Partner Diligence

📋 Description

• • Column is revolutionizing the financial services landscape by building a bank and software company from the ground up, designed to empower fintech innovators. We address the significant bottleneck that traditional banking infrastructure presents to companies building financial technology. Our mission is to simplify and fix the complex, often expensive, banking supply chain that currently involves multiple intermediaries between users, fintechs, BaaS providers, banks, core systems, and the Federal Reserve. By offering technology-forward banking solutions, we eliminate these hundreds of vendors and middleware providers, creating a safer, more transparent, and cost-effective ecosystem for our partners.
• • The Partner Diligence team is at the forefront of this mission, leveraging deep regulatory compliance expertise to manage the entire lifecycle of our fintech partners. This includes rigorous diligence, comprehensive risk assessment, thorough control review, approval processes, and seamless onboarding. In a rapidly evolving regulatory environment for fintech-banking partnerships, Column is committed to not just meeting, but exceeding regulatory expectations. This role is crucial in upholding that commitment.
• • As a key member of the Partner Diligence team, you will be instrumental in identifying, assessing, and mitigating the compliance risks associated with both consumer and commercial partnerships. Your work will directly contribute to the implementation of a best-in-class Third-Party Risk Management (TPRM) program, which is fundamental to the success of Column's business model and the growth of our partnership business. This is a unique opportunity to significantly influence the Bank's strategic direction, drive growth, ensure safety and soundness, and contribute to overall success.
• • Reporting to the Bank's General Counsel and Chief Risk Officer, you will be responsible for the end-to-end risk management of third-party partner onboarding. This involves a deep dive into prospective partners' operations, including a thorough review of their policies, procedures, customer agreements, terms of service, audit reports, marketing materials, and disclosures. You will collaborate closely with clients' and partners' compliance teams to understand, evaluate, and document their internal compliance controls, ensuring they align with Column's high standards.
• • A significant part of your role will involve advising on applicable compliance risks, assessing their severity, and recommending appropriate internal controls. You will be adept at identifying risks and issues, conducting root cause analyses, overseeing remediation efforts, and ensuring effective risk reporting and escalation to senior management. Your expertise will be vital in developing corrective actions to ensure any open issues are resolved before a partner launches.
• • Furthermore, you will play a critical role in defining the compliance requirements for our partners and establishing ongoing monitoring and reporting standards for Column's oversight once partners are live. This proactive approach ensures continuous adherence to regulatory standards and Column's risk appetite.
• • You will assess third-party risks within the context of Column's established risk appetite, limits, and thresholds, ensuring that all partnerships align with our strategic objectives and risk tolerance. Your involvement in the governance program will be essential, contributing to the development and maintenance of effective TPRM committees, policies, procedures, and reporting mechanisms.
• • This role demands a blend of hands-on execution and strategic thinking. You will be expected to "roll up your sleeves" to conduct detailed diligence one day, and then pivot to setting strategic direction for risk management the next. A scrappy, strategic, humble, and intellectually rigorous approach is key. You will need a deep understanding of commercial banking products, their associated regulatory requirements, and product-specific risks, such as those related to lending, deposits, and cross-border payments.
• • Fluency with key regulations is paramount, including those governing Fair Lending, Privacy, Funds Availability, Truth in Lending, Electronic Funds Transfers, NACHA, E-Sign, UDAAP, and Prepaid Access. Your ability to present complex information clearly and concisely to senior management, the Board, and regulators will be a critical success factor. Strong verbal and written communication skills are essential for this role.
• • While not strictly required, basic familiarity with BSA/AML and OFAC requirements is preferred, adding another layer to your comprehensive understanding of the regulatory landscape. This position offers a unique opportunity to shape the future of fintech banking partnerships and contribute to Column's mission of building a more accessible and efficient financial ecosystem.