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AVP - Bank Compliance Testing

Company: First Electronic Bank
Location: Salt Lake City
Posted on: May 15, 2022

Job Description:

Job DescriptionSalary: Job purpose As Second Line of Defense, the AVP - Bank Compliance Testing has the responsibility to both lead and individually perform compliance testing to evaluate our Strategic Partner's (SP) compliance with applicable laws and regulatory requirements. This individual will need to ensure the Bank Compliance Testing team plan & scope each review based upon the risk for each SP, produce quality detailed work papers, prepare succinct reports, and credibly challenge the adequacy and effectiveness of corrective action plans. The candidate must have a strong working knowledge of FDIC and CFPB Exam Procedures. The candidate must have strong communication skills and demonstrate a record of accomplishment and excellence in delivery. Duties and responsibilities

  • Oversee a risk-based framework for the Bank Compliance Testing program.
  • Strong understanding of Regulatory Risk Assessments, Fair Lending Risk Assessments and UDAP Risk Assessments, which drives the development of the Bank Compliance Testing Plan and scope.
  • Participate in conducting Compliance testing and monitoring of lending regulations to include, but not limited to: UDAAP, BSA, Fair Lending, TILA, FCRA/FACTA, SCRA, MLA, FDCPA and TCPA
  • Participate in conducting Compliance testing and monitoring of deposit regulations to include, but not limited to: TISA, EFTA, EFAA, FDIC Deposit Insurance, Debit Card Interchange Rule, and Garnishments.
  • Strong working knowledge FIL 44-2008, Guidance for Managing Third Party Risk.
  • Conduct fair lending reviews using the FFIEC Interagency Fair Lending Exam Manual
  • Report identified findings to the appropriate Compliance Manager/Compliance Officer and assist in determining appropriate corrective action
  • Follow-up and validate corrective action plans to ensure issues are addressed appropriately.
  • Produce reports for the Chief Compliance Officer and/or Bank's Compliance & Risk Committee. Present to the Compliance & Risk Committee and Board of Directors as may be necessary.
  • Assist with providing requested documentation, information or reports as directed for internal Audits or Regulatory Examinations
  • Monitor and stay abreast of federal/state consumer and commercial lending laws and regulations, as well as industry trends, and communicate changes to Bank and SPM.
  • Complete additional projects and duties as directed Qualifications Minimum qualifications
    • Bachelor's degree
    • 6+ years in Compliance testing experience
    • 10+ years in financial institution in Compliance or Risk Management role
    • Advance knowledge of regulatory knowledge of consumer protection laws and regulations around deposits, credit card, installment loans and open-end credit
      • Knowledge and experience in performing internal control reviews, quality assessments or Compliance or Audit testing
        • Ability to understand operations and banking policies and procedures
          • Ability to convey ideas and thoughts clearly in writing and verbally
            • Strong problem solver
              • Ability to determine best course of action/make sound recommendations for correction of testing/monitoring findings Preferred qualifications
                • Certified Regulatory Compliance Manager (CRCM)
                • Experience in working with Fintech partnerships Working conditions Hybrid working options for mix of in-person and remote working. Physical requirements While performing the duties of this job, the employee is regularly required to talk or hear. The employee is frequently required to stand; walk; use hands to finger, handle or feel; and reach with hands and arms. Other Duties Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice. Direct reports
                  • Senior Associates
                  • Compliance Analysts

Keywords: First Electronic Bank, Salt Lake City , AVP - Bank Compliance Testing, Other , Salt Lake City, Utah

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