A Pioneering Financial Institution in New York Seeks Consumer Banking Compliance VP
A prominent financial institution in New York, NY is looking to recruit a Consumer Banking Compliance VP. This role is pivotal in maintaining the highest standards of compliance in the consumer banking sector. The VP will be responsible for shaping and maintaining a risk-based framework that covers loans and deposits, thereby ensuring operational integrity. The job also offers flexible work hours, comprehensive training programs, and a supportive leadership team. This opportunity provides a platform to make a significant impact while advancing your career in a collaborative and inclusive environment.
Key Responsibilities of Consumer Banking Compliance VP
The role of Consumer Banking Compliance VP is significant in preserving the integrity of the bank’s consumer banking operations. The daily responsibilities will involve close collaboration with various departments to ensure that every aspect of the bank’s consumer offerings aligns with prevailing regulatory standards. As a part of your role, you will play a crucial role in developing educational initiatives that equip colleagues with essential compliance knowledge. You will also establish monitoring mechanisms that drive ongoing improvement. By staying vigilant about evolving regulations and actively participating in regulatory examinations, you will help uphold exemplary standards of accountability. Your ability to provide clear guidance on intricate compliance matters will be indispensable in supporting both strategic decision-making and operational excellence throughout the institution.
Some key responsibilities include:
- Supervising the formulation, implementation, and continuous refinement of a comprehensive risk-based compliance program tailored to the bank’s consumer banking activities.
- Maintaining an exhaustive inventory of all consumer compliance obligations relevant to the bank’s operations, ensuring absolute thoroughness in regulatory observance.
- Establishing effective policies, procedures, systems, and controls designed to mitigate consumer compliance risks across all relevant business lines.
- Providing continuous support and expert guidance to business units on all matters related to consumer compliance.
- Assisting the Chief Compliance Officer in evaluating new products or services by ensuring that potential consumer compliance risks are rigorously assessed and addressed before introduction.
- Designing and delivering comprehensive consumer compliance training programs for staff at every level to promote awareness and understanding of regulatory responsibilities.
- Developing and implementing robust monitoring programs aimed at proactively identifying opportunities for enhancement within the consumer compliance framework.
- Participating diligently in regulatory examinations as directed by the Chief Compliance Officer, preparing requisite documentation and responding thoughtfully to inquiries.
- Monitoring developments in consumer compliance regulations and assessing their implications for the bank’s operations, communicating updates promptly to all relevant stakeholders.
Key Requirements for the Role
To excel as Consumer Banking Compliance VP, you will bring substantial practical experience navigating the intricacies of consumer banking regulations. Your background will encompass direct involvement with risk assessment processes, policy development initiatives, and meaningful interaction with regulatory authorities. Exceptional communication skills, both written and verbal, are required to distil complex legal requirements into accessible guidance for colleagues at every level. Your collaborative disposition will be evident as you work harmoniously with cross-functional teams to embed best practices throughout the organization. Dedication to continuous learning will ensure you remain apprised of emerging trends in compliance management, while your meticulous attention to detail guarantees thoroughness in every undertaking.
Some key requirements include:
- A bachelor’s degree or law degree evidencing your robust academic foundation in disciplines such as law, finance, or business administration.
- A minimum of five years’ experience directly addressing consumer compliance matters within a financial institution or comparably regulated environment.
- Comprehensive understanding of consumer compliance risks associated with banking products and services, including but not limited to regulations such as Reg. O, Reg. V, Reg. Z, UDAAP, and CRA.
- Extensive knowledge of industry best practices as well as regulatory expectations for effective compliance management frameworks.
- A methodical approach to problem-solving complemented by analytical skills that enable thoughtful assessment of complex situations.
- Exceptional interpersonal skills with demonstrated ability to influence stakeholders at all levels through considerate communication and empathetic engagement.
- Outstanding written and verbal communication abilities refined through experience, presenting information clearly across diverse audiences within an organization.
- Proven capacity for working independently whilst remaining responsive to team needs; adept at managing multiple priorities under pressure without compromising quality or accuracy.
- Experience engaging constructively with U.S. regulators such as OCC, FDIC, or Federal Reserve during examinations or audits.
What Sets This Company Apart
This institution distinguishes itself through its unwavering commitment to cultivating an inclusive workplace where each individual’s contributions are genuinely valued. This focus on inclusion fosters an environment in which all employees can thrive and contribute to the institution’s success.
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