THE REGULATORY COMPLIANCE TESTING MANAGER IS RESPONSIBLE FOR LEADING COMPLIANCE TESTING REVIEWS OF THE VARIOUS BUSINESS LINE COMPLIANCE-RELATED PROCESSES TO ENSURE COMPLIANCE WITH STATE AND FEDERAL LAWS, RULES, AND REGULATIONS. PROVIDE REPORTING AND ACTIVELY ENGAGE BUSINESS LINE LEADERSHIP TO COMMUNICATE THE RESULTS OF TESTING AND ANY INSTANCES OF NON-COMPLIANCE ALONG WITH GUIDANCE TOWARD CORRECTIVE ACTION OF THE ROOT CAUSE(S) OF THE IDENTIFIED ISSUE.
- Develops and coordinates compliance testing of various business line compliance-related functions to ensure WPCU remains in compliance with applicable laws, regulations, rules, and statutory requirements; (20%)
- Effectively manage a testing team and oversee compliance testing, ensuring all testing and review activities are conducted in a timely and accurate manner (i.e. per schedule), and that issues are appropriately escalated (20%)
- Document testing performed by establishing and maintaining comprehensive work papers and report the results of testing, ensuring such reports clearly describe the testing scope, findings, including violations and weaknesses, recommendations for corrective action, procedural or process observations, and include management responses. (20%)
- Independently perform reviews of various processes, identifying regulatory compliance risk and testing controls to ensure they adequately mitigate the risk. Conduct research as needed to support regulatory findings/controls. (10%)
- Explain and discuss regulatory findings with Compliance Managers and business line partners. Identify the root cause and help to recommend an appropriate corrective action. Obtain agreement with business line partners regarding issue complexity and issue resolution prior to issuing the report. Ensure actions were effective in remedying the risk to an acceptable level. Retest as needed. (10%)
- Provide coaching to analysts when performing reviews, including assistance with testing, exception determination and addressing any questions from Compliance Managers, as needed. (5%)
- Conduct quality control testing of reviews performed by others. Actively evaluate opportunities to enhance testing methodology and results as part of our continuous improvement (5%)
- Participates in the oversight of regulatory compliance audits and/or examinations: (5%)
- Submits periodic compliance performance reports to management, as needed. (5%)
Required Skills
The Regulatory Compliance Testing Manager has comprehensive and expert knowledge of compliance laws and regulations, federal and state credit union regulations, industry practices, and banking products. The following are also preferred:
- A Bachelor’s degree in a business or legal discipline;
- At least 8+ years’ experience in a depository financial institution with at least 6 years’ experience in a compliance role;
- Ability to think intuitively and strategically so that the department is enabled to anticipate, plan, and effectively execute to mitigate compliance risk.
- Highly developed managerial, communications, analytical, organizational, and strategic planning skills. Ability to take decisive action.
- Must be able to evaluate and solve problems from multiple perspectives.
- Previous experience leading a team or previous management experience preferred;
- Excellent written and verbal communication skills; and
- CRCM certification or equivalent preferred.
Required Experience