Position Summary: Responsible for developing, implementing, and administering an effective Regulatory Compliance Monitoring and Guidance function within the SmartBank Risk Management System (RMS) and Compliance Management System (CMS) frameworks. Oversee and perform periodic regulatory compliance monitoring in deposit and other compliance areas as assigned. Serves as an advisor to management primarily on regulatory compliance deposit issues, as well as Privacy, and UDAAP.
Participate in compliance solutions evaluation and testing of changes proposed by management. Evaluate and provide information for enabling the performance of all duties in accordance with the Bank's policies and procedures, and all U.S. state and federal laws and regulations wherein the Bank operates. Effectively cross-train to maintain competency in other regulatory compliance areas in addition to the assigned regulatory focus.
Major Duties and Responsibilities:- Uphold SmartBank Core Values and Core Purpose.
- Adhere to and embrace the SmartBank Way of Acting Smart, Looking Smart, and Being Smart.
- Develop collaborative relationships and build trust to facilitate regulatory compliance at all levels of the organization. Foster the environment of first line departmental quality control and monitoring. Encourage CMS requirements for departmental reporting, escalation, and resolution of compliance issues in conjunction with Compliance Department personnel.
- Appropriately administer responsibilities as part of the second line of defense in the Compliance Management System. These responsibilities include but are not limited to:
- Develop, revise, and maintain appropriate monitoring programs for evaluation of compliance, inclusive of review of adherence to regulatory requirements as well as internal risk assessments, policies, procedures. Reviews may include review of system settings, parameter changes since the last review, and similar system attributes.
- Perform compliance monitoring assignments timely, accurately, and as indicated by the Compliance Risk Assessment and as directed by the Director of Compliance.
- Identify and articulate both in writing and orally any compliance gaps, violations, and opportunities for improvement detected in monitoring or other review processes. Provide clear scope, findings, results, and facilitate compliant resolutions to issues discovered. Prepare detailed written reporting for departmental management and summary reporting for committee presentations required. Prepare and deliver succinct verbal comments regarding the testing results as required.
- Provide Risk Assessment updates as necessary at the conclusion of the monitoring process as well as assist in the overall annual compliance risk assessment process.
- Serve as subject matter expert for assigned regulatory areas of specialization.
- Keep abreast of regulatory changes inclusive of changes to laws and regulations as well as any enforcement approach.
- Evaluate lawsuit trends and other updates as necessary to assess potential compliance risk and advise management.
- Communicate regulatory changes in a clear and concise manner.
- Proactively assess changes anticipated and participate in any projects where compliance impacts are noted.
- Assist and facilitate compliance change management as necessary by providing direction and review of proposed changes inclusive of system settings and output, customer-facing materials, advertising, disclosure, notification, statements, or other documentation.
- Maintain expert-level proficiency for these and any other deposit-focused regulations: Regulation CC, Regulation E, Regulation DD, Regulation P, and UDAAP. Maintain general proficiency in all other areas of compliance.
- Assist, as assigned, in any regulatory examination, outsourced audit, consulting engagements.
- Follows all laws, regulations, policies, procedures including but not limited to those governing money laundering, information security, consumer protection, and UDAAP.
- Participates in and assists with development and/or delivery of required training in conjunction with Learning & Development.
Position Requirements and Qualifications:Education:- Bachelor's Degree preferred.
- Minimum of five (5) + years' experience in banking regulatory compliance.
Training Requirements (licenses, programs, or certificates):Knowledge, Skills, and Abilities:- Exceptional verbal, written and interpersonal communication skills with emphasis on ability to express complex and nuanced ideas and concepts clearly and logically.
- Demonstrates a strong sense of ethics and confidentiality.
- Strong problem solving, decision making, and reporting skills.
- Intermediate skills in computer terminal and personal computer operation; Microsoft Office applications including but not limited to: Word, Excel, PowerPoint, and Outlook.
- Effective organizational and time management skills including the ability to organize and prioritize work schedules on a short-term and long-term basis and in accordance with stated priorities.
- Ability to make decisions that have moderate impact on the immediate work unit and cross functional departments.
- Ability to provide consultation and expert advice to management.
- Ability to make informal and formal presentations, inside and outside the organization.
- Ability to work with little to no supervision while performing duties.
- Minimum five (5) + years of management experience preferred.
- Experience in developing fair & responsible regulatory compliance deposit programs required.
Work Conditions:- Able to routinely stand, sit, bend and stoop.
- Frequently and regularly required movements using wrists, hands, and/or fingers.
- Average, ordinary, visual acuity necessary to prepare/inspect documents or products and operate machinery.
- Ability to hear average normal conversations and receive ordinary information.
- May be required to travel to various branch locations.
- May be required to travel to training sessions.
