Job Summary & Responsibilities
BUSINESS UNIT OVERVIEW
The ECC Bank Compliance team provides compliance coverage and support to the Bank and establishes the framework for identifying, assessing, controlling, measuring, monitoring and reporting compliance risks across the Bank. ECC Bank Compliance is an independent control function that reports to the head of Bank Holding Company Compliance, a group within ECC Global Compliance.
The primary objective of ECC Bank Compliance is the management of compliance risk by assisting Bank businesses in complying with laws, regulations and internal policies and procedures. The objective is executed through a comprehensive program that includes policies and procedures, risk assessments, surveillance, monitoring and testing, training, and management reporting.
ECC Bank Compliance works closely with the Business, Operations and Technology, as well as other groups within the Firm, in the development, maintenance, and enhancement of surveillance and monitoring controls.
RESPONSIBILITIES
The role of the Securities-Based Lending Compliance Officer is to build and promote a strong compliance program that ensures ongoing compliance with regulations and firm policies governing securities-based lending to clients of the firm and clients of third-party broker dealers.
The Compliance Officer will work closely with colleagues in ECC Bank Compliance and Bank Holding Company Compliance to execute the compliance risk management program as described below.
Regulatory Compliance:
• Implement controls to ensure compliance with federal regulations and state laws applicable to securities-based lending activity, including Regulation B, Regulation O, Regulation U, Regulation W, Information Privacy, and other relevant regulatory requirements
• Monitor pending federal and state legislation related to lending that is applicable to securities-based lending. Communicate status of relevant pending legislation and enacted legislation pertaining to business operations and coordinate the implementation of such legislation with operations, systems and support departments
• Maintain compliance-related policies and procedures
• Work closely with business on complaint management, to ensure appropriate and timely customer response, and accurate and comprehensive management reporting.
• Provide technical regulatory advisory related to securities-based lending
• Provide timely compliance advice to business on the applicability of regulations impacting transactions
• Conduct reviews of disclosure, marketing and presentation materials
• Provide due diligence and monitoring support for external counterparty relationships
• Actively partner with business on all initiatives
• Assess training needs, develop and conduct training on the applicability of compliance laws and regulations
• Track and monitor servicing vendor's compliance with regulations
• Conduct Quality Control Reviews and Risk Assessments
• Complete special projects as requested by management
Basic Qualifications
• Minimum - Bachelor's Degree
• At least 8 years of prior experience in bank compliance, audit or other control function, or experience as a Bank regulator
• Strong knowledge of banking regulations related to deposit products
SKILLS
• Proactive in identifying risks and proposing creative solutions
• Demonstrate ability to appropriately exercise judgment and decision-making in a collaborative consensus-driven environment
• Excellent written/verbal communication skills
• Ability to handle multiple tasks simultaneously and work under tight deadlines
• Highly motivated, reliable, and accountability
• Good team player - one who is able to prioritize in a fast moving, constantly changing environment
• Ability to work with a range of senior managers, peers and junior colleagues and build smooth working relationships
• Strong project management, analytical, and functional skills
• Strong analytical and problem-solving skills with the ability to exercise sound and balanced judgment
