We are looking for a Compliance Director to oversee and manage regulatory compliance within a fast-paced auto lending company in Houston, Texas. This position requires a strategic thinker who can ensure adherence to state and federal laws while identifying and mitigating risks associated with consumer financing. The ideal candidate will play a vital role in developing policies, conducting audits, and maintaining the company's compliance framework.
Responsibilities:
- Monitor and implement regulations such as the Truth in Lending Act, Equal Credit Opportunity Act, and Fair Credit Reporting Act to maintain legal compliance.
- Identify, assess, and mitigate compliance risks related to auto lending practices, including proper handling of product cancellations and refunds.
- Develop, update, and enforce internal policies and procedures to align with current regulatory requirements.
- Provide training to staff members on compliance protocols to ensure consistent understanding and application across the organization.
- Conduct thorough audits to verify adherence to established standards and identify areas for improvement.
- Oversee credit reporting controls and ensure accurate reporting to credit bureaus.
- Prepare detailed reports on compliance risks and present findings to senior management or the board of directors.
- Collaborate with various departments to ensure fair lending practices and consumer protection measures are consistently upheld.
- Stay informed on changes to laws and regulations affecting the auto finance industry and implement necessary updates to company processes.
- A minimum of 3–5 years of experience in compliance within the auto lending, finance, or banking sectors.
- Extensive knowledge of consumer protection laws, auto finance regulations, and state-specific licensing requirements.
- Strong communication skills to effectively relay risks and regulatory impacts to executive leadership.
- Proficiency with compliance software and familiarity with credit bureau reporting processes.
- Demonstrated ability to conduct regulatory audits and implement effective compliance management systems.
- Expertise in managing credit risk and ensuring adherence to fair lending practices.
- In-depth understanding of regulations such as ECOA and FCRA to ensure operational compliance.