Sr. Director Chief Risk and Compliance

About the role

The Senior Director, Chief Risk & Compliance Officer (CRCO), is responsible for leading and overseeing Midland Credit Management’s regulatory compliance and risk management programs. This executive role ensures compliance with applicable consumer protection laws governing the company’s core business, as well as emerging regulatory requirements associated with expansion into new or adjacent lines of business.

Responsibilities

• Develop and manage the Midland Credit Management Compliance Management System (CMS) program to ensure effective governance, monitoring and continuous improvement of compliance activities.
• Establish and maintain company-wide standards, policies, and procedures.
• Develop appropriate training, education, and awareness programs.
• Oversee design and maintenance of compliance testing program including partnering with the business on remediation and report results to senior management and the Board of Directors.
• Maintain Chief Compliance Officer certification and debt buyer certification with Receivables Management Association International (RMAi) and oversee the company’s compliance with RMAi certification standards.
• Develop and maintain enterprise-wide risk management program aligned with Encore Capital Group and its subsidiaries.
• Advise business and functional leadership on how to consider and manage risk while planning business strategy and operations.
• Serve as a strategic partner with business and support functions to identify and controls risks including legal and regulatory associated with business strategy, projects, and operations. Advise business on design and establishment of First Line of Defense program to ensure business and functional areas are establishing appropriate oversight of operations and activities including monitoring and reporting to senior management.
• Coordinate examination of compliance programs with external authorities (e.g. CFPB, State and Federal agencies).
• Develop enterprise-wide compliance issue and risk incident tracking and aggregation processes. Advise business on management and remediation of compliance issues and risk incidents. Track issues and perform related reporting including appropriate senior-level escalation.
• Leverage corporate resources within the Legal and Corporate Government Affairs team to monitor regulatory change. Partner with businesses to drive implementation of new or changed laws and regulations.
• Perform other duties, as assigned. Manage direct reports (reporting to the role).

Requirements

• Educational background: Bachelor's degree in Business, Law, or Finance.
• Experience: 10+ years of experience developing compliance programs and frameworks in multiple areas including FDCPA, FCRA, SCRA, GLB, ECOA, EFTA and Data Security and Privacy, particularly as applied to debt servicing and collections.
• Knowledge: In-depth knowledge of compliance and risk management principles and tools, regulatory knowledge of laws and regulations of this industry, Deep understanding of the debt collection industry and business operations, Strong analytical and operational skills to include the ability to assess complex data, identify patterns, and make informed decisions.
• Skills: Excellent relationship-building and communication skills including engagement with regulators.
• Other qualifications: CRCM (Certified Regulatory Compliance Manager), RMAi (Receivables Management Association International), and CCO (Chief Compliance Officer) certification.

Qualifications

• Educational background: Master's or Advanced degree.
• Knowledge, skills, abilities, and other attributes: Excellent written and verbal skills to convey risk and compliance information clearly to all stakeholders, from employees to the board of directors and regulatory bodies. Capacity to identify problems and develop effective solutions to mitigate risks and ensure compliance. Proficiency in managing projects related to implementing risk and compliance programs. Ability to positively influence outside entities, including regulators. Demonstrated ability to work within a matrix organization and managing teams across multiple geographies.

Skills

• Excellent written and verbal skills to convey risk and compliance information clearly to all stakeholders, from employees to the board of directors and regulatory bodies.
• Capacity to identify problems and develop effective solutions to mitigate risks and ensure compliance.
• Proficiency in managing projects related to implementing risk and compliance programs.
• Ability to positively influence outside entities, including regulators.
• Demonstrated ability to work within a matrix organization and managing teams across multiple geographies.

Benefits

Starting Compensation: Annual Salary: $201,400.00 - $261,600.00 (Amount based on office location, relevant experience, skills, and competencies)

Pay and Bonuses: Earn a competitive salary. All employees are eligible for monthly incentives or annual bonus.

Career Progression: Grow at MCM with paid training and development programs – including our very own MCM Academy – as well as a promote-from-within philosophy.

Reward and Recognition: We are committed to honoring great results – ranging from informal accolades to formal company-wide awards and prizes like all-inclusive vacations.

Tuition Assistance: Pursue a degree or coursework related to your current role, or the role you are striving for.

Healthcare Insurance: Take advantage of comprehensive healthcare plans and options to ensure your continued health, plus fitness membership reimbursements, weight watchers, our wellness rewards Program and more.

Volunteering Opportunities: Enjoy up to eight hours of paid time off each year to volunteer. We also offer volunteer grants and matching financial donations, up to US$ 2,500 per employee annually.

Retirement Savings: Build a strong financial foundation and reach your goals for the future. With all the effort you invest in us, we’re proud to invest in you.

New Family Support: Celebrate your new arrival with company paid leave, new parent flex time, and child back-up care options.

Team-building: Enjoy experiences that inspire bonds with your colleagues through a wide range of company-sponsored team-building events, such as holiday celebrations and department outings.

Work-Life Balance: Enjoy paid and floating holidays, as well as generous paid-time-off.