Regulatory Advisor - SOFIPO

albo

albo is a leading fintech company offering financial products to individuals and SMBs with the mission to bring financial freedom to everyone everywhere.

About the role

We are looking for a senior regulatory advisor with hands-on SOFIPO experience to partner with our leadership team in the launch of our SOFIPO operations. You will bring practical expertise in the SOFIPO regulatory framework and work closely with our Legal, Compliance, Risk, Internal Control and Accounting teams to set up the governance, processes and regulatory reporting needed to operate in full compliance from day one, while strengthening our capabilities for the long term.

What you’ll be doing at albo:

• Partner with the leadership team on SOFIPO regulation and operations from acquisition through full operation.
• Map the regulatory framework that applies to the SOFIPO and translate it into practical operating guidelines for business, product and operations teams: permitted operations, limits, restrictions and required approvals.
• Align albo's current operating model with SOFIPO requirements (governance, committees, policies and manuals, internal control, risk management, capital and liquidity, AML/CFT, IT and information security) and lead the implementation roadmap with the internal teams.
• Advise on the governance model for a management structure shared between the IFPE and the SOFIPO: which roles, committees and functions can be shared, which must be separate, and what independence or conflict-of-interest rules apply.
• Set up the regulatory calendar and work hands-on with the Accounting team on the SOFIPO's regulatory reporting to the CNBV: content, frequency, accounting criteria and submission process, including the first reporting cycles.
• Support the post-acquisition process with authorities: required notices, filings and authorizations, and preparation for meetings with CNBV supervisors.
• Review or draft the key policies and manuals required to start operations.
• Share best practices with the Legal, Compliance, Risk, Internal Control and Accounting teams, and support the onboarding of the VP of Operations and the team that will run the SOFIPO.
• Report progress, risks and decisions needed to the COO and the leadership team.

About you and what type of skills you'll need:

• Bachelor degree in Law, Accounting, Finance, Economics or a related field.
• 10+ years of experience in regulation, compliance or risk at financial entities supervised by the CNBV, including senior leadership or advisory roles.
• Hands-on experience operating, advising or supervising SOFIPOs or other popular savings and credit entities.
• Strongly preferred: direct participation in a SOFIPO acquisition or change of control, a SOFIPO authorization process, or the transition of an IFPE or other entity into a SOFIPO.
• Deep knowledge of the Ley de Ahorro y Crédito Popular and the CNBV general provisions applicable to SOFIPOs, including permitted operations by operating level, capital, liquidity and lending limits, and corporate governance requirements.
• Working knowledge of SOFIPO regulatory reporting to the CNBV and the applicable accounting criteria.
• Track record interacting with CNBV supervisors and other authorities (Banxico, CONDUSEF, UIF/SHCP).
• Knowledge of IFPE regulation under the Ley Fintech is a plus.
• Ability to turn regulation into practical operating rules and to teach non-specialist teams.
• No conflicts of interest with competing entities.
• Spanish native and professional English.

Originally posted on Himalayas