Compliance Officer

Job Description:

The Compliance Officer will be responsible for leading Evolve Bank & Trust’s compliance oversight for specified business lines. Responsibilities include monitoring, governance, oversight and regulatory reporting activities related to the payment processing functions. This position will collaborate and work closely with cross-functional stakeholders, including but not limited to, Legal, Finance, Internal Audit, Marketing, Product Development and Operations. The responsibilities will include creating an innovative and scalable compliance management system and processes for oversight of the business line's functions. The position will be responsible for ensuring that compliance policies, internal controls, and systems are functioning in an effective and efficient manner. The position will work closely with various Compliance and BSA team members to manage the Bank’s overall compliance risk relating to Open Banking and other business lines as assigned.

Main Job Tasks and Responsibilities:

• Build and scale monitoring programs across business functions. Develop, administer and monitor a program that ensures the Bank’s compliance with all Open Banking regulations and rules governing Open Banking.
• Operationalize regulatory requirements
• Serve as a trusted compliance advisor/partner to both internal and external stakeholders
• 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, products
• Review operational procedures and methods and recommend changes for improvement with an emphasis on automation and efficiency
• Function as the liaison between the business line, operations, and the technical areas and the compliance function to ensure appropriate risk oversight.
• Understand applicable BSA regulatory landscape and compliance requirements; with emphasis on AML requirements, customer identification procedures, due diligence best practice, and sanction screening 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
• Work with the BSA/AML Officer to identify and address BSA/KYC/onboarding training needs
• Analyze high risk counterparties, reputational risks, and politically exposed persons (“PEP”)
• Assist in the development, implementation, and periodic performance of key controls.
• Analysis of KYC products to ensure all appropriate customer documentation is on file in accordance with internal and external guidelines.
• Work with internal and external partners to establish tailored BSA programs that include mutually acceptable modifications of standard policies & procedure, KYC templates, transactions limits, and suspicious or unusual activity monitoring
• Maintain the Bank’s compliance library, utilizing current technology whenever possible.
• Draft comment letters regarding proposed regulatory changes affecting Payment Processing.
• Serve as an in-house expert to provide compliance advice and guidance to all Bank staff, addressing any compliance questions. Working with the Marketing Officer and other staff with development of new products and/or delivery systems, or modifying existing ones, to identify any compliance relates issues
• Oversee Open Banking related communication and ensure such communication is comprehensive, accessible, current and appropriate for all employees.
• Ensure practices are being followed through internal audit process, reporting, and continued monitoring occurs.

Education and Experience:

• Bachelor’s Degree or above.
• Experience in Banking Compliance with strong background in Payment Processing regulations.
• Experience with implementing a strong compliance management system
• Strong knowledge of consumer compliance regulations including Regulation B, Regulation E, Regulation DD, Regulation Z, and UDAAP.
• Strong Knowledge of BSA, OFAC, including requirements for KYC, EDD and monitoring
• Focus on customer service to both external and internal customers.
• Skilled with Microsoft Word, Excel, Outlook and related software applications.

Key Competencies:

• Good verbal and written communication skills.
• Well organized; ability to multi task; 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.