Key Responsibilities:
Regulatory Compliance:
Develop, implement, and maintain compliance programs that meet regulatory and industry standards, including local, state, and federal laws
Stay up-to-date with changes in financial regulations, such as those from the SEC, FINRA, CFPB, and state regulatory bodies, and communicate any impact to the business
Review and interpret new laws and regulations to ensure the organization’s practices align with compliance requirements
Internal Auditing & Monitoring:
Conduct regular internal audits to assess compliance risks and identify any gaps in procedures or policies
Monitor and assess business operations to ensure compliance with company policies and legal requirements
Prepare audit reports for senior management, recommending improvements where necessary
Risk Management:
Identify, assess, and mitigate compliance risks in the company’s financial servicing operations
Develop and implement strategies to address identified risks and prevent violations
Maintain risk management frameworks and provide guidance on best practices for risk mitigation
Training & Awareness:
Develop and deliver training programs to employees on regulatory requirements, company policies, and compliance best practices
Provide ongoing support and guidance to staff regarding compliance-related issues
Policy Development & Implementation:
Design, review, and update compliance-related policies and procedures to align with current laws and industry best practices
Ensure that all policies are communicated effectively to the appropriate stakeholders
Regulatory Reporting & Documentation:
Prepare and file necessary compliance-related reports and documents with regulatory agencies, ensuring timely and accurate submission
Manage responses to regulatory inquiries, examinations, and investigations
Stakeholder Management:
Act as a liaison between internal departments and external regulatory bodies to ensure smooth communication and effective resolution of compliance issues
Collaborate with senior management and other departments to address compliance concerns and implement corrective actions
Incident Management:
Investigate potential compliance breaches or violations and recommend corrective actions
Maintain detailed records of compliance violations, actions taken, and outcomes to ensure accountability
Continuous Improvement:
Proactively identify areas of improvement within the compliance program and recommend enhancements
Leverage compliance technology and tools to streamline and automate processes where applicable
Requirements
Education: Bachelor’s degree in Business, Finance, Accounting, Law, or a related field (Master’s degree or legal qualifications are a plus)
Experience: 5+ years of experience in compliance management, risk management, or a related field in the financial services industry
Certifications:
Certification such as Certified Regulatory Compliance Manager (CRCM), Certified Risk and Compliance Management Professional (CRCMP), CIN and DCP are added advantages
Anti-Money Laundering (AML) certifications are a plus
Knowledge of Regulations: In-depth knowledge of financial regulations , and state financial services laws)
Attention to Detail: Strong attention to detail and ability to identify discrepancies or risks in complex regulatory frameworks
Analytical Skills: Exceptional problem-solving and analytical skills with a thorough understanding of compliance reporting
Communication Skills: Excellent written and verbal communication skills, with the ability to convey complex regulatory requirements clearly to non-experts
Technology Proficiency: Familiarity with compliance software, audit tools, and financial systems
Preferred Skills & Experience:
Leadership: Ability to manage and mentor a team of compliance professionals
Project Management: Strong organizational skills with the ability to manage multiple projects and deadlines
Legal Expertise: Familiarity with financial laws and regulations on a global scale, particularly for firms with cross-border operations
Industry Networks: Established relationships with regulatory bodies and industry professionals
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