Senior Compliance Specialist

Job Description: Senior Compliance Specialist
Reports To: Director – Compliance

Job Group: Professionals
Job Group Code: 2
EEO Class: 2

SOC Code: 13 - 1041
Cost Center: 1 – Corporate Division - Compliance

Position Purpose:

·         This position works with a team of compliance specialists whose overall mission is to ensure all consumer regulatory requirements are met by our   partners.

Primary Responsibilities:

·         Support the design and conducting of an annual risk assessment to identify potential threats to Bank and business partner(s).

·         Perform testing and monitoring on FDIC regulations applicable to Bank and business partner(s) – including, but not limited to, Reg E, Reg CC, Reg DD, Reg P, FACTA Red Flags, Privacy, UDAAP, board reporting, policies, and procedures.

·         Ensure Bank and business partner(s) policies and procedures are updated in a timely fashion.

·         Support due diligence performed on third-party (and fourth in some cases) vendors – both new partners and periodic reviews of existing 3rd parties (testing and monitoring).

·         Perform ongoing marketing reviews of our (s) client communications and website content.

·         Staffing capacity evaluations on our partner Compliance division.

·         Weekly calls with counterparts.

·         Involvement in audits or exams including those that require third-party oversight.

·         Training – periodic review to ensure appropriate content and completion percentages – ensure their standard operating procedures are continually updated & sufficient.

·         Annually review for any substantial regulatory changes, including Dept of Education requirements

·         Ensure bank and business partners are following all privacy requirements, including GLBH, and special state regulations such as California Privacy (CCPA) rules.

·         Recommend and assist with departmental procedure updates and peer training.

·         Assist with new peer training on departmental processes and procedures.

·         Other duties as needed.

Authority, Impact, Risk:

·         Reputational and financial risks due to non-compliance.

·         Lack of understanding and compliance on the part of the staff due to improper or non-existent training and incomplete/missing policies and procedures.

Key Relationships:

·         Routine interaction with   department employees, Chief Compliance Officer, Internal Audit Manager, Chief Operating Officer, CFO, Managing Director - Operations and IT, and all impacted staff.

·         Agency regulators (both State and Federal).

 Managerial Accountability:

·         Influential leadership of peers when management is unavailable.

Working Expectations:

·         Ability to prepare concise reports.

·         Ability to deliver information in a confident, informed manner.

·         Ability to manage time to accommodate multiple deadlines, various reporting hierarchies and competing schedules.

·         Ability to deliver training on numerous regulatory subjects in an informative style that ensures understanding of the subject matter.

·         Ability to accurately analyze and communicate reports and findings.

·         Ability to work in fast paced environment.

Time Allocation:

·         Determined by BSA and Compliance self-assessments and internal/external audit results and Regulatory examination and Board schedules.

Job Specifications:

Position adheres to confidentiality policy, code of ethics and knowledge of Bank Secrecy Act and best practices and other pertinent Regulatory laws and regulations.

 Requirements:

·         Bachelor’s degree in business, finance, accounting, or a related field; OR 2 years’ experience in Banking or other financial services industry.

·         Working knowledge of FDIC requirements with applicable regulations, including Reg E, Reg CC, Reg DD, Reg P, Fact Act Red Flags Identity Theft.

·         Strong communication skills (written and verbal).

·         Detail oriented.

Preferred Skills:

·         Prior Banking or Regulatory experience.

·         Understanding the risks and control impacts from monitoring results, including appropriate remediation required to mitigate root cause.

·         CRCM Certification.

Risk Management Requirements:

Understands and adheres to Workplace Policies, Code of Conduct, privacy, and information security guidelines. Understands and adheres to Anti-Money Laundering, Bank Secrecy Act, and Compliance with the USA PATRIOT Act policies and procedures applicable to position, completing any supporting requirements within defined timeframes. Acts within authorized limits and delegated authorities and role applicable policies and procedures. Follows processes and controls to protect shareholder interests. Mitigates risk to the bank and customers by following all applicable security procedures.

Equal Opportunity Employer including Veterans/Disabilities