Director, Compliance and Risk Management

The Baltimore Development Corporation (BDC) is the economic development agency for the City of Baltimore. Our mission is to grow the city’s economy in an inclusive manner by retaining, expanding, and attracting businesses and promoting investment, thereby increasing career opportunities for residents. BDC is committed to a more equitable economy by supporting minority and women-owned businesses and promoting investment in neighborhoods that have been negatively impacted by institutional racism and/or generational poverty. We develop strategies and facilitate collaboration among our partners to intentionally create an inclusive and equitable economy.

POSITION OVERVIEW

The Director of Risk Management and Compliance serve as a key member of BDC's leadership team, responsible for establishing and maintaining a comprehensive risk management framework and ensuring organizational compliance with all applicable laws, regulations, and policies. This position protects BDC's assets, reputation, and mission by identifying, assessing, and mitigating operational, financial, legal, and reputational risks while fostering a culture of compliance and ethical conduct throughout the organization.

RESPONSIBILITIES

Compliance and Risk Management

• Overseeing compliance and risk management for the organization's grants and lending activities.
• Ensuring adherence to relevant laws, regulations, and internal policies within the grants, lending, and financial administration functions.
• Developing and implementing risk management strategies and internal controls.
• Collaborating with other departments within the Finance, Administration, Innovation, Economic Development, Strategy, and Business Development divisions to manage risks and ensure compliance across all operations.
• Working in coordination with the Director of Development and Grants Management and the Director of Lending.

Financial Compliance and Controls

• Collaborate with the EVP/CFO to establish and monitor internal financial controls
• Ensure compliance with grant and contract requirements, including federal funding regulations (such as Uniform Guidance/2 CFR 200)
• Review financial transactions and reports for compliance with established policies and procedures
• Monitor expense reimbursements, procurement processes, and vendor relationships for compliance and propriety
• Ensure proper administration of conflict of interest disclosures and related party transactions 

Contracts and Outreach

• Develop, implement, and manage the organization's Minority Business Enterprise (MBE) and Women Business Enterprise (WBE) programs and policies, ensuring alignment with relevant local, state, and federal regulations.
• Oversee the tracking, monitoring, and analysis of prime contractor and subcontractor compliance with diversity and inclusion goals. Review bid and proposal documentation, waiver requests, and monthly reports.
• Investigate prompt payment issues, non-compliance concerns, and alleged violations related to the programs, recommending and implementing corrective actions.
• Gather and analyze statistical data on program participation, ensuring accurate record-keeping and preparing necessary reports for senior leadership and external regulatory bodies.

Auditing and Reporting

• Oversee and conduct regular internal audits and reviews, manage external audits and regulatory examinations, and lead investigations into reported violations or incidents.
• Develop and deliver compliance and risk training programs and awareness campaigns for all employees and the Board of Directors to foster a culture of accountability and ethical conduct.
• Prepare detailed reports and presentations for executive leadership and the Board of Directors on the organization's risk posture and compliance efforts, and serve as the primary liaison to regulatory authorities and external auditors.
• Write, review, and update policies and standard operating procedures to reflect regulatory changes and best practices.

Policy Development and Training

• Develop, implement, and maintain organizational policies related to risk management, compliance, ethics, and internal controls
• Create and deliver training programs on compliance topics, ethics, conflicts of interest, and risk awareness
• Foster a culture of compliance and ethical conduct throughout the organization
• Serve as a resource for staff on compliance and risk management questions

Reporting and Documentation

• Prepare regular reports on risk management activities, compliance status, and emerging concerns for executive leadership and the board
• Maintain comprehensive documentation of risk assessments, compliance audits, investigations, and corrective actions
• Track and report key risk indicators and compliance metrics
• Ensure proper retention and management of compliance and risk management records

KNOWLEDGE, SKILLS, AND ABILITIES

• In-depth knowledge of federal, state, and local regulations pertaining to financial institutions, lending practices, and grant administration is essential.
• Excellent analytical skills to interpret complex laws and regulations, identify potential risks, and develop effective mitigation strategies.
• Proven ability to lead teams, influence senior-level stakeholders, and communicate complex information clearly and professionally in both written and verbal formats.  
• Experience in designing, implementing, and monitoring risk management frameworks, internal controls, and audit programs.
• Strong organizational skills and attention to detail to manage multiple tasks, meet deadlines, and handle sensitive information with discretion. 

REQUIRED QUALIFICATIONS

• Bachelor's degree in Business Administration, Finance, Law, or a related field. 
• A minimum of five to ten years of progressive experience in compliance, risk management, or regulatory affairs is common, with a preference for experience within consumer finance, grants, lending, or non-profit sectors.
• Professional certifications in compliance management, such as a Certified Compliance & Ethics Professional (CCEP) or a Certified Regulatory Compliance Manager (CRCM), are preferred.

OFFICE ENVIRONMENT REQUIREMENTS

• Workplace Setting: The position requires presence in an office setting, employees are scheduled to work a 7.5-hour workday Monday through Friday, providing a total of 37.5 hours per work week. The BDC 7.5-hour workday plus one hour for lunch, begins between 7:00 am – 9:00 am and ends between 3:30 pm – 5:30 pm. Flexibility for occasional extended hours or weekend work may be required.
• Equipment Use: Proficiency in using standard office equipment such as computers, printers, copiers, and telecommunication devices is essential.
• Rare evening and weekend work for special events and Board meetings
• Some travel within the Baltimore metropolitan area for community events and stakeholder meetings
• BDC’s offices are located at 36 S. Charles on the 21st & 20th floors and are accessed via elevators and emergency stairs.

PHYSICAL REQUIREMENTS

• Mobility: The position requires the ability to sit for extended periods, stand, and walk, including occasionally moving between different locations within the office and offsite.
• Manual Dexterity: Must be able to use hands and fingers to operate office equipment, handle documents, and perform data entry.
• Lifting: Occasionally required to lift and move objects weighing up to 20 pounds.
• Vision and Hearing: Adequate vision and hearing are necessary for reading documents, using a computer, and communicating with others in person and via telecommunication devices.

DRESS CODE

• Professional Attire: The candidate is expected to adhere to a professional dress code that reflects the organization's standards and presents a neat, clean, and business-like appearance.
• Meetings and Events: For meetings with public officials, community leaders, or external partners, business formal attire may be required.
• Casual Days: On designated casual days, business casual attire is acceptable, provided it maintains a professional and respectful appearance.