• Compliance Associate

    Job Locations US-TX-Frisco
    ID 2019-1057
    Category
    Legal
    Type
    Regular Full-Time
  • Overview

    Meritize is an education lender that uses an individual’s academic history, military background, and work experience to enhance credit evaluation and expand funding for skills-based education. The company’s proprietary merit-based lending program goes beyond traditional underwriting to leverage individual academic and experiential data, resulting in increased access to educational funding and improved outcomes. The Meritize platform promotes the growth and development of skills-based careers on behalf of students, educators and employers through innovative funding solutions, skills building programs and technology-enabled career services.

    Responsibilities

    The Compliance Associate will report to the Chief Compliance Officer- Senior Counsel (“CCOSC”).  This position will have the following primary areas of responsibility: 1) to assist the CCOSC in the overall management of the Meritize Compliance Management System (“CMS”), including, but not limited to, tracking of customer complaint(s) and corrective action(s), 2) review and issuance of compliance review reports; 3) assisting in the oversight of regulatory and licensing examinations/activities; 4) development of policies and procedures; and 5) other projects and tasks as needed.

     

    At the direction of the CCOSC, the Compliance Associate is also responsible for maintaining existing Meritize licenses (including, but not limited to, Lending, Business and Servicing related licensure), obtaining new licenses necessary to conduct business and provide Meritize business units with guidance in determining license requirements for new business activities.  This includes the collection of any and all requested files, preparation of documentation, review of exam results, drafting responses to reports of examination, and assisting in the implementation and completion of examination remediation. The Compliance Associate will also manage filing of license applications, annual reports, renewals. surety bonds and insurance certificates.

     

    Essential Job Function (s):

    • Assist in the administration of the Meritize CMS, including, but not limited to, tracking of customer complaint(s) and corrective action(s), development of policies and procedures, creation of compliance training and testing and monitoring activities.  
    • Assist in management of regulatory and license examinations, including obtaining and preparing information for examiner’s review.
    • Review examination reports notify management of findings, and work with management to implement any required remediation.
    • Obtain and timely renew all licenses needed for Meritize to do business in all applicable states and U.S. territories; and ensure all amendments, forms and officer and director changes are timely filed.
    • Maintain all certificates of authority and fictitious/alternate business name registrations as needed for Meritize and its subsidiaries to do business in all applicable jurisdictions.
    • File annual and periodic reports with the appropriate licensing agency.
    • Manage registered agent and other third-party vendors used for licensing purposes.
    • Maintain and renew insurance policies required for licensing.
    • Manage licensing database, licensing calendar and examination tracking system. Forecast and prepare the annual licensing budget.
    • Implement and manage licensing policies and procedures that properly document current processes.
    • Ensure appropriate and timely complaint responses to regulatory agencies and others.
    • Coordinate with business line(s) on complaint responses.
    • Perform document review related to customer complaints.
    • Based on complaint findings, provide recommendations to business line(s) regarding program improvements and/or enhancements.
    • Handle follow-up issues in a concise and timely manner.
    • Review, organize and maintain documentation and files related to customer complaints.
    • Collaborate with the CCOSC when needed to identify any potential concerns or possible violations of consumer protection laws.
    • Assist the CCOSC with the review and issuance of compliance review reports and issue summaries, and other projects as needed.
    • Monitor and stay abreast of compliance related industry developments, as well as proposed and new regulations relating to consumer protection.

    Qualifications

    • Bachelor’s degree
    • 2-5 years of prior experience working with unsecured consumer financial laws, rules, and regulations in a compliance or in-house legal capacity. Focus on Student lending regulatory compliance experience preferred but not required.
    • Experience drafting regulatory specific Policies and Procedures, creating and administering regulatory compliance training, and administering regulatory compliance testing and monitoring
    • Experience interacting with federal and state examiners and state licensing personnel in both an examination management and licensing context preferred but not required.
    • Basic knowledge of licensing and examination requirements, processes and procedures for a lender in states and U.S. territories preferred but not required.
    • Ability to interpret complex and ambiguous consumer compliance and licensing statutes.
    • Knowledge of the NMLS and applicable filing requirements preferred but not required.
    • Excellent oral and written communication skills
    • Strong self-confidence, good judgment and the ability to make sound decisions.
    • Ability to interface effectively with other departments and operate in a fast-paced environment with minimum supervision.
    • Outstanding initiative, attention to detail and organizational skills.
    • Ability to recognize and focus on critical issues. Flexibility to balance and respond to competing needs within the organization.
    • Strong interpersonal skills and ability to work with regulators and licensing professionals
    • Excellent organizational and time management skills; Self-starter; able to prioritize, meet deadlines and address continually changing priorities
    • Skilled in Microsoft Office applications, ability to become proficient in other applications as needed
    • Licensed paralegal, CRCM, or other industry certification is a plus.

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