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Compliance Senior Process Lead



Gurugram, Haryana, India
Posted on Monday, December 18, 2023

We started Novo to challenge the status quo—we’re on a mission to increase the GDP of the modern entrepreneur by creating the go-to FinTech platform for small businesses (SMBs). 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, Delaware, India, and Colombia

About Us:

Small businesses are the backbone of the US economy, comprising almost half of the GDP and the private workforce. Yet, big banks don’t provide the access, assistance and modern tools that owners need to successfully grow their business.

We started Novo to challenge the status quo—we’re on a mission to increase the GDP of the modern entrepreneur by creating the go-to banking platform for small businesses (SMBs). Novo is flipping the script of the banking world, and we’re excited to lead the small business banking revolution.

At Novo, we are looking for a Compliance Lead to assist in implementing our compliance testing and monitoring program. This is an essential role that involves interacting with various teams and across functions in order to understand and test their processes. The ideal candidate is an excellent communicator with a strong attention to detail. If you're passionate about finding the right balance of innovation and compliance for underserved markets, then we want to chat. Are you ready to revolutionize the small business banking industry with us?

About the Role:

  • Manage the development and execution of our compliance testing and monitoring program
  • Maintain Novo’s compliance issue tracking system and monitor for risks of deviation to obtained timelines and resolutions
  • Work with Compliance to ensure that risks related to new systems, processes, products, and services are identified and tested
  • Conduct monitoring and testing reviews across key compliance risks, analyzing written and verbal communication to assess the range of potential interpretations by our customers and the implications for Novo
  • Produce periodic reporting of testing results, drafting well written summaries of the findings and dimensioning the implied risks for stakeholders
  • Keep abreast of regulatory changes that impact the scope of Compliance testing and assist in the execution of relative impact assessments
  • Assist in maintenance of Novo’s internal compliance escalation portal, which incorporates inquiries, issues and enhancement opportunities originating from various business lines within the company
  • Support in minimizing backlog of compliance-lead operations

Requirements for the Role:

  • Lead, manage and supervise the day-to-day operations of the compliance testing program
  • Performance management and development of relative staff overseeing compliance driven controls
  • Provide coaching to the relative internal teams in a real-time environment by conducting periodic team meetings, formal exit meetings concluding compliance testing, and providing on-the-spot feedback
  • Monitor alignment to testing plans and ensure adherence to schedules within agreed SLAs and OKRs
  • Be the a primary point of contact for applicable team members as well as assist senior leadership with processing related queries and concerns
  • Excellent written communication skills; comfortable independently drafting succinct and clearly articulated messages that convey an opinion and provide supporting documentation
  • Strong attention to detail, critical reasoning skills, and capacity to exercise reasonable judgment as relates to interpreting nuanced communications
  • Demonstrates ownership for the quality and outcomes of work products
  • Entrepreneurial attitude and the ability to adapt to a rapidly growing start-up with associated complexities and ambiguities.
  • Exhibits a growth mindset: a strong desire to learn, grow, and develop.

Must Have:

    • 4-6 years of U.S. financial institution experience working in a similar or related role
    • Familiarity with U.S. Banking laws and regulations and the risks associated with the industry
    • Experience within Fintech or a Sponsor/Partner bank
    • Experience working across multiple teams and functions

Novo values diversity as a core tenet of the work we do and the businesses we serve. We are an equal opportunity employer, indiscriminate of race, religion, ethnicity, national origin, citizenship, gender, gender identity, sexual orientation, age, veteran status, disability, genetic information or any other protected characteristic.