Paramount Capital Group is seeking an individual who loves organization, improvement, and accuracy to join our growing Compliance Team. As a Compliance Associate, you will assist in the continued development and maintenance of a strong compliance program under the supervision of the VP, Compliance and ensure that the business operations of Paramount are conducted in a manner that is compliant with applicable federal and state laws and regulations, as well as Paramount’s internal policies, procedures, and practices.
Paramount is a Loan Servicer, licensed for student and consumer lending in the United States. Prior experience in a licensing, internal audit, or paralegal role, specifically in the banking and/or consumer finance industry, is preferred.
Paramount is a rapidly growing organization. The Compliance Team has great opportunities for growth and expanded responsibility for those who aspire to exceed expectations.
Essential Qualities:
- You are known for your attention to detail, for your organization, for your ability to follow directions.
- You are driven. You love setting goals and meeting them.
- You are naturally curious; it bothers you not to understand how a process works or why it exists.
- You are a reader who can independently process technical and complicated subject matter.
- You embrace technology.
- You approach your role with a “big picture” mindset, knowing that you are serving the organization, clients, and coworkers by helping to create a superior level of compliance and efficiency.
Skills/Experience:
- Experience coordinating large requests with multiple internal teams
- Familiarity with internal controls
- Experience with NMLS (Nationwide Multistate Licensing System), including new license applications, processing renewals, periodic reporting, and facilitating examination information requests.
- Familiarity with consumer lending products and services
- Effective communication with an emphasis on professional writing in plain English and efficient process documentation.
Responsibilities:
State Licensing
- Work with outside vendors to facilitate license applications, renewals, and periodic reporting.
- Contribute to information requests as needed for regulatory examinations providing timely deliverables and feedback to the VP of Compliance.
Vendor Management
- Contribute to the design, implementation, and administration of vendor management program including but not limited to:
- Conducting third-party vendor due diligence through questionnaires and policy/procedure reviews.
- Review documents and information provided to ensure legal and compliance requirements are met. Distributes to internal stakeholders for feedback and input.
- Maintain updated vendor contract documentation in a secure manner.
- Obtain updated documentation as needed to confirm vendors continued eligibility.
Compliance Management System (CMS)
- Perform scheduled weekly and monthly Compliance Audits.
- Assist with conducting compliance monitoring reviews and testing to identify any deficiencies, exception tracking.
- Work with the VP, Compliance to verify recommendations or corrective actions are implemented promptly and effectively.
- Contribute to the continued development and maintenance of the compliance management system including the company's policies, procedures, testing, and reporting at a level sufficient to detect and correct program deficiencies.
- Monitoring employee training assignments.
- Assist with document management.
- Conduct preliminary research and due diligence requests as needed, coordinating with Client Service Team and VP, Compliance
- Stay informed of regulatory requirements applicable to business practices through resources like webinars, industry updates, regulatory publications, legal library. Occasionally attending seminars, conferences and workshops may be necessary.
- Continued progression to other compliance responsibilities.
- Other duties/projects as assigned.
Job Type: Full-time
Salary: $50,000 - $60,000[JR1] [MF2] per year
Benefits:
· 3 weeks PTO [JR3] [MF4]
· Company 401(k)
· Employee Health/Dental insurance
· Supplemental Life insurance
Hybrid Schedule – 3 days per week in the office
Job Type: Full-time
Pay: $50,000.00 - $60,000.00 per year
Benefits:
- 401(k)
- Dental insurance
- Health insurance
- Life insurance
- Paid time off
- Vision insurance
Schedule:
- 8 hour shift
Experience:
- Business requirements: 2 years (Preferred)
Work Location: Hybrid remote in King of Prussia, PA 19406