Full-Time VP Compliance Analyst III (Req#1446)
Job Description
Eastern’s Compliance group administers consumer compliance policies and implements department specific compliance programs. Also administers Compliance related training, performs product based and regulation specific reviews and analyzes consumer complaints to prevent “Unfair, Deceptive, or Abusive Acts or Practices” (UDAAP) and other regulatory violations.
The primary function of the VP Compliance Officer is to lead product reviews and regulation reviews to ensure the bank is in compliance with applicable state and federal consumer protection laws and regulations. This position is an integral component of the bank’s Compliance Management System which is designed to ensure overall compliance with regulation, minimize the potential of regulatory penalties and fines and minimize any negative impact to the bank’s reputation resulting from non-compliance with regulatory requirements. This individual works closely with the Compliance Administrators throughout the organization and internal General Counsel to provide direction regarding compliance. In addition, they act in a consulting capacity to provide guidance on process efficiency and effectiveness. This individual will also support the enterprise risk management function as it pertains to the New Product Risk Assessment, advertising reviews, and integrating compliance risk into the bank’s enterprise risk management framework.
Major responsibilities:
- Lead comprehensive product-based and regulation-centric reviews to determine business line compliance with applicable consumer protection laws and regulations and oversee the assigned team members. The Lead designs procedures to be utilized during reviews and makes recommendations regarding the scope of the review, frequency, and staffing needs.
- Act as a liaison to provide first line consulting and guidance to departments on compliance and risk related questions through:
- Formal opinion
- Procedure review
- Compliance Program oversight
- Self-testing monitoring
- Business line Risk Assessments
- Training recommendations
- Conduct adherence reviews
- Other Projects as assigned (e.g., participation in ERM Director-driven initiatives, larger scale cross-departmental projects, new products, and services, etc.)
- Monitor open findings and ensure timely completion of remediation plans
- Prepare analyses and formal interpretations of newly issued, amended, or proposed regulation for reliance upon by various levels of bank management. The analysis process includes an assessment of management’s compliance action steps and the providing of additional recommendations.
- The role has an expectation that the ideal candidate to be a self-starter working under minimal supervision. Be able contribute positively in a team environment. This individual will be accountable for making decisions appropriate for their position and level. This individual will be expected to identify when additional guidance from general counsel is needed and escalate to the Senior Compliance Officer and Chief Compliance Officer.
Education and Experience:
- Bachelor’s Degree from an accredited college or university
- 5+ years compliance or other related experience
- Proven project management skills
- CRCM preferred
- Juris Doctor or other advanced degree preferred
- Banking and/or regulatory experience is preferred
Skills and Knowledge:
- Ability to apply technical regulatory compliance concepts to a business setting.
- Knowledge of general banking operations is preferred.
- Ability to act on strategic initiatives
- Self-starter with ability to work under minimal supervision
- Effective conflict management skills and proven ability to enact change
- Ability to develop business partnerships at the senior management level
- Effective written and oral communications
- Analytical skills
Working Conditions:
How to Apply
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