Sr Director, Regulatory Legal

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Job description

Position Overview:
Oportun is looking to expand its world-class and highly experienced Legal and Compliance team responsible for serving as a strategic partner and providing sound legal advice to a mission-driven Company that offers affordable and credit building products. The position will provide legal advisory support for Oportun's collection and servicing functions, including the support of Artificial Intelligence (AI) driven collections, as Oportun continues its journey of being an AI-driven, digital-first company. In this role, the Regulatory Lawyer will also provide legal advice and support for the collection strategy for Oportun's secured and unsecured personal loan, credit card and bank partner products. The Regulatory Lawyer will report to the Sr. Director, Sr. Regulatory Counsel, and will work closely with Oportun's Compliance officers, executive business partners and operational teams. This is an opportunity to work in a fast-paced, mission-driven organization where your contributions can have a meaningful impact on consumers.

Responsibilities:
Act as strategic partner to business in providing consumer finance legal advisory support for Oportun's loan collection, loan sales and servicing functions, including customer service, consumer complaints, collections, payments, credit reporting, back-office functions, advice on the collection and servicing of credit card, secured auto and unsecured accounts as well as handling of bankrupt and deceased accounts.

Partner with Oportun's AI/Chief Data Scientist, Chief Risk Officer, Chief Operating Officer and Collection Operations teams, advising on the use of innovative technologies, artificial intelligence, and machine learning to develop personalized solutions for customers in the collection of secured and unsecured personal loans and credit card accounts, including accounts originated through bank partnerships.

Advise on the development and implementation of agile and flexible behavior scoring models that analyze behavior patterns, predict behavior and automate contact strategies in line with fair collection and servicing standards, UDAAP and state and federal requirements.

Partner and advise the business in the development of hardship, forbearance, loan modification and other workout strategies or accommodation programs, in line with federal and state regulatory requirements.

Provide effective and meaningful attorney oversight of the Legal Collections process (including collection lawsuits, repossessions and/or replevins, judgment enforcement and wage garnishments) to ensure compliance with state civil procedure/court rule requirements; federal and state fair debt collection laws; CFPB rules, consent orders and guidance; ECOA/Regulation B; SCRA; UDAP/UDAAP and other relevant legal requirements and issues.

Support the business in connection with the sale of delinquent debts, including due diligence, contract negotiation, and conformance with applicable federal and state legal and regulatory requirements.

Partner with the Capital Markets team in connection with changes to Collection and Servicing Policies, to ensure they comply with contractual commitments.

Oversee and manage other attorney(s) responsible for servicing, collections and litigation related functions and assist in developing an experienced team as the group expands.

Review and comment on business and Regulatory Legal team policies and procedures, company training materials, customer facing letters, notices and other communications.

Research, track and report on federal and state legal developments related to collections and servicing; analyze and draft comments on proposed regulations and contribute to industry comment letters or requests.

Partner with Compliance professionals to assist in the design and implementation of appropriate compliance controls to align with the Compliance Management System and help with the Compliance Risk Assessment processes by maintaining an underlying legal inventory of applicable laws and regulations.

Research, track and report on federal and state legal developments related to the scope of the role, staying abreast of current legal developments and trends to determine potential impact or risks. Communicate relevant items to business partners and analyze impact of the changing legal/regulatory landscape on the business strategy.

Analyze and draft comments on proposed regulations and contribute to industry comment letters or requests where appropriate.

Participate in special projects in support of Oportun's strategic objectives; provide backup support for and coordinate with other Regulatory Legal team members, as needed.

Review and negotiate third-party service provider agreements relating to the use of AI and alternative data sources, credit reporting agencies and others to ensure compliance with regulatory requirements, internal and bank partner guidelines and applicable law.

Qualifications:
Juris Doctorate (J.D.) degree, qualified to practice law in a United States jurisdiction.

12+ years' experience as an attorney in a law firm or corporate law department.

7+ years' experience in consumer financial services law, as in-house at a financial services company, including substantial collections related experience.

Experience in the financial technology industry, including on use of AI, machine learning, alternative data and model building.

Experience managing and developing others, and identifying and attracting new talent, as the team grows.

In-depth knowledge of state and federal collection laws and consumer credit laws and regulations, including FDCPA/Reg F, TILA/Reg Z, ECOA/Reg B, FCRA/Reg V, SCRA, TCPA, and 50 state collection and consumer lending laws.

Ability to manage multiple conflicting priorities set by the business while still meeting internal department goals.

Effective written, interpersonal and communication skills with the ability to work as part of a team involving staff, clients, bank partners and outside agencies.

Strong analytical skills and ability to exercise sound judgment in providing and legal advice and assisting the business to implement such advice; ability to work independently, with minimal oversight, and partner with other legal team members as part of the Regulatory Legal team.

Excellent written and verbal communication/presentation skills, including the ability to persuade and influence management at all levels, including executive management.

Strong organizational skills, attention to detail and positive professional attitude.

Spanish fluency (written and verbal) a plus.

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Company Overview:
ABOUT OPORTUN

Oportun (Nasdaq: OPRT) is a financial services company and digital platform that provides responsible consumer credit to hardworking people in the United States. Using A.I.-driven models that are built on years of proprietary customer insights and billions of unique data points, we have extended millions of loans and billions of dollars in affordable credit to consumers, the majority of whom live in low-and moderate-income communities. Since about half of our new customers come to Oportun without a FICO score, we play a key role in the communities we serve by being able to offer them an affordable and credit-building alternative to payday and auto title lenders. In recognition of our responsibly designed products which help consumers build their credit history, Oportun has been certified as a Community Development Financial Institution (CDFI) since 2009.

With headquarters in California and a remote-first corporate culture, our 3,000+ team members work in Oportun locations and remotely throughout the United States, Mexico, and India. Our global operations include our Mexico contact centers and administrative offices, our India technology development center, and our US corporate, technology, and retail operations.

We feel privileged to have been named a "Top Workplace" by the Bay Area News Group for three years running, one of Fast Company's Most Innovative Companies in the World for 2020 and recognized as a TIME Magazine 2018 Genius Company for our impact in helping to reinvent the future of lending. For the last three consecutive years, we have been titled Top Workplace by the Bay Area News Group.

WORKING AT OPORTUN

Working at Oportun means enjoying a differentiated experience of being part of a team that fosters a diverse, equitable and inclusive culture where we all feel a sense of belonging and are encouraged to share our perspectives. This inclusive culture is directly connected to our organization's performance and ability to fulfill our mission of delivering affordable credit to those left out of the financial mainstream. We celebrate and nurture our inclusive culture through our employee resource groups and our Diversity, Equity, Inclusion and Belonging Council.

WE ARE AN EQUAL OPPORTUNITY EMPLOYER

We are proud to be an Equal Opportunity Employer and consider all qualified applicants for employment opportunities without regard to race, age, color, religion, gender, caste, national origin, disability, sexual orientation, veteran status or any other category protected by the laws or regulations in the locations where we operate.

We encourage you to apply for this position even if you do not match all the qualifications listed for this position. At Oportun, we will consider all experience on a candidate's application, and we are committed to building a team that encompasses a variety of backgrounds, experiences, and skills.
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