• Compliance Officer I

    Job Locations US-CA-Los Angeles
    Category
    Compliance
  • Overview

    SUMMARY

     

    The Compliance Officer II is responsible for duties within the Compliance Department and assisting the Compliance Manager as directed. The individual follows the Company’s Compliance Management Program (CMP) to ensure conformity and adherence with all applicable state and federal laws, regulations, and policies and procedures. Additionally, this individual reviews and analyzes key elements of the CMP within their area of purview. Responsibilities of this position include supervising and managing the monitoring process according to internal procedures and schedules, as well as monitoring key activities, independent quality control reviews, and quality control oversight of business units in adherence to compliance standards. Reports to the Compliance Manager.

     

    Ensures compliance with established Bank policies and procedures. Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to this position including but not limited to the following: GLBA(Gramm-Leach-Briley Act) , Regulation Z (Truth in Lending Act), Regulation DD (Truth in Savings Act) Regulation B (Equal Credit Opportunity Act), Dodd–Frank Wall Street Reform and Consumer Protection Act (Dodd Frank Act), Elder Abuse Laws, Bank Secrecy Act in conjunction with the USA PATRIOT Act, Anti-Money Laundering and Customer Information Program, Right to Financial Privacy Act (state and federal) and Community Reinvestment Act.

    Responsibilities

    ESSENTIAL DUTIES

     

    • Commits to identifying relevant compliance matters in a supervisory role and escalates them for awareness and/or potential action as appropriate to the Compliance Manager.
    • Manages risks and controls required to ensure compliance with applicable laws and regulations.
    • Facilitates compliance risk management within the context of disciplined planning, oversight, escalation, and the decision-making processes.
    • Remains up-to-date of regulatory changes, industry standards and best practices; updates compliance department policies and procedures accordingly.
    • Develops, updates and maintains Compliance department procedures, in accordance with Board approved policies and regulatory standards.
    • Provides direction and guidance on policy and procedure to business units across the Company.
    • Assists the Compliance Manager in maintaining and updating the Company’s Compliance Resource Library, ensuring timely revisions.
    • Ensures identified deficiencies are addressed, tracked, remediated and monitored for closure as required by Compliance Monitoring and Testing.
    • Escalates a risk, issue or concern to the Compliance Manager, in accordance with the Company’s Escalation Process.
    • Assists in exam coordination, provides required reports including compiling necessary information and/or documentation.
    • Routinely identifies, communicates and assesses regulatory changes in order to effectively communicate to impacted business units/employees throughout the organization.
    • Implements and applies new preventative techniques and methods that identify compliance and legal exposures to the Company based on regulatory changes.
    • Reviews and analyzes new products, agreements, disclosures, and marketing for regulatory compliance, complexity, actual or projected business volume and potential compliance risks.
    • Manages the monitoring processes and schedules within their assigned area in accordance with the Board approved schedule and in response to external or internal findings.
    • Develops action plans encompassing documentation, tracking and resolution issues, verification of corrective action closure and validation of effectiveness, in accordance with the Compliance Monitoring and Testing Program.
    • Monitors assigned action plans as part of the Compliance Monitoring and Testing Program by non-compliance or deficiency findings that may be identified through regulatory exams, internal or external audits, compliance monitoring, and employee discovery
    • Acts as a subject matter expert in the development of annual Compliance training content based on regulatory requirements and risk-based prioritization; coordinates training deployment with the Company’s Training Department.
    • Completes applicable mandatory compliance training each year in a timely manner including business unit specific compliance training, as directed.
    • Researches, develops and designs effective compliance training programs in accordance with Board approved policies and regulatory standards.
    • Keeps up-to-date of compliance issues and risks, regulatory changes, compliance policies and procedures, monitoring and testing results, etc. in order to identify and address gaps in controls.
    • Follows monitoring, testing and reporting processes in order to generate quantitative and qualitative reporting.
    • Manages reporting, providing actionable and timely information to proactively control compliance risks.
    • Prepares meaningful and timely reports as required under management practices.
    • Works collaboratively with other employees to support the overall objectives of the department.
    • Interacts appropriately and professionally with Regulators and auditors.
    • Is encouraged to participate in community development activities outside the organization in support of the Company’s Community Reinvestment goals.
    • Treats people with respect; keeps commitments; inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for own actions.
    • Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
    • Follows policies and procedures; completes tasks correctly and on time; supports the company’s goals and values.
    • Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.
    • Performs duties specific to the position and other functions as assigned.

    Qualifications

    MINIMUM REQUIREMENTS

     

    These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. The requirements listed below are representative of the knowledge, skill and/or ability required to perform the position in a satisfactory manner. Individual abilities may result in some deviation from these guidelines.

     

    • Bachelor’s degree or more than 5 years of related experience and/or training; or the equivalent combination of education and experience within the financial industry.
    • Intermediate skills in computer terminal and personal computer operation, mainframe computer system, word processing, typing and spreadsheet software programs to meet the needs of the position.
    • Intermediate math skills; ability to calculate interest, commissions, proportions, and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs.
    • Exceptional verbal, written and interpersonal communication skills, with the ability to apply common sense to carry out instructions and instruct others, train personnel, write reports, correspondence and procedures, and speak clearly to customers and employees 
    • Thorough understanding of management procedures; ability to plan department or Company activities (setting objectives, developing strategies, budgeting, and developing policies and procedures); initiative to organize various functions necessary to accomplish department or Company activities; effectively staff (selecting, training and developing employees); directing employees towards the desired objectives (delegating, motivating, resolving problems); controlling the function (developing performance standards, measuring results, taking corrective action and rewarding employees as appropriate) 
    • Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.
    • Ability to work with no supervision while performing duties
    • Current driver’s license and a vehicle with appropriate insurance coverage if required to drive in the course of performing assigned duties and responsibilities.

    We will consider for employment all qualified Applicants, including those with Criminal Histories, in a manner consistent with the requirements of applicable state and local laws, including the City of Los Angeles’ Fair Chance Initiative for Hiring Ordinance.

     

    We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.

     

     

     

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