The Servicemember (Servicemembers Civil Relief Act SCRA, and Military Lending Act MLA) and Reg. O (Loans by Member Banks to Their Executive Officers, Directors, and Principal Shareholders) Compliance Program Specialist will report to the Servicemember and Reg. O Compliance Program Lead, and assist with the oversight and ongoing execution of the Servicemember and Reg. O Compliance Programs. Primary function responsibilities include: aiding the Program Lead with oversight of business line activity that impacts Servicemember and Reg. O compliance; analyzing risk assessments and monitoring & testing results; reviewing policy and procedures; assisting in the implementation of corrective actions; assisting with staff training / guidance, as appropriate; researching regulatory requirements; and assisting with the management of Servicemember and Reg. O-focused audits and exams. This individual will serve as a Servicemember and Reg. O subject matter expert in collaboration with the Program Lead, and will coordinate and provide advisory services to multiple business lines & functions across the institution. Detailed responsibilities include, but are not limited to the following:
Assists with ongoing oversight of Servicemember and Reg. O Compliance across the institution to ensure consistency, where appropriate, and for sustaining a risk-based Compliance Program for Servicemember and Reg. O that is comprehensive, and meets regulatory expectations.
Performs various monitoring and reporting activities in execution of Regulation O entity level controls.
Researches / responds to questions, relative to Servicemember and Reg. O compliance, from business line partners and Compliance Risk Management Specialists.
Assists with maintaining Servicemember and Reg. O-specific authoritative documents (e.g., SCRA Policy & Guidelines and Regulation O Policy & Guidelines) and Program-specific documentation (e.g., Program Summary and Annual Plan).
Assists with business risk and business / product management to establish and maintain a solid compliance control and risk assessment framework.
Provides Servicemember and Reg. O-specific input for ongoing risk assessments and for products & services across multiple business lines.
Researches and analyzes new / proposed laws and regulations to identify potential policy, procedure and/or system changes needed to facilitate compliance.
Partners with business lines in the implementation of regulatory reform / rule change initiatives.
In collaboration with Business Line Compliance Risk Management Specialists, reviews new products / marketing materials, and other forms of communications, for regulatory compliance / adherence to enterprise compliance standards.
In collaboration with the Program Lead, regularly reviews applicable state / federal laws and regulatory compliance issues through reading and researching applicable publications, news service articles, and external training.
Compiles and analyzes complaints, monitoring findings and/or trends and issues for inclusion in management reporting to keep senior and executive management fully informed of the health of the Program.
Identifies / investigates activity that can be indicative of compliance problems and communicate / escalate as necessary, including recommending practical solutions to address concerns.
As necessary, assists the Program Lead with supporting project teams to implement required corrective action, resolve deviations from established procedures, or to implement new procedures.
Provides support to the Program Lead with regulatory exams and internal audits that are Servicemember and Reg. O focused.
Maintains a collaborative environment, sharing ideas and assisting peers.
Exercises sound judgment and ensures integrity of confidential information.
Deals with change and handles stressful situations in a professional manner.
Bachelor's degree, or equivalent work experience
Five to seven years of experience in an applicable risk management environment
Advanced knowledge of applicable laws, regulations, financial services, and regulatory trends that impact their assigned line of business
Advanced understanding of the business line's operations, products/services, systems, and associated risks/controls
Advanced knowledge of Risk/Compliance/Audit competencies
Strong process facilitation, project management, and analytical skills
Must possess business acumen and credibility to help business line(s) proactively identify and address changing workforce needs
Excellent presentation, interpersonal, written and verbal communication skills
Proficient computer navigation skills using a variety of software packages, including Microsoft Office applications and word processing, spreadsheets, databases, and presentations
Applicable professional certifications preferred