What are the responsibilities and job description for the Compliance Officer - Testing position at Valley Bank?
At Valley Bank, we believe in people's growth potential. We invest in it. We protect it. We focus it. For nearly 100 years, we've been the Bank that clients from every industry turn to for our expertise, strategies, and advice--building the kind of trust that can fuel every goal. We are the leading relationship bank built for growth--with over $60 billion in assets, 3,800 experts, and more than 200 consumer branches and commercial banking offices in communities across the US.
At Valley, we're all driven by an ambition that goes deeper than just having a job. That's why when you work for us, we make it our goal to help you focus on what drives you--working to turn your passions and strengths into assets you can use to propel your ambitions and build the professional legacy you want. Because when we say we're a relationship bank built for growth, that's not just reserved for our clients--that includes all our associates as well.
The Compliance Officer -- Testing has responsibility for end-to-end testing and will support Risk Assessment processes designed to assess adherence to federal and state banking regulations and internal policies, ensuring effective identification, monitoring, and reporting of compliance risks across the organization.
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Responsibilities Include But Are Not Limited To
Required Skills
At Valley, we're all driven by an ambition that goes deeper than just having a job. That's why when you work for us, we make it our goal to help you focus on what drives you--working to turn your passions and strengths into assets you can use to propel your ambitions and build the professional legacy you want. Because when we say we're a relationship bank built for growth, that's not just reserved for our clients--that includes all our associates as well.
The Compliance Officer -- Testing has responsibility for end-to-end testing and will support Risk Assessment processes designed to assess adherence to federal and state banking regulations and internal policies, ensuring effective identification, monitoring, and reporting of compliance risks across the organization.
,
Responsibilities Include But Are Not Limited To
- Independently perform Compliance testing Activities for Valley businesses in adherence with regulatory standards, documenting results accurately and ensuring quality and timely execution.
- Support compliance Risk Assessment processes for businesses supported, including performing analysis needed.
- Monitor and follow up on remediation actions arising from testing activities and confirm that corrective action has been effectively implemented.
- Collaborate with Compliance and business stakeholders to provide guidance on Compliance processes, gather information and discuss compliance issues and related opportunities for process improvements.
- Prepare compliance monitoring metrics and provide reports to management, identifying trends or areas requiring further attention.
- Monitor changes in relevant banking regulations.
- Contribute to training and documentation by drafting and updating compliance procedures and training materials.
- Prepare responses for Internal Audit or regulatory examinations and outside agencies, including the OCC and CFPB.
- Update relevant systems (e.g., AuditBoard) with testing workpapers, results, and status updates, ensuring records are organized and accessible for review.
Required Skills
- Familiar with all consumer banking regulations and applicability to commercial deposit and lending activities. Knowledge of third-party risk management and/or corporate compliance (Volcker Rule, Regulation W, FATCA) preferred.
- Ability to provide effective guidance to stakeholders at all levels.
- Intermediate to advanced PC skills for Microsoft Office -- Word, Excel, and Outlook.
- Excellent verbal and formal written communication skills.
- Ability to analyze various compliance problems or regulations and develop effective solutions.
- Ability to conduct research independently via written materials as well as electronic versions in an effective and professional manner.
- Ability to manage and complete projects effectively.
- High School diploma or GED equivalent and a minimum of three years of related compliance experience.
- Bachelor's Degree and/or additional education/courses preferred.
- ABA Certified Regulatory Manager (CRCM) certification), Association of Certified Anti-Money Laundering Specialist's (CAMS) certification, Bankers Training and Certification Center's (BAI) Anti-Money Laundering Professional (AMLP) certification.