Product Compliance Manager

We are seeking a highly skilled and experienced Product Compliance Manager who will handle various aspects of debit and credit card processing, including processing applications, managing cardholder accounts, and resolving disputes or fraud. This individual will oversee X Payments adherence to key regulatory frameworks. The ideal candidate will have a robust understanding and experience of financial regulations such as Reg E, CC, DD, UDAAP, and various other pertinent regulations, particularly in the FinTech sector, both domestically and internationally.
Location: New York or Palo Alto
Base Salary: $162,000 - $250,000

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Key Responsibilities:

• Develop, implement, and maintain policies and procedures ensuring compliance with Regulation E.

• Monitor changes in the regulation and adapt compliance programs accordingly.

• Train staff on Regulation E requirements and the handling of error resolution and unauthorized transactions.

• Lead the company's UDAAP compliance program to ensure fairness and transparency in all business practices.

• Conduct regular reviews and risk assessments to identify potential UDAAP risks.

• Implement corrective action plans for any identified UDAAP violations.

• Employs data analytics to uncover patterns indicative of potential UDAAP compliance issues.

• Performs root cause analysis to determine why customers are dissatisfied or confused, reports findings and suggests risk mitigation strategies to senior management.

• Works with product teams and customer service to refine and clarify practices.

• Creates and revises training materials to prevent future UDAAP violations based on complaint trends.

• Adapts the complaint analysis process to align with evolving consumer behaviors and regulatory changes.

• Collaborate with product development teams and legal counsel to integrate regulatory requirements into product design from the outset.

• Set up the governance to conduct pre-launch compliance reviews to ensure new offerings adhere to existing and forthcoming regulations relevant to consumer protection, and toInternal compliance policies and procedures.

• Develop and update internal policies and procedures to align with regulatory changes.

• Lead the development and implementation of strategies to adapt to new regulatory requirements

• Assess the impact of new regulations on existing products, services, and operations in partnership with product counsel.

• Monitor and report on the implementation progress, ensuring timely and effective adoption of new regulations across the organization.

• Collaborate with business units to integrate compliance into operational changes.

Qualifications:

• Bachelor’s degree in Finance, Business, Law, or related field; advanced degree or compliance certification (CRCM, CFSA, or similar) highly preferred.

• Minimum of 5 years in regulatory compliance, with at least 3 years in a leadership role within financial services, and proven experience with horizon scanning or regulatory change management.

• Deep understanding of Regulation Reg E, CC, DD, UDAAP, banking laws, state money transmission regulations, and a proactive approach to regulatory change.

• Strong analytical, organizational, and project management skills.

• Excellent communication for interacting with regulators, staff, and executives

• Proficiency with compliance management systems and horizon scanning tools

• Ability to interpret and preemptively respond to complex regulatory documents.

• Detail-oriented with a proactive stance on compliance risk management.

• Ethical integrity and commitment to fostering a culture of compliance.

• Leadership to guide a team through regulatory changes.