The VP Compliance primary focus will be to create and maintain a risk-based operational compliance program for a financial services provider in the payroll industry moving in excess of $200 billion in payroll and taxes annually with emerging products related to mobile wallets, prepaid cards and other innovative payment services and to ensure full compliance with the requirements of Federal and state and legislation and regulations.
- Create, execute, and oversee a Trust regulatory compliance program for a financial services provider operating in the payroll industry moving in excess of $200 billion in payroll and taxes annually with emerging products related to mobile wallets, prepaid cards, and other innovative payment services and to ensure full compliance with the requirements of Federal and state legislation and regulations.
- Serve as Ceridian's liaison with federal and state regulators and coordinate administration of all regulatory examinations and reviews.
- Compile and present quarterly reports to the Board Audit and Risk Committee on:
- Any partner bank audits related to regulatory compliance
- Generate practical perspectives on the applicability of laws, rules, and regulations across the business and processes and how they translate into operational requirements.
- Create standards for risk materiality (for example, definition of material risk, tolerance levels, and tie to risk appetite)
- Develop and manage a robust risk identification and assessment process/tool kit (for example, comprehensive inventory of risks, objective risk-assessment scorecards, and risk-measurement methodology)
- Develop and enforce standards for an effective risk-mitigation process (for example, root-cause analysis and performance tracking) to ensure it addresses root causes of compliance issues rather than just “treating the symptoms”
- Ensure that the front line effectively applies processes and tools that have been developed by compliance
- Approve clients, transactions, and products based on predefined risk-based rules
- Understand the trust bank’s risk culture and its strengths as well as potential shortcomings
- Have and maintain a high level of knowledge and expertise in all applicable OCC and Federal Reserve regulations, directives and guidance applicable to the Trust.
- Draft and maintain relevant documentation including policies, procedures, and practices to related to Trust regulatory requirements.
- Develop, maintain and provide compliance training to adequately train key stakeholders and employees on applicable regulations and requirements.
- Establish standards for training programs and incentives tailored to the realities of each type of job or work environment
- Ensure appropriate testing and analyze key performance indicators to ensure requirements of Trust policies and programs are maintained at a level commensurate with regulatory expectations. Support root cause analysis in response to material control failures in line(s) of business
- Validate that issues identified through compliance monitoring and review processes are promptly addressed. Ensure that management remediation plans are adequate
- Review all new and proposed products and transaction types to ensure compliance with all applicable regulations and requirements.
- Anticipate and plan for changes in the compliance and regulatory environment through completion of annual Compliance Risk Assessments.
- BA/BS degree Required
- Advanced degree (JD, MBA) a plus
- 5-15 years of experience in a compliance role with banking institutions on regulatory matters
- AML and BSA experience required
- Certified Regulatory Compliance Manager (CRCM) preferred
- Advanced certifications a plus: Certified in Risk and Information Systems Control (CRISC), Certified in Governance of Enterprise IT (CGEIT), or Information Technology Infrastructure Library (ITIL)
- Knowledge of relevant trust and banking laws
- Exceptional interpersonal skills and superior judgment
- Outstanding communication and presentation skills
- Ability to accept accountability, assume proactive leadership, demonstrate initiative, and lead by example in teamwork, cross-unit co-operation, information sharing.
- Analytical and project management skills, highly organized with the ability to handle multiple tasks and multiple priorities simultaneously
- Possess excellent organizational skills with the flexibility to readily adapt to change
- An ability to influence senior business leaders on all compliance risk-related matters affecting the business. The individual should have the ability to independently challenge, when needed, while at the same time being supportive and solution based.
Ceridian is fueled by the diversity of our talented employees. We are an equal opportunity employer and consider and embrace ALL individuals and what makes them unique. We believe our employees should be happy and healthy, with peace of mind and a sense of fulfillment. We provide our employees with comprehensive benefits for various life circumstances and needs, great opportunities for career development, and a balanced lifestyle to achieve personal and professional success.
We encourage all individuals to apply for positions that fit their passions.