Compliance and Legal Risk Officer
As part of the second line of defense for WAB, the Compliance and Legal Risk Officer will be responsible for monitoring compliance and legal risk, including identification of regulatory, and organizational policies and standards. The position will facilitate independent risk assessments and risk management processes to ensure they are fully documented, performed efficiently and effectively, and meet WAL business and regulatory requirements. The position will also be responsible for maintenance of the TraceRisk system, i.e. documentation, maintenance, and enhancements.
Working in conjunction with other stakeholders within the Bank, the Compliance and Legal Risk Officer will serve as a subject matter expert advisor to management concerning risks involving compliance and legal. The role will perform risk assessments of various compliance and legal related risk subjects and ensure that these risks are appropriately measured and monitored in the corporate risk universe.
The successful applicant will have excellent communication skills, and the ability to explain risks that are often complex and obscure to various stakeholders. This includes the ability to build strong interpersonal relationships, and inform, guide and motivate process stakeholders to address risks with due care and attention to detail. In addition, this individual will have a strong understanding of compliance risks and mitigation controls. This role requires the ability to multi-task to keep multiple projects on track simultaneously, facilitate consensus among multiple teams (risk, ops, compliance, legal) and stakeholders to ensure work can progress in a timely manner and deliver projected business results.
- Manage risk based compliance monitoring which may be performed within the business units. Perform or coordinate as needed and maintain schedules and files for such purposes
- Report results of compliance monitoring to the Chief Risk Officer, with recommended time tables for correction
- Test information gathered to support KRI ratings, including testing of policy criteria and supervisory letter requirements.
- Develop and maintain positive relationships with Regulators, examiners and Clients.
- Ensure that adequate due diligence is performed on new vendors to satisfy the vendor review process
- Provide reporting to the Board as needed
- Maintain and enhance a compliance risk management framework that incorporates risk assessment, control design, training, monitoring, testing, and reporting of compliance matters;
- Contribute to the Risk Appetite Statement to ensure appropriate consideration of compliance issues and concerns
- Ensure compliance risk controls exist in accordance with regulatory standards and policies
- Participates in Business management, risk, new product, and project meetings and provides regulatory risk advice as well as ongoing information about new and changing regulatory developments
- Leverages compliance expertise and experience in the financial services' industry to provide compliance guidance to the Business Units, review policies, procedures, and processes to identify regulatory risks, and assess the applicability of new and changing laws, regulations, and guidance
- Providing leadership to the Executive Risk Management Committee for Compliance and Legal Risk
- Maintain the TraceRisk system, through ownership, documentation, and enhancements
- Perform other duties as assigned by Chief Risk Officer and/or Risk Manager
- Bachelor's degree, Master's degree preferred
- 5+ years of Banking Advisory Compliance
- Regulatory Compliance / Consumer Compliance - work experience (at least 2 years performing lending and deposit reviews)
- Attention to detail and excellent analytical skills required
- Excellent leadership skills demonstrated by ownership of issues through their resolution while providing sound guidance to others
- Ensure compliance and legal risk controls exist in accordance with regulatory standards and policies
- Strong understanding of compliance processes and activities common to a bank and bank holding company
- Ability to manage multiple processes and projects at once
- Excellent verbal and written communication skills.
Mon, 2 Oct 2017 20:06:35 PDT