Full-Time Compliance Assurance Officer

ABOUT US

Coastal Community Bank is a leader in Banking with strong Financial infrastructure leading Banking as a Service (BaaS) and Fintech strategies.

OVERVIEW

The Compliance Assurance Officer II ensures a strong, enterprise-wide compliance culture by assisting in the development and maintenance of assurance (monitoring and testing) program infrastructure that identifies, measures and monitors compliance with all applicable laws and regulations. Responsible for executing risk-based compliance monitoring and testing activities under the direction of the Compliance Assurance Manager to validate Bank’s adherence to applicable laws and regulations.

RESPONSIBILITIES TO INCLUDE

• Performs various and more complex monitoring and testing activities with minimal supervision, including the development of risk-based work papers, procedures, and templates, to validate the effectiveness of control activities and processes in accordance with the annual compliance monitoring and testing schedule.
• Document monitoring and testing activities accurately, thoroughly, and according to department standards that clearly communicate the objective, scope, and supports conclusions of test findings.
• Prepares effective communication reporting to summarize findings, including root cause analysis.
• Verify the implementation of remediation plans submitted by issue owners to verify that issues identified during monitoring or testing activities are remediated and fully address the root cause.
• Performs follow-up for the completion of action plans for issues identified in monitoring or testing activities to ensure completion is within target date timeframes. This includes following up for monthly status updates from action plan owners and updating the status in GRC tool.
• Identifies opportunities to use data analytics and statistical analyses to create automated testing of control activities and regulatory components.
• Perform complaint data analysis and evaluation to identify trends, compliance gaps and potential compliance risk exposure.
• Use social media listening tools and AI driven software to conduct marketing compliance monitoring and general on-going regulatory compliance monitoring.
• Maintain proficient knowledge of the rules and regulations, including but not limited to, Regulation E, Truth in Savings Act, Unfair, Deceptive or Abusive Acts or Practices (UDAAP), FACTA, Reg Z-Truth in Lending, Reg B-Equal Credit Opportunity Act, Fair Credit Reporting Act.
• Builds and maintains strong relationships with key stakeholders and team members.
• Assists with the completion of the annual compliance risk assessment.
• Provide internal service in accordance with Coastal Core Values.
• Because we are a rapidly changing organization, there will be other duties as assigned.

QUALIFICATIONS

• Ability to read, analyze and interpret governmental laws, regulations, and regulatory guidance.
• Strong investigative, problem-solving, and critical thinking skills and ability to provide workable recommendations and solutions.
• Ability to perform multiple tasks and priorities to meet deadlines.
• Ability to exercise independent judgement and perform complex analytical work independently.
• Strong verbal and written communication skills with ability to summarize issues, articulate complex concepts clearly, create reports effectively, and interact with variety of individuals within all levels of the department and the financial institution.
• Must possess initiative, be a self-starter, have exceptional organizational skills and a high attention to detail and accuracy.
• Proven ability to establish and maintain effective relationships at all levels.
• Proficiency with standard computer applications including Windows Office suite, e.g. Microsoft Word, Excel.

EDUCATION/EXPERIENCE

• 5+ years combined experience in Bank Regulatory Compliance, Audit, or Risk Management, including 1+ years of experience conducting compliance testing and/or monitoring. Ideally, experience across fintech and traditional financial institutions.
• Proven expertise with consumer protection regulations and laws and the internal controls needed to mitigate those risks.
• Experience in both lending and deposits regulations required.
• Expertise in analyzing data for trends and using software applications to conduct compliance monitoring required.
• CRCM certification or completion of specialized training in compliance (e.g., ABA Graduate School of Compliance Risk Management) is a plus.

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