Compliance Monitoring and Testing Administrator

Summary:

The Compliance Monitoring & Testing Administrator will be responsible for establishing, leading, and executing a comprehensive second line compliance monitoring and testing function. This role ensures the bank adheres to applicable laws, regulations, and internal policies while proactively identifying and mitigating compliance risks.  The ideal candidate will develop frameworks, methodologies, and tools to provide independent assurance of compliance effectiveness and collaborate with stakeholders to enhance the bank’s compliance posture. This role shall report to the bank’s SVP/Compliance Officer. 

Key Responsibilities

1. Program Development
2. 1. Design and implement a robust compliance monitoring and testing framework aligned with regulatory expectations.
   2. Establish risk-based testing methodologies to prioritize focus areas based on regulatory, operational and strategic risks.
   3. Develop procedures, standards and templates for compliance monitoring and testing.
   4. Maintain and update the compliance monitoring and testing schedule.
   5. Develop a standardized template for reporting monitoring and testing activities.
3. Execution and Oversight
4. 1. Plan, execute and report on compliance monitoring and testing reviews across all applicable regulations (e.g., deposit-related consumer protection regulations, lending-related consumer protection regulations, Fair Lending, CRA, HMDA, etc.).
   2. Identify gaps or weaknesses in the bank’s compliance programs and recommend corrective actions.
   3. Perform root cause analysis and monitor the resolution of compliance issues.
   4. Enter identified issues into the bank’s issue management system of record.
5. Stakeholder Collaboration
6. 1. Act as a trusted liaison between the 1^st and 3^rd lines of defense on compliance monitoring and testing matters.
   2. Partner with business units and the 1^st line to ensure effective implementation of corrective action plans.
   3. Serve as a liaison with regulatory agencies and auditors during examinations or audits, specific to the 2^nd line compliance monitoring and testing function. 
7. Reporting and Communication
8. 1. Develop and deliver regular compliance monitoring and testing reports to executive leadership, the Board of Directors, and other stakeholders.
   2. Provide meaningful insights and trends on compliance risks, monitoring outcomes, and control effectiveness.
9. Regulatory Awareness and Best Practices
10. 1. Stay updated on regulatory changes, enforcement actions, and industry best practices to ensure the bank’s compliance program remains current and effective.
    2. Educate and train internal teams on emerging compliance risks and 2^nd line testing expectations and results.

Qualifications

• Bachelor’s degree in finance, accounting, business administration or related field.
• Relevant certifications is preferred but not required.
• Minimum 5-10 years of compliance, audit or risk management experience in the financial services industry, with a strong focus on monitoring and testing.
• Deep understanding of US banking regulations and compliance frameworks.
• Proven track record of building and executing testing programs.
• Strong analytical, problem-solving and project management skills.
• Excellent communication and presentation skills for diverse audiences, including senior executives and regulators
• Proficiency in commonly used analytical tools

Key Competencies

• Strategic thinking and ability to implement long-term initiatives
• High attention to detail and commitment to quality assurance.
• Strong ethical judgment and the ability to handle confidential matters.
• Ability to manage competing priorities.

Physical Demands:  The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is required to use hands and fingers to operate office equipment, telephones, etc.  The employee must occasionally lift and/or move up to 10 pounds.  Specific vision abilities required by this job include close vision, and ability to adjust focus.

Work Environment:  The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job.  The noise level in the work environment is usually moderate.

Equal Opportunity Employer, including disability and protected veteran status.