Long story short, there's a weird white ring around my piercing (dead skin?) that won't go away.

Now, here's the long story: I've had my nose pierced for over a year. I had a seriously-bad bump above the piercing for around 6 months (no joke) that finally went away when I switched my jewelry from SS (which contains nickel) to Titanium. The bump has not returned since (for over 6 months), BUT the piercing still has not completely healed. It still gets infected off-and-on, puss shows up whenever I get out of the shower, and it crusts still. I think my body just takes longer than normal to heal (I've had a similar issue with my ear-piercings before). I also had a rip where my ring moved itself (weird, right?). That's where the small scar above the piercing is from (it isn't half as noticeable as it is in the picture).

Anyways, see the weird white ring above the hole? What is that? How do I make that go away? Looking at my piercing, can you tell what's wrong? Professional answers only, please.

Here are some pictures:

Thanks everyone!