What are the responsibilities and job description for the Risk Management Professional position at Midland States Bank?
About the Role
This Banking Compliance Consultant position is responsible for assisting the Compliance Officer Fintech Services in the delivery of the Compliance Management System (CMS) for Fintech partners. The successful candidate will have a strong understanding of regulatory requirements and be able to evaluate and monitor third-party vendor performance.
Key Responsibilities
- Maintain proficient knowledge of relevant federal and state laws, regulations, and guidance.
- Evaluate and monitor third-party vendor performance to ensure compliance with regulatory requirements.
- Identify and analyze risks associated with new and existing Fintech Leads, third-parties, third-party products, product channels, and significant changes in existing products.
- Ensure that BaaS partners develop and apply policies and procedures that meet our standards of integrity and comply with federal, state, and local legislation and regulations.
- Advises on potential risks and mitigation strategies in the realm of third-party relationships.
- Gather trends and analyze complaint data and event escalations from third parties, ensuring appropriate corrective actions are taken.
- Prepare internal risk assessments of individual third-party relationships.
- BUILD and maintain strong relationships with key stakeholders and team members within the bank and with third-party bank partners.
- The role requires occasional travel for training and team meetings, and willingness to travel periodically, to locations within market as needed.
- May require work in a Midland office to ensure collaboration and support of internal and external customers.
- Maintain compliance with all applicable regulations, including but not limited to, the Bank Secrecy Act (BSA).
- Other duties as assigned.
Requirements
- High School diploma or GED required; Associates degree in Finance, Business, or a related field or equivalent experience preferred.
- 2 years of demonstrated experience in banking compliance.
- Banking as a Service and Fintech experience is preferred but not required.
- Strong oral, written, and interpersonal communication skills.
- Strong organization and time management skills.
- Strong attention to detail.
- Ability to work independently and as part of a team.
