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Chief Compliance Officer
Job Opportunity at
Mackie Search, LLC
Posted on Mar 26
Chief Compliance Officer
Position reports to: Chief Executive Officer
The Compliance Officer is a strategic leader who is attuned to the ever-changing needs of the collection industry, healthcare and the administration of regulatory compliance. The Compliance department performs governance and oversight functions of the compliance program including proactively working with business units to identify and escalate compliance risk within the organization and achieve strong compliance results and ratings. The compliance officer works closely with all lines of business ensuring effective, efficient and sustainable controls and procedures are implemented by the business lines.
ESSENTIAL DUTIES & RESPONSIBLITIES:
The Compliance Officer is directly responsible for providing strategic leadership, vision, and ongoing support to the business units regarding compliance best practices and trends. The individual is also accountable for developing, implementing and maintaining Compliance Management System.
Overall responsibility and accountability for building, promoting and sustaining company Compliance Management System as required by the CFPB;
Overall responsibility and accountability for building company compliance program
Overall responsibility and accountability for building, promoting, and sustaining company annual compliance assessment;
Overall responsibility and accountability for reporting to the company’s board of directors/governing body on at least a quarterly basis in accordance with the CFPB’s requirements and updating the board of directors on CFPB compliance requirements;
Responsible for the development and maintenance of an effective compliance organization including: a) established compliance performance standards; b) effective delineation of compliance duties and responsibilities; c)appropriate management and supervision regarding compliance; d) systems for timely communication of pertinent compliance information; e) the identification and development of compliance function-specific orientation and role based training programs for board for key personnel upon hire and throughout the term of service.
Oversee the facilitation of all compliance examinations of company. Review responses to regulatory requests regarding licensure requirements. Respond to examination and audit criticisms, meet with regulators regarding each exam and audit item, negotiate and resolve high profile compliance issues with state and federal entities.
Oversee, manage and respond to all consumer complaints received directly from the CFPB by way of its portal or from any other source including state attorneys general, consumer attorneys, the Better Business Bureau, etc.
Manage litigation filed or threatened against company;
Proactively assess the impact of regulatory developments which could impact the collection operation and support the development of new control mechanisms.
Support the ongoing compliance risk management cycle including: the processes of communicating regulatory matters, reviewing risk assessments and testing results, identifying control gaps, communicating any gaps to management and key personnel within the line of business, and ensuring management remediation plans are adequate and implemented in a timely manner.
Manage the Quality Assurance department. Set annual third party compliance audit priorities and approve third party audit plans as developed. Review client audit findings and approve any corrective action needed to address audit findings. Coordinate client auditing activity and all other compliance and business functions. Review quality assurance and call audit results to determine if there are any trends which may indicate a process, procedure or training gap.
Provide advisory services on compliance matters to business units. Work proactively with business line contacts and management toward ensuring effective and efficient compliance risk management solutions are identified and implemented. Consult on new products, services and automated systems to assist the lines of business with incorporating compliance requirements into these initiatives. Review complaints to determine if there are any trends which may indicate a process, procedural or training gap.
Track identified compliance issues. Monitor and report the progress on all identified compliance issues. Promptly escalate any compliance issues not being addressed timely.
Provide an ongoing evaluation of the compliance risk of the business unit activities through various contact and review mechanisms. Utilize standardized tools to create an analysis of risk assessments for business units and prepare summary reports as necessary. Support root cause analysis in response to control failure in the business units.
Continue to develop and promote subject matter expertise and professional knowledge transfer throughout the organization. Maintain active participation on leadership teams within the organization.
Develop and oversee delivery of company compliance training program for new hires as well as tenured employees throughout the term of service on the FDCPA, FCRA, GLBA, EFTA, ECOA, EDAPP and HIPAA as well as related state collection laws;
Participate in the Compliance Professional Forum;
Establish and lead the Compliance Management Committee, prepare the agenda, meet monthly, document action items and ensure completion of all action item;
Maintain independence from operations of the company so as to maintain independence in judgment and decision making in compliance related decisions.
KNOWLEDGE, SKILLS & ABILITIES:
Strategic thinking with effective project management, facilitation and presentation skills
Strong problem solving skills, interpersonal skills and ability to develop working relationship with the business leaders within the company
Expert knowledge of compliance regulations and the regulatory environment in the context of compliance and risk management framework
Ability to deal with ambiguity and make decisions or recommendations based on incomplete or conflicting information
Knowledge of the collections industry, with a preference for medical/healthcare and education services
Understanding of and experience with:
Federal and State Collection Laws
Rules governing collection agency licensing
HIPAA and identity theft/privacy rules
High degree of integrity and ability to maintain confidentiality and trust around sensitive compliance issues
Demonstrated confidence in challenging mind-sets, influencing business managers while developing/implementing innovative strategies and approaches to support the corporate goals
Strong communication skills and demonstrated ability to communicate complex information clearly and persuasively to create engagement and support across multiple levels within the organization
Bachelor’s degree and Juris Doctor is required
Prior Compliance Officer Experience is strongly preferred
5 – 7 years of Compliance Experience
High degree of analytical skills; recognizes and responds appropriately to problems and challenges. Arrives at sound solutions through analysis and weighing of relevant facts. Uses good judgment in difficult situations. Understands and considers short and long term impact of decisions.
Proven ability to work effectively within all organizational levels and departments to achieve desired results; the ability to work independently and as a member of a team.
Working knowledge of Microsoft Office products.
Company offers a competitive pay and a comprehensive benefits package
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