Sr Compliance Officer
At Bank of the West, our people are having a positive impact on the world. We’re investing where we feel we can make the most impact, like advancing diversity and women entrepreneurship programs, financing for more small businesses, and promoting programs for sustainable energy. From our locations across the U.S., Bank of the West is taking action to help protect the planet, improve people’s lives, and strengthen communities. We are part of BNP Paribas, a global leader supporting the UN Sustainable Development Goals (SDGs). Yes, we’re a bank, but as the bank for a changing world, we are continually seeking to improve the ways we help our customers, while contributing to more sustainable and equitable growth.
Job Description Summary
This is a Second Line of Defense Compliance position that is responsible for managing the Bank’s Compliance Responsible Banking and Conduct program which includes all related consumer protection laws with an emphasis on UDAAP and employee misconduct.. The ideal candidate will have the ability to provide expert compliance advice in a dynamic environment, assisting compliance and business partners in identification and mitigation of compliance risks and delivering strategic, practical and business-focused compliance solutions. The candidate should be skilled at providing cross-functional collaboration to achieve efficient and effective compliance risk management and meeting regulatory expectations.
Essential Job Functions
- Guides Compliance Advisory and/or Business Units on regulatory, policy, and compliance process requirements to ensure compliance with new or existing regulations and best practices relating to Responsible Banking.
- Manages the review and interpretation of new or changed laws or regulations specific to Responsible Banking requirements
- Partners with Compliance Advisory and/or Business line team members to ensure timely identification, mitigation, resolution and reporting of existing and emerging compliance risks and issues; including from ongoing complaint monitoring.
- Provides expertise and oversight on regulatory requirements that affect control monitoring and identified issues.
- Advises on the design of the QC/QA processes related to compliance requirements, monitors and challenges execution of QA/QC, assesses and identifies weaknesses, and escalates issues as appropriate.
- Conducts periodic risk-based monitoring to ensure that key compliance processes in Compliance Advisory and/or Business Lines are conducted in a timely and well-controlled fashion and provides reports as appropriate.
- Advises, challenges, and approves Responsible Banking related risk assessments completed by the line of business
- Reviews appropriate policies, procedures, contracts and agreements to ensure compliance
- Participates in the Bank’s compliance committee(s) providing reports and information to top management, as necessary to monitor and escalate matters as appropriate.
- Advises and consults on proposed new products, services, and initiatives with regard to compliance obligations and corresponding compliance risks. Reviews/identifies regulatory impact, and approves recommended controls.
Other Job Duties
- Provides input in design of reporting to incorporate compliance risk metrics, monitors metrics and escalates matters as appropriate.
- Develops content and facilitates learning through the implementation of training programs.
- Advises/provides recommendations on complaint handling remediation and responses. Analyzes customer complaint data to determine control deficiencies and possible corrective action required. Monitors complaints reporting for timely responses, trends, and other regulatory issues.
- Advises on remediation and Corrective Action Plan design to address regulatory finding and tracks timely remediation efforts of the regulatory issues.
- Assists in preparation for regulatory examinations, advises on remediation and Action Plan design to address regulatory finding and tracks timely remediation efforts of the regulatory issues.
- Collaborate across the Compliance community to synthesize and communicate a comprehensive view of compliance risk to management.
- Performs other duties as assigned.
- Knowledge of federal and state consumer protection regulations and guidance, including UDAAP and professional ethics required
- 7 yrs compliance, risk, internal audit, or regulatory experience in the banking industry
- Prior experience working with regulatory agencies, including OCC, FDIC, CFPB, or state agencies is helpful.
- Strong communication and collaboration skills, including the ability to work effectively with others at all levels across the organization
- Strong knowledge of general banking with an understanding of deposit, lending and alternative investment products
- Strong knowledge of assigned laws and regulations.
- Strong interpersonal skills for coordination/liaison functions.
- Strong writing skills for composition of reports.
Equal Employment Opportunity Policy
Bank of the West is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. Bank of the West is also an Affirmative Action employer - Minority / Female / Disabled / Veteran.
Bank of the West will consider for employment qualified applicants with criminal histories pursuant to the San Francisco Fair Chance Ordinance subject to the requirements of all state and federal laws and regulations.