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Consumer & Community Banking Compliance Controls & Practices

Req #: 180014418
Location: Jersey City, NJ, US
Job Category: Compliance
Job Description:
Consumer & Community Banking (CCB) Compliance plays a critical role in the successful execution of the firm’s Compliance mission. The Compliance function ensures the development and maintenance of a strong compliance culture by working closely with the business, legal, risk, and audit functions to provide expertise on regulatory compliance matters. The Compliance function also develops and maintains practices to identify, measure, manage, and control compliance risks and advises, monitors and tests the adequacy of the firm’s compliance control environment.
 
CCB Controls & Practices partners with Global Compliance and Global Oversight & Controls to design and implement Core compliance practices to be applied across CCB Compliance. Such practices include enhancing and implementing a consistent approach and framework for Governance & Oversight, Policies & Procedures, Training & Awareness, Monitoring & Testing, Risk Assessment and Reporting, Issue Management and Risk and Control Self Assessment (RCSA) activities. The team, in partnership with Chief Compliance Officers and their teams will drive the design and implementation of CCB’s compliance practices and provide oversight for effective execution.
 
Position Description
This role provides the opportunity to participate in the development of a best in class Compliance Controls & Practices function with the responsibility for advising, guiding, and supporting CCB Compliance Teams on existing practices and standards. The primary objectives of the Function are to help ensure the execution of high quality and consistent CCB Compliance Monitoring program. The role will manage the end to end monitoring governance program for CCB Compliance, assist in the analysis of the quality of core practices execution and will develop and implement recommendations, guidance and training on best practices to continually enhance the effectiveness of execution and standards of such practices.  The role will also partner with other 2nd Line of Defense Risk teams to complete governance activities and assessments to comply with Heightened Standards requirements.
 
Responsibilities
  • Oversee the end-to-end CCB Compliance Monitoring program
  • Coordinate development of Annual Compliance Monitoring Plans including risk and Legal Obligation coverage
  • Develop and publish monitoring reporting to senior CCB Compliance management
  • Oversee plan changes and confirm appropriate change management procedure and rationale is incorporated in the approval 
  • Periodically reviews monitoring documentation and share best practices
  • Coordinate Monitoring Program with Global Compliance Practices Monitoring team and attend Global Compliance M&T forums for CCB Compliance monitoring
  • Organize timely escalation  and reporting of monitoring issues
  • Coordinate Issue follow-up validation for High and Medium severity Compliance identified issues
  • Lead the CCB Compliance Monitoring forums monthly/weekly
  • Assist with CATTS and other compliance monitoring system related requests and projects
  • Effectively communicate with senior CCB Compliance management regarding progress and health of the monitoring program
  • Engage with 2nd Line of Defense Risk teams to complete the annual CCB Heightened Standards Independent Risk Management (IRM) self-assessment
  • Complete quarterly IRM program refreshes, including board reporting
  • Participate in the development of Heightened Standards related strategic initiatives and evaluations
  • 5-7 years of relevant experience preferably within Compliance, Regulatory Agency, Risk Management, Controls or Audit
  • In-depth knowledge and understanding of compliance risk management practices and methodologies, including risk assessment, monitoring/surveillance, risk and control assessments, reporting, and testing activities
  • Proficiency with FORCE and CATTS is a plus
  • Proficiency in MS Word, Excel, PowerPoint required
  • Past experience developing or enhancing compliance or audit programs with the ability to lead activities end-to-end
  • Proven ability to build rapport, garner respect and appropriately exercise authority in a collaborative environment
  • Professional maturity and confidence in expressing a point of view with senior management
  • Ability to identify and understand key risks, issues and trends and to develop meaningful reporting of this information
  • Past experience building across departments and functions, and establishing a culture of engagement.
  • Proven ability to positively and creatively influence change and champion critical change initiatives
 
 
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