Corporate Compliance Assurance Manager

United States·Suffolkmid

OtherManager

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Quick Summary

Key Responsibilities

Compliance Assurance Program Management Develop, manage and submit for approval Towne’s risk-based compliance testing schedule, based on applicable laws, regulations, products, services,

Requirements Summary

Compliance Assurance Program Management Develop, manage and submit for approval Towne’s risk-based compliance testing schedule, based on applicable laws, regulations, products, services,

Technical Tools

OtherManager

Requirements

~1 min read

Express or exchange ideas in writing and orally.
Exert up to 10 pounds of force occasionally, use your arms and legs, and sit most of the time.
Have close visual acuity to perform activities such as analyzing data, viewing a computer terminal, reading, and preparing documentation.
Not substantially exposed to adverse environmental conditions.
The physical demands described here are representative of those that must be met by an employee to perform the essential responsibilities of this job successfully. Reasonable accommodations may be made to enable individuals with disabilities to perform essential responsibilities.

Responsibilities

~3 min read

→Compliance Assurance Program Management
- →Develop, manage and submit for approval Towne’s risk-based compliance testing schedule, based on applicable laws, regulations, products, services, leadership direction, and business processes.
- →Ensure compliance testing methodologies, workpapers, sampling techniques, and reporting practices align with regulatory expectations, Towne’s procedures, and best practices.
- →Evaluate the effectiveness of controls designed to mitigate compliance risk and identify opportunities for improvement
→Effectively train, manage, and oversee Compliance Assurance Program direct report team members.
- →Establish performance expectations, goals, and development plans.
- →Set clear objectives and parameters for assurance activities and ensure that the team members understand the scope of what they are testing or monitoring along with related controls being tested and risks at issue.
- →Review testing workpapers, findings, and reports to ensure accuracy, completeness, and adherence to Department procedures and expectations.
- →Take the lead in demonstrating how the Compliance Assurance Program team should interact with the Line of Business (LOB) in person, over the telephone, and in writing, when it comes to understanding, communicating, and reviewing regulatory risks, and confirming with the LOB observations identified in testing and how to document issues that may arise in both work papers and reports to the LOB or management.
- →Foster a culture of accountability, collaboration, and continuous education.
- →Effectively allocate and manage resources and prioritize testing activities based on regulatory risk, management direction and Towne’s objectives.
→Escalate any performance issues promptly.
- →Ensure timely completion of the annual plan by reporting specific testing/monitoring production/performance issues impacting workflow that are in or out of the team’s control as soon as practicably possible to allow for management involvement.
- →Own and maintain the regulatory compliance testing procedures.
- →Ensure the timely validation of corrective actions.
- →Promote consistency, quality, and efficiency across all compliance assurance activities.
- →Ensure testing conclusions are well-supported, clearly documented, and meet regulatory and internal quality standards.
→Issue Management and Reporting
- →Oversee and ensure control deficiencies are accurately documented, and report regulatory gaps and potential violations.
- →Evaluate issue severity, root cause, and regulatory impact in accordance with Towne’s and Department’s issue management framework.
- →Prepare clear, concise, and accurate reports and executive summaries for Regulatory Compliance leadership, senior management, and regulators about:
- →Assurance results, trends, root cause, key risk indicators, and emerging risks; and Issue remediation status and aging.
→Oversee and ensure the Regulatory Compliance Risk Assessment is updated with results of assurance activities.
→Stakeholder Engagement
- →Oversee and ensure the Compliance Assurance Program team’s partnership with Compliance Advisory on testing activities.
- →Support the Director of CMS Operations’ engagement with Business Lines, Risk Management, Internal Audit, and other partners across Towne’s enterprise
- →Oversee and ensure the communication of testing expectations, findings, and remediation requirements effectively and professionally.
→Work on special projects as assigned by the Director of CMS Operations. Special projects may include preparing for bank regulatory agency exams and internal audits and responding to related requests
→Adheres to applicable federal laws, rules, and regulations including those related to Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA).
→Performs other duties as required or assigned which are reasonably within the scope of the duties in this job classification.

Requires excellent written and oral communication skills, an eye for detail, and computer proficiency.
Ability to work independently in a fast-paced environment, juggling multiple priorities, and demonstrate a track record of completing work in a timely organized fashion.
Excellent interpersonal skills with the ability to develop and maintain working relations with the line of business managers and staff and to work collaboratively with people at all levels of the organization.
Ability to interact effectively with all levels of management and present risk information to small and large groups.
Requires excellent research and comprehension skills.
Bachelor’s degree in business, finance, accounting, risk management, or a related field.
8 or more years of experience in compliance testing, compliance risk management, or audit.
5 or more years of experience successfully managing compliance professionals.
Strong knowledge of U.S. banking laws and regulations applicable to mid-sized banks or larger.
Demonstrated experience designing or executing risk-based compliance testing programs.
Proficiency in Microsoft office applications.

Prior experience supporting regulatory examinations (OCC, FRB, FDIC, CFPB, state banking regulators).
Experience using Artificial Intelligence to complete compliance related tasks effectively and responsibly.
Experience with governance risk and compliance or auditing software.
An applicable professional certification, such as Certified Regulatory Compliance Manager.