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HIRE A FOUNDATIONAL CHIEF COMPLIANCE OFFICER WHO IS READY TO LEAD

Jamie Uppenberg has the experience to take on the role of CCO and guide your FinTech through building a compliance program.

Your FinTech has struggled to find the right CCO.

You might have talked with compliance professionals who have worked at medium to large companies.

You need a compliance program that’s built from the ground up.

Jamie is a leader that can step in as CCO, take responsibility, and methodically build your compliance program.

“Jamie’s just easy to work with, can take complicated activities and break them down so it’s easier to understand what to do, know what our obligations are.”

Gunnar Cuevas

CEO, CARL Inc.

Finding the right CCO is critical for your FinTech

In FinTech, anything can happen. Banks can suddenly turn off services (it happens more often than you think) or a critical partner can suddenly take your company through serious due diligence and be on the verge of turning off service with little notice.

You want someone who has seen these actions, successfully maneuvered through potentially business-ending conversations, is not surprised, and knows how to handle the “your product/environment isn’t compliant!” push-back you will get at some point.

Many FinTechs face these challenges at some point during their growth. Get a professional on your side to talk you through some of the best options in these tough situations.

Ideally, your compliance program is stood up and effective before these difficult situations arise. Regardless, whether you are currently experiencing these challenges or have gotten through one round of them, Jamie is prepared to lead your compliance team.

Hiring a Foundational Chief Compliance Officer

This is becoming increasingly popular. It’s a struggle for FinTechs to find a CCO who can build a program from the ground up. There are plenty of compliance professionals who have worked at medium to large companies who generally know compliance, but simply don’t have the understanding that it requires a methodology to build a program when you are starting with no documents, no structure, and little internal expertise.

With Jamie as CCO, your firm will get:

A quickly built compliance environment
An overall Company Risk Assessment so you can self-assess current and future risk and compliance effectiveness
Controllers who own risk and compliance within their departments, or a way to understand when/if your controllers aren’t maintaining their compliance responsibilities
Personnel communications and training that enable a culture of compliance overall, with methods you can continue to use to ensure you continue that culture long after Jamie’s work is done

When Jamie takes a Foundational Chief Compliance Officer role she understands she has to bring in:

The method the firm will use. From documents to evidence to committee structures, firms need a method that ties together, makes sense, and is just easy to implement.
Training for all employees on why they’re being asked to do these seemingly administrative activities and what’s the value.
Coaching for controllers on how to control their own environments. From marketing through onboarding and transaction monitoring, many FinTechs haven’t hired bankers; they need to know the additional risk mitigation job requirements that come with their leadership.

Benefits of working with a consultant

Leadership

Jamie is ready to lead your team through the creation and execution of a compliance program.

Methodology

Jamie has a proven method to create structure, documentation, and internal expertise.

Culture of Compliance

Jamie can train your team and build a culture that will continue when her work is done.

FAQs

Does my Chief Compliance Officer have to be full-time?

Only if you’re applying for a money transmitter license in a state that has a requirement for a full-time CCO. Beyond that, whether you need a full-time CCO is subjective to the size of the business, amount of traffic and/or transactions, and how robust your compliance program already is.

How long does a Foundational Chief Compliance Officer stay with the firm?

It’s entirely up to the needs of the firm, while usually anywhere from 6 – 24 months.

Why don’t I just go hire a permanent Chief Compliance Officer?

There are many reasons, but a few top ones are:

Many firms have tried this, and the results were not great; with a Foundational CCO we perform as we’ve committed, or you can just let us go (this has never happened while firms really like the flexibility in the beginning to test delivery).
Hiring someone to build a program is generally more expensive than hiring someone to run a shop that’s humming; so, it can be less expensive in the long term.
FCCO brings the expertise of the build multiple times over, which is pretty difficult to find in market.