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 and oversee a team responsible for advising on legal matters relating to the underwriting and origination of Oportun's installment loan, auto, credit card and bank partner products. In this role, the Regulatory Lawyer will report to the Vice President, Product & Regulatory Legal, and will work closely with Oportun's 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.

  • Act as trusted advisor to the business in providing consumer finance legal advisory support across multiple products and an expanding business model, with a focus on the origination of auto finance, credit card and unsecured lending products through different channels including online, telesales and retail locations.
  • Management and oversight of experienced lawyers providing support to the Oportun business, risk and operational teams focused on the underwriting and origination of lending products.
  • Partner with the AI/Chief Data Scientist, Risk Management and the Chief Risk Officer, advising on the use of innovative technologies, artificial intelligence, machine learning in the pricing, underwriting and origination of consumer finance products and services, including analysis of credit risk and pricing models and advice related to fair lending and UDAAP.
  • Provide legal support, review and analysis of numerous models used in the underwriting, pricing, fraud detection, and collection of consumer loans, and advise on the use of third party and alternative data sources to verify consumer information.
  • Support the origination of all loan products and the creation of a low-touch/no-touch application flow to reduce customer friction while maintaining legal, business, bank partner and regulatory requirements.
  • Evaluate and support options to offer new lending products and partnerships that further the corporate mission in all 50 states and globally.
  • Work closely with senior business leaders, including product owners, data engineers, IT, Operations, Risk Management, Customer Experience, Marketing and others.
  • Provide legal support and feedback in reviewing marketing, policies, procedures and training, to conform to Oportun, regulatory and bank partner requirements.
  • Support the Marketing team, including the Chief Marketing Officer; review and revise marketing strategy and materials including digital marketing, prescreen offers, lead generation and referrals.
  • Review and advise the business on sales practice guidelines in connection with sales incentive plans.
  • Provide legal advice in partnership with Compliance on Anti-Money Laundering/BSA and OFAC matters, across all Oportun products.
  • Partner with Compliance professionals to assist in the design and implementation of Compliance Management Program, including Compliance Risk Assessments and an underlying legal inventory of applicable laws and regulations.
  • Research, track and report on federal and state legal developments related to the products within the scope of the role, staying abreast of current legal developments and trends to determine potential impact or risks. Communicate relevant items to business partners and analyze impact of the changing legal/regulatory landscape on the business strategy.
  • Analyze and draft comments on proposed regulations and contribute to industry comment letters or requests where appropriate. Communicate relevant items to business partners and analyze impact of the changing legal/regulatory landscape on the business strategy for areas of responsibility.
  • Participate in special projects in support of Oportun's strategic objectives; provide backup support for and coordinate with other Regulatory Legal team members, as needed.
  • Work with commercial attorneys to review third-party service provider agreements, including agreements with outsourced and/or offshored service providers, to ensure compliance with CFPB standards, internal guidelines, bank partner standards and applicable law.

  • Juris Doctorate (J.D.) degree, qualified to practice law in a United States jurisdiction.
  • 10+ years' experience as an attorney in a law firm or corporate law department.
  • 7+ years' experience in consumer financial services law, as in-house at a financial services company, including experience with the bank partner model.
  • In-depth knowledge of state and federal consumer credit laws and regulations, including TILA/Reg Z, ECOA/Reg B, FCRA/Reg V, ADA, SCRA, TCPA, GLBA/Reg P, EFTA, AML/BSA and state consumer finance and lending laws.
  • Experience working with federal and/or state regulators is a plus.
  • Ability to manage multiple conflicting priorities set by the business while still meeting internal department goals.
  • Effective written, interpersonal and communication skills with the ability to work as part of a team involving staff, clients, bank partners and outside agencies.
  • Strong analytical skills and ability to exercise sound judgment in providing and legal advice and assisting the business to implement such advice; ability to work independently, with minimal oversight, and partner with other legal team members as part of the Product & Regulatory Legal team.
  • Excellent written and verbal communication/presentation skills, including the ability to persuade and influence management at all levels, including executive management.
  • Strong organizational skills, attention to detail and positive professional attitude.
  • Spanish fluency (written and verbal) a plus.