Chief Compliance Officer- Nelnet Bank

Nelnet • Full-time • Hybrid in Draper, Utah, United States • 1m ago

Fast Facts

Nelnet is seeking a Chief Compliance Officer to lead compliance management for its bank, ensuring adherence to consumer protection laws and fostering operational readiness for a start-up environment.

Responsibilities: Key responsibilities include managing compliance programs, overseeing training, evaluating emerging compliance issues, and providing reports to executive management and the Board on compliance matters.

Skills: Candidates must possess strong leadership, communication, and analytical skills, along with a thorough understanding of consumer lending regulations and compliance best practices.

Qualifications: Preferred applicants should hold a Bachelor’s or Master’s degree in Business, Political Science, or Law, with over 10 years of relevant experience and regulatory compliance certifications.

Location: This position is located onsite in Draper, Utah.

Compensation: Not provided by employer. Typical compensation ranges for this position are between $150,000 - $225,000.

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 Chief Compliance Officer (“CCO”) is a consumer advocate with the primary focus of protecting the end consumer and customer. The CCO will ensure the development and maintenance of a strong compliance management program through strict adherence with applicable consumer protection laws, regulations, Congressional directives 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. This position will be particularly focused on the unique facets of a start-up bank including the bank readiness exam and related regulatory interactions, operational preparation and execution and other de novo implications such as policy and procedural development/review and training.

- 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), Utah Department of Financial Institutions and U.S. Department of Education (USDE) on consumer protection regulatory and compliance matters to clarify and interpret questions governing Nelnet 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 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

Note: This role is located onsite in our Draper, Utah location

EDUCATION: Bachelor’s or Master’s degree required. Preferred fields of study: Business, Political Science, or Law Juris Doctor preferred

EXPERIENCE: - 10+ years in business, risk management, regulatory relations, compliance, or project management

- 10+ years leading, developing, and managing professional teams

- Certified Regulatory Compliance Manager required. Additional certifications a plus

- 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

COMPETENCIES – SKILLS/KNOWLEDGE/ABILITIES:

- 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.

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. Click here to learn more about our benefits: LINK.

Nelnet is committed to providing a welcoming and respectful workplace where all associates have the opportunity to succeed. As an Equal Opportunity Employer, we ensure that all qualified applicants are considered for employment. Employment decisions are made without regard to race, color, religion/creed, national origin, gender, sex, marital status, age, disability, use of a guide dog or service animal, sexual orientation, military/veteran status, or any other status protected by federal, state, or local law. We value the unique contributions of every team member and believe that a positive work environment benefits everyone.

Qualified individuals with disabilities who require reasonable accommodations in order to apply or compete for positions at Nelnet may request such accommodations by contacting Corporate Recruiting at 402-486-5725 orcorporaterecruiting@nelnet.net.

Nelnet is a Drug Free and Tobacco Free Workplace.