Represents Corporate Compliance and is responsible for partnering and collaborating with the First Line of Defense to ensure effective compliance risk management programs. Ensures all testing, reviews, documentation, and reports are in compliance with regulatory and company guidelines, policies, and procedures. Monitors and tracks findings and ensure corrective action is implemented. May assists with maintenance of the control framework and risk assessment activities.
Job Duties and Responsibilities:
- Maintains up-to-date knowledge on consumer regulatory compliance regulations.
- Partners with First Line of Defense Management to identify, analyze, and monitor for areas of emerging risk. Educates First Line of Defense Management on risks and controls, and schedules monthly meetings to ensure continual back and forth communication of risk trends, issues, self-testing processes and changes, as well as gaps identified. Ensures all regulations, risks, and supported products applicable to the First Line of Defense are identified so that testing priorities can be evaluated and established.
- Collaborates with the First Line of Defense in the execution of risk and control self-assessments (RCSA). Reviews self-testing procedures, workpapers, and/or supporting documentation completed by the First Line of Defense by performing a Valdation, using a risk based schedule, to ensure self-testing controls are designed and operate effectively.
- Assists with the development and documentation of detailed testing scripts covering regulatory requirements that should be covered by the First Line of Defense when performing periodic self-testing.
- Develops recommendations for corrective action based on validation review findings, self-identified issues escalated by the First Line of Defense, and gaps in controls or self-testing. Works with the First Line of Defense to refine recommendations. Track issues to completion and ensures corrective action has been implemented effectively and timely. Analyzes trends in risk categories and researches changes in risk metrics for reporting each quarter.
- Provides management with continuous feedback and recommendations regarding structure and processes.
- Assists in the development of regulatory compliance risk assessments to include enterprise-wide risk reporting, including aggregate risk concentrations and KRIs.
- Prepares and potentially presents reports to management regarding the status of the First Line of Defense's compliance position in areas of compliance focus and noting risk exposure where appropriate.
- Reviews a wide variety of organizational policies and procedures to ensure compliance with federal regulations and internal standards. Reviews detailed departmental processes and policies to determine deficiencies. Analyzes existing policies; identifies gaps and recommends new or revised policies and procedures, approval processes, and monitoring methods for departmental use.
- Partners with GRC Support, Enterprise Risk Management (ERM), and Consumer Compliance to identify and implement process improvements using RiskPro. Assists with the development, implementation, and maintenance of control framework in RiskPro.
- May orient, train, assign, and review work of junior team members.
- Each team member is expected to be aware of risk within their functional area. This includes observing all policies, procedures, laws, regulations, and risk limits specific to their role. Additionally, they should raise and report known or suspected violations to the appropriate Company authority in a timely fashion.
- Performs other related duties as required.
The information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Synovus is an Equal Opportunity Employer supporting diversity in the workplace.
Minimum Education: Bachelor's Degree in Business Administration, Risk Management or related discipline or an equivalent combination of education and experience
Minimum Experience: 7 (seven) years of job specific experience
Required Knowledge, Skills, & Abilities:
- Advanced knowledge and understanding of consumer regulations
- Advanced knowledge and understanding of risk assessments, including inherent risk measures, control evaluations, and control testing.
- Ability to execute in a fast paced, high demand environment while balancing multiple priorities
- Team oriented with ability to effectively interact with a wider variety of people across the footprint
- Analytical skills to identify root causes of deficiencies; summarize and apply complex regulatory requirements to current processes
- Articulate information concisely and accurately
- Ability to communicate effectively and comfortably with all levels of management; able to speak up and command presence
- Excellent verbal and written communication skills
- Advanced knowledge in Excel, Word, PowerPoint
Preferred Knowledge, Skills, & Abilities:
- Certified Regulatory Compliance Manager (CRCM) certification
- Knowledge of the elements for a Compliance Management Program (CMP) and review experience at a large financial institution or auditing company
- Solid knowledge and understanding of CMP methodologies and tools that support compliance management
- Strong analytical skills with high attention to detail and accuracy