Compliance

At Aven, the Compliance professional is tasked with ensuring that our mortgage and secured lending products adhere to various federal and state regulations, internal policies, and best practices. Responsibilities include monitoring compliance with laws like TILA and RESPA, supporting compliance training, conducting audits, and collaborating with teams across the company on compliance-related issues.

The Compliance role at Aven requires a Bachelor's degree in finance, business, legal studies, or a related field, along with at least 3 years of experience in a compliance or regulatory role, ideally within fintech, banking, or mortgage sectors. Additionally, strong knowledge of applicable lending laws and analytical skills are paramount.

Aven ensures compliance with state-specific lending laws by actively monitoring and researching regulations that impact lending practices. This includes staying updated on licensing requirements, foreclosure processes, and usury laws, which are integrated into our compliance monitoring and training practices.

Essential skills for the Compliance position at Aven include strong analytical thinking, attention to detail, effective written and verbal communication, and problem-solving abilities. Familiarity with compliance monitoring tools and task management systems like Asana is also beneficial.

Compliance is crucial in the fintech industry, as it ensures that innovative financial products are safe and responsible for consumers. At Aven, maintaining compliance not only adheres to the law, it fosters trust with our customers and partners while allowing us to operate within the evolving regulatory landscape.

When answering this question, dive into specific responsibilities you've held, such as monitoring compliance with TILA and RESPA, conducting audits, or updating policies. Highlight your successful outcomes and the impact your work had on maintaining regulatory integrity.

Explain your proactive approach to keeping informed about compliance legislation, which could include attending industry conferences, subscribing to regulatory updates, or being a part of professional compliance associations. This shows your commitment to ongoing learning.

Discuss specific compliance monitoring tools or regulatory databases you've used in past positions, emphasizing your familiarity with technologies that improve efficiency in compliance management. Make sure to mention any experiences with task management software like Asana.

Be prepared to narrate a situation where you encountered a compliance issue, describing your analytical approach to solve it, whether it involved researching regulations or collaborating with teams. Focus on the steps you took and the positive outcome of your actions.

When discussing UDAAP (Unfair, Deceptive, or Abusive Acts or Practices), emphasize its critical role in protecting consumers and ensuring fair treatment in the financial industry. Relate this to your understanding of how your past work has aligned with these principles.

Describe your approach to managing customer complaints by emphasizing your strong communication skills and the importance of resolving issues quickly and respectfully. It’s beneficial to share a specific example where you effectively addressed a customer's concerns.

In your response, outline your audit experience—what processes you audited, the findings, and how you facilitated corrective measures. Be sure to mention any impact your audits had on improving compliance or business practices.

Discuss your strategy for working with product and engineering teams to integrate compliance considerations from the initial stages of product development. Highlight the importance of open communication and collaboration to ensure compliance is not an afterthought.

Articulate how compliance is foundational to Aven’s reputation and success. Explain that it safeguards consumers, enhances trust, and ultimately supports Aven’s goal of restructuring consumer credit responsibly and sustainably.

Offer insights into current challenges like rapidly evolving regulations, maintaining regulatory technology, and the balance between innovation and compliance. This shows your awareness of the landscape and readiness to tackle such challenges.