The Non-Consumer Regulatory Risk Oversight Officer plays a key 2nd line of defense role providing oversight, effective challenge and independent assessment of risk and risk-taking activities to ensure compliance and effective risk management for Non-Consumer Regulations (e.g. FINRA, Fiduciary Rules, Reg W, ADA, Bribery Act, etc). The role functions as an independent and objective body that works closely with the 1st line of defense teams to review and evaluate compliance issues/concerns related to non-consumer related regulations to ensure the organization is meeting the expectations of these regulations, particularly as it relates to the organization's wealth management activities. The profile of the ideal candidate therefore will include experience with the regulatory requirements associated with the wealth management business (broker-dealer and investment advisory). The position provides assurance to the Board of Directors and senior management that employees, particularly those involved in wealth management activities, are complying with the rules and regulations of regulatory agencies, that company policies and procedures in these areas are being followed, and that behavior in the organization meets regulatory expectations and the company's Standards of Conduct.
Acts as an independent review and evaluation body to ensure that compliance issues/concerns within the organization related to non-consumer compliance regulations, particularly those governing the organization's wealth management activities are being appropriately evaluated, investigated and resolved.
Monitors and, as necessary, coordinates works with other departments (Wealth Management, Internal Audit, Compliance, Legal) to remain abreast of the status of all compliance activities and to identify trends with a particular focus on the organization's wealth management activities.
Leads the enhancement and further development of the enterprise's existing regulatory change management processes as it relates to emerging non-consumer compliance obligations, incorporating best industry practices and regulatory guidance, and partnering as appropriate with Wintrust's Risk Management, Legal, Compliance, and Operational Initiatives teams.
Work with 1st line teams to develop, document, and maintain appropriate policies and procedures to govern compliance with non-consumer regulations, particularly in the area of wealth management.
Identifies potential areas of compliance vulnerability and risk in targeted areas; works with the 1st line to complete risk and control self-assessments and develop/implement corrective action plans for resolution, and assist as required with managing regulatory examinations.
Provides reports on a regular basis, and as directed or requested, to keep the Operational Risk Committee and senior management informed of the operation and progress of compliance efforts related to non-consumer regulations, particularly in the area of wealth management.
Bachelor's Degree or equivalent
7-10 years securities, compliance, risk management, or financial institution regulatory experience.
Proficient level of knowledge of financial and operational risks; and securities industry rules, regulations, guidelines and industry best practices.
Proficient knowledge of securities products, activities of member firms and the securities industry. (FINRA Examiner experience a plus)
Experience with and exposure to the regulatory requirements associated with the wealth management business (broker-dealer and investment advisory).
Familiarity with operational, financial, and quality assurance within a wealth management organization
Fluency with the evolving regulatory structure governing banks and bank holding companies.
Expertise advising banks and bank holding companies regarding regulatory and examination matters, with particular focus on emerging regulatory challenges.
Sound critical thinking, interviewing, research and quantitative skills.
Excellent oral and written communication and presentation skills
Personal initiative and ability to be a "self-starter" and strong time management skills.
Proven track record of establishing a proactive, constructive dialogue and partnering with professionals internally and externally
Wintrust is a financial holding company with assets of over $30 billion whose common stock is traded on the NASDAQ Global Select Market. Wintrust offers sophisticated technology and resources of a large bank while focusing on providing service-based community banking to each and every customer. We operate fifteen community bank subsidiaries, with over 160 banking locations located in the greater Chicago and southern Wisconsin market areas. Wintrust also operates various business units which provide commercial and life insurance premium financing in the United States, a premium finance company operating in Canada, a company providing short-term accounts receivable financing and value-added out-sourced administrative services to the temporary staffing services industry, a business unit engaging primarily in the origination and purchase of residential mortgages for sale into the secondary market throughout the United States, and companies providing wealth management services and qualified intermediary services for tax-deferred exchanges.
We provide an engaging, dynamic work environment, an excellent compensation package including 401k, employee stock purchase plan, medical/dental, life insurance and more!
Wintrust Financial Corporation (including community banking and financial services subsidiaries) is an Equal Opportunity/Affirmative Action/Veterans/Disability employer.