Job Summary:The Compliance Advisor serves as a trusted 2nd Line of Defense subject-matter expert supporting the Firm's consumer and small business/commercial lending lines of businesses by providing independent compliance risk oversight, advisory guidance, and effective challenge. This role is responsible for advising 1st Line of Defense partners on consumer and small business/commercial compliance regulatory requirements, identifying and assessing compliance risks across lending products, and evaluating the effectiveness of controls within the Firm's Compliance Management System (CMS).
The Compliance Advisor will bring deep working knowledge of consumer lending regulations including TRID, ECOA/Regulation B, RESPA, Flood Insurance, Regulation Z (including HELOCs), construction and construction-to-permanent loans, credit cards, and the Small Business Data Collection Rule (Section 1071). The role requires a strong understanding of compliance risk assessments, regulatory change management, and the relationship between inherent risk, control design and execution, and residual risk.
This position partners closely with business, operational, and risk stakeholders while maintaining independence consistent with 2nd Line of Defense responsibilities.
Job Duties and Responsibilities:Compliance Advisory & Subject Matter Expertise- Serve as a primary compliance advisor to consumer and small business/commercial lending lines of business units within the 1st Line of Defense, providing timely, practical, and risk-based guidance on consumer and small business/commercial compliance lending regulations.
- Interpret and apply complex regulatory requirements related to:
- TRID (Regulations Z and X)
- ECOA / Regulation B (including fair lending considerations)
- RESPA
- Flood Insurance regulations
- Regulation Z (closed-end, HELOCs, and credit cards)
- Construction loans and construction-to-permanent loan products
- Section 1071 Small Business Data Collection Rule
- Provide advisory support for new products, product changes, and disclosures.
Compliance Risk Assessment & Risk Oversight- Assess the design and effectiveness of 1st Line of Defense compliance risk assessments for consumer and small business/commercial lending products and activities.
- Assess the design and effectiveness of compliance risk controls, identifying gaps and residual risks.
- Understand the relationship between inherent risk, mitigating controls, and residual risk.
- Provide effective challenge where control design or implementation is insufficient to mitigate compliance risk.
Compliance Management System (CMS) Evaluation- Assess the adequacy and effectiveness of CMS components as they relate to lending activities, including:
- Policies and procedures
- Regulatory change management
- Identify weaknesses in CMS execution and recommend enhancements aligned with regulatory expectations and risk appetite.
Regulatory Change & Issue Management Support- Support regulatory change implementation by advising business units on new and amended consumer and small business/commercial compliance requirements.
- Review and challenge business implementation plans for regulatory changes to ensure completeness and sustainability.
- Provide lending compliance input into issue root cause analysis, corrective action plans, and risk acceptance discussions.
- Track and evaluate remediation progress for lending compliance-related findings, ensuring risks are appropriately mitigated.
Governance, Communication & Stakeholder Engagement- Partner effectively with Legal, Audit, Fair Lending, and other Risk Management functions to ensure consistent regulatory interpretations.
- Support interactions with Internal Audit, regulators, and exam management teams as needed, including exam preparation and response development.
- Promote a strong compliance culture by reinforcing accountability, transparency, and risk awareness within the lines of business.
Minimum Education: Bachelor's degree or equivalent combination of education and relevant experience.
Minimum Experience: Five (5) years of progressive experience in consumer compliance and small business/commercial lending regulations within a regulated financial institution, regulatory agency, or consulting environment.
Certification(s): Certified Regulatory Compliance Manager (CRCM) designation preferred.
Required Knowledge, Skills, & Abilities:- Demonstrates hands-on knowledge of consumer and small business/commercial lending regulations, including but not limited to:
- Experience supporting or overseeing consumer/small business/commercial lending products and processes within a 1st or 2nd Line of Defense framework.
- Strong understanding of compliance risk assessments, including identification of inherent risk, evaluation of control design and effectiveness, and determination of residual risk.
- Working knowledge of Compliance Management System (CMS) components and regulatory expectations (policies, training, monitoring, complaint management, change management, and issue management).
- Proven ability to provide credible, independent challenge while maintaining effective working relationships with business partners.
- Strong written and verbal communication skills, with experience translating regulatory requirements into practical, risk-based guidance.
- Experience working in a highly regulated environment with strong governance, documentation, and audit/exam readiness expectations.
