Consumer Compliance Officer

Description

The Consumer Compliance Officer serves as the day-to-day administrator of the bank’s Consumer Compliance Management System (CMS) and supports compliance governance, the management of regulatory compliance, and the identification and application of regulatory requirements to the bank’s products, services, systems, and technologies, as well as new or modified product initiatives, in order to assess compliance with guidelines. The role is responsible for assisting in the development, implementation, and consistent review of the bank’s consumer compliance framework to ensure adherence to applicable consumer protection laws and regulations, as well as for providing regulatory analysis, compliance advisory support, monitoring, and corrective actions in response to consumer complaints. The position reports to the CCO. The position provides compliance oversight of the bank’s consumer-oriented products, services, channels, and activities.

Main responsibilities

• Consumer Compliance Oversight
• Serve as the day-to-day administrator of the bank's Consumer Compliance Management System (CMS) and assist the CCO in maintaining effective oversight of consumer compliance.
• Maintenance and improvement of the compliance CMS, including policies and procedures, training, monitoring and corrective action processes, and compliance management reporting.
• Provide regulatory guidance and support to business units and departments, including products, services, and new or modified product initiatives, to assess compliance guidelines.
• Review consumer products, services, channels, and requirements to identify applicable regulatory compliance risks and potential opportunities.
• Support for regulatory research, monitoring, and compliance oversight, as well as related processes involving regulatory compliance research, monitoring, and implementation, including regulatory research, impact assessments, implementation planning, and the development and maintenance of policies and standards.
• Oversee consumer compliance monitoring and testing activities to assess compliance with applicable regulatory requirements and internal policies and procedures, compliance monitoring programs, as well as issue tracking, remediation, and closure activities.
• Supporting business units by translating applicable regulatory requirements into practical guidelines, manuals, key risk indicators, compliance metrics, and training materials, as well as through monitoring and administration, management committees, and the Board of Directors.
• Management of audit-ready documentation for all compliance areas, including documentation for audits, tests, and remediation plans.
• Collaborate with Internal Audit, Risk Management, and business units to strengthen compliance governance, operations, and controls, and to assess their impact on the Bank’s products, services, and operations.
• Assistance in preparing responses to regulatory inspections, corrective action plans, and inspection remediation efforts, as needed.
• Governance, Risk & Reporting
• Conducting consumer compliance risk assessments and providing support for the maintenance of policies, procedures, monitoring programs, and control frameworks within the bank.
• Preparation of management reports, dashboards, key risk indicators, and compliance metrics, as well as monitoring and administration, management committees, and the board of directors.
• Tracking of complaint monitoring/testing, regulatory change management, compliance reporting, as well as issue tracking, remediation, and closing activities.
• Collaborate with Internal Audit, Risk Management, and business units to strengthen the bank's compliance governance, operations, and controls.
• Analysis of regulatory developments, business trends, and emerging risks, as well as assessment of their impact on the Bank's products, services, and operations.
• Assistance in preparing responses to regulatory examinations, corrective action plans, and documentation related to bank examinations, as needed.