Senior Compliance Specialist - Assurance

NEWLY CREATED ONSITE POSITION FOR THE COMPANY Position Purpose: · This position is responsible for executing compliance risk-based monitoring and testing reviews of the design and operational effectiveness of key business processes and controls' adherence to applicable laws and regulations. · Continuous monitoring activities and testing engagements are conducted to provide ongoing independent assessments of compliance with applicable regulatory requirements and internal policies & procedures. Primary Responsibilities: · Perform second line regulatory compliance monitoring and testing reviews under the established annual plan and in accordance with the Monitoring & Testing Program Policy. · Independently complete each phase of the testing cycle including planning, testing execution, vetting of findings with appropriate LOB owners, report documentation and observation follow-up tracking. · Produce high-quality monitoring plans, scope rationales, test scripts, sampling strategies, testing workpapers, findings, reports, and management responses. · Requires a working knowledge of the following laws, regulations, or business processes/controls: Fraud Monitoring/Prevention/Detection, Lending/Deposit Compliance (HMDA, CRA), Privacy & CCPA, UDAAP, Marketing Laws and Regulations, Regulation E, BSA/AML and Department of Education Rules. This list of reviews may be expanded to for purposes of FCB banking reviews. · Ability to assist leadership in the appropriate planning of testing reviews. This includes tasks such as but not limited to: Assessing all the necessary documentation needed to conduct the review, developing and maintaining LOB requests lists, determining the scope of the items to be tested during the review in line with regulatory requirements, determining sample sizes and the method and criteria for making scope selections including effective source reports to be used for these selections. · Ability to assess business process and controls that exist to support compliance including the ability to review the adequacy of LOB procedures to ensure these are comprehensive in documenting the control environment to support regulatory compliance. · Support the annual Compliance Risk Assessment process. · Ability to independently develop a test plan or enhance an existing plan to assess control effectiveness. · Timely delivery of well-developed and documented workpapers to support monitoring and testing review work, conclusions, and reports. Communication with the Regulatory Compliance Manager of any impacts to completing reviews in budgeted timeframes. · Validate potential issues for factual accuracy. · Create well developed issues to document identified control weaknesses as well as development of well written recommendations to assist management in creating corrective action plans. · Interact effectively with line of business partners during the conduct of the reviews performing tasks such as but not limited to process walk throughs (includes documenting agenda's, leading meetings and taking notes), identification and documentation of controls, vetting preliminary findings/issues, and partnership on potential recommendations to control gaps. · Participate in the process of documenting and executing on review reports. · Track and validate corrective action plan for reported findings. · Ability to work independently as well as collaboratively within the Compliance Monitoring & Testing Team and with personnel within the Compliance department. · Contribute innovative approaches and identify improvements for the Compliance Testing and Monitoring Program such as but not limited to: Developing and implementing reporting that may support and facilitate testing, creation and updating of testing scripts, creating and maintaining internal procedures and streamlining findings documentation. This includes seeking ways to gain work efficiencies in all facets of the conduct of the reviews and recommending efficiencies to the Regulatory Compliance Manager. · Assist in the preparation of material required for regulatory exams and/or internal/external audits. · Perform and participate in ad-hoc projects and duties as needed including Risk Assessment work. · Other duties as assigned. Authority, Impact, Risk: · Authority to carry out compliance monitoring and testing reviews, monitor regulatory adherence, and review financial or operational records to ensure the organization's compliance with laws and regulations. · Authority to obtain records, conduct walkthroughs, select samples, document conclusions, and escalate potential compliance violations or control weaknesses. · Maintains independence from first-line process ownership and does not design or operate the controls being tested. Key Relationships: · Managing Director - Compliance Governance & Assurance; Chief Compliance Officer; business-line control owners; Enterprise Risk Management; Internal Audit; Legal; BSA/AML; external examiners as assigned. Managerial Accountability: · No direct reports. May mentor peers and support onboarding. Working Conditions: · Ability to manage competing deadlines in a changing regulatory environment. · Ability to handle confidential information and exercise sound judgment. · Ability to communicate clearly in writing and verbally with business partners and leadership. · Occasional travel or extended hours may be required for examinations, audits, or critical matters. Time Allocation: · Review planning - 10% · Testing execution - 65% · Reporting and remediation validation - 15% · Program improvement and other duties - 10% Job Specifications: Position adheres to confidentiality policy, code of ethics and knowledge of Bank Secrecy Act and best practices and other pertinent Regulatory laws and regulations.Required: · Bachelor's degree in business, finance, accounting, economics, risk management, or a related field, or equivalent relevant experience. · Five or more years of compliance, audit, risk, regulatory examination, banking operations, or related experience. · Demonstrated ability to apply regulatory requirements, evaluate controls, use sound sampling methods, document evidence, and write defensible conclusions. · Advanced written communication, analytical judgment, organization, and Microsoft Office skills. · Ability to multitask and prioritize workflow · Problem solving skills · Demonstrated knowledge of regulations, research, data analysis, reporting, technical proficiency, communication. · Ability to function well in a high-paced and at times stressful environment. Preferred: · Certified Regulatory Compliance Manager (CRCM), Certified Compliance and Ethics Professional (CCEP), or comparable credential. · Experience with bank regulatory examinations, internal audit, issue management, and compliance technology or case-management systems. Risk Management Requirements: Understands and adheres to Workplace Policies, Code of Conduct, privacy, and information security guidelines. Understands and adheres to Anti-Money Laundering, Bank Secrecy Act, and Compliance with the USA PATRIOT Act policies and procedures, and other pertinent Regulatory laws and regulations applicable to position, completing any supporting requirements within defined timeframes. Acts within authorized limits and delegated authorities and role applicable policies and procedures. Follows processes and controls to protect shareholder interests. Mitigates risk to the bank and customers by following all applicable security procedures. Equal Opportunity Employer including Veterans/Disabilities