The Senior Compliance Specialist performs a key risk management role in the bank’ second line of defense supporting the three lines of defense model through effective risk management. This role will help ensure lines of business processes comply with applicable laws and regulations. Working within the bank’s Compliance Management Program, the Senior Compliance Specialist is responsible for delivering quality results while regularly connecting with and maintaining relationships with the line of business management.
Advise lines of business on Compliance requirements for new products, process development, development of controls and monitoring, remediation/corrective action of compliance breakdowns, and change in law or regulation.
Assist lines of business in the development and maintenance of their compliance control environment, such as how to monitor, report, and train.
Support lines of business through expert advice, influence adjustments to the processes, procedures, and controls to improve control design and operation.
Actively improve compliance control design or operation through guidance, advice, and effective challenge.
Assist the Compliance Officer in developing and executing the Compliance monitoring program by:
Performing compliance monitoring reviews with limited supervision by assessing key risks and evaluating associated control design and effectiveness.
Maintaining communication with the lines of business throughout review activity, including developing a planning memo to outline review activity timing,
Completing all required documentation (process narratives, flow charts, and sampling rationale documents as well as other monitoring related material) that support the work performed in accordance with methodology requirements,
Communicating monitoring results to Compliance Officer for review as well as presenting results to business management both verbally and through written Compliance Monitoring reports,
Developing monitoring results draft reports, with minimal oversight or editing by:
Clearly communicating issues with lines of business,
Identify the root cause for violation of federal regulatory law and Acts, regulation policy and/or internal control deficiencies.
Recommends ratings for both issues and reports based on the work performed taking into account the risk presented to the bank if applicable.
Maintain expert understanding of Compliance Risk Management Framework and applicable laws and regulations.
Provide guidance on compliance risks and support lines of business through various interactions and effective challenge.
Build relationships with peers and lines of business to enable partnership and collaboration.
Assist with the annual Risk Assessment process under direction of Compliance Officer.
Assist with developing and maintaining Compliance Monitoring Procedures.
Assist with FNBA Compliance Training Program including assignment of courses and reporting results to management.
Identify and present suggestions for process improvements to lines of business and the Compliance Officer.
Identify and present opportunities to update the Compliance Monitoring plan based on changes in business activity or other events.
Assist in complaint management process by reviewing inquiries and complaints generated from lines of business. Provide guidance on complaint remediation, escalate and facilitate with subject matter experts, when necessary.
Identify trends in data and advise on identified emerging risks.
Maintain subject matter expertise of applicable laws and regulations
Live the Bank’s Culture Statement and practice with a “Servant’s Heart”
Minimum 5 years banking or regulatory agency experience with an emphasis on compliance
Strong judgement and critical thinking skills
Attention to detail and accuracy
Familiarity in navigating compliance resources
Well organized with the ability to manage multiple tasks and work to time sensitive deadlines.
Excellent oral and written communication skills
Provides communication on research results concisely and clearly with a high level of precision
Knowledge of compliance testing and monitoring methods.
Proficient understanding of banking laws and regulations relevant to the areas of bank business.
Has achieved Certified Regulatory Compliance Manager (CRCM) certification
Work Environment: Position will often be in a busy office environment. The ability to multitask and focus in this environment is essential.
Job Type: Full-time
Location: East Lansing, MI
Note: These statements are intended to describe the general nature and level of work involved for this job. It is not an exhaustive list of all responsibilities, duties, and skills required for this job.
First National Bank of America is an Equal Opportunity Employer.
About First National Bank of America
First National Bank of America is still a private, family owned company. We're unusual in the way that we do business, meaning that no one else in the industry does what we do. We offer our customers exceptional rates on deposit accounts, we purchase notes and we lend in the Non-QM mortgage space. We take pride in all facets of our business and believe that little things add up to big differences. At First National Bank of America, we strive to provide exceptional service to all our customers.