Works under the direction of the Compliance Manager. Responsible for ensuring bank compliance with applicable laws and regulations. Is a compliance generalist but serves as a wealth management, investment advisory and insurance sales activities compliance subject matter expert. Is responsible for advising on regulatory compliance matters, conducting independent second line oversight and compliance monitoring reviews, reviewing line of business compliance related work, activities and related procedures, and ensuring that the Compliance Program is appropriately implemented through participation in various committees and meetings.
1. Maintains proficient knowledge of laws, regulations, and guidelines with which the bank and its affiliates must comply. Backs up the Chief Compliance Officer, Compliance Manager and other Compliance Officers as needed. Facilitates implementation of changes required by new or amended laws and regulations, ensuring that officers and employees are properly informed of and trained in changes in laws and regulations. Assists in developing/updating procedures, forms, disclosures, letters, etc.
2. Serves as the regulatory compliance subject matter expert to line of business personnel by answering routine compliance questions. Provides research and guidance to departments regarding compliance requirements for various projects and initiatives including development or modification to products or services, marketing promotions, etc.
3. Has a strong working knowledge of laws and regulations specific to wealth management, registered investment advisory services and insurance sales activities, including but not limited to 12CFR9, state fiduciary laws and regulations and the Interagency Statement on Retail Sales of NDIP, and is able to apply that knowledge toward development and implementation of a compliance oversight program for those areas.
4. Assists with development and administration of an ongoing compliance training program for bank personnel.
5. Assists with coordination of internal compliance review and self-monitoring programs implemented within the designated lines of business and performs direct and independent compliance testing based on established compliance monitoring program requirements. Provides feedback regarding potential adjustments to policies and procedures based on compliance risk assessment, internal process changes, or as a result of deficiencies identified through independent monitoring or resulting from compliance findings or violations noted by the Internal Audit Department or regulatory agencies. Reports results of testing to the Compliance Manager and the BBI Audit & Compliance Review Committee as well as the appropriate line of business manager.
6. Reviews and approves all types of bank marketing materials. Assists and advises in compiling compliance disclosures for new products, as well as new account and advertising disclosures.
7. Is involved in various department and line of business committees and teams providing feedback and guidance related to regulatory compliance matters.
8. Researches and responds to consumer inquiries and complaints that have regulatory compliance implications.
9. Provides support between regulatory personnel and/or independent auditors and bank personnel during regulatory compliance examinations. Assists in modifying departmental procedures to address audit issues identified.
Work Experience Requirements:
- Five years of bank regulatory compliance or examination experience or five years bank auditing experience.
- Direct experience related to Wealth Management and/or Registered Investment Advisory compliance preferred.
All qualified applicants will receive consideration without regard to race, age, color, sex (including pregnancy), religion, national origin, disability, sexual orientation, gender identity, marital status, military status, genetic information, or any other status protected by applicable laws or regulations.
GPAC (Growing People and Companies) is an award-winning search firm specializing in placing quality professionals within multiple industries across the United States for the past 30 years. We are extremely competitive, client-focused and realize that our value is in our ability to deliver the right solutions at the right time.