Compliance Specialist

About the role

novo is seeking a Compliance Specialist to join our Risk and Compliance team. This role involves a data-focused approach to compliance and requires effective communication with internal teams and external partners. If you are interested in balancing innovation with regulatory adherence in the small business banking sector, we encourage you to apply.

Key facts

What you'll do

• Oversee the Compliance Portal, managing escalations for approvals, inquiries, issues, and enhancements related to compliance and risk matters from various business units. Propose and implement improvements to existing practices.
• Contribute to the creation and rollout of new compliance programs and company-wide initiatives.
• Investigate and evaluate new and proposed regulatory requirements, including statutes, regulations, and bulletins, to support risk assessments, program development, and compliance testing.
• Complete assigned tasks accurately and within specified timelines, working collaboratively with different business units.
• Develop and refine a system for generating reports for management and banking partners.
• Independently analyze data, identify trends, and pursue opportunities for improvement.
• Collaborate with other members of the risk and compliance team to extract and analyze data for third-party audits, internal compliance checks, risk assessments, and other requests.
• Support the organization and maintenance of compliance reporting libraries, shared drives, and documentation archives.
• Quickly learn and apply new technologies and analytical tools.
• Conduct control testing, document findings, and provide updates to business units to ensure alignment with the annual testing schedule.
• Clearly and concisely explain complex situations to others.
• Investigate and prepare responses for complaints received through regulatory and Better Business Bureau channels.
• Assist in responding to regulatory inquiries and examinations.

Requirements

• A minimum of 5 years of experience in audit, compliance, or risk management.
• At least 3 years of experience collaborating with and supporting internal business stakeholders.
• Proven ability to translate complex information and data into clear, engaging communications for key stakeholders in various formats.
• A solid understanding of compliance or risk management principles and a desire to deepen expertise in multiple compliance areas.
• Capacity to work independently on challenging assignments, demonstrating strong analytical skills, meticulous attention to detail, and the ability to interpret regulatory information.
• Excellent time management, organizational, and prioritization skills, with the ability to manage multiple concurrent tasks accurately and by strict deadlines.
• Adaptability to navigate ambiguity in a rapidly evolving environment, taking initiative beyond direct responsibilities to contribute to overall success.
• A commitment to being a dependable collaborator with various business stakeholders across different units.
• Strong research and communication abilities.

Nice to have

• 2 or more years of experience in the Fintech industry or with a Sponsor/Partner Bank.
• 1 or more years of experience with SQL scripting.
• Completion of relevant coursework or professional certifications in compliance, risk management, or data analytics (e.g., CRCM or equivalent).
• Experience using data systems or reporting tools.

Skills & tools

• Compliance Management Systems
• Risk Assessment Methodologies
• Regulatory Research
• Data Analysis
• Report Generation
• Communication Tools
• Documentation Management

Practical notes

• Visa sponsorship is not available for this position.
• Travel is not expected for this role.
• Benefits include health, dental, and vision insurance, paid time off, and a 401(k) plan.
• To apply, please submit your resume and a cover letter detailing your relevant experience.