EMPOWER OVERVIEW
Empower is shaking up an outdated financial system by providing real opportunity for our customers: the opportunity to get the cash they need, to access fair credit, and to change their financial story. Today, we’re helping millions of people find financial security through machine learning models that evaluate creditworthiness using a more inclusive lens and mobile-first products: Cash Advance, Thrive line of credit, and Petal credit cards. Tomorrow? Creating even more financial paths for our customers (and their wallets) to succeed.
This year, Empower ranked #65 on Inc. 5000’s Fastest-Growing Private Companies list — our third year in a row cracking the top 100 — and was named by Forbes as one of the 25 Next Billion-Dollar Startups for 2024. Empower was also featured by Forbes on America’s Best Startup Employers list in 2023, and our Thrive line of credit product was named by Fast Company as one of 2022’s Next Big Things in Tech.
Empower is backed by Sequoia Capital, Blisce, and Icon Ventures. Ready to grow your impact and accelerate your career? Take a look at our open roles — we can’t wait to meet you.
THE EMPOWER WAY
Great Expectations: We come up with bold, audacious goals for ourselves and go all out for impact
Owner Mindset: We give every employee latitude to act independently, make smart choices, and move the business forward
Spirited Debate: We love skeptics and seek counter opinions to challenge our personal assumptions and expand our view
Customer Obsession: We listen to understand, empathize, and create a memorable, rewarding experience for our community
Inclusive Collaboration: We believe diverse teams make the best decisions, and we strive to give diverse voices a seat at the table
No Jerks Allowed: We value our relationships and take the time to build trust and connection and communicate respectfully
WHAT EMPOWER OFFERS
Competitive salary
Generous equity package
Full healthcare benefits
Technology expense reimbursement
Virtual first environment
About Cashalo
Empower is a fast-growing fintech on a mission to expand access to fair credit to give anyone the opportunity to improve their financial security and mobility. We recently launched in Southeast Asia through our acquisition of Cashalo, a leading online lending platform, and the fastest growing lender in the Philippines. Our mission to expand access to credit in the region will take creativity, passion, and drive.
About the role
The Compliance Associate will work closely with the Head of Legal and Compliance to ensure adherence to all applicable laws, regulations, and reportorial requirements. This role involves liaising with regulatory bodies such as the SEC, AMLC, NPC, and local government units, while also implementing and maintaining compliance policies, procedures, and internal controls. This position requires active collaboration with internal teams and external partners to maintain robust compliance standards.
Regulatory Compliance Framework
Assist the Head of Legal and Compliance in monitoring and ensuring compliance with all relevant laws, regulations, and reportorial requirements.
Liaise with regulatory bodies, including the Securities and Exchange Commission (SEC), Anti-Money Laundering Council (AMLC), National Privacy Commission (NPC), local government units, and other relevant government entities.
Implement, operationalize, and maintain compliance policies, procedures, and internal controls, ensuring they align with company objectives and industry best practices.
Ensure timely and accurate submission of all regulatory compliance reports to relevant authorities and external partners.
Collaborate with internal teams to enforce compliance policies, procedures, and controls across the organization.
Assist the Head of Legal and Compliance in developing compliance reports for the board of directors and other internal stakeholders.
Report to management and business units any compliance breaches and/or incidents, and provide findings, analysis, and recommendations in relation to the breach/incident.
Conduct regular compliance gap analyses of internal controls to ensure compliance with various applicable laws; recommend and implement remedial actions and process improvements.
Ensure management and employees are adequately trained on applicable laws, regulations, and responsibilities for internal controls, and maintain up-to-date training materials.
Cascade, implement, and maintain relevant regulatory compliance policies and other internal policies that adhere to company standards and internal guidelines.
Implement and maintain regulatory compliance policies and procedures in accordance with company standards and internal guidelines.
Collaborate with the Data Privacy Officer (DPO) and Human Resources (HR) to implement the company’s data privacy program and training initiatives.
Assist the Head of Legal and Compliance with other compliance requirements, including but not limited to licenses and permits with local government units.
SEC Compliance
Help oversee compliance with SEC regulatory and reportorial requirements specific to financing companies and online lending platforms.
Assist the Head of Legal and Compliance for all SEC-related matters, audits, and inquiries.
Coordinate with internal cross-functional teams and external partners to ensure compliance with SEC regulatory and reportorial requirements, including the timely filing of reports and documents.
AMLC Compliance
Document and update the company’s Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) policies and procedures to ensure alignment with relevant local laws and regulations.
Ensure the implementation and continuous compliance with AML/CTF policies, including conducting risk assessments and submitting necessary reports.
Develop and implement AML training programs to ensure employees are aware of and adhere to AML/CTF policies.
Conduct risk assessments, review and monitor Know Your Customer (KYC) policies, and oversee AML/fraud-related transactions and record-keeping.
Relationship Building/Maintenance
Regulatory Liaison and Networking: Build and maintain relationships with key regulatory authorities, facilitating communication and compliance updates.
Internal Audits and Investigations: Participate in internal investigations related to potential compliance violations and ensure corrective measures are implemented.
Qualifications
3-5 years experience in compliance, risk management, or related field, preferably within the fintech or financial services sector
Direct regulatory compliance experience in financial services, data privacy, AML, banking, payment services or other financial services
Strong understanding of regulatory requirements and frameworks, including , but not limited to SEC, AML, Privacy, FCPA, and other lending laws and regulations
Problem-solving and critical thinking skills with proactive self-starter approach
Strong operational, organizational, and multitasking abilities, with emphasis on accuracy and detail
Outstanding communication/collaboration skills across internal teams and engagement with external stakeholders
Strong proficiency in English
The Compliance Associate position is required to be on-site based on assigned work arrangements and schedules.
At Empower, we hire for people that push themselves to understand others and seek out ways to challenge their personal assumptions. Our hope is that by fostering such an environment, we strengthen our business and relationships by putting people first. We are committed to building a diverse, inclusive, and equitable workspace where everyone (regardless of age, education, ethnicity, gender, sexual orientation, or any personal characteristics) feels like they belong. Even if your experience doesn’t exactly match up to our job description, you should feel empowered to apply regardless!