What are the responsibilities and job description for the Compliance Advisory Officer position at Metropolitan Commercial Bank?
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Metropolitan Commercial Bank (the "Bank") is a full-service commercial bank based in New York City. The Bank provides a broad range of business, commercial, and personal banking products and services to individuals, small businesses, private and public middle-market and corporate enterprises and institutions, municipalities, and local government entities.
Metropolitan Commercial Bank was named one of Newsweek's Best Regional Banks and Credit Unions 2024. The Bank was ranked by Independent Community Bankers of America among the top ten successful loan producers for 2023 by loan category and asset size for commercial banks with more than $1 billion in assets. Kroll affirmed a BBB (investment grade) deposit rating on January 25, 2024. For the fourth time, MCB has earned a place in the Piper Sandler Bank Sm-All Stars Class of 2024.
Metropolitan Commercial Bank operates banking centers and private client offices in Manhattan, Boro Park, Brooklyn and Great Neck on Long Island in New York State.
The Bank is a New York State chartered commercial bank, a member of the Federal Reserve System and the Federal Deposit Insurance Corporation, and an equal housing lender. The parent company of Metropolitan Commercial Bank is Metropolitan Bank Holding Corp. (NYSE: MCB).
Position Summary:
The Compliance Advisory Officer will assist the Compliance Advisory Director in conducting compliance risk monitoring, updating policies and procedures, performing annual risk assessments, and the development of appropriate practices, procedures, and internal controls to ensure compliance with applicable laws and regulations. The Compliance Advisory Officer may take on other specific Compliance department responsibilities or ad hoc initiatives to enhance the bank's Compliance Management System.
In collaboration with the Compliance Advisory Director, the Compliance Advisory Officer will help ensure business units (specifically the Retail and Operations Departments) are compliant with consumer banking regulations and fair/responsible banking laws and guidance. The Compliance Advisory Officer will help conduct consumer compliance statistical analyses and identify and address deficiencies.
This position reports directly to the Compliance Advisory Director, with exposure to the Chief Compliance Officer, as well as other departments within the Bank. Being motivated, and passionate about consumer compliance, consumer compliance protection and having an entrepreneurial spirit to accomplishing goals and the business at hand is paramount.
This individual will have the opportunity to contribute to the enhancement of the Metropolitan Commercial Bank (MCB) Consumer Compliance Program and Compliance Management System (CMS) while laying the groundwork for a scalable business.
Essential duties and responsibilities:
- With guidance and direction from the Compliance Advisory Director, perform compliance monitoring and testing as required by the Compliance Advisory Director and Compliance Monitoring & Testing team.
- Assist the Compliance Advisory Director in completing risk due diligence for new products, new initiatives, and new third-party relationships.
- Assist the Compliance Advisory Director in the review of policies, procedures, and practices to ensure compliance with federal and state consumer laws and regulations.
- Maintain up-to-date knowledge of consumer protection laws and regulations and other applicable regulations.
- Assist the Compliance Advisory Director with regulatory and audit examinations.
- Conduct regulatory research.
- Help support CMS projects and bank-wide compliance-related projects.
- Help 1st line business with development and enhancement of compliance controls.
- Demonstrate a high degree of professionalism in communication, attitude and teamwork with customers, peers and management
- Demonstrate high level of quality work, attendance, and appearance
- Adhere to all Bank Policies & Procedures and Safety Regulations
- Adhere to local, state, and federal laws
- Understand and comply with all Bank rules and regulations
- Attend training and maintain a basic knowledge of procedures to ensure compliance with laws and regulations governing financial institutions, as they apply to the role and job responsibilities, with an emphasis on the BSA/AML/CIP, Consumer Privacy, Regulation CC, Information Security, Bank Protection Act, FACT-Identity Theft, Information Technology and GLBA.
- Additional duties as assigned as they relate to the Compliance department or bank activities.
Required knowledge, skills and experience:
- Must have a minimum of five years' work experience in financial services - consumer compliance experience, a plus.
- Bachelor's degree.
- Knowledge of Consumer Compliance and related regulations. CRCM certification is a plus
- Proficiency in MS Office Suite, with strong emphasis on Excel and PowerPoint.
- Ability to conduct thorough research, interpret and understand laws and regulations and provide workable recommendations and solutions to problems.
- Excellent written and oral communication skills.
- Ability to identify, assess, and escalate compliance risks across products, services, and business units.
- Analytical mindset to evaluate controls, policies, and procedures for regulatory alignment as well as familiarity with compliance monitoring, testing, and audit processes to help remediate identified issues.
- Proactive approach to identifying compliance gaps and proposing practical solutions.
Potential Salary: $130,000 - $145,000 annually
This salary range only reflects base wages and does not include benefits, bonus, or incentive pay. Salary bands are purposefully wide ranging to encompass the different factors considered in determining where a candidate falls in the range, including but not limited to, seniority, performance, experience, education, and any other legitimate, non-discriminatory factor permitted by law.
Metropolitan Commercial Bank provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.
This applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training.
Salary : $130,000 - $145,000
