Pay Rate: $40
Location: Chicago IL
Job Type: Contract

Compliance Officer- Deposit Products

Duties and Responsibilities:

  • Perform compliance testing reviews and risk assessments to ensure compliance with applicable banking laws, rules and regulations as well as bank policies and procedures covering banking products, with a focus on deposit products.  Escalate and work to close any issues identified
  • Communicate testing results, present identified issues to the business, work with the business to develop and implement a plan of corrective action, and prepare written reports
  • Support business unit in development of business unit compliance policies, procedures, practices and other activities to assure compliance with applicable regulatory laws, rules and regulations, and related supervisory guidance
  • Train management and employees in relevant laws and regulations
  • Respond to day-to-day compliance questions from management and staff
  • Maintain proficient knowledge of applicable laws, regulations, and interpretations and attend external training when necessary.  A high level of proficiency is required on Regulations CC, DD, D, E, CAN-SPAM, Privacy, FCRA, and E-Sign.
  • Review marketing materials to ensure compliance with applicable rules and regulations
  • Coordinate responses and monitor resolution of consumer complaints
  • Provide input regarding compliance concerns relevant to current products and services offered, as well as during the ongoing process of development and changes to products and services
  • Assist in implementing and communicating new laws and regulations or changes to existing laws or regulations
  • Assist in implementing compliance responsibilities relating to mergers and acquisitions
  • Collaborate with other departments to direct compliance issues to appropriate existing channels for investigation and resolution
  • Identify potential areas of compliance vulnerability and risk; develop/implement corrective action plans for resolution of problematic issues; and, provide general guidance on how to avoid or deal with similar situations in the future

Requirements:

  • Bachelor's Degree
  • Three (3) - Five (5) years of progressively responsible experience in a bank or financial services company, with compliance, lending/credit, audit or risk management experience
  • Two (2) years of experience in oral and written communications including making presentations and preparing reports

Knowledge:

  • Knowledge and skill in applying compliance principles, theories, and practices
  • Knowledge and skill in applying industry program policies, procedures, regulations, and laws
  • Knowledge and experience in monitoring and testing compliance processes and procedures
  • Solid working knowledge of management information systems terminology, concepts, and practices
  • Proficiency in working with Microsoft Windows, Word, Powerpoint, and Excel

Skills/Abilities:

  • Collecting and analyzing complex data, evaluating information and drawing logical conclusions
  • Ability to effectively communicate the applicability of compliance issues to front line personnel for execution in the day-to-day working environment
  • Effective verbal and written communications skills, including active listening and proficiency in presenting findings and recommendations
  • Effective execution of the Compliance Management System
  • Skill in planning and project management, and in maintaining composure under pressure while meeting multiple deadlines
  • Ability to research issues and use the information to resolve problems
  • Ability to communicate with external regulators and effectively and accurately represent the effectiveness of the compliance program

Preferred:

  • JD, CPA, or MBA
  • Certification – CRCM
  • Active member in Community/Statewide/Federal professional associations