Senior Legal & Regulatory Compliance Process Lead

About Us:

We started Novo to challenge the status quo— we’re on a mission to build the operating system to destroy the back office, so small businesses (SMB’s) can do more of what they love. Novo is flipping the script of the FinTech world, and we’re excited to lead the small business FinTech revolution.

We are looking for people of character. Pragmatic and capable people who want to see their work drive better outcomes for small businesses — the backbone of our economy. You will join our team and work on the building blocks of everything Novo ships.

Why Novo?

Novo is a rapidly growing series B fintech startup with a mission-driven team that’s passionate about helping every small business in America

• Positive, inclusive, supportive culture cheering you on your journey
• We work with very new technologies and architecture patterns
• We provide learning and development budgets to help you grow and bond with your team
• Able to work from the office 3+ days per week
• Offices in NYC, Miami, India, and Colombia

About the Role:

• Third Party Risk Management

  • Handling end-to-end vendor/partner onboarding requests as per TPRM procedure for US and India vendors/partners
  • New Vendor/Partner Onboarding
  • Non Disclosure Agreement (NDAs)
  • Renewals
  • Amendment to existing contracts
  • Terminations
  • As part of procurement review, perform due diligence checks on vendors/partners to :
  • Review the vendor/partner request and work with the requester
  • Perform Vendor Risk Assessment to assess the criticality level and assign risk rating
  • Perform OFAC and negative media screening
  • Obtain required documents from the vendor/partner
  • Work closely with the requester and vendor/partner to expedite the process
  • Perform initial assessment and review of vendor/partner contracts/agreements prior to escalation for Legal and Finance review
  • Establish documentation to summarize TPRM profiles for active vendors/partners
  • Work with Finance, Legal & Infosec teams for required approvals, scheduling and leading meetings as necessary
  • Develop trust and relationship with requestors, including but not limited to business development, product and engineering channels.
  • Perform periodic review of vendors to keep the profile up to date :
  • Obtain the latest documents by outreaching internal POCs or vendors/partners
  • Perform vendor risk assessments & screening (OFAC / negative media)
  • Willing to contribute in the new vendor selection process if required
  • Manage day to day operational activities by managing daily request, periodic reporting, trackers and applicable third party risk management tools
  • Work with Senior Manager of Compliance Strategy to identify and implement enhancement opportunities to TPRM compliance program and applicable systems
  • Develop exception reports as required by due diligence reviews performed for Compliance, InfoSec, Legal or Finance

Compliance :

• Assist in developing compliance policies, procedures and job aids
• Assist in the delivery of supporting documents to banking partners and law enforcement agencies who provide subpoenas addressed to Novo
• Coordination with internal departments (if required) to gather subpoena documents
• Develop responses to BBB & Regulatory complaints received, as per procedure
• Develop debrief documents in alignment with compliance issues raised by other departments and internally within the compliance team
• Triage and execute raised compliance issues/enhancements in alignment with regulation, internal policies and procedures
• Perform necessary research to establish an in depth understanding of various US regulations and upcoming changes to determine implication to Novo compliance operations/program
• Monthly reporting / Ad Hoc project(s) support

Requirements for the Role:

• Minimum bachelor's degree, preferably in business, economics, finance, or other technical disciplines. Law degree and/or compliance certifications are a plus
• 3-5 years experience working in the financial services/banking industry
• Background working in U.S. markets, in a fintech/tech company, or both
• Comfortable working in the US Shift
• Flexible to contribute as per business requirements
• Work on process improvements, conducting training and develop standard operating procedures
• High attention to detail, ability to oversee critical analytics projects from end to end independently
• Ability to think outside the box, work with limited data, and find solutions to unorthodox problems
• Excellent written and verbal communication skills, which can be leveraged for senior leadership and external party correspondence
• Excellent reading comprehension skills. Ability to understand regulatory and legal language is a plus
• Keen ability to identify potential unforeseen issues and escalate to management with recommendation
• High drive of execution, bring tasks and projects to completion with efficiency
• Ability to thrive in an ambiguous environment and adapt quickly to changing priorities; focused on getting things done in a highly organized way.
• Ability to work cross-departmentally, without the need for extensive hierarchical corporate structure
• An inquisitive and highly detailed oriented work ethic