Regulatory Compliance Manager

Regulatory Compliance Manager

Requirements

• Minimum 5 years’ experience of increased responsibility working for either a regulatory agency examining banks or in a bank within the Compliance or Legal Department providing advice and/or guidance on non-BSA Laws and regulations including fiduciary banking regulations.
• Strong FDIC trust, fiduciary, compliance, and regulatory knowledge essential.
• Ability to work with and independently from Chief Compliance Officer.
• Strong leadership presence and ability to command others.
• Ability to take ownership of issues and work under pressure to meet deadlines.
• Excellent organizational skills with strong attention to detail.
• Ability to actively and effectively interact with Bank Regulators, business lines, and other areas of the Bank.
• Strong communication, and collaboration skills, including the ability to work effectively with others at all levels across the organization.
• Excellent written and oral communication skills.
• Experienced MS Office user.

Responsibilities

• Provide advice and guidance to the Chief Compliance Officer, senior management, and business lines regarding compliance with non-AML/BSA laws and regulations including fiduciary banking regulations.
• Effective management and remediation of all internal and regulatory examinations and reviews, including interacting with the Bank’s regulators regarding any pending matters or request items.
• Co-manage the Banks Regulatory Change Management Program.
• Responsible for the daily oversight and monitoring of all fiduciary activities for the Wealth Management (WM) Department of the Bank.
• Daily monitoring, review and assessment of regulatory notifications received through the IDBNY RCM Inbox and Thomson Reuters.
• Identify, research and record new and changing regulations impacting the Bank.
• Work with OGC and designated SMEs to determine applicability and risks associated with regulatory changes to the Bank.
• Coordinate and socialize with affected stakeholders.
• Provide guidance to the applicable lines of business (“LOB”) on the necessary controls and policy and procedural updates required to implement said changes.
• Monitor and follow through on all action plan(s) and subsequent validation procedure(s) in response to the applicability of the regulatory change(s).
• Maintain effective records and documentation of actions taken.
• Provide periodic reporting as necessary.
• Prepare monthly Regulatory Change Reports for IDB TA.
• Maintain a current knowledge of consumer compliance regulations and compliance best practices and recommend changes, as necessary.
• Manage oversight of the WM Employee Personal Securities Trading Policy; reporting all conflicts to the Chief Compliance Officer (“CCO”) and Senior Management; updating and amending the Policy as necessary; presentation of the Policy before the Bank’s Wealth Management Committee of the Board of Directors for annual approval.
• Responsible for any revisions and updates to the WM Compliance Procedure Manual and obtaining annual CCO approval.
• Ensure all WM front office policies and procedures are up to date and adequately address the current business structure and regulatory requirements.
• Act as the primary point of contact during FDIC, NYSDFS and Audit Examinations as related to the WM Department. Oversee all aspects of exams from the delivery of first day request items to the timely resolution of recommendations and findings.
• Participate in several investment committees including the Global Wealth Management Committee of the Board of Directors, the Investment Policy Committee, the Accounts Review Committee, and the Wealth Management Oversight Committee; present, review and prepare materials as required.
• Prepare monthly reports including ongoing exceptions monitoring, new, closed and unfunded accounts.
• Responsible for all system updates and changes to investment policy guidelines.
• Review and approve the opening of all new WM accounts in accordance with the Banks KYC Procedures and FDIC guidelines.
• As the WM Subject Matter Expert (“SME”) create and provide updates to the Banks on-line training program on all applicable fiduciary training courses.
• Review and approve all WM related advertising and marketing materials.
• Provide periodic compliance updates to the Chief Compliance Officer.

Preferred Qualifications

• Series 7 and Series 63 certification or professional trust certification is desirable but not required.
• Cannon Financial Institute Certifications a plus but not required.
• Certified Anti-Money Laundering Specialist is desirable but not required.
• Fluency in Spanish or Hebrew is desirable but not required.