NewOak named Jonna Boyle as a director in Credit Services LLC, a consultancy that specializes in providing credit and regulatory compliance for commercial and consumer loan products.
Boyle brings more than 14 years of compliance management experience in the financial services industry, primarily in auto finance. Her expertise spans areas such as compliance audit, complaint management, compliance risk, policies and procedures and regulatory affairs at both the state and federal level.
At NewOak, Boyle will provide compliance consulting services to lenders engaged in direct and indirect auto finance, firms providing capital to those lenders, and buyers of bulk portfolios. She will assist with the development and implementation of compliance management systems and conduct independent audits to assess compliance risk in areas including the Equal Credit Opportunity Act, Truth in Lending Act, Service Members’ Civil Relief Act, Fair Credit Reporting Act, Fair Debt Collection Practices Act, Unfair, Deceptive or Abusive Acts and Practices, and state regulations.
She is based in the firm’s Dallas office.
“Since the financial crisis, markets have been characterized by higher credit standards,” Chad Burhance, NewOak’s group CEO, said in a press release. “With this shift comes strict regulations that even the most diligent companies find challenging to comply with given the complexities of their businesses. The auto finance industry, like the mortgage industry, has been especially hard hit with regulatory hurdles.”
Prior to NewOak, Boyle was president and founder of Iron Compliance, a boutique consulting firm geared toward finance companies engaged in auto lending, leasing, and loan servicing. There, she designed and implemented compliance management systems, performed independent audits, and provided ongoing research, documentation review and operational support to mitigate clients’ compliance deficiencies.
From 2012 to 2014, Boyle served as the senior vice president of compliance at SFG Finance, where she built a compliance management system to ensure that the acquisition and servicing of auto loan portfolios met regulatory requirements and industry best practices. She also advised the parent bank of compliance issues and regulatory changes specific to all aspects of originations and loan servicing. Boyle previously headed the compliance departments at Santander Consumer USA and Triad Financial Corp.
Boyle earned a Certified Regulatory Compliance Manager certification through the Institute of Certified Bankers in 2013. She also served on the board of the National Automotive Finance Association from 2012 to 2014.