Head of Compliance

About Lili

Lili is an all-in-one banking app designed for small businesses. Combining banking services with real-time expense tracking, tax tools, and financial insights, Lili empowers small businesses with the tools they need to stay in control of their finances while saving time and money. Led by serial entrepreneurs with 20 years of fintech experience, CEO Lilac Bar David and CTO Liran Zelkha, Lili is backed by Group 11, Foundation Capital, AltaIR Capital, Primary Venture Partners and Torch Capital. Founded in 2018, Lili is headquartered in New York and serves customers in all 50 states. To learn more about Lili, visit Lili.co.

Lili is seeking an experienced Head of Compliance to join our NYC team.

In this role, you will lead the company’s overall compliance with applicable state and federal rules, regulations, and statutory requirements, as well as industry-standard practices.

The role involves both interacting with various internal teams at Lili, as well as communicating with law enforcement, government agencies, and our partner banks.

As the Head of Compliance, you will lead and assist complex compliance reviews, various compliance reporting, annual risk assessments, and more.

Responsibilities

• Oversee and track federal, state, and local subpoenas, search warrants, court orders, and other requests from various relevant parties
• Lead the Compliance team and manage periodic audits, reporting requirements, regulatory examinations, and assessments
• Manage all internal policies and procedures including but not limited to know-your-customer (KYC) and anti-money laundering (AML) policies
• Act as a business partner for any new feature/product we design, including updating and validating existing compliance policies and leasing with the relevant stakeholders. Support our lending business development efforts and the ongoing credit operations with compliance-related expertise in the entire credit life-cycle (originations, account management, and collections)
• Maintain current knowledge of applicable laws and regulations and understand the regulatory impact of changes to the product offering
• Lead and support compliance matters relating to the oversight of risks and controls for critical business activities for all relevant risks
• Oversee customer transaction monitoring and identify and report any suspicious activities to relevant bank partners
• Provide responses to customer complaints, if any by leading the research of the customer matter and providing adequate resolution
• Periodically review customer terms and conditions and adopt changes as necessary
• Create and promote a culture of compliance across the organization including by ensuring compliance with all internal commercial contracts 
• Manage employee training program to ensure awareness and adherence to all compliance matters

Requirements

• At least 7 years of legal and/or compliance experience within the banking and/or Fintech space. 
• Deep knowledge of core banking processes and key laws, regulations, guidance, and industry-standard practices, including those applicable to both banking and lending such the USA PATRIOT Act, Bank Secrecy Act, TILA, UDAAP and OFAC requirements etc
• Ability to analyze complex compliance issues, identify practical compliant solutions and contribute to decisions that enable the business to grow while meeting regulatory requirements.
• Strong analytical, organizational, and prioritizing skills.
• Excellent verbal and written communication skills, including the ability to convert complex regulatory concepts to an understandable format for other departments and functions.
• Ability to provide thought leadership to senior management and influence different teams to promote a culture of compliance
• Prior experience in managing teams

Benefits

• Competitive salary
• Stock Options
• Health Insurance Benefits
• Vision Insurance
• Dental Insurance
• Retirement Account - 401(k) plan
• Paid Vacation and Sick Time