Legal Counsel - Consumer Credit

About the role

WEFundo, a fast-growing Australian FinTech lender providing consumer credit products, is looking for a Legal Counsel to join its legal and compliance team. The role is hands-on, giving practical legal and compliance advice across operations, product, customer matters, marketing and growth initiatives. It reports to the General Counsel and Chief Compliance Officer.

Key responsibilities

• Provide legal advice on the National Consumer Credit Protection Act 2009, National Credit Code, ASIC Act 2001, responsible lending requirements and ASIC Regulatory Guides, and on privacy, data handling and direct marketing obligations under the Privacy Act 1988, Australian Privacy Principles and the Spam Act 2003.
• Draft, review and negotiate third-party commercial contracts with service providers, technology vendors, referral and marketing partners.
• Manage and improve the compliance framework for an ACL holder, including policies, procedures, registers, monitoring programs and controls.
• Carry out compliance reviews and assessments, identify gaps and work with stakeholders on remediation.
• Manage legal and compliance incidents end to end, including investigations, root-cause analysis, impact assessment, rectification and closure, and advise on ASIC breach reporting.
• Support complaints, hardship, collections, vulnerable customers and other complex matters, and support privacy incidents and data breaches, including regulatory and customer notification where required.
• Advise on AML/CTF obligations and the AML/CTF framework, including customer due diligence, transaction monitoring, escalation and reporting.
• Advise on new products, pricing, fees and customer journeys, review marketing collateral against ASIC Regulatory Guide 234, and liaise with ASIC, AFCA, AUSTRAC and other regulators.

Required profile

• At least three years' relevant experience in legal, regulatory or compliance roles.
• Prior experience in an Australian financial services organisation with an ACL and/or AFSL is highly desirable.
• Experience with complaints, hardship, collections, product initiatives, marketing review and commercial contracts is highly regarded.
• Experience dealing with ASIC, AFCA, AUSTRAC or other regulators is desirable.

Required skills

• National Consumer Credit Protection Act 2009, National Credit Code, responsible lending and ASIC Regulatory Guides
• ASIC Act 2001, Privacy Act 1988, Australian Privacy Principles, Spam Act 2003
• AML/CTF legislation and rules, ASIC breach reporting, IDR/AFCA requirements, financial hardship and debt collection requirements

What we offer

• A paid gym membership
• A fully stocked office with free drinks and snacks
• Monthly birthday cake celebrations