What are the responsibilities and job description for the Director of Deposit Compliance position at Northwest Bank?
Job Description
The Director of Deposit Compliance is a senior compliance leader responsible for overseeing regulatory compliance for all deposit-related products, services, and operations across Northwest Bank. This role ensures adherence to key regulations such as Regulation D, Regulation DD, Regulation CC, Regulation E, and UDAP/UDAAP. The central focus of the role is leading the Risk and Control Self-Assessment (RCSA) program for deposit compliance, ensuring risks are identified, assessed, mitigated, and monitored effectively. This individual will work cross-functionally with business, risk, and audit teams to maintain a strong control environment and support regulatory examination readiness.
Essential Functions
- Lead enterprise-wide compliance efforts for all deposit products and operations, including checking, savings, money market, CDs, and payment services. Ensure policies, procedures, and controls meet regulatory expectations and internal standards
- Work closely with the 1LOD (Branch network, Products, Deposit Operations) to ensure compliance enterprise wide
- Assist in the implementation and execution of the Risk and Control Self-Assessment process for deposit compliance
- Partner with business leaders to identify key risks, assess control design and operating effectiveness, and document remediation plans where gaps are identified
- Ensure timely updates and ongoing monitoring of RCSA results
- Monitor regulatory developments impacting deposit operations and ensure timely implementation of necessary policy or process changes
- Provide subject matter expertise to interpret new rules and guidance
- Establish and oversee compliance monitoring and testing plans specific to deposit regulations
- Analyze results, escalate issues, and ensure corrective actions are implemented and tracked to closure
- Assist compliance management in preparing for regulatory compliance examinations and internal audit
- Assist in the development and delivery of training on deposit compliance requirements, including Regulation E, DD, CC, and other applicable rules
- Provide advisory support to business units during product development and process changes
- Prepare regular reporting for senior management and the Board on deposit compliance risks, RCSA results, and program performance metrics
- Support governance committees and risk forums with actionable insights
- Maintain knowledge of Northwest's product offerings and parameters
- Utilize artificial intelligence tools to monitor, analyze, and ensure adherence to deposit-related regulatory requirements, enhancing risk management and operational efficiency
Additional Essential Functions
- Ensure compliance with Northwest’s policies and procedures, and Federal/State regulations
- Navigate Microsoft Office Software, computer applications, and software specific to the department in order to maximize technology tools and gain efficiency
- Work as part of a team
- Work with on-site equipment
QUALIFICATIONS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education
Bachelor's Degree Business related degree or equivalent
Work Experience
6 - 8 years Banking experience with a focus in consumer deposits
Additional Knowledge, Skills and Abilities
Strong Retail Banking background
Awareness of Retail Lending
Ability to interpret compliance regulations and apply them to business requirements and workflows
Ability to coordinate and manage multiple projects
Ability to prioritize complex workload, motivate staff to excel, and meet project deadlines
Ability to build rapport and develop strong internal and external partnerships
Licenses and Certifications
CRCM Within 3 years
Northwest is an equal opportunity employer. We are committed to creating an inclusive environment for all employees.