A Deputy Chief Compliance Officer is a key position within a company, responsible for assisting the Chief Compliance Officer in managing and overseeing the organization's compliance program. The Deputy Chief Compliance Officer would be responsible for designing and implementing comprehensive compliance programs that align with regulatory requirements and the bank's policies. This includes establishing policies, procedures, and controls to ensure compliance across the organization. By joining our team, you’ll be joining a Bank that believes that that maintaining a diverse and inclusive workplace where everyone feels valued and respected is essential for us to grow as a company. We are dedicated to building a more equitable world in our everyday practices by embracing the values of our employees and customers. Essential Job Functions:
Monitor and ensure compliance with applicable banking laws, regulations, and guidelines. This includes staying up to date with changes in regulations and assessing their impact on the bank's operations. Work closely with regulatory agencies to address inquiries, examinations, and audits.
Conduct risk assessments to identify potential compliance risks and develop strategies to mitigate them. This involves analyzing business processes, conducting compliance audits, and implementing corrective actions to address any identified gaps or violations.
Develop and deliver compliance training programs to educate employees about regulatory requirements and their obligations. This includes providing ongoing training to ensure that employees have a strong understanding of compliance policies and procedures.
Establish monitoring processes to assess compliance with internal policies and external regulations. This involves conducting regular compliance reviews, internal audits, and risk assessments. Prepare and submit compliance reports to senior management and regulatory authorities as required.
Promote a culture of ethics and integrity within the organization by establishing and maintaining a robust code of conduct. This includes ensuring that employees understand and adhere to ethical standards and reporting any potential breaches or violations.
Collaborate with various stakeholders, including senior management, business units, legal teams, and external regulators, to address compliance-related issues and provide guidance on regulatory matters. This involves effectively communicating compliance requirements and providing timely advice to support business initiatives.
Monitor and assess changes in banking regulations and ensure that the bank's compliance programs are updated accordingly. This includes conducting impact assessments, implementing necessary changes, and communicating updates to relevant stakeholders.
Lead investigations in the event of compliance breaches or incidents. Assess the impact and implement appropriate remedial actions. This includes collaborating with internal teams, legal counsel, and regulatory agencies to resolve issues and prevent future occurrences.
Continuously evaluate and enhance the bank's compliance programs by identifying areas for improvement and implementing best practices. This involves staying informed about industry trends, emerging risks, and evolving regulatory expectations.
Knowledge, Skills, and Experience Requirements:
In-depth knowledge of banking regulations and Consumer Financial Protection Bureau (CFPB) rules.
Strong analytical and critical thinking skills to identify and assess compliance risks specific to the banking industry.
Excellent communication and interpersonal skills to effectively communicate compliance requirements to employees, regulators, and other stakeholders.
Attention to detail and ability to interpret complex banking regulations and policies.
Leadership and managerial skills to oversee compliance programs and teams within the bank.
Familiarity with risk management principles and practices in the banking sector.
Prior experience in a compliance-related role within the banking industry, preferably in a leadership position.
Experience in designing and implementing compliance programs specific to banks.
Knowledge of banking operations, products, and services, including retail banking, commercial banking, lending, and investment products.
Familiarity with conducting compliance audits and investigations in the banking industry.
Understanding of the compliance challenges and regulatory expectations specific to banks, including regulatory reporting, customer due diligence, and privacy regulations.
Relevant certifications such as Certified Regulatory Compliance Manager (CRCM), or Certified Bank Auditor (CBA) can be beneficial and demonstrate your expertise in banking compliance.
Our job titles may span more than one career level. The starting base salary for this role is between $175,000.00 – $190,000.00. The actual base pay is dependent upon many factors, such as: training, transferrable skills, work experience, business needs and market demands. The base pay range is subject to change and may be modified in the future.
Amalgamated Bank is an Equal Opportunity and Affirmative Action Employer, Minorities / Females / Individuals with Disability / Veterans . (https://www.eeoc.gov/sites/default/files/migratedfiles/employers/posterscreenreaderoptimized.pdf) AmeriCorps, Peace Corps and other national service alumni are encouraged to apply. View our Pay Transparency Statement (https://www.amalgamatedbank.com/sites/default/files/pay-transparency.pdf) . Submission of a resume or any information regarding your qualifications does not constitute a promise or offer of employment. At Amalgamated Bank, we consider an applicant to be someone who has interviewed at least once, in person, with the hiring manager. Amalgamated Bank does not sponsor applicants for work visas.