[Remote] ERM Associate, Issues Management at OppFi

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Not SpecifiedCompensation

N/AExperience Level

N/AJob Type

Not SpecifiedVisa

N/AIndustries

Requirements

Bachelor’s degree in Finance, Business, IT, Economics, or related field
3+ years of experience in consumer lending, preferably at a Fintech
Proficient knowledge of consumer financial regulations (Truth in Lending Act, Regulation Z, Equal Credit Opportunity Act, Regulation B, Fair Credit Reporting Act, Fair Debt Collections Practices Act, Unfair Deceptive and Abusive Acts or Practices, Telephone Consumer Protection Act, Servicemembers Civil Relief Act, Electronic Funds Transfer Act, Electronic Signatures in Global and National Commerce Act, and Privacy)
Proficient with data queries such as SQL & JIRA
Ability to assess the material significance and relevance of identified risks and identify trends across the organization
Intermediate or better analysis skills including Excel or Google Sheets
Project Management Software skills, experience with Monday a plus
Experience working with external parties such as Bank Partners, Auditors, etc

Responsibilities

Oversight & tracking of identified issues and validating completion
Research escalated issues to pinpoint possible causes, customer population affected, and the impact
Risk rating issues to assess material significance and relevance of compliance risks
Collaborate with department leaders to identify solutions, minimize business impact, and implement customer remediation efforts
Advise Business on appropriate solutions to identified risks
Review and assess business-proposed changes to products and processes for relevant compliance risks
Independently lead projects to prevent, detect, and mitigate regulatory risk
Identify risk trends and conduct trend analysis for Corrective Action reporting
Monitor internal company communication channels for potential issues
Optimize the Corrective Action Program by identifying areas for improvement and leading implementation
Own Bank Partner relationships for Issues Management, including reporting, updates, and risk advising

Skills

OppFi

Specialty finance platform for personal loans

About OppFi

OppFi provides a platform that helps community banks offer personal loans to individuals who often struggle to access credit from traditional financial institutions. By partnering with these banks, OppFi enables them to extend credit to underserved Americans, allowing these consumers to improve their financial health. The loans are designed to be accessible and are accompanied by a focus on responsible lending practices. OppFi differentiates itself from competitors by emphasizing transparency and best-in-class customer service, ensuring that clients understand the terms of their loans and feel supported throughout the process. The company's goal is to promote financial inclusion and help individuals rebuild their financial stability.

Chicago, IllinoisHeadquarters

2012Year Founded

$283MTotal Funding

IPOCompany Stage

Fintech, Financial ServicesIndustries

201-500Employees

Benefits

Generous vacation

Insurance benefits

401(k) matching

Employee Assistance Program

Tuition reimbursement

Subsidies for childcare costs, free financial literacy tools, 6 paid weeks of parental leave

Collaborative and supportive company culture

Risks

Increased competition in small business financing could challenge OppFi's market position.

Potential delay in Federal Reserve rate cuts may decrease loan demand.

Integration risks exist with the acquisition of Bitty Advance.

Differentiation

OppFi partners with community banks to extend credit to underserved consumers.

The company emphasizes responsible lending and financial inclusion in its business model.

OppFi offers financial literacy resources through a collaboration with Zogo.

Upsides

Acquisition of Bitty Advance diversifies OppFi's product offerings in small business financing.

Expanded $50 million credit facility supports growth and new product roll-out.

Partnerships with educational platforms enhance customer engagement and retention.

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