Chief Compliance Officer- Bank

Chief Compliance Officer (CCO)

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) has a primary focus of protecting consumers. The Bank's Chief Compliance Officer is responsible for leading a culture of compliance at the Bank, and maintaining and strengthening the Bank's compliance management system. The CCO also works with Bank leadership to ensure the Bank adheres with all applicable consumer protection laws and regulations 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.

Responsibilities:

• 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), and Utah Department of Financial Institutions on consumer protection regulatory and compliance matters to clarify and interpret questions governing Nelnet Bank 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 Bank's 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

Annual compensation range for this role is $200,000 - $275,000 depending on experience.

This position offers a hybrid work option. Nelnet values flexibility and understands the importance of work-life integration. Our hybrid work environment allows…