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Vendor Oversight Manager
Who we are:
Sallie Mae is proud to help Americans aspiring to create the life they wantwhether that means helping them make college happen, or something more. Our colleagues across departments and across the country are united in our passion and our customer-first approach. Whether you want to join a growing company, be part of an agile workforce, or gain new skillsyoure in the right place.
What Youll Contribute:
This position will have day to day responsibility for the development,
maintenance, and execution of the first line of defense controls for all
aspects of the post-default loan sales and third-party recovery compliance
oversight program. The scope of responsibilities includes: provide day to
day compliance expertise to ensure an effective system of regulatory
control exists within the line of business; staying current on the
compliance and regulatory landscape associated with post-default loan sales
and third party recovery compliance oversight program; overseeing,
executing and reporting on the testing and monitoring program, vendor
management playbook and vendor site visits and independently assess whether
the compliance control environment is operating as intended; participate in
all new initiatives or modifications to existing strategies to ensure
compliance with applicable laws and regulations while independently
assessing managements readiness for implementation; Provide management
with reporting on the status and performance of the post-default loan sales
and third-party recovery strategy compliance oversight program.
What You'll Do:
30% - First Line of Defense Testing and Monitoring
Develop, maintain and execute testing and monitoring procedures relatedto post-default loan sales and third-party recovery compliance oversight.
Ensure testing and monitoring procedures accurately reflect legal andregulatory requirements.
Ensure testing procedures accurately reflect Sallie Mae Bank policy andprocedure requirements.
25% - Develop and Maintain Risk Inventory and Conduct Risk Assessments
Develop and maintain lists of all compliance obligations for post-defaultloan sales and third-party recovery strategy.
Conduct a compliance risk assessment to determine the effectiveness offirst line of defense controls and the residual compliance risk.
Maintain and continuously improve all procedures and testing routinesrequired to support the post-default loan sales and third-party recoverycompliance oversight program.
25% - Reviewing and Reporting and Monitoring Results
Review results of testing and monitoring with business unit management togain agreement on exceptions.
Provide recommendations to address any deficiencies.
Provide management and third-party partners with reporting on results oftesting and monitoring.
Produce trending analysis of testing and monitoring efforts.
Provide summary reporting on results.
10% - Issue Tracking
Track issues noted during testing and monitoring to ensure remediationefforts are on track.
Validate that issues deemed closed by management and third-party partnershave been appropriately mitigated.
Provide summary reporting on issue status and resolution.
10% - Participate in all new initiatives or modifications to existing
Provide independent risk assessment associated with new strategies orchanges to existing ones
Escalate concerns to management and work to identify appropriatemitigation strategies as needed
Ensure procedures are updated in a timely manner to reflect new ormodified strategies.
What You Have:
5 years of financial institution experience in Operations, Collections,Lending and/or Risk
3-5 years Operations reporting/control experience
Enterprise reporting software experience
Ability to understand complex regulatory requirements and analyze theirimpact on operations.
Proficient analytical, problem solving, time-management, organizational,planning and prioritization skills.
Strong oral and written communication skills and an ability to plan andfacilitate meetings.
Demonstrates an understanding of data analysis, reporting, and/ortechnical documentation
Demonstrated knowledge and proficiency in SAS query language preferred,but not required
High level of initiative and ability to successfully complete multiplepriorities under tight deadlines.
Demonstrate the ability to interact with management and personnel at alllevels and locations of the Corporation and with external partnerships.
Microsoft Office proficiency
Ability to work independently
Knowledge of HEA, non-HEA related laws and regulations that apply to student loan originations (e.g., GLBA, FDCPA, MLA, TCPA, FCRA, ECOA/Fair Lending, TILA/HEOA, USA PATRIOT Act), preferred but not required
Knowledge of Sallie Mae business areas (e.g., Credit, Fraud, Sales CallCenter, Decision Science and Analytics) preferred, but not required.
Certification in regulatory, audit or risk management disciplinespreferred, but not required.
Familiarity with FDR preferred, but not required
Ability to travel as necessary (~20%)
What You'll Get at Sallie Mae:
Comprehensive Compensation and Healthcare Benefits (Medical, Dental, Vision plans)
Financial Well-being : 401(k) company match, employee stock purchase plan, and basic life insurance and short-term disability are provided to employees at no cost
Work/Life Balance : Paid time off, time off to volunteer, and tuition reimbursement. In addition, after 6 months of employment, primary caregivers receive 12 weeks of 100% fully paid time off and secondary caregivers are eligible for 4 weeks of 100% fully paid time off, for birth or adoption
Wellness : Fitness centers/gym subsidies, free Fitbits with step challenges, and wellness education
REQ ID: 593
Sallie Mae is proud to be an equal opportunity (EEO) employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender, sexual orientation, national origin, age, genetic information, gender identity, disability, Veteran status or any other characteristic protected by federal, state or local law. If you'd like more information about your EEO rights as an applicant, please click here. EEO is the Law Supplement. Click here to view the U.S. Pay Transparency Policy.