Senior Compliance Manager

We are Bright:

Bright is a consumer fintech that helps Americans get out of debt, with the power of data science and machine learning. It is a mobile app that combines all the tools and tech needed to manage and get rid of debt.

Bright's tools include credit score building, automated debt paydown plans, financial planning, budget planning tools, and refinance loans. It works with credit cards, student loans and car loans.

Bright has had 6x growth in the last year, with 300,000 users, and more than 100,000 ratings and reviews.

Bright is backed by three major venture capital funds (Sequoia, Falcon Edge and Hummingbird) and with top angel investors from the US, UK and India, Bright has raised +$40 million in funding to date.

Bright has recently raised $50M in debt funding from Encina Lender Finance, for its credit business growth. Encina Lender Finance provides lending solutions to consumer and commercial speciality finance companies across the U.S. and Canada.

Today we are among the top 8 US FinTech companies. We will become a top-100 US financial institution, with the unique strength of data science and predictive modeling to enhance financial products for a user's life outcomes.

We will be the first at-scale Consumer Tech company, built in India for Global markets.

About Our Founders:

Bright was founded in 2019 by a founding team from McKinsey's Banking Practice (Petko Plachkov and Avi Patchava) and InMobi Data Scientist (Avi Patchava, Varun Modi, Avinash Ramakath, Jayashree Merwade).

What is the role about

A Senior Operations Manager is responsible for overseeing key operations and compliance processes for the business. These are mission critical procedures that ensure adherence to requirements of our partners, regulators and stakeholders. Role will report to the Head of Operations and will have direct involvement with senior management and multiple functional areas of business.

Qualifications

• Overall 11+ years with minimum 5+ years experience in a management or leadership position working in consulting, financial services, fintech, payments or a related space within an operations organization.
• A Bachelor's or Master's degree in Business Administration, Finance, Operations, Engineering or a related field is required.
• Experience scaling and building operational teams, including people, processes, program, and tooling
• Great project manager with ability to independently manage projects and processes to high level of detail and delivery without need for significant executive oversight
• A strong leader, influencer, motivator, and decision-maker with demonstrated ability to work effectively with people at all levels and across both internal and outsourced teams
• Great with data, with ability to present and articulate both qualitative and quantitative data to senior stakeholders and to formulate actionable insights and compile information in a structured, logical manner

Responsibilities

• As the Senior Manager of Operations Compliance, you will be responsible for developing, leading and executing on key compliance processes and procedures. You will define the process roadmap, be responsible for delivering and oversight
• Create operational oversight system to identify operational deficiencies and implement operational fixes
• The scope of this role includes all relevant Operational activities in partnership with Compliance, Credit, Fraud Strategy, and Payments counterparts, partner reporting, ongoing reviews
• Provide ongoing reporting, visibility, and accountability around performance measures, including insights into any changes in performance, action plans to get us back on track, and investments required in order to meet our goals
• Ensure that the team is consistently meeting service level commitments while maintaining high quality levels through a culture of proactive monitoring and continuous process improvement
• Establish and reinforce an analytical and data driven culture both within the team and across the company in partnership with Risk, Product, Analytics, Engineering and the broader business
• Ensure strong communication and transparency to all impacted stakeholders around the status of roadmaps, performance, key issues, and emerging risks

What will you be doing

1. Risk Identification: Identify potential risks across various areas, including financial, operational, reputational, regulatory, and technological risks.
2. Risk Assessment: Conduct thorough risk assessments, analyzing the likelihood and impact of identified risks, and prioritizing them based on their significance.
3. Risk Mitigation: Develop and implement strategies, policies, and controls to mitigate identified risks and prevent potential losses or disruptions.
4. Risk Monitoring: Continuously monitor risk factors and controls, and evaluate their effectiveness, making adjustments as necessary to reflect changing circumstances.
5. Regulatory Audits: Leading and managing internal and external audits to ensure compliance with regulatory requirements. Acting as a liaison between the company and regulatory bodies during audits and inspections.
6. Reporting: Prepare and present comprehensive risk reports to senior management and relevant stakeholders, highlighting key risks, mitigation strategies, and ongoing monitoring results.
7. Policy Development: Work with senior management to develop risk management policies and procedures, ensuring they align with the organization's objectives and regulatory requirements.
8. Training and Awareness: Educate and train staff on risk management principles, policies, and procedures, ensuring a culture of risk awareness throughout the organization.
9. Compliance: Ensure all risk management activities comply with relevant regulations and industry standards, and coordinate with compliance teams as needed.
10. Collaboration: Collaborate with other departments, including finance, operations, and legal, to integrate risk management strategies into broader business processes.
11. Continuous Improvement: Stay informed about industry trends, emerging risks, and best practices to refine risk management strategies and methodologies.

What you should bring with

1. Education: Bachelor's or Master's degree in Business Administration, Finance, Operations, Engineering or a related field is required.
2. Certifications: Professional certifications such as Certified Risk Manager (CRM) or Financial Risk Manager (FRM) are preferred.
3. Experience: Strong 8 years of experience in risk management or a related field, including experience with compliance ,auditing, risk assessment, mitigation, and monitoring.
4. Skills: Strong analytical and problem-solving skills, effective communication, leadership, attention to detail, and the ability to work collaboratively across departments.