Oportun. Inc

Regulatory Paralegal

Req No.
2021-10687
Department
Legal
Type
Regular Full-Time
Remote / WFH
Yes
Job Locations
US-CA-San Carlos

Company Overview

ABOUT OPORTUN

Oportun (Nasdaq: OPRT) is a financial services company and digital platform that provides responsible consumer credit to hardworking people. Using A.I.-driven models that are built on years of proprietary customer insights and billions of unique data points, we have extended millions of loans and billions in affordable credit, providing our customers with alternatives to payday and auto title loans. In recognition of our responsibly designed products which help consumers build their credit history, we have been certified as a Community Development Financial Institution (CDFI) since 2009.

 

OPORTUN’S IMPACT

Since extending our first loan in 2006, Oportun has made over 4 million loans, totaling over $10 billion to hardworking low- and moderate-income individuals. In turn, Oportun has helped more than 905,000 people begin establishing the credit history required to enter the financial mainstream. At the same time, Oportun’s customers have saved an estimated $1.9 billion in interest and fees compared to the alternatives typically available to them.

 

 

Overview

Oportun is looking to expand its world-class and highly experienced Legal and Compliance team responsible for serving as a strategic partner and providing sound legal advice to a mission-driven Company that offers affordable and credit building products. The position will provide legal advisory support for the origination of Oportun’s installment loan (unsecured and auto secured), credit card and bank partner products. This role will report to the Sr. Paralegal who works under the Sr. Director, Sr. Regulatory Counsel. The position will work closely with Oportun’s lawyers, Compliance officers, executive business partners and operational teams. This is an opportunity to work in a fast-paced, mission-driven organization where your contributions can have a meaningful impact on underbanked and unbanked consumers.  

Responsibilities

  • Research federal and state laws applicable to consumer loan originations, marketing, servicing and collections, including loan fees, usury rates, and loan restrictions, and maintain state-by-state matrices. 
  • Maintain federal and state legal monitoring system to track legal developments related to loan originations, servicing and collections, including statutes, regulations, regulatory guidance, consent orders, case law, etc. Coordinate with in-house regulatory counsel.
  • Perform legal research projects and prepare written analyses to support business requirements. 
  • Assist in responding to subpoenas.
  • Perform legal research, account review, compile documentation and organize materials to assist in-house and external counsel in managing consumer litigation claims/demands.
  • Assist in preparing state license filings and renewals, including assisting in researching licensing requirements.  
  • Assist in preparing and filing state license annual reports.

Qualifications

  • Bachelor’s degree or Paralegal certificate from an American Bar Association-approved program.
  • At least 3-5 years’ experience in consumer banking or consumer finance.
  • Experience with state regulators, including licensing and examinations preferred.
  • Must be a self-starter and detail-oriented. Strong legal research and writing, analytical, and organizational skills required.
  • Experience performing multi-state legal research, including administrative regulations and guidance.
  • Knowledge of state and federal consumer protection laws and regulations related to consumer finance, including TILA/Reg Z, ECOA/Reg B, FCRA/Reg V, ADA, SCRA, GLBA/Reg P, EFTA, SCRA and MLA and state consumer finance and lending laws.
  • Computer literate and proficient in Microsoft Word, Excel and Access, as well as Westlaw or Lexis. SharePoint a plus.
  • Ability to manage multiple conflicting priorities set by the business while still meeting internal department goals.
  • Effective interpersonal and communication skills with the ability to work as part of a team involving staff, clients and outside agencies. Positive professional attitude.
  • Ability to travel approximately about 10% - 20% of the time.
  • Fluency in Spanish is a plus.

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