Compliance Monitoring Manager- Nelnet Bank

Nelnet Servicing • Draper, UT

2d • $100,000 - $130,000

About The Position

Nelnet is a diversified and innovative company committed to enriching lives through the power of service as a student loan servicer, professional services company, consumer loan originator and servicer, payments processor, renewable energy solutions, and K-12 and higher education expert. For over 40 years, Nelnet has been serving its customers, associates, and communities. The perks of working at Nelnet go beyond our benefits package. When you join the Nelnet team, you're part of a community invested in the success of each individual. That support comes through in our work, as we are united by our mission of creating opportunities for people where they live, learn, and work. The Compliance Monitoring Manager is responsible for execution of compliance testing and monitoring programs. This is a key second line of defense role and is responsible for developing an effective compliance risk assessment, executing on compliance testing, evaluation, and monitoring processes and ensuring the effectiveness of internal controls used to comply with applicable regulatory, contractual, and business requirements for the Bank’s products and services. The role is also responsible for effectively communicating the compliance methodology and results to Nelnet associates, management, clients, regulators, and auditors. As part of the second line of defense, the Compliance Monitoring Manager is a key member of the team which ensures compliance with all applicable federal and state laws, contractual requirements, and the company’s policies and procedures.

Requirements

• 5+ years in audit, compliance, banking, risk management, or governance related field.
• Direct involvement with regulatory examinations (CFPB, FDIC, OCC, etc.) required
• Thorough knowledge of compliance issues, laws and regulations relating to loan origination and servicing, such as Unfair, Deceptive, Abusive Acts or Practices (UDAAP) standards; Truth in Lending Act; Equal Credit Opportunity Act; Fair Credit Reporting Act, and student lending
• In-depth experience with development and testing of compliance programs
• Ability to work independently on multiple issues concurrently and to exercise independent judgment in establishing priorities
• Ability to succeed in a fast pace, heavy workload, environment
• Ability to communicate complex concepts
• Excellent oral, written, negotiation and presentation skills with executive level management
• Ability to adapt to highly diversified and changing environment

Nice To Haves

• Bachelor’s Degree in related field preferred.
• Certified Regulatory Compliance Manager (CRCM) or related certification preferred

Responsibilities

• Develops, coordinates, and oversees execution of the Bank’s compliance risk assessment and compliance testing and monitoring programs
• Performs targeted testing for consumer compliance and banking requirements, as well as Bank policies and procedures, by evaluating processes and controls in accordance with established timelines and compliance testing guidelines
• Employs technical expertise to resolve complex compliance related issues
• Monitors and validates the results and methodologies of the first line compliance testing teams
• Identifies control deficiencies, evaluates risk implications, and draws the appropriate conclusions to best communicate with operational areas and management
• Validates control weaknesses identified through quality checks, compliance testing, reviews, and examinations are tracked, properly evaluated, prioritized based on risk, responded to, and closed
• Ensures compliance risks related to new systems, processes, products, and services are identified, assessed and proactively reviewed or tested when appropriate
• Provides guidance to operational areas and management on requirements of applicable laws and regulations
• Communicates opportunities and areas of improvement for compliance and/or operational activities such as enhancements to policies/procedures, processes, training or technology
• Aggregates and monitors compliance testing and quality control results for trends, and escalates moderate to high risk concerns to the appropriate levels of leadership
• Coordinates with the Bank Compliance team and the Corporate Compliance team to analyze industry news, including consent orders, civil investigations, lawsuits, etc., and ensures proper review is provided to protect our customers and the company
• Obtains and maintains appropriate professional certifications and continually expands knowledge of industry related regulatory requirements, contract requirements, and compliance, risk management, and monitoring best practices

Benefits

• Our benefits package includes medical, dental, vision, HSA and FSA, generous earned time off, 401K/student loan repayment, life insurance & AD&D insurance, employee assistance program, employee stock purchase program, tuition reimbursement, performance-based incentive pay, short- and long-term disability, and a robust wellness program.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 1,001-5,000 employees