The Compliance Manager reports to the VP, Director of Strategic Partnerships and is responsible for ensuring that assigned Strategic Partner (“SP”) Programs maintain compliance with federal and state lending regulations as well as Medallion Bank requirements and expectations. Perform any other duties assigned by the VP, Director of Strategic Partnerships as they relate to the administration of the Bank’s SP compliance program.
ESSENTIAL DUTIES & RESPONSIBILITIES:
- Help manage an effective Compliance Management System (CMS) for all regulatory requirements applicable to the Bank’s SP program, including due diligence, implementation, and ongoing oversight, using policy and procedure, training, risk assessment, monitoring and testing, issue management, complaint management, etc.
- Be the primary contact for compliance related information and activities assigned SPs.
- Assist with ensuring appropriate documentation, root cause analysis, and remediation of audit findings, compliance testing findings, and examination findings, if any.
- Reviews and analyzes customer complaints to identify potential issues and improve the SP program.
- May collaborate with the SP Group in completing initial (due diligence) and ongoing risk assessments for assigned SPs.
- Help the Bank comply with BSA/AML requirements for SP activities, i.e., FinCEN 314(a) requests, OFAC scrubs, BSA document management, reporting, suspicious activity reporting, and risk assessments.
- Review and approve marketing material and customer facing correspondence, and research regulations pertaining to the review.
- Oversee compliance training completion reports of Bank and/or SP employees; Validate that SP annual compliance training program is comprehensive and is relevant and appropriately covers applicable laws and regulations.
- Ensure that existing and proposed SP’s business practices, pertaining to compliance policies and procedures, credit policies and procedures, loan disclosures, etc. comply with Bank requirements and applicable federal and state regulations.
- Provide assistance in addressing internal and external compliance audit findings and help prepare responses as needed.
- Work closely with the VP, Director of Strategic Partnerships, executive management, inside & outside legal counsel, and others to ensure the Bank is aware of all regulatory changes and emerging issues related to consumer lending, security, and privacy.
- Stay abreast of federal and state regulatory changes related to consumer/commercial lending and privacy laws that may have compliance implications and ensure those changes are communicated to and addressed by Bank management and SPs.
- Strong written and verbal communication and interpersonal skills.
- Must be a problem solver.
- Strong presentation skills.
- Capable of meeting established project deadlines.
- Minimum of 3 - 4 years regulatory compliance experience.
- Marketplace Lending and Strategic Partnership lending experience preferred.
- Knowledge of federal and state consumer protection laws and regulations, BSA/AML regulations.
- Two or more years of experience working in a bank or other financial institution.
- Experience interacting with the FDIC or Utah Department of Financial Institutions is a plus.
- Certified Regulatory Compliance Manager (CRCM) preferred.
PHYSICAL ENVIRONMENT AND PHYSICAL DEMANDS AND REQUIREMENTS:
- Good working conditions.
- Competitive salary with benefits.
- Required to pass a background check and maintain a clear background.