The Compliance Monitoring and Testing (CMT) Team within the Compliance Department is responsible for conducting periodic testing and monitoring for compliance with privacy, deposit and lending regulations through a risk-based compliance approach throughout the Company in a fast-paced and dynamic environment.
The Compliance Monitoring and Special Projects Manager supports the Bank Compliance team by developing and maintaining a compliance monitoring program that helps proactively identify key risks and/or control weaknesses, and supports CMT in gaining access to data from various business systems for testing/monitoring purposes. Additionally, he/she is responsible for tracking and reporting issues identified during compliance testing and will ensure adequate and timely follow-up of issues identified by the testing team, audit, or during Bank regulatory examinations. He/she also serves as the central point of contact for technology enhancements in the testing/monitoring program, and acts as the liaison between compliance and various technology stakeholders.
The Compliance Monitoring and Special Projects Manager reports to the Bank’s Regulatory Compliance Monitoring & Testing Manager.
The Compliance Monitoring and Special Projects Manager will be a key member of the Corporate Compliance department who will be responsible for continuing the development of the Bank’s Compliance Monitoring Program. This individual should be able to think independently and be comfortable voicing his/her position. Because of our innovative and entrepreneurial culture, we seek individuals who can evaluate potential risks and corresponding impact and help drive process improvement, awareness of and adherence to company policies and procedures. He/she must be able to:
• Develop and implement a robust compliance monitoring program that helps to detect and identify key compliance risks and/or control weaknesses on an ongoing basis primarily using a data centric approach, including the development of program governance.
• Develop familiarity with data sources across the Bank to identify opportunities to utilize technology and automation to promote efficiency and scalability within the CMT program. This will require a comprehensive understanding of the Bank's systems and operations, and collaboration with Information Services and other relevant stakeholders across the organization.
• Coordinate with subject matter experts and CMT to design and produce exception reports and monitoring controls to identify weaknesses or risks due to changes in business activity, regulatory developments, results from regulatory inquiries and exams, internal audits and other monitoring activities.
• Monitor the results of compliance examinations, audits and CMT reviews and provide reports to the Bank Chief Compliance Officer regarding progress toward correction of stated concerns and observations.
• Utilize Archer to produce reports on outstanding issues identified during CMT reviews and participate in the further utilization of Archer to improve reporting for CMT.
• Serve as the point person for special projects within CMT and work with CMT manager on the annual monitoring schedule.
• Stay abreast of the regulatory environment and maintain competency through discussions with peers and participation in internal and external training opportunities, such as seminars, webinars, and roundtables.
• Effectively maneuver through the organization, assist in influencing others, and keep up with the ever-changing and growing First Republic Bank landscape.
• Performs other duties & responsibilities as required or assigned by CMT Manager.
Skills, Knowledge, and Abilities:
• Bachelor's degree or equivalent.
• 5+ years of banking/financial services/compliance experience.
• Ability to "think outside the box" and apply innovative or approaches to unique problems.
• Demonstrated ability to exercise independent judgment under a minimum of supervision, and must be self-managing and able to work with minimal day-to-day guidance.
• Ability to work on multiple projects at one time.
• Current knowledge of consumer and commercial lending, deposit and privacy regulations.
• Strong communication skills (written, verbal, and listening).
• Solid organizational, analytical and problem-solving skills, along with attention to detail.
• Sound understanding of business management principles.
• Proficient in MS Office (Excel, PowerPoint and Visio), and familiarity with Tableau and Archer (preferred but not necessary).
• Vision must be sufficient to read data reports, manuals and computer screens.
• Hearing must be sufficient to understand a conversation at a normal volume, including telephone calls and in person.
• Speech must be coherent to clearly convey or exchange information, including the giving and receiving of assignments and/or directions.
• Position involves sitting most of the time, but may involve walking or standing for brief periods of time.
• Must be able to travel in a limited capacity.