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Consumer & Community Banking Compliance Controls & Practices (RCSA) - Associate

Req #: 180035888
Location: Jersey City, NJ, US
Job Category: Compliance
Potential Referral Amount: 0 US Dollar (USD)
Consumer & Community Banking (CCB) Compliance plays a critical role in the successful execution of the firm’s Compliance mission. The Compliance function ensures the development and maintenance of a strong compliance culture by working closely with the business, legal, risk, and audit functions to provide expertise on regulatory compliance matters. The Compliance function also develops and maintains practices to identify, measure, manage, and control compliance risks and advises, monitors and tests the adequacy of the firm’s compliance control environment.
CCB Controls & Practices partners with Global Compliance and Global Oversight & Controls to design and implement Core compliance practices to be applied across CCB Compliance. Such practices include enhancing and implementing a consistent approach and framework for Governance & Oversight, Policies & Procedures, Training & Awareness, Monitoring & Testing, Risk Assessment and Reporting, Issue Management and Risk and Control Self-Assessment (RCSA) activities. The team, in partnership with Chief Compliance Officers and their teams will drive the design and implementation of CCB’s compliance practices and provide oversight for effective execution.
Position Description
This role provides the opportunity to participate in the development of a best in class Compliance Controls & Practices function with the responsibility for advising, guiding, and supporting CCB Compliance Teams on existing practices and standards. The primary objectives of the Function are to help ensure the execution of high quality and consistent CCB Compliance controls and practices. The role will manage the end to end RCSA program for CCB Compliance, manage CCB Compliance owned issues, assist in the analysis of the quality of core practices execution and will develop and implement recommendations, guidance and training on best practices to continually enhance the effectiveness of execution and standards of such controls and practices.
  • Maintain structural and related data including management of business hierarchy changes
  • Conduct cross LOB consistency reviews
  • Manage CCB Compliance owned issue governance processes from issue identification, action plan creation, and closure
  • Perform RCSA Calibration exercises and detailed process walkthroughs, identifying control points
  • Understand, evaluate, and update, as necessary, CCB Compliance PARCs (Processes, Activities, Risks and Controls), Control Ratings, and Business Guidance and Procedures
  • Conduct Inherent Risk reviews and manage calibrations and issue/action plan linkages
  • Represent the CCB Compliance team at Global Compliance RCSA governance meetings and manage all BAU requests
  • Ensure Corporate RCSA standards are complied with
  • Review and analyze CCB Compliance owned control design
  • Provide credible challenge to LOB Chief Compliance Officers and their teams pertaining to RCSA planning and execution as necessary
  • Aggregate, analyze, and report the management information;
  • Oversee CCB Compliance Practices data and records management processes
  • Drive improvement and execution of Consumer & Community Banking ( CCB) Compliance Governance & Oversight, management reporting and leading edge practices that are sustainable, repeatable and drive consistency;
  • Innovate and implement changes to MIS and reporting to senior stakeholders;
  • Improve qualitative analysis on the metrics and identify areas for management escalation;
  • Develop presentations for senior stakeholders based on interpretation of data metrics, evaluations of trends and make recommendations based on findings;
  • Keep abreast of industry and regulatory developments regarding compliance design promoting an environment with leading edge compliance risk management practices and tools;
  • Manage deliverables and timescales and participate in multiple project work streams concurrently;
  • Escalate items outside of agreed variances, emerging and current risks/issues and process improvement opportunities;
  • Build and maintain key relationships across CCB Compliance, promoting a culture of engagement and connectivity.
    • 3- 5 years’ experience in Compliance, Risk or Audit related activities, preferably within the financial services industry
    • In-depth knowledge and understanding of compliance risk management practices and methodologies, including risk assessment, monitoring/surveillance, risk and control assessments, reporting, and testing activities
    • Proficiency with FORCE is a plus
    • Proficiency in MS Word, Excel, PowerPoint required
    • Past experience developing or enhancing compliance or audit programs with the ability to lead activities end-to-end
    • Ability to build rapport, garner respect and appropriately exercise authority in a collaborative environment
    • Professional maturity and confidence in expressing a point of view with senior management
    • Ability to identify and understand key risks, issues and trends and to develop meaningful reporting of this information
    • Past experience building across departments and functions, and establishing a culture of engagement.
    • Ability to positively and creatively influence change and champion critical change initiatives
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