Compliance Manager Private Education

FINWISE BANK•Murray, UT

1d•Onsite

About The Position

The Compliance Manager reports to the VP of Compliance Management and is responsible for the oversight and execution of compliance management activities for assigned business lines, including Strategic Partners (“SPs”). This role supports the Bank’s Compliance Management System (“CMS”) through the development, implementation, and maintenance of effective compliance policies, procedures, and controls. A key component of this role is ensuring full compliance with federal requirements governing Private Education Loans, including specialized disclosure, operational, and program specific regulatory obligations. The Compliance Manager will proactively identify and mitigate compliance risks across all assigned programs, with a particular focus on Private Education Loan products offered through the Bank and its SPs.

Requirements

Knowledge of Federal Regulations and how regulations apply to bank programs; including: UDAAP, ECOA/Fair Lending, TILA, TISA, FCRA/FACTA, Privacy (GLBA/RFPA), SCRA, MLA, ESIGN, FDCPA, TCPA, CAN SPAM, EFTA, EFAA, and other deposit regulations and lending laws and regulations.
Knowledge and/or experience with federal regulatory requirements for Private Education Loans, including compliance covering special disclosure standards and operational limitations for private education lending.
Demonstrated knowledge and hands on experience with federal Private Education Loan requirements, including: Special disclosure standards (e.g., Application/Solicitation Disclosure, Approval Disclosure, Final Disclosure); Right to cancel requirements; Self certification processes; Timing, content, and delivery requirements under Regulation Z §§1026.46 48; Marketing and communication limitations; Operational controls and systems needed to support compliant PEL workflows.
Experience working with auditors and regulators (i.e., FDIC, UDFI)
Ability to analyze, manage and resolve complex issues with attention to detail.
Must have good people management and interpersonal skills, including the ability to work well in a team or individually.
Knowledge and understanding of the CMA framework.
Skill to identify, correct and resolve banking regulatory and fraud issues.
Ability to read, analyze and interpret professional journals, technical procedures, governmental regulations, and legal documents.
Assertive self starter, with exceptional verbal and written skills, organized and able to work independently.
Must be able to appropriately prioritize time, manage multiple tasks and work effectively under tight deadlines.
Demonstrates high integrity and excellent judgment.
Bachelor’s degree in Business Administration, Finance, or related field; or equivalent related experience.
Three or more years of consumer compliance experience working in a bank or other financial institution.

Nice To Haves

Bachelor’s degree in Business Administration, Finance, or related field; or equivalent related experience.
Three or more years of consumer compliance experience in a bank or financial institution, including direct experience managing or supporting compliance for Private Education Loan programs.
Certified Regulatory Compliance Manager (CRCM) is preferred.

Responsibilities

Provides regulatory risk advice to managers in response to questions in an easy to understand manner, including interpretation of regulations applicable to Private Education Loans and their unique compliance risks.
Performs risk assessments to determine current risk levels and risks associated with the Bank’s products and services, lines of business and SPs, considering additional factors.
Review and approve marketing materials and customer facing correspondence, ensuring all content aligns with federal and state consumer protection regulations including special disclosure and timing standards required for Private Education Loans.
Oversees compliance training completion reports of Bank and/or SP employees.
Validates SP annual compliance training program ensuring it is comprehensive, relevant, and appropriately covers applicable laws and regulations.
Assists business lines and SPs in developing or revising policies and procedures to reflect current regulatory requirements and Bank’s expectations with particular focus on Private Education Loans related processes such as application, approval, certification, disbursement, and borrower communications.
Reviews, analyzes, and reports to management regarding complaints, disputes, fraud, and other reporting metrics available through the assigned business lines of Loan Programs to detect potential compliance concerns.
Maintains a comprehensive understanding of the assigned business lines, including Loan Programs, SPs, CMS, and operating environments.
Reviews and effectively communicates program changes to management and the Board of Directors.
Completes annual regulatory compliance training assignments by their respective due dates.
Response to customers regarding written disputes and/or complaints in a timely manner.
Prepares accurate monthly reporting metrics for the Board, as well as Audit and Compliance Committee packets on time.
Stays informed on the regulatory environment and emerging industry trends, regulatory changes, and other relevant laws and statutes.
Attends and participates in off site training events and SP site visits as assigned.
Facilitates compliance vendor management and due diligence oversight, including vendor contract review, SP corporate governance and vendor onboarding process oversight, vendor compliance risk assessment, regulatory applicability assessment, in alignment with the Bank’s CMS.
Conducts due diligence.
Makes recommendations pertaining to the on boarding of new Loan Programs and SPs; including the review and alignment policies, procedures, internal controls, and other due diligence activities as though those activities are overseen within the Bank.