Compliance Specialist
Our client, a well funded and growing financial services organization in Columbia, is hiring a Compliance Specialist to join their team. This role is responsible for auditing and evaluating compliance with applicable statutory and regulatory requirements for the corporation. It offers a competitive salary, excellent benefits, a hybrid work schedule and a great work environment.
Essential Functions
Review and analyze any new or changes to existing regulations to identify, assess, and communicate the impact on the Corporation’s business practices and procedures. Participate in the development of the overall implementation of action plans to address changes required by legislation, regulation, and policy.
Perform transaction and other testing necessary to assess compliance with regulation, statute or internal procedure.
Follow up on any noted deficiencies to ensure corrective action plans are properly implemented.
Assist with the development of the annual compliance risk assessment.
Assess projects, initiatives, or other process changes to identify regulatory requirements and concerns as well as general compliance risks.
Conduct compliance research on federal and state laws to enhance procedures, compliance training, and compliance reviews and to answer questions for staff, as needed.
Demonstrate a high level of ethical behavior in dealing with internal and external customers.
Escalate heightened compliance and risk matters (internal, external, govt. regulatory, etc.) to management.
Manage the third-party risk management program to ensure third-parties are reviewed in a timely fashion and in sufficient detail.
Develop and update policies and procedures related to the Corporation’s compliance and lending activities.
Manage the individual state requirements to maintain compliance with registration requirements for each state in which registration or licensing is required.
Investigate regulatory complaints, credit disputes, and claims of identity theft received from staff, the borrower, or a third-party and provide results to management.
Maintain a functional library of all documents of a regulatory nature, written or released by federal or state regulatory authorities, industry organizations, or any other applicable organization.
Prepare compliance updates and reports for the Corporation’s executive management, Audit Committee, and the Board of Directors.
Education and Experience
Bachelor’s degree in business related field preferred, a combination of education and experience will be considered.
Three to five years of experience in consumer lending compliance or audit of consumer lending activities is required.
Familiarity with consumer lending regulations such as the Truth in Lending Act (TILA), Equal Credit Opportunity Act, Military Lending Act, and other applicable regulations.
Knowledge of the student loan industry (Federal and Private loan programs), statutes, and regulations preferred.
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