Chief Compliance Officer- Nelnet Bank

About the role

The Chief Compliance Officer (CCO) at Nelnet is responsible for leading a culture of compliance at the Bank, maintaining and strengthening the Bank's compliance management system, and ensuring adherence to consumer protection laws and regulations.

Responsibilities

• 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.
• Provide the means to communicate compliance and regulatory changes, oversee compliance training for all associates and board members, and administer Corporate Policies.
• Periodically update executive management, management committees and the Board Compliance and Risk Committee on compliance and regulatory matters.
• 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).
• 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.
• Work directly with the Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), and Utah Department of Financial Institutions on consumer protection regulatory and compliance matters.
• Coordinate and collaborate with Legal, Risk Management and Internal Audit to evaluate possible compliance issues or inquiries.
• Prepare, monitor, and oversee the budget in accordance with established formats and guidelines.
• 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.

Qualifications

• Bachelor’s or Master’s degree required. Preferred fields of study: Business, Political Science, or Law. Juris Doctor preferred.
• 10+ years in business, risk management, regulatory relations, compliance, or project management.
• 10+ years leading, developing, and managing professional teams.
• Certified Regulatory Compliance Manager preferred. 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.

Skills

• 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.

Benefits

Nelnet offers a comprehensive benefits package including 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. Learn more about our benefits: LINK.