Job Description:
The Compliance Quality Assurance Specialist performs monitoring and testing on third-party payment providers and fintech compliance programs for compliance with laws, regulations and rules governing Open Banking. Ensure management is continuously informed of all aspects of the Bank's Open Banking compliance risk.This position will be responsible for the monitoring and testing of Open Banking partners compliance programs including transactions, policies and procedures, and current processes.
Main Job Tasks and Responsibilities:

• Operationalize regulatory requirements.
• Performing ongoing due diligence of third parties including compliance risk assessments, transactional testing, marketing compliance reviews, and evaluation of compliance management programs.
• Stay up to date on developing trends in the financial services industry.
• Promote a "culture of compliance" to ensure efficient and effective risk and compliance management practices by adhering to required standards and processes.
• Understand business, regulatory compliance and BSA/AML requirements for payment processors including MSBs and ensure functions are being performed within those requirements.
• Participate in the development of technological enhancements.
• Possess strong knowledge of the business line, including the business plan and products.
• Review operational procedures and methods and recommend changes for improvement with an emphasis on automation and efficiency.
• Function as the liaison between third parties, business lines, operations, and the technical areas and the compliance function to ensure appropriate risk oversight.
• Understand applicable BSA regulatory landscape and compliance requirements
• Maintain up to date knowledge on regulatory changes and landscape.
• Extensive experience with digital-only banking environments including mobile-only or mobile first banking.
• Liaise with all relevant business partners, both internally and externally.
• Stay current with evolving trends of establishing identity in a digital environment.
• Assist in the development, implementation, and periodic performance of key controls.
• Maintain the Open Banking compliance library, utilizing current technology whenever possible.
• Manage ad-hoc projects, as required.

Education and Experience:

• Bachelor's Degree or above.
• Minimum of 7 years' experience of Open Banking (Banking as a Service) Compliance and/or financial services audit, operations experience or equivalent.
• Experience operating and contributing to a strong compliance management system/program
• Strong knowledge of consumer and general compliance regulations including Regulation B, Regulation E, Regulation DD, Regulation Z, and UDAAP.
• Knowledge of BSA, OFAC, including requirements for KYC, EDD and monitoring
• Understanding of sampling methodologies and due diligence.
• Prior Quality Assurance experience, a plus.
• Skilled with Microsoft Word, Excel, Outlook and related software applications.
• CRCM a Plus.

Key Competencies:

• Must have the ability to work effectively and independently
• Good verbal and written communication skills.
• Well organized; ability to multitask; attention to detail.
• Ability to prioritize and work well under pressure and in a fast-paced environment.
• Must be able to work in a team environment and adapt to change.
• Ability to manage multiple projects and deadlines simultaneously in a fast-paced, high production, professional environment.
• Excellent problem-solving skills.

Remote work available.