LendingClub (NYSE: LC) was founded in 2007 under the belief that a technology and data-driven marketplace can improve the way people access and invest in credit, creating value for both sides. Since then, we've helped millions of Americans take control of their debt, pursue their dreams, and invest in their future – all in a fair, transparent, and affordable way. Today we’re America’s largest online credit marketplace, facilitating billions of dollars in loans annually, and we’re leading the governance of a new industry by developing ethical, responsible ways to bring greater value and better opportunities to our members. Everyone deserves a better financial future and our team is committed to making that a reality.
The Compliance Testing Associate will report to the Manager, Compliance Testing and will support the Enterprise Compliance Testing team in conducting regulatory compliance testing to independently evaluate the effectiveness of internal controls, systems, and operating procedures. The Compliance Testing Associate will primarily be responsible for assisting the Lead Tester(s) in the execution of risk-based reviews related to consumer regulations. However, the Compliance Associate will also assist in executing BSA/AML and Sanctions laws, and Investor compliance reviews. The Compliance Associate will also assist with other ad-hoc projects related to the Compliance Program. This role can be based in San Francisco, California or Lehi, Utah.
· Assist in executing end to end compliance testing for all lines of business based on the Annual Compliance Test Plan;
· Participate and lead walkthroughs and discussion with key stakeholders for areas under review;
· Conduct transactional testing, as needed;
· Evaluate issues identified, including root cause and issue severity, and draft recommendations to improve policies, procedures, potential efficiencies, and controls;
· Collaborate with business partners on exceptions identified to develop an appropriate action plan;
· Track and validate corrective action within internal tracking systems;
· Prepare work-papers according to internal standards and procedures;
· Document and prepare final reports to be escalated to senior management;
· Establish and maintain strong relationships with internal and external business partners;
· Participate in planning discussions on future program enhancements; and
· Participate in ad-hoc projects related to role, as needed.
· Minimum of two (2) years of experience in an Internal Audit or Compliance Independent Testing role;
· Strong interpersonal, communication (written and oral) and influencing skills;
· Must have demonstrated knowledge of compliance laws and regulations such as TILA/Regulation Z, ECOA/Regulation B, FCRA, FACTA, FDCPA, SCRA, and EFTA;
· Knowledge of BSA/AML & Sanctions laws and Investor Compliance laws preferred;
· Proficiency in MS Office Applications including MS Word and Excel;
· SQL experience is a plus;
· Ability to manage competing priorities, work independently, and deliver results;
· Comfortable with balancing multiple, competing priorities and changes in scope / direction;
· Superb attention to detail and accuracy, highly organized;
· Critical thinking skills and ability to exercise judgement;
· Strong desire and initiative to be a student of LendingClub.