDIC FIL-44).
• Act as a subject matter expert for the Bank’s Fintech Partners on the implementation of consumer laws and regulations, as well as industry best practices. Provide interpretations and clarifications of laws, regulations and issues relating to and including Regulation B/ECOA, Regulation C, Regulation E, E-Sign, Fair Lending, FCRA, FDCPA, MLA, Regulation P, SCRA, UDAAP and Regulation Z, etc.
• Acts as the primary point of contact between the Bank’s Fintech partners and the Bank’s Compliance function. Provide an effective customer/partner experience by streamlining requests and CMS requirements.
• Perform thorough review of all change management, issue management and other CMS/Compliance Program Advisory related requests.
• Advise Fintech partners on the creation and assessment of operational compliance controls in response to identified issues and the launch of new or modified products and services.

• Review/Assist with the development of corrective action taken by the Bank’s Partners to address compliance related issues, including assisting with the implementation of the corrective action plan and conducting follow-up reviews to determine the adequacy and effectiveness of the action taken.

• Develop strong relationships with partners and leverage those relationships to strengthen the culture of compliance between the third-party and the Bank.
• Proactively identify and assess third party compliance issues and weaknesses throughout the product lifecycle, including product development, ongoing monitoring/oversight, and governance. Promptly respond to such items in a manner which addresses root causes and including timely remediation, where appropriate.
• Create and update policies and procedures related to third-party compliance, including assessing for current and new regulatory requirements, and implementing/remediating gaps in existing policies and procedures.
• Responsible for annual site visits, and monthly calls with the Bank’s partners.
• Analyze the results of testing, monitoring and/or audit reviews, provide credible challenge to results, and assist partners in the development and implementation of compliant corrective action.
• Report statuses of projects, initiatives, and issues to the Director of Fintech CMS Advisory and escalate issues as necessary.
• Coordinate and prepare for Internal Audit reviews, Compliance Testing reviews, and regulatory examinations and inquiries.

Qualifications & Skills

• 7+ years’ experience in developing, maintaining, and executing consumer banking compliance controls for new/existing business products, services, and/or processes.
• Expertise in consumer banking laws and regulations, as well as industry best practices, including but not limited to Regulation B/ECOA, Fair Lending, Regulation E, E-Sign, FCRA, FDCPA, MLA, Regulation P, SCRA, UDAAP and Regulation Z; including knowledge of rules, laws and regulations impacting card programs such as card network rules
• Extensive knowledge of third party processes and technologies utilized in banking (particularly Fintech banking), including credit cards, deposit account handling, consumer loan origination, servicing and collection, and payment processing.
• Demonstrated ability to assess complex issues through root cause analysis and other analytical techniques; structure potential solutions; drive to resolution with senior stakeholders.
• Proven track record showing ability to manage multiple large projects and competing priorities. 
• Excellent communication skills and ability to interact effectively with internal and external stakeholders at the non-executive and executive level. Effective persuasion skills, a proactive and “no surprises” approach to communicating issues, and strength in sustaining independent views.
• Strong presentation skills with the ability to articulate complex problems and solutions through concise and clear messaging.
• Experience supporting regulatory exams and audits.
• Highly motivated, strong attention to detail, team oriented, organized.
• Strong interest in technology and innovation. Prior fintech experience a plus.
• CRCM and/or JD preferred

Salary Range: $145,000.00 - $175,000.00 

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