23 Mar
Regulatory Compliance Manager
Vacancy expired!
- The ideal candidate must possess a thorough understanding of the student loan servicing industry and the legal and regulatory environment applicable to the Company. The applicant must display the ability to work independently, performing duties objectively and have a proven ability to communicate effectively. The successful candidate must be prepared to fully engage in managing the Company's regulatory change management program for student loan servicing and evidence the effectiveness of changes made in compliance with various state student loan servicing laws.
- Personally, the individual will be an intelligent, quick learner with an analytical orientation and possesses ability to efficiently articulate a vision of the Company and the industry both internally and externally. This person will be flexible in his/her style and approach, take constructive criticism well, and be adaptable to rapidly changing requirements
- Review and maintain best knowledge of applicable government regulations as well as contractual terms with clients.
- Develop and prepare reports by collecting, analyzing, and summarizing data related to risk analysis, compliance reviews, monitoring, and remediation efforts.
- Make continuous process improvements; provide recommendations for improving internal policies and processes and controls.
- Develop and implement tools to efficiently manage risk management and compliance activities.
- Collaborate with Management and Compliance to determine appropriate strategy and approaches to remediate risks and control weaknesses, implement monitoring activities.
- Work with government agencies, external examiners and Audit Services during compliance and audit engagements.
- Complete operational and/or compliance risk assessments, create review scope, test controls, identify and remediate weaknesses and implement monitoring activities to ensure compliance with consumer protection laws, regulations, corporate policies, and business line standards, procedures and guidelines.
- Develop monitoring tools and conduct periodic reviews to measure the effectiveness of compliance protocols and identify exceptions and improvement opportunities, including updating the Company's existing controls, develop new controls as necessary.
- Review Compliance Audit results (from the internal Compliance Audit Program) for non-compliance; investigate the cause and take action, such as further training or revision of policies.
- Maintain records of compliance activities, including any complaints or investigations.
- Provide assistance to internal or external auditors in compliance reviews.
- Maintain knowledge, understanding, compliance, and enforcement of all applicable federal, state, and local laws and regulations relating to job duties, including but not limited to:
- Regulatory Updates (including but not limited to: CFPB, TCPA, FCRA, GLBA, SCRA, BSA/AML/OFAC, EFTA, ECOA, UDAAP, FCBA, FERPA, E-Sign, data security, financial processes, student loan servicing, contractual obligations/client requirements, and regulatory bulletins)
- Case Law Updates
- Consent Orders and Agreements
- Anticipatory Changes and Best Practices
- Keep informed regarding pending industry changes, trends, and best practices and assess the potential impact of these changes on organizational processes; add or update controls and testing as necessary.
- Perform root cause analysis of compliance exceptions and suggest corrective actions; add or update controls and testing as necessary.
- Policies: identify areas of the business where there is a risk of non-compliance and assist with developing policies to reduce that risk; assist with mapping requirements to regulations and drafting and approval process as needed.
- Regulatory Training: assist with preparing training content, and verification of new content addition to Company training materials.
- Collaborate with employees and managers across functional areas of the business to understand current business practices and identify and report on noted areas of risk.
- Ensure line of business awareness of Compliance requirements through communicating standards during formal and informal communications.
- Accountable for all decisions, actions, and directives with respect to job responsibilities.
- Follow up in a timely manner to ensure Client satisfaction.
- Perform other duties as assigned by management.
- Bachelor's Degree or comparable experience
- Minimum of 3-5 years proven audit, compliance, financial services operations and/or regulatory experience or equivalent with student loan servicing
- Certification preferred (i.e., Certified Regulatory Compliance Manager) in regulatory compliance or similar discipline
- 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
- Telephone Consumer Protection Act
- Family Education Rights and Privacy Act
- Servicemembers Civil Relief Act and Military Lending Act
- Various state student loan servicing regulations
- Proven experience in an analytical or research position or related experience
- Extensive experience with MS Word, PowerPoint, Excel and MS SharePoint.
- Strong quantitative, analytical, problem-solving, and written and verbal communication skills
- Ability to self-start, prioritize and manage multiple projects simultaneously
- Ability to read and understand complex documents legal and technical
- Ability to maintain the highest level of confidentiality
- Ability to define problems, collect data, establish facts, and draw valid conclusions, to prioritize and work in a multi-tasked environment
- Desire to work independently, including independently identifying, analyzing, and resolving issues
- Work from Home Professional Environment or Office Environment
- Potential for Occasional Travel
- Ability to lift and/or move 20 pounds with or without accommodation
- Medical and dental insurance
- Bi-weekly payroll
- 401k plan
- Successful re-marketing program
- Referral program with the opportunity to earn additional income
Vacancy expired!