Senior Manager, Compliance
Out-of-pocket healthcare costs are skyrocketing each year, forcing people across America to make difficult decisions about their health and money. We started Lively because we believe no one should have to sacrifice their personal health for their financial health. Lively makes it easier to manage rising costs through Health Savings Accounts (HSA) that allow people not only save on the costs of healthcare today, but plan for the costs of tomorrow.
Located in San Francisco, Lively is backed by the top institutional and individual investors including Costanoa Ventures, Y-Combinator, Ally Ventures, The Durant Company, SV Angel, Point Judith Capital, Streamlined Ventures, among others.
The Senior Manager of Compliance is responsible for defining and implementing Lively’s compliance standards and ensuring that those standards, as well as applicable laws and regulations, are met by all areas of the company. Specifically, the individual will develop, administer, and monitor programs for compliance with laws, regulations, and rules governing bank and nonbank custodian operations, products, and services including Health Savings Accounts (HSA) and Flexible Savings Accounts (FSA). Broad knowledge of fiduciary standards and principles, applicable law, and financial services and employee benefit products is required for this position.
- Responsible for the oversight of Lively’s fiduciary activities and related business operations to ensure adherence to fiduciary guidelines and requirements
- Develop, implement and monitor a risk-based compliance management program for the Lively Nonbank Custodian designation, including participation in product development to ensure compliance with disclosures; understanding of IRS regulations governing the Nonbank Custodian, including applicable prohibited transaction rules under the Code and applicable guidance; performing reviews to identify key risks and assisting management in developing corrective action plans
- Help facilitate the fiduciary oversight activities of the Board of Directors and serve as subject matter expert on HSA and FSA tax and ERISA reporting requirements
- Responsible for documentation assessment, collection, maintenance and record retention and the preparation of regulatory reports and the facilitation of required audits as an IRS approved non-bank custodian
- Provide consultative input on regulations and controls to internal team members (such as operations, engineering, legal, finance) and prepare written policies and procedures to ensure other departments are following applicable laws and regulations
- Monitor and assist where required to ensure contractual requirements of banking custodial partners are met
- Maintain the company’s Customer Identity Program
- Support Lively’s BSA/AML compliance program
- Report to and seek guidance from Head of Legal and, if needed, outside counsel, as appropriate
Skills & Experience
- Bachelor's degree required. JD and/or CPA preferred.
- 7+ years of regulatory compliance experience. HSA and banking background preferred.
- Minimum 5 years compliance experience required with working knowledge in several areas including but not limited to Section 125, FSA, HSA, ERISA, HIPAA, BSA, AML, GLBA and other employee benefit and financial services programs and regulations.
- Proficient in MS Office programs, including Outlook, Word, and Excel.
- Good organizational skills and commitment to quality and demonstrated ability to thrive in a fast-paced environment.
- Ability to successfully resolve external and internal compliance related inquiries in a timely fashion.
- Self-motivated, embraces change, follows through with commitments and maintains a positive attitude in challenging situations.
- Excellent oral and written communication skills.
We encourage you to apply if you do not meet all of the qualifications but feel you would be a good fit for the position.
Benefits & Perks
We offer competitive salaries, stock options, medical, dental, vision, life and disability coverage, HSA with employer contribution, flexible vacation, commuter benefits, a 401k plan, and more.
At Lively, we believe having diverse teams in which everyone can be their authentic self is key to our success. We encourage people from underrepresented backgrounds to apply. Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records. Come join us in our mission to help people optimize their healthcare spending, maximize their savings, and better their livelihood!