Regulatory Compliance Manager

Description

Job Summary

The Regulatory Compliance Manager, in tandem with the Chief Compliance Officer, is responsible for overseeing the company’s adherence to all relevant regulatory requirements, industry standards, and internal policies.  

This position will work as part of the team supporting the bank in minimizing and mitigating compliance risk and performs a variety of duties with respect to regulatory compliance by direction of the Chief Compliance Officer.  This position will require regular interaction with bank associates and members of senior management in all areas of the Bank.

Requirements

Key Responsibilities and Duties

Leadership and Management Skills:

• Ability to lead and manage a compliance team, ensuring that compliance initiatives are executed efficiently and effectively.
• Providing guidance and support to junior compliance staff, fostering a culture of continuous learning and development.
• Skilled in resolving disputes or challenges within the compliance function or between departments.

Regulatory Compliance Management:

• Monitor, interpret, and communicate changes in legal, regulatory, and enforcement matters affecting the Bank’s regulatory compliance.  Stay current with evolving laws and regulations and ensure all relevant departments and management are informed to maintain compliance with applicable requirements. 
• Review and update risk assessments to identify potential regulatory risks and propose effective mitigation strategies.
• Ensure policies and procedures are updated to reflect the current regulatory guidance and the Bank’s practices.  
• Provide regulatory support and guidance to associates; interface with senior management and business line leaders to resolve compliance challenges. 
• Support the timely and effective resolution of issues and implementation of recommendations identified through first, second and third lines of defense and external regulatory examinations, monitoring and testing.

Cross Departmental Collaboration:

• Review and approve marketing materials, advertisements, and promotional content to ensure they comply with relevant banking regulations (e.g., Regulation Z for Truth in Lending, Regulation DD for Truth in Savings, and UDAAP for unfair or deceptive advertising, etc.).
• Work closely with senior management, operations, business lines, audit, risk, and other departments to ensure bank-wide compliance with regulations.
• Advise business units on regulatory matters related to new products, services, and business processes.  Assist in the design, review, and execution of launching or updating products and services.
• Update NMLS Registry as necessary with current registration of MLOs. 

Reporting & Filings:

• Provide material and create slides for board reporting on a monthly basis.
• Perform monthly/quarterly review and reporting of monitoring activities related to deposit compliance, loan compliance, and residential, including HMDA (as applicable). 
• Assist in preparation and ensure timely filing of HMDA LAR and CRA LAR (as applicable) annually.
• Monitor and assist in addressing customer complaints, as applicable, and review for impacts of related regulatory compliance, including fair lending, ensuring that issues are resolved in accordance with applicable regulations.

Internal Audits, Monitoring and Exams:

• Lead periodic monitoring reviews/audits to ensure adherence to regulatory compliance requirements, identifying gaps and providing recommendations for improvements.
• Monitor key compliance metrics, prepare reports, and obtain corrective action plans with management and validate implementation.
• Analyze findings and perform root cause analysis, distinguishing between various levels of compliance risk.  Identify and assist in resolving compliance and control issues.
• Prepare, assist and participate in regulatory examinations and audits, as necessary. 

Compliance Training:

• Develop and deliver training programs (online and ancillary) for associates, enhancing awareness of key regulatory requirements.
• Ensure ongoing training on compliance topics to foster a culture of compliance within the organization.
• Facilitate training for new and existing employees including preparing and presenting training materials.
• Complete all required training as assigned and participate in external training events.

All other tasks, responsibilities or duties, as directed by management.

Qualifications and Skills

Education/Experience: 

• Advanced degrees (Bachelor's, and/or Master's) preferred; High School diploma or GED is required. 
• Candidates with a combination of relevant coursework and experience, or those with extensive professional experience (minimum 5 years in a related field), are eligible for consideration.

Knowledge:  

• Strong understanding of Deposit Compliance Regulations, including Regulations: D, E, CC, DD, Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Truth in Savings Act (TISA), Electronic Fund Transfer Act (EFTA), Customer Identification Program (CIP), and Unfair, Deceptive, or Abusive Acts or Practices (UDAAP).
• In-depth knowledge of Loan Compliance Regulations, such as ECOA, FCRA, HMDA, RESPA, REG Z, CRA, Fair Lending, Flood, UDAAP, SCRA, etc.
• Proficient in real estate loan underwriting, including investor guidelines and appraisal review, with a thorough understanding of real estate loan documents and disclosures.

Technical Proficiency: 

• Skilled in Microsoft Office Suite software. Experience with systems such as: Encompass, Laser Pro, CRA Wiz, RiskExec, or similar platforms is preferred.

Organizational, Analytical, & Investigative Skills: 

• Strong analytical, investigative, and mathematical skills, with keen attention to detail and a commitment to data accuracy. 
• Exceptional attention to detail, strong organizational skills, and the ability to communicate effectively with others in a professional setting.
• Proactive and resourceful, capable of working independently, thinking critically, and managing multiple assignments simultaneously while consistently meeting deadlines.

Additional Competencies:

• Desired understanding in the administration of a real estate quality control program and managing a QC vendor relationship. Comprehensive understanding of the selling and servicing guidelines of government-sponsored enterprises (Fannie Mae and Freddie Mac), as well as the Federal Housing Administration Handbook and Mortgagee Letters.
• Professional certifications such as Certified Regulatory Compliance Manager (CRCM), Certified Anti-Money Laundering Specialist (CAMS), or similar are highly desired.
• Ability to adapt quickly to changing regulations, internal policies, and business needs, and to lead the organization through those changes.
• Occasional travel may be required for training, audits, or regulatory meetings.