Purpose: Reporting to the Chief Compliance Officer, the Regulatory Compliance Testing Manager will have overall responsibility for managing and overseeing the compliance testing team. The successful candidate will ensure that the operations of the Compliance Testing Team partners with a line of business partners and comply with all federal and state banking laws and regulations related to regulatory compliance. The Compliance Testing Manager will be responsible for developing, implementing, and maintaining testing systems and processes to ensure ongoing compliance of Deposit and Lending products.
Essential Functions:
Serve as a key strategic advisor, the Regulatory Compliance Testing Manager will collaborate and communicate directly with business leaders across the enterprise to effectively manage compliance risks while advancing corporate goals and objectives.
Develop, manage, and support multiple risk and control testing programs for the Bank’s business units and reporting that provide risk management consistency and excellence.
Supports the development, implementation, and administration of Bank policies, programs to establish controls, and compliance requirements to mitigate risk.
Develop and coordinate compliance testing of various Lines of Business compliance related functions to ensure the organization remains in compliance with applicable laws, regulations, and rules.
Provide compliance testing training to staff and partners to ensure that they understand their obligations under relevant regulations.
Develop and maintain compliance testing policies and procedures. These policies and procedures should address the regulatory environment and be communicated to all relevant stakeholders.
Perform reviews of various processes to identify regulatory compliance risk, and testing controls to ensure they adequately mitigate the risk.
Conduct research as needed to support regulatory findings/controls to resolve any areas of concern. Recommend and lead solutions to address issue.
Document testing performed by establishing and maintaining comprehensive work papers and report the results of testing, ensuring such reports clearly describe the testing scope, findings, including violations and weaknesses, recommendation for corrective action, procedural or process observations, and the ability to report information to all relevant stakeholders.
Participate in the oversight of Regulatory Compliance audit and/or examinations from internal and external partners.
Provide coaching and feedback to team .
Stay updated on all financial regulations applicable to a successful testing program. Monitor the industry for changes in regulations and ensure that the Line of Business operations are compliant.
Prepare regulatory reports and filings as required.
Develop and implement incident response plans to address and report any compliance breaches or other emergencies promptly.
Fulfill responsibilities with professionalism, respect for others, in accordance with the organization’s policies and applicable laws.
Champion and execute process improvement recommendations that help to improve effectiveness and efficiencies of business units in mitigating compliance risk.
Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of HEART in every facet of work.
Job Related Qualifications:
Required:
Education: Bachelor’s Degree in Business, Finance, Law, or a related field
Prior Experience: 5+ years experience as a compliance officer or related field. Understanding of and experience applying regulations governing Community Banks.
Competencies:
Strong knowledge of regulatory compliance, risk management processes, and issue management.
Experience conducting compliance risk assessments and compliance testing activities.
Extensive knowledge of financial institution policies and procedures.
Extensive ability to read, analyze and interpret government regulations, trade journals and legal documents.
Must be able to respond to common inquiries from regulatory agencies, courts, and outside consultants.
Strong verbal and written communication skills and ability to interact positively with a wide variety of individuals; proven ability to work with senior management to solve complex problems.
Strong experience level with all Microsoft Office applications including the ability to learn new and existing banking software.
Some periodic travel (approximately 25% travel).
Physical Requirements:
Able to regularly sit for prolonged periods of time.
Able to travel:
Frequently
Extensive computer usage is required.
Ability to work:
Evenings
Occasionally
Weekends
Occasionally
Benefits:
Medical, Dental, and Vision Insurance
Health Savings Account
Flexible Spending Account(s)
Company Paid Life Insurance, Long Term Disability, and Short Term Disability
This job description is not exhaustive. The Regulatory Compliance Testing Manager may be required to perform other duties as assigned. The expected rate of pay for this position is shown above. Compensation offers are based on a wide range of factors including relevant skills, training, experience, education and, where applicable, licenses or certifications obtained. Market and organizational factors are also considered. In addition to your base rate of pay and a competitive benefits package, successful candidates may be eligible to receive cash or equity-based incentives based on the role and performance.
