Director of Compliance
Vestwell
WHO ARE WE?
There are over 30M small businesses in the United States, but only a tiny fraction of them have a workplace savings program in place. As the savings gap in the country widens, it’s imperative that every worker has access to and participates in their company’s savings program, such as a 401(k) or 403(b). We believe that American workers should have easy access to an inexpensive, flexible, and intuitive solution to save for a brighter future.
Unfortunately, prior to Vestwell, small businesses have been neglected and underserved, with expensive, inflexible, poorly designed offerings built on old, mainframe software. Vestwell is changing that, starting with rebuilding the core infrastructure for the modern era.
Vestwell’s north star is to be the engine behind a $30T industry, powering all payroll-deducted workplace savings programs for small-to-midsize businesses, such as 401(k), 403(b), IRA, emergency savings accounts (ESA), health savings accounts (HSA), 529 college savings, and alike.
Vestwell’s focus is to build the most flexible, powerful workplace savings and investment platform, delivered through the hands and minds of their financial services partners with the help of payroll provider partners. The team at Vestwell makes the hard stuff look easy, by combining the expertise of financial advice with the sophistication of a technology provider.
As a result, workplace providers are able to bestow the advice and solution employers and employees have been asking for, while growing and scaling along the way. Employers get a cost-effective solution designed for their needs without all the headaches, and employees get a user-friendly portal that helps them achieve their long-term saving goals.
WHY VESTWELL?
With backing from leading FinTech investors, as well as a growing team of dedicated professionals of strong industry pedigree, Vestwell is at the forefront of a much-needed change in a 40-year old industry. Our team believes in the mission we’ve set out to achieve and we are working hard to get there. We’re ambitious, honest, thoughtful, and fun.
WHO ARE WE LOOKING FOR?
We are seeking an energetic and reliable professional to join our Legal and Compliance Team as a Director of Compliance, Banking, and Custody and report into the General Counsel and Chief Compliance Officer of Vestwell. You will be responsible for providing end-to-end compliance support for Vestwell’s highly regulated businesses, developing and overseeing a risk management framework and testing protocols. As a successful candidate, you must be agile, with a demonstrated ability to pivot and manage a workload properly and timely, and able to work as part of a close-knit team in a fast-paced environment of a highly regulated financial services company.
WHAT WILL YOU BE DOING?
- Full compliance support for Vestwell’s banking/savings offerings, trust company, IRAs, and Broker-Dealer products
- Build and manage a compliance function to support these growing parts of Vestwell’s business including but not limited to: writing policies and procedures, training our employees, reviewing marketing materials
- Serve as the company liaison with FINRA and any state regulators and will take the lead on handling all FINRA filings and examinations
- Partner closely with the General Counsel to develop contract templates, and disclosures, and handle incidents and exceptions
- Accountable for full compliance for Vestwell’s cashiering and custody operations
- Create policies and procedures and work closely with our operations business to provide training and develop a risk management framework
- Implement a monitoring protocol for compliance with applicable law
- Coordinate and lead all aspects of Vestwell’s annual SOC audits and regulatory exams in partnership with our other compliance directors and internal stakeholders
- Ad-hoc compliance support for Vestwell’s other business functions, including assistance with vendor oversight and other general activities of Vestwell’s growing Legal and Compliance Team
REQUIREMENTS
- Bachelor’s degree required
- Five years of experience leading compliance initiatives, writing procedures, conducting training, preparing for regulatory exams at a regional or large bank
- Ability to manage multiple tasks simultaneously with attention to detail while working in a fast-paced, deadline-driven environment
- Ability to deliver results with a sense of urgency
- Must be a collaborative team player with the ability to leverage resources and tools to accomplish objectives
- Excellent time management, organizational, problem-solving, and research skills.
- Ability to exercise good business judgment, discretion, and maintain confidentiality of sensitive information
- Strong written and verbal communication skills
- Professional and positive demeanor
- Excellent attention to detail and accuracy, proficient with numbers and basic calculations.
- Proven ability to problem-solve and synthesize information quickly and be familiar with G-Suite, Microsoft Office, Slack, Zoom, Adobe Acrobat, DocuSign, Atlassian applications, and legal research and software applications
Vestwell values people from all walks of life. We understand not everyone will meet all the above qualifications on day one. That's okay. If you’re passionate about financial wellness, technology, compliance, and want to grow your skills, we encourage you to apply.
The estimated salary for this role at Vestwell ranges from $130k - $150k, with a bonus variable, and a competitive equity package. Actual compensation is based on factors such as the candidate's skills, qualifications, location, and experience.
OUR BENEFITS
We’re a growth stage startup with lots of exciting milestones ahead. We value health and wellness at Vestwell and in addition to a dedicated Employee Wellbeing Committee, we offer competitive health coverage and an open vacation policy. We have adopted a remote-hybrid office policy, but all employees are welcome at our bright, comfortable office with many workspace options in midtown Manhattan so everyone has a setting that is the most productive for them. We provide our team with all the equipment they need (plus a few perks!) to work effectively remotely. Oh, and naturally we have a great 401(k) plan!
OUR PROCESS
It starts the same for every candidate: getting to know the team members through 1 - 2 conversations about Vestwell, your experience, and your interests. Next steps can vary by role, but the usual next steps are a skill or experience screen (e.g. a coding interview for an Engineer, a portfolio review for a Designer, deeper experience call for other roles) which leads to a virtual or in-person interview panel after that if the screens go well. Before making an offer, our interview process concludes with a references check stage for your recruiter to meet with a current or former supervisor and peer. We prioritize transparency and lack of surprise throughout the process.
For your awareness you will only receive correspondence from recruiting@vestwell.com any other domain not ending in Vestwell.com is not our Recruitment team.
Vestwell’s Privacy Policy. Attention California residents: In the course of conducting our business and complying with federal, state, and local government regulations governing such matters as employment, tax, insurance, etc., we must collect Personal Information from you. Should you accept employment with Vestwell you may view our California Privacy Rights Act here: Vestwell’s California Privacy Rights Policy.