Compliance Officer

$140,000 - $165,000/Yr

CFG Bank - Baltimore, MD

Full-time - Mid Level

Hybrid - Baltimore, MD

Credit Intermediation and Related Activities

About the position

The Compliance Officer is responsible for leading and managing the Bank's Compliance Management Program, ensuring adherence to regulatory requirements, and fostering a culture of compliance throughout the organization. This role involves providing strategic advisory services, executing comprehensive monitoring, and enhancing the Bank's compliance framework. The Compliance Officer serves as the primary subject matter expert, collaborating with business units to ensure effective procedures and controls are in place and that the Bank's operations are compliant with all applicable laws and regulations.

Responsibilities

• Provide strategic direction and oversight to business lines, ensuring effective monitoring and enhancing the Bank's Compliance Management Program to meet regulatory expectations and best practices.
• Oversee the design, implementation, and continuous improvement of the Compliance Management Program as the second line of defense.
• Serve as the primary subject matter expert on Regulatory Compliance matters.
• Lead collaboration with business units, advising on transactional processes, control design, development, and integration of necessary disclosures to ensure compliance with laws and regulations, including those related to new or modified products and services.
• Develop, maintain, and monitor effective procedures and controls for the Compliance Management Program.
• Guide and support business units in implementing regulatory changes, managing projects, and enhancing processes.
• Prepare comprehensive reports on program components and metrics for senior management and regulatory bodies.
• Coordinate audit and exam materials, responding to regulatory inquiries and audits related to compliance.
• Lead the development and delivery of compliance training programs to ensure staff are aware of and understand compliance requirements.
• Identify, assess, and mitigate compliance risks, ensuring timely detection and resolution of compliance issues. Report on compliance activities to senior management and recommend corrective actions when necessary.
• Proactively monitor regulatory changes and industry best practices to keep the Bank's Compliance Management Program current and effective. Lead initiatives to improve the program's efficiency and effectiveness.
• Mentor and guide compliance staff, fostering their development to ensure the compliance function is well-resourced and capable of meeting the Bank's needs.
• The Compliance Officer may take on additional responsibilities as needed to maintain the organization's compliance standards.

Requirements

• Seven or more years in financial regulatory compliance, with demonstrated experience leading compliance initiatives and managing complex regulatory requirements.
• In-depth knowledge of financial regulations, with a focus on Deposit Regulations and Regulation W.
• Ability to provide strategic compliance advice and guidance to business units.
• Strong organizational, analytical, and problem-solving abilities, with a demonstrated ability to interpret and apply complex regulatory requirements.
• Excellent communication skills with the ability to build strong relationships across all levels of the organization.
• Proven ability to lead and manage a compliance function, including mentoring and developing junior staff.

Benefits

• Employer-provided health benefits: medical insurance, dental & vision insurance, disability insurance, life insurance, mental health support services, wellness program & free health club membership (for Baltimore-based employees)
• Paid time off: vacation days, sick leave, volunteer days
• Retirement plan: 401(k) with employer match
• Other compensation elements: Discretionary annual bonus and overtime pay for non-exempt positions