Commercial Compliance Lead

Volkswagen   •  

Herndon, VA

Industry: Automotive


8 - 10 years

Posted 34 days ago

Commercial Compliance Lead, salary grade 9, reports to George Ostyn and is located in Herndon, VA.

Role Summary:

Supporting the Office of General Counsel / Regulatory Compliance Team, the Commercial Compliance Officer will:

  1. Lead VCI's Internal Compliance efforts with respect to (1) treasury/structured finance, (2) ancillary & insurance products, (3) commercial lending, and (4) mergers & acquisitions related activities.

  1. In furtherance of the company's treasury/structured finance activities, this individual will play a pivotal role in the drafting and implementation of policies, procedures and other internal controls, and monitoring for compliance with such policies, procedures and controls by the employees, officers and directors of the company when accessing the capital markets through private and public financing vehicles.

  1. In furtherance of the company's ancillary and insurance business as carried out through its affiliated group of insurance subsidiaries, (collectively, the "VWFS Protection Services entities"), this individual will play a critical role in monitoring compliance with 50 state licensing requirements, form filings, and oversight of a third party vendor. Additionally, this individual will take on the official role of Compliance Officer for each of the three VWFS Protection Services entities, and serve as one of the Assistant Secretaries to such entities.

  1. In furtherance of the company's commercial lending activities, this individual will play a pivotal role in drafting and implementing due diligence based policies and procedures, and monitoring for compliance ensuring that the company's commercial lending efforts comply with applicable regulatory requirements including OFAC and ECOA.

In furtherance of the company's mergers & acquisitions efforts, this individual will lead and manage the coordination of VCI's local M&A efforts in collaboration with group strategies employed by VW Financial Services AG's M&A team; this individual will manage and report on the company's use of venture capital and related investment activities. The role will drive VCI's strategic efforts in the investment in, or acquisition of, key target companies, with an emphasis on early to mid-stage technology companies (generally, series A or B and later investment rounds) with business models perceived as advantageous to the VW Group's mobility strategy. Individual investments are likely to range ($10,000,000 - $100,000,000+/deal). This role will interface and lead the collaboration efforts with Group affiliates from FSAG, VWAG, and Audi AG, in furtherance of the Group's strategic 'Key to Mobility' & Digitalization efforts. The role will also act as the key point of coordination with the respective M&A Teams from FSAG, VWAG and AUDI AG, in order to implement strategic takeovers, acquisitions and investment activity.

Role Responsibilities:

  • Lead VCI's Structured Finance Legal Compliance program assisting on matters governed by the SEC (Reg. AB) supporting Treasury; collaborate with Issuer's Counsel, Treasury and Structured Finance to facilitate VCI's internal legal review of Public & Private ABS transaction closings as well as the ongoing monitoring of VCI ABS Reps & Warranties. Formulate and maintain (via NAVEX) VCI Legal Dept. Public ABS General Procedural documents that governs (1) VCI Legal review of Relevant ABS documents, (2) VCI documentation of the "Negative Assurance" process, (3) VCI documentation of all Legal Due Diligence including responses to Underwriter Counsel Legal Questions, (4) confirmation of ABS Representations and Warranties endorsed by Treasury Dept. (4) execution of VCI General Counsel opinion and (5) the storage of all ABS documentation and correspondence (supporting potential "Due Diligence Defense"); manage Legal Relationship with Issuer's Counsel (outside counsel) including the formal engagement letter, negotiation and monitoring of all associated legal costs charged to VCI.. –25%
  • As Chief Compliance Manager, lead VCI's Protection Services Compliance program including: Collaborate with Protection Services team, outside counsel, and facing VCI counterparts toproactively review regulatory changes, internal documents and controls. Review and amend existing policies / procedures to ensure UDAAP (unfair, deceptive, or abusive acts or practices),compliance and ensure overall product transparency for consumers. Review General Procedure documents governing the above (via NAVEX). Ensure Board of Directors, management andemployees are in compliance with the rules and regulations of regulatory agencies and that company policies and procedures meet VCI's Integrity standards. Act as Assistant Secretary to VWFS Protection Services, Inc., Serve as active member of the VCI/VWFS PS Ancillary Product Working Group- 30%
  • Establish and oversee VCI's Commercial Credit Compliance program with regard to Commercial Wholesale Lending (Libertyville Team). Review and maintain follow-up on Commercial Lending requirements including all ongoing regulatory requirements for (1) OFAC, (2) FCRA (adverse action), (3) ECOA/Reg. B as well as any other federal and state laws (as applicable). Collaborate with Commercial Credit team to formulate and maintain VCI General Policy / Procedural documents governing the above (via NAVEX) and ensure yearly review and corporate compliance. - 20%
  • Serve as the Business Owner for the M&A function; responsible budgeting, forecasting and securing corporate VC funding necessary to efficiently execute the investment function of VC Investment Vehicles. Lead VCI's collaboration and coordination efforts with key FS AG stakeholders and other VW Group stakeholders (primary interface with the respective M&A Teams of VWAG Group partners). Lead VCI's corporate and financial due diligence efforts of companies targeted for strategic acquisition and/or equity investment on behalf of VCI in pursuit of strategic objectives. Oversee the performance of outside service providers (Financial/Accounting) in the on-site due diligence of potential Target Acquisitions companies; will assess and summarize the results of such due diligence. Maintain follow-up on performance of VCI investments and provide periodic updates to VCI management. Will serve as the corporate Secretary to VCI's Venture Capital Investment Vehicle (LLCs and Series LLC); maintain corporate books and records, ensuring minimum statutory procedural requirements and formalities are followed and respected; maintain Board Minutes and Books. Formally present findings and investment recommendations to VCI Board and other key Group stakeholders; preparing Executive Summaries and Board Presentations for VCI Leadership and Board.– 25%

Experience (Required):

  • 7-10 years of combined experience in accounting, treasury, commercial lending, insurance, finance, regulatory compliance, financial due diligence, licensing, budgeting, and oversight of third party service providers.


Required –

  • Bachelor's Degree in Business Administration in either Finance or Accounting

Desired –

  • Advanced Degree, MBA or JD
  • Paralegal Certification

General Skills:

  • Possess excellent communication skills (both verbal and written)
  • Strong Business / Financial Acumen
  • High business proficiency in the use of Microsoft Word, Excel and PowerPoint with the ability to effectively summarize and communicate complex financial information into executive summary formats
  • Able to work independently with a high degree of autonomy
  • Highly organized with the ability to manage several projects simultaneously

Specialized Skills:


  • Proficiency in Financial/Accounting disciplines
  • Strong understanding of corporate legal structures and governance formalities
  • Experience with Federal & State regulatory compliance within commercial lending, wholesale lines of credit, mortgage/construction financing
  • Experience with Public and Private Asset Based Securities.


  • Experience in M&A related disciplines
  • Working knowledge of Commercial Lending
  • Working knowledge of Ancillary & Insurance Products in the Automotive space
  • Working knowledge of Indirect Lending Model
  • Working knowledge of Mergers & Acquisitions, venture capital, equity investments, tax related considerations, corporate governance structures, LLCs, financial and legal due

Work Flexibility:

  • Up to 25% travel; no physical requirements