Director/Sr. Director Benefits Compliance

About First Dollar

Today, over 112 million Americans have access to health spending benefits. And, as healthcare costs continue to rise, the individuals and organizations that use and offer health spending benefits will depend on them even more. But if you look behind the curtain of most programs today, you'll find a hodgepodge of legacy tech solutions that create barriers to benefit design and access.

First Dollar is tackling this challenge. We build software tools and APIs that enable organizations to design, launch, and manage DC-FSAs, FSAs, LP-FSAs, LSAs, HRAs, HSAs, rewards, supplementals, and more. We power the “health wallet” for all healthcare spending, acting as a single touch point for any consumer healthcare transaction. And in our work, we leverage modern engineering advances and human-centered design principles to offer the most advanced solution on one card, app, and API.

Our team includes educators, entrepreneurs, industry experts, musicians, and technologists. Several of us are new parents, many of us have built exciting things on previous tech teams, and we've all joined together to make offering and using benefits feel effortless. In our daily work, we strive to uphold our values of ownership, relentlessness, inclusivity, simplicity, and authenticity. We’ve been recognized as a Best Place to Work in Austin, Texas, but we have teammates throughout the United States.

About This Role

This is a compliance leadership role with growth potential, reporting to the SVP, Head of Operations & Risk. In this role, you will immediately own benefits compliance in addition to supporting and possibly expanding to owning broader banking/consumer compliance, risk management, and anti-financial crimes.

You will work hard to find a way to “get to yes,” creatively finding ways of complying that are right-sized to the stage and size of our company. Embodying attention to detail, partnership and collaboration are critical to effectively fulfilling your roles in supporting product launches & improvements, resolving issues and building a culture of compliance. We’d really love you to have experience in consumer-driven healthcare. In a best case scenario, you can help with broader legal topics as well. Of course, this is a start-up so you may find other ways to pitch in as a leader at First Dollar!

You Will:

• Drive preparation of materials for committees overseeing operations and compliance
• Participate in the design and drafting of compliance policies and procedures, as needed
• Support the investigation of potentially unusual and/or fraudulent activity
• Conduct new client compliance assessments, including the identification and tracking of required federal and state compliance responsibilities
• Support all aspects of the compliance program, including-among other things-the design and operation of compliance policies and procedures, risk evaluations, testing, training, addressing violations, contract reviews and client reporting
• Be the subject matter expert on compliance with benefits processes, reporting, audits, and corresponding government regulations (ERISA, HIPAA, HSA, FSAs, etc.)
• Liaise with counsel, vendors, and other consulting resources as necessary to help ensure the company maintains an effective compliance program
• Conduct product risk analysis to assist in appropriate planning and development
• Develop and deliver external, client-based education training series and compliance material both independently and in collaboration with First Dollar staff
• Perform other duties as assigned
• Track, monitor, resolve, and respond to customer complaints
• Develop and communicate compliance requirements for new product and feature launches as well as new partner implementations
• Facilitate internal training to ensure company awareness and adherence to current health and welfare plan regulatory and compliance topics
• Monitor and evaluate the impact of regulatory developments on the company, including new rules, regulatory guidance, and best practices, and recommending and consulting on program adjustments

Requirements

You must have:

• A commitment to our First Dollar Values
• Excellent organizational skills regarding documentation and record-keeping
• A team mentality with excellent problem solving and communication skills
• 10+ years of total compliance experience
• Time management and prioritization skills
• Ability to identify, analyze and solve complex issues
• 2+ years in a Startup/early stage fintech, insurtech or healthtech
• Professional certification in benefits or related HR area
• 8+ years of compliance experience specific to any combination of: consumer driven healthcare, tax-advantaged healthcare accounts/arrangement or similar
• An ability to work well both independently and with various stakeholders; especially working with the product and customer success teams to build tools/processes to support delivery and maintenance of compliant products and processes
• High ethics and trustworthy production
• Commitment to a detailed-oriented and big picture mindset in a fast paced, growing environment

It’d be great if you have:

• A Juris Doctorate
• Ability to pitch in on legal documents like non-disclosure agreements, contracts and similar
• Leadership and/or management experience

Benefits

• Office: A beautiful, convenient, and state-of-the-art office in downtown Austin for those who prefer an office setting
• Remote Work Stipend: Each team member gets $500 to help cover expenses like co-working memberships, home office equipment, and coffee runs
• Compensation: Competitive salary and meaningful equity. We take a data-driven approach to our compensation strategy so all employees are paid competitively and equitably
• Tax-advantaged Vehicles: Tax-advantaged vehicles, including a 401(k) plan and a health savings account (HSA) for eligible medical plans. We also provide a generous contribution to the HSA
• Benefits: Excellent medical, dental, and vision insurance. We cover 100% of employee medical premiums and 50% of family member medical premiums for employees enrolled in the HDHP. Plus, all employees receive a free One Medical membership
• Work-Life Balance: Progressive policies to support work-life balance, like our flexible paid time off and parental leave program

Whenever possible, First Dollar wants to provide our team with the flexibility to work in the location that makes the most sense for them. For those that prefer an office setting, this role may be based in our Austin location with flexibility to work from the office/remote. If you prefer to work from your home, we can accommodate that for most positions and locations across the United States.