Servicemember And Regulation O Program Specialist

US Bank Saint Louis , MO 63150

Posted 4 days ago

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:

JOB FUNCTIONS:

  • 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.

Basic Qualifications

  • Bachelor's degree, or equivalent work experience

  • Five to seven years of experience in an applicable risk management environment

Preferred Skills/Experience

  • 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

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Servicemember And Regulation O Program Specialist

US Bank