Chief Compliance Officer- Nelnet Bank

Nelnet Servicing•Draper, UT

4d•Hybrid

About The Position

The Chief Compliance Officer (CCO) has a primary focus of protecting consumers. The Bank’s Chief Compliance Officer is responsible for leading a culture of compliance at the Bank, and maintaining and strengthening the Bank’s compliance management system. The CCO also works with Bank leadership to ensure the Bank adheres with all applicable consumer protection laws and regulations and best practices that govern the Company and its products and services. The CCO will ensure consumer requests, CFPB Complaint Portal postings, and other borrower/consumer complaint/inquiry issues are properly managed and appropriate actions are taken to correct identified concerns. This position will provide the means to communicate compliance and regulatory changes, oversee compliance training for all associates and board members, and administer Corporate Policies. The CCO will periodically update executive management, management committees and the Board Compliance and Risk Committee on compliance and regulatory matters.

Requirements

10+ years in business, risk management, regulatory relations, compliance, or project management
10+ years leading, developing, and managing professional teams
Experience in evaluating, interpreting, and communicating laws and regulations
Working knowledge of consumer lending regulations, including but not limited to: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, Unfair, Deceptive or Abusive Acts or Practices Act, Truth-In-Lending Act, Fair Credit Reporting Act, Fair Debt Collection Practices Act, Equal Credit Opportunity Act, Gramm-Leach-Bliley Act, E-Sign Act, Electronic Funds Transfer Act
Proven leadership, relationship, and personnel development skills.
Excellent written and oral communication skills.
Strong interpersonal, diplomatic, judgment, time management, and presentation skills.
Ability to hire, retain, and lead a dynamic and independent team.
Excellent strategic planning and analytical skills.
Ability to prioritize and delegate projects.
Reliable, dedicated and high level of integrity.

Nice To Haves

Certified Regulatory Compliance Manager preferred.
Additional certifications a plus
Juris Doctor preferred

Responsibilities

Maintain extensive knowledge and understanding of consumer protection laws, regulations, Congressional directives and industry best practices
Understand business segment and operation products and services and keep abreast of changes (new products, services or business practices)
Provide recurring reports of compliance risks, issues and resolutions to executive management, management committees and a committee of the Board
Develop and manage bank policies and procedures and ensure compliance with consumer protection laws and regulations
Train the Board, management and employees in consumer protection laws and regulations
Evaluate emerging compliance issues or potential liabilities
Evaluate consumer complaints or business practices for trends that require corrective actions
Provide a vision, leadership and direction for the Bank’s compliance management program. Ensure adequate staffing and resources are available to complete the bank’s compliance requirements. Provide input and feedback to the performance management process of those compliance professionals who service the bank.
Provide policies and guidance related to consumer regulations and requirements
Maintain current knowledge of regulatory changes, trends within the industry, and regulator expectations
Manage, develop and support the compliance training function and staff, and coordinate compliance training within the company
Support the Company’s strategy by ensuring the compliance of regulatory initiatives that include new policies, product development and marketing materials
Assist all functional departments in achieving strategic goals by providing regulatory counsel
Work directly with the Consumer Financial Protection Bureau (CFPB) as requested, Federal Deposit Insurance Corporation (FDIC), and Utah Department of Financial Institutions on consumer protection regulatory and compliance matters to clarify and interpret questions governing Nelnet Bank practices, including coordination of a response to compliance program and other regulatory reviews and inquires
Coordinate and collaborate with Legal, Risk Management and Internal Audit to evaluate possible compliance issues or inquiries.
Assist the Bank’s Chief Risk Officer in developing the annual compliance work plan that reflects the company’s highest risks that will be monitored by the compliance function as determined through risk assessments using an enterprise wide approach
Provide guidance and responses as part of the Risk and Compliance Communication Committee
Prepare, monitor, and oversee the budget in accordance with established formats and guidelines
Monitor customer surveys, correspondence and complaints, as well as, assessment, review and audit results for areas that require additional training and oversight
Maintain easy to use processes for associates to ask questions and receive answers related to the interpretation of regulations or policies
Escalate compliance concerns to the appropriate level of management based on potential risk exposure