Regulatory Counsel

Description

JOB TITLE: Regulatory Counsel

LOCATION: LOCATION: Los Angeles, CA (Hybrid in our Westwood Office: 3 days on-site; 2 days remote)

The Company:

Sunbit builds financial technology for real life. Our technology eases the stress of paying for life’s expenses by giving people more options on how and when they pay. Founded in 2016, Sunbit offers a next-generation, no-fee credit card that can be managed through a powerful mobile app, as well as a point-of-sale payment option available at more than 20,000 service locations, including 1 in 3 auto dealerships, optical practices, dentist offices, veterinary clinics, and specialty healthcare services. By introducing a flexible way to pay over time, we are proud of our ability to lift up service providers and retailers while helping consumers when necessary expenses arise... regardless of whether they were expected or unexpected.  

Sunbit was included on the 2022 Inc. 5000 list. The financial technology company has also been named as a Most Loved Workplace®, Best Point of Sale Company, and as a Top Fintech Startup by CB Insights. 

We use cutting-edge innovations in financial technology to bring leading data and features that allow individuals to be qualified instantly, making purchases at the point-of-sale fast, fair and easy for consumers from all walks of life. We create value focused on our core values; we work tirelessly to ensure that Sunbit becomes available to everyone, everywhere.

Sunbit is proud to be recognized on the CB Insights List of Unicorn Companies, with a valuation of $1.1B. (https://www.cbinsights.com/research-unicorn-companies)

The Role:

We are looking for a Regulatory Counsel to support Sunbit’s growing product offerings. You will work on assisting business partners on offering and servicing a growing portfolio of consumer-friendly and compliance-friendly consumer financial products focused on financing nondiscretionary goods and services.

In this role, you will work with the Legal & Compliance, Business, Operations, Product, and Engineering teams in providing legal and regulatory advice on consumer finance, privacy, electronic payments, consumer communications, and collections matters. 

Requirements

What You'll Own:

• Conduct legal research and advise business partners on various consumer finance matters, including, but not limited to, consumer marketing, credit origination, servicing, electronic payments, collections, consumer privacy, data protection, and AML/BSA.
• Advise business on various consumer communication campaigns and review marketing materials, customer communications, and servicing and collection materials.
• Collaborate with the Legal & Compliance team to provide timely and actionable advice on the installment loan product to business, engineering, and product managers.
• Monitor federal, state, and local legislative and regulatory developments and advise the Legal & Compliance team.
• Review and revise internal company policies and programs, including, but not limited to, the Truth in Lending Act, Fair Lending, the Fair Debt Collection Practices Act, the Red Flag Rule, and AML/BSA.
• Review, update, and create materials for the Training Department to distribute.
• Work independently and/or with outside counsel to manage any litigation matters.
• Oversee Sunbit’s nationwide licensing compliance program, including managing and advising on responses to state audits and examinations, working across departments to identify new licensing requirements as new products are created, and supervise staff that maintain current licenses.
• Handle other projects and assignments.

What You Bring To The Table: 

• A JD or LLM degree from an ABA-accredited university and active membership in the State Bar of California.
• Preferably at least 3 years of experience counseling teams or clients on consumer finance laws and regulations, but willing to train the right candidate.
• Willingness and interest in taking on new and additional responsibilities as Sunbit and its business grows.
• Must be a self-starter.
• Sustained interest in designing and improving procedures and resources to optimize the Legal & Compliance team’s workflow.
• Ability to exercise independent legal judgment.
• Ability to prioritize and manage a diverse mix of matters with minimal supervision.
• Strong research, analytical, and problem-solving skills.
• Impeccable organizational and project management skills.
• Attention to detail is a must.
• Superior interpersonal and communication skills, including distilling complicated legal matters into concise instructions, fostering a productive working relationship with federal and state regulators, and engaging directly with opposing counsel in adversarial matters.
• Intellectual curiosity in consumer finance and willingness to work directly on certain compliance functions to more quickly learn.
• Experience working in a heavily regulated industry is a plus.
• Experience managing regulatory licensing matters is a plus.
• Litigation background, especially in consumer finance, is a plus.

The Perks:

• Join one of LA’s fastest growing startups (2023), A Most Loved Workplace, #576 on the 2023 Inc 5000 list, and Forbes Fintech 50 (2024), #161 on Deloitte Technology Fast 500 list
• Mission driven + empowered + collaborative
• Competitive pay and stock options
• Unlimited PTO
• Health Insurance options including Medical, Dental, Vision, Life, EAP, FSA, & Maternity Leave
• Newly added HSA and Pet Insurance
• 401K Plan with Matching 
• Cell Phone Stipend 
• Casual Dress
• Open door policy / Open office floor plan
• Team based strategic planning + Team owned deliverables

How We Pay: 

• We believe in paying fairly and equitably based on a number of factors including but not limited to previous experience, relevant work history, interview performance, geographical location, internal equity, and expected level of ownership.
• We are targeting $115,000 – $165,000 per year for this role.
• This role will also be granted company equity via stock options

Cultural Competencies for Success at Sunbit:

• Serve others before self - Service oriented mindset 
• Own the impact - Maintain and build our relationships
• Connect genuinely - Effectively connect with people and be a proud Sunbit ambassador 
• Act fast - Respond to internal team members in a timely manner
• Include always - Work closely with team and actively welcome peers within the organization
• Innovate for good - Help our current and prospective merchants utilize Sunbit’s innovative technology to help patients and customers alike

Sunbit is an Equal Opportunity Employer. We strive to provide a professional & welcoming workplace for all employees.

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