This position is within the Compliance Risk team which is responsible for planning and executing the compliance risk, control, and governance activities that supports the overall objectives of Corporate Compliance. The position is required to help manage the policies and procedures, risk assessments, risk monitoring, risk reporting, and other critical risk and governance tasks required for the development and implementation of the risk and governance program within Corporate Compliance.
1. Policy Governance: Manage the governance process for developing, reviewing, and publishing Compliance Policies. It includes: (a) Maintain the document library of Corporate Compliance policies, (b) Review policies and procedures prior to publication to ensure it adheres to document standards, (c) Provide training and feedback to document owners to ensure they understand the standards, (d) Develop the monthly dashboard reports and send them to the audience, (e) Reconcile the inventory of policies with the risk assessment data and ERM repository.
2. Risk Assessment: Assist in the execution of the corporate compliance, fraud, and BSA risk assessments by identifying the key risks and assessing mitigating controls to determine the risk profile for the organization.
3. Risk Reporting: Design, develop, and execute risk reporting that integrates data from various sources to create a comprehensive view of compliance information.
4. Data Analytics: Coordinate the collection of risk information from source systems, departments, and reporting. Analyze the data and apply to various key risk areas to update the risk profile. Develop and design drill down reporting and top-level reporting.
5. Risk Monitoring: Be part of the team that manages the design and implementation of the process for monitoring compliance metrics across the organization. It includes development and monitoring of key risk indicators (KRIs) that are mapped to various risks to determine elevations in risk and proactively implement risk mitigation measures.
6. Emerging Risks: Manage the process for identification, categorization, processing, and reporting emerging risks relevant for compliance, such as risks associated with new products and services, customer types, geographies, and channels. It includes (a) evaluation of the landscape of emerging risks types and decide which risks to track based on availability of data, appropriateness to organization's risks, and other relevant factors, (b) reviewing the emerging risks and applying judgement to correctly categorize and document the emerging risks along various risk dimensions, such as regulations, regulatory themes, products, KRAs, etc.
7. Issues Management: Track, document, and report on the progress of compliance issues identified by auditors, self-testing, or other assessments.
8. Others: Assist in various compliance projects that support the compliance risk management practices.
Knowledge of banking and financial laws and regulations, such as those promulgated by banking regulators (FRB, OCC, OTC), CFPB, FTC, FINRA, FinCEN, etc.
Demonstrate strong knowledge of risks identification, assessment, and management frameworks.
Familiarity with the control frameworks and the ability to design and evaluate effectiveness of controls embedded within business processes.
Knowledge of compliance management systems and frameworks and understanding of the three lines of defense framework.
Skills and Competencies
Strong skills in spreadsheets and in analyzing large volumes of data.
Excellent verbal and written communication skills.
Good time management and attention to detail.
Good analytical, research, organizational, and project management skills.
Skills in analyzing and understanding business activities to identify, document, and map key processes and controls.
Ability to perform regulatory research through various sources such as GPO, Federal Register
Analyze regulatory requirements and internal policies and procedures to document related risks, compliance activities, and controls.
Flexibility in learning new topics, handling change and deadline
Ability to work independently and take initiative.
Ability to deliver recommendations to stakeholders and senior management in a constructive manner.
Strong individual contributor with the ability to work effectively within a team.
Education Bachelor's Degree in Business Administration, Accounting, Finance or equivalent. MBA or MS is a plus. CAMS, CRCM, FRM, CFA, CIA preferred