Compliance Counsel

Octane; Dallas (TX); Remote; USD 140,000 - 170,000; Full time

Job summary

A digital lending company based in Texas is seeking an experienced Compliance Counsel to oversee compliance management and provide legal advice across business units. The ideal candidate will have significant experience in consumer finance law and a J.D. from an accredited law school. This position offers a competitive salary ranging from $140,000 to $170,000, along with a robust benefits package including health care and retirement plans.

Benefits

Health Care Plans

Generous Parental Leave

5 weeks time off

401K retirement plan

Tuition Reimbursement

Qualifications

• 3+ years of experience in consumer finance law and regulation.
• 5+ years of experience as an attorney.
• Experience drafting and negotiating contracts.
• Knowledge of relevant consumer lending regulations.

Responsibilities

• Monitor and analyze regulatory developments.
• Collaborate to improve processes for legal compliance.
• Support consumer complaint management.
• Manage regulatory exam and audit requests.

Skills

Negotiation skills

Analytical skills

Communication skills

Project management

Autonomy

Education

J.D. from an ABA accredited law school

Tools

Google Suite

MS Office

DocuSign

Job description

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.

As Octane’s Compliance Counsel, you will work closely with the Sr. Vice President and Compliance Counsel, serving as the liaison between the compliance team and business units company-wide. As Compliance Counsel, you will provide legal advice necessary for the effective execution of the Company’s Compliance Management System. You will demonstrate a mastery of relevant local, state and federal consumer protection and regulatory laws and their application to business operations and take responsibility for the effective execution of the Compliance Management System.

Responsibilities:

• Monitor and analyze federal, state, and local regulatory developments concerning consumer lending, lending operations and other activities that may impact our company, marketplace, and industry, and engage with our business partners to ensure understanding of same and operational readiness.
• Collaborate with team members to identify issues and improve existing processes and procedures to ensure consistent interpretation and application of legal requirements across Octane’s product portfolio.
• Provide risk & compliance advisory support throughout the organization on end-to-end processes and product launches.
• Provide support to the company’s consumer complaint program.
• Support compliance issue management activities to ensure timely review and remediation of potential compliance risks and vulnerabilities.
• Collaborate with leadership to ensure visibility into compliance risks impacting key initiatives, company growth, or business partners.
• Manage regulatory exam, audit, and litigation requests as needed.
• Maintain the company's various lending & servicing licenses as well as handling volume reporting related to those licenses.
• Solve regulatory questions through research and collaboration with the compliance team and outside counsel.
• Work with the executive team to advise on business decisions with respect to legal and compliance requirements in our heavily regulated industry.
• Advise on contract status, legal risks, and the legal liabilities associated with different transactions.
• Oversee the review, drafting and negotiation of contracts related to business needs and deliver legal direction and counsel to staff.
• Responsible for updating policies and procedures in line with statutory, regulatory, and contractual requirements.

Requirements:

• J.D. from an ABA accredited law school and Bar Association membership with 1 or more states.
• 3+ years of experience in consumer finance law and regulation.
• 5+ years of experience as an attorney.
• Excellent negotiation, consultation, and analytical skills.
• Experience drafting, reviewing and negotiating commercial vendor contracts and SaaS agreements and proficiency in service level agreements, industry trends and best practices.
• Knowledge of 3rd party risk assessments and applying a vendor management program.
• Knowledge of relevant consumer lending, consumer protection, cybersecurity, privacy and security regulations (Including but not limited to: TILA, FCRA, FDCPA, AML/BSA, OFAC sanctions and UDAAP).
• Advance skills with the Google Suite, MS Office, DocuSign and other online platforms.
• Outstanding communication skills, both verbal and written and the ability to explain complex legal issues to laymen across the company.
• The ability to handle ambiguity and uncertainty at a small to mid size company.
• Project and time management skills.
• Ability to operate autonomously.

Compensation:The role described above offers a base salary of $140,000 to $170,000. Your offer will be based on the alignment of your qualifications with the requirements of the job, location, and internal equity. In addition to the above-mentioned salary, Total Rewards include a stock option package, and benefits as outlined below.

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.
• Powersports Safety Benefit
• Wellhub (Gympass) Wellness Benefit

Disclaimer: The above statements are intended to describe the general nature and level of work being performed by associates assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.

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.