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Compliance Consultant Consumer/Student Lending

Careerbuilder-US

This is a Full-time position in Chicago, IL posted February 25, 2021.

Evaluate all Consumer Financial Protection Bureau regulatory requirements impacting Consumer Lending Products. This does not include Fair Lending, Privacy or UDAAP. This includes defining the inherent risked assessed by factoring impact & likelihood, providing a risk rating based on “4 by 4” approach, creating a control evaluation based on Corporate Risk Management standards/guidelines, determining the residual risk and performing an assessment of all consumer protection related regulatory requirements for each relevant department and process. 

Perform mapping processes to applicable “alphabet soup” regulations. Determine what controls need to be in place versus what controls are currently documented to control inherent risk. 

Project Tasks will be as follows:

  1. Define objective and scope of Compliance Risk Assessment
  2. Develop procedures and training materials for executing the Compliance Risk Assessment
  3. Execute the Compliance Risk Assessment
  4. Document the Enterprise Risk Assessment Program
  5. Leverage an Access database but help in the transition to their long term systems solution (Archer)

Duties and Activities:

  • Summarize all key risk indicators; define and maintain periodic monitoring and testing; create appropriate and timely reporting. 
  • Responsible for reporting and monitoring status of project.
  • Act as a liaison/coordinator between Risk Department and other corporate departments (Legal, Compliance and Risk) for gathering and analyzing information pertaining to project (policies, procedures, guidelines etc.).
  • Prepare formal and informal communications to internal business partners and direct management regarding initiatives, issues, and achievements.
  • Keep business aware of issues and activities related to compliance risk identification and control weaknesses. 
  • Assist in the embedding of compliance risk practices into the business strategy and operational activities of the business.
  • Promote a risk-aware culture, ensure efficient and effective risk and compliance management practices by adhering to required standards and processes.

Job Requirements:

Qualifications:

  • Bachelor’s Degree and 3-5 years of project consulting experience related in the financial services industry, with a focus on compliance risk and controls, understanding and review of loan operations, loan servicing and deposit operations.
  • Excellent communication skills, both written and verbal, and the ability to communicate to all levels of management.
  • Ability to multi-task and manage multiple projects with tight deadlines.
  • Strong project management skills and the ability to drive business processes to effective conclusion.
  • Strong individual contributor that can drive change in the risk mindset of business peers by education on risk and control related matters and driving and demonstrating value of various business initiatives.
  • Experience with conducting / overseeing or being involved in business audits.
  • Demonstrable ability to successfully interact with internal and external business partners.