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Novo is a modern banking platform for small businesses, offering checking accounts and financial tools to help entrepreneurs manage cash flow and business transactions. The company is powered by Middlesex Federal Savings and is on a mission to democratize business banking.
The Compliance Specialist will play a key role in Novo's risk and compliance team, taking a data-driven approach to ensure the company meets regulatory requirements while maintaining innovation. This is an individual contributor role with significant autonomy and cross-functional collaboration.
Key responsibilities include:
- Monitor and manage the Compliance Portal, escalating approvals, inquiries, and issues from business lines; identify and recommend enhanced practices
- Develop and implement new compliance programs and enterprise-wide initiatives
- Research and assess regulatory requirements (statutes, regulations, bulletins) to support risk assessments and compliance testing
- Execute accurate work within tight timeframes across multiple business lines
- Perform analysis, identify trends, and recommend enhancements with minimal supervision
- Partner with risk and compliance team members to gather data for third-party audits, internal testing, and risk assessments
- Design and maintain compliance reporting libraries, shared drives, and documentation repositories
- Evaluate and adopt new technologies and analysis tools
- Execute control testing and document results aligned with annual testing schedules
- Communicate complex compliance matters clearly to stakeholders
- Investigate incoming complaints from regulatory and BBB channels; draft responses
- Support responses to regulatory inquiries and examinations
The ideal candidate has at least 5 years of audit, compliance, or risk management experience, with 3+ years partnering with internal stakeholders. Strong analytical skills, attention to detail, and the ability to interpret regulatory information are essential. The role requires excellent communication, time management, and the ability to navigate ambiguity in a fast-changing fintech environment.
Nice-to-have qualifications include fintech or sponsor bank experience, SQL scripting, relevant certifications (CRCM), and experience with data systems or reporting tools.
