Compliance Monitoring & Testing Manager

Summary:

Responsible for managing a team of compliance testing professionals in completing all phases of compliance testing including planning and scoping, execution, and reporting across all three testing teams (Payments, Core, BSA/AML). Provides guidance, direction and oversees the work product of the team. This may include managing a combination of Compliance employees and consulting resources providing staff augmentation.

Qualifications:

Education: Bachelor's degree.

Licenses/Certifications: CRCM, CIA, CAMS or similar professional certifications are preferred.

Experience: Ten or more years of experience in compliance testing/monitoring or audit within the financial services industry. Demonstrable knowledge of the regulatory environment and associated risks and proven experience of ensuring compliance with regulatory requirements. Previous managerial experience. Or equivalent combination of education and experience.

Essential Functions:

• Manages and oversees the Compliance Testing Program to identify and manage consumer compliance risks, including existing and emerging risks associated with the bank's products, services, and processes.
• Develops the Annual Compliance Testing and Monitoring Plan and adheres to the schedule set forth in the finalized plan.
• Maintains a working knowledge of federal regulations applicable to Payments, Core (community) bank and Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and ensures team members maintain such knowledge in their assigned areas of review.
• Engages in effective written and verbal communications, including with key business partners, external partners, and regulators, with a particular emphasis on the ability to explain complex concepts in clear and understandable terms, and the ability to draft understandable, actionable, and sustainable policies and procedures.
• Exhibits in-depth knowledge of relevant laws and regulations, including, as applicable, the Electronic Funds Transfers Act and Regulation E; the Gramm-Leach-Bliley Act, Regulation P, and applicable state privacy laws; state and federal prohibitions against unfair, deceptive or abusive acts or practices (UDAP/UDAAP) in the offering, delivery, or servicing of consumer financial products and services, including regulations and guidance issued and enforced by the CFPB; and anti-money laundering (AML) requirements, including the Bank Secrecy Act, the OFAC regulations, and other applicable sanctions screening requirements.
• Ensures issues identified from the Testing and Monitoring program are entered in the Issues Management system and monitors the status of corrective action/implementation plans to ensure they are timely and appropriately executed.
• Drafts reports to communicate the results of the testing, monitoring or reviews/audits to senior management, key stakeholders and the Board regarding the effectiveness of the processes and controls under review.
• Provides clear, concise responses to regulatory requests.
• Consults and interacts with Compliance peers, Legal, BSA/AML team, Payments team, and Senior Management on an ongoing basis.
• Mentors, coaches, and develops less experienced or new compliance colleagues to facilitate team engagement.
• Partners with HR in areas of recruitment, performance evaluation and/or discipline. Partners with HR to initiate corrective action and/or development plans, evaluate performance and develop staff members.

Knowledge/Skills/Abilities:

• The ability to communicate effectively and clearly, both in verbal and written communications.
• The ability to manage multiple deadlines in a fast-paced environment, accomplishing multiple tasks and resolving competing priorities effectively.
• Excellent attention to detail and ensuring data accuracy.
• Excellent organizational skills.
• Strong analytical skills, able to dissect complex problems and synthesize large amounts of information.
• Ability to define problems, collect data, establish facts and draw valid conclusions and support decisions with sound reasoning and detailed documentation.
• Self-directed and motivated.
• Strong team player receptive to exchange of ideas and constructive feedback.
• Interpersonal skills, able to interact with people at all levels, comfortable interacting with and presenting to all levels of management.
• Embraces and practices the highest applicable ethical standards of behavior, consistent with the Sutton Bank Service Excellence Elements.
• Working knowledge of BSA/AML, Core (community bank) and payment program regulations.
• Experience building testing and audit plans.
• Experience planning tests, drafting engagement memos, completing work papers, identifying issues and conducting root cause analysis, developing reports, validating closure of issues and reporting test results to senior management.
• Experience reviewing tester's work to ensure tests meet program requirements and are complete and accurately documented.
• Experience creating comprehensive policies and procedures.
• Experience developing reporting for senior management and the Board.
• Experience responding to regulatory requests.
• Experience building or managing a team of compliance or audit professionals, including coaching, development and formal performance evaluations.

Sutton Bank is an Equal Employment Opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, sexual orientation, gender identity, pregnancy, disability or protected veteran status.