Director of Compliance

Overview:

The Director of Compliance is responsible for overseeing and managing the bank’s regulatory compliance framework to ensure adherence to all federal and state banking laws. This role requires a strategic leader with deep expertise in financial regulations, risk management, and operational compliance. This institution operates under heightened regulatory scrutiny, necessitating robust compliance oversight.

Under the general direction of the Enterprise Risk Executives, the incumbent will be responsible for supporting all aspects of the Consumer Compliance programs and supervising subordinates to ensure the completion of all daily activities required to maintain all department functions up to date, compliant with all scheduled internal and regulatory timeframes and in line with current and emerging business needs and ERM goals. These include, but are not limited to implementing, coordinating and administering the bank's overall (non BSA/AML/OFAC) Compliance Management System which includes the Compliance Risk Management programs by ensuring that the policies, procedures and compliance review schedules remain relevant and comply with all applicable laws and regulations. In addition, the incumbent will be responsible for the ongoing oversight, strategic direction and Compliance culture of the bank and the overall timely compliance with accurate and timely reporting to the Board, any related management and Board committees, auditors and examiners. In addition the incumbent will be responsible for performing all other assignment and responsibilities assigned by the Chief Enterprise Risk Executive.

Principal Duties & Responsibilities:

• Works closely in the recruitment and selection process, such as conducting and providing feedback from interviews, recruiting within the budget, identifying opportunities for cost savings and ensuring proper departmental specifics for on-boarding.
• Provides timely feedback to employees (check-ins, reports, annual evaluations, coaching, and disciplinary action).
  

• Development of high potential employees, identifying, providing growth opportunities with training, meeting inclusion, shadowing, etc, in conjunction with the Talent, Development and Culture Department.

• Ensuring assignment and accomplishment of goals holding employees accountable, measuring results cross training, and eliciting innovation and process improvement.

• Maintaining employee motivation engagement & recognition.

• Inspiring employee commitment and integrity, modeling-cultural values and positive behaviors.

• Managing over-time control in a timely manner, within the requirements of FLSA standards.

• Ensuring, regulatory excellence in all aspects of employee responsibilities by monitoring regulatory expectation specific to each report and holding employees accountable to their specific regulatory responsibilities.

• Develop, implement, and oversee the bank’s compliance program, ensuring adherence to FDIC, OCC, Federal Reserve, and CFPB regulations.

• Creates/ updates and administers a comprehensive Compliance Management System for the Bank by establishing overall goals, objectives and schedules, and setting appropriate accountabilities.

• Creates and implements a strong change management process which identifies and interprets new and pending laws, regulations, bulletins, guidance or any other publication that potentially affect the organization’s business practices. This process should include the completion of risk analysis and development of task forces of stakeholders, in order to create an action plan to implement all required changes.

• Ensures the Bank’s policies and procedures affecting consumer compliance, are updated in response to regulatory changes, internal audits and regulatory examinations.

• Participates in new product, service, or line of business due diligence and provides management with guidance on the level of regulatory exposure applicable to the Bank and all the mitigating strategies that must be implemented in order to develop a compliant new product, service or line of business.

• Oversee internal compliance reviews and ensure corrective action plans are implemented for any identified deficiencies.

• Prepare and submit regulatory reports, ensuring accuracy and alignment with Consumer Compliance requirements.
• Ensures all of the requests for consumer regulatory documentation, for regulatory examinations, is accurate and provided in a timely basis.
• The Compliance Risk Officers, the Fair Lending Risk Analyst, and the Compliance Monitoring Manager, report to this position.
• Reports directly to the Enterprise Risk Executive and will provide ongoing reports to the Board of Directors and committees thereof, as applicable or necessary.
• As needed, report to the Board of Directors on compliance related issues as well as the adoption of new regulations/policies.
• Provides oversight and directly assists in ensuring staff are diligent in responding timely to regulatory and operational risk questions.
• Monitors and oversees the Bank’s Complaint Program as part of the Compliance Management System and reports to management and Board committees.
• In conjunction with the Bank’s Talent, Development and Culture Department, assist in establishing the Consumer Compliance training programs for Bank personnel, and coordinates efforts with the Training Department for specific training.
• Continuously evaluates the use of technology to create efficiencies in processes, programs, and reporting data.
• Assists the Chief Enterprise Risk Executive in any special tasks.

• 8-10 years experience in bank regulatory compliance, or a regulatory agency.

• Strong knowledge of federal banking laws, including, CFPB, FDIC, OCC, and Federal Reserve regulations.

• Experience working with large-scale commercial banking products, corporate lending, and institutional risk management.

• In depth knowledge of practices, principles, and inter-relationships of broad banking areas, especially in consumer compliance regulations.

• Proven ability to engage with regulatory agencies and manage compliance audits.

• Certified Regulatory Compliance Manager (CRCM) or equivalent certification preferred.

• Requires high level of skill in reading and interpreting regulatory information.

• Strong understanding of bank products and services offered to consumers, businesses, and communities.

• Excellent interpersonal skills and ability to lead in a team environment.

• Excellent oral and written communication skills.

• Strong analytical skills with high attention to detail and accuracy.

• Advanced in Microsoft Office Suite (Excel, Word, Power Point, Outlook).

• Experience building consensus, gaining buy-in and addressing complex issues within all levels of an organization.

• Ability to accurately identify the root cause of issues and develop solutions.

• Ability to multi-task assigned projects and daily workload while adhering to multiple timetables of completion.

• Bachelor's Degree in Business, Finance, Accounting or other related field of study. 
• Master's Degree in Business, Finance, Accounting or other related field of study preferred. 

• Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.
• Please view Equal Employment Opportunity Posters provided by OFCCP here.
• The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
• Reasonable accommodation may be made to assist individuals with disabilities to complete the online application process. Please contact our Human Resources Department at 305-577-7680 or by e-mail at employment@citynational.com.