Regulatory Change Manager

Provident Bank Of New Jersey - Woodbridge Township, NJ

Full-time - Senior

Woodbridge Township, NJ

About the position

The Regulatory Change Manager at Provident Bank is a pivotal role responsible for overseeing and managing regulatory changes that impact the organization. This position requires a proactive approach to monitor regulatory activities from various issuing bodies, including upcoming regulations, legislative changes, and enforcement actions. The manager will conduct thorough impact assessments of these regulatory changes and collaborate with relevant stakeholders to adapt the bank's policies, standards, and controls to ensure continuous compliance with applicable regulations. In this role, the Regulatory Change Manager will lead the monthly regulatory change management working group, providing regular updates and reports on all regulatory activities that affect the organization. This includes developing action plans to address regulatory changes, enhancing self-monitoring plans, and ensuring that the regulatory change management procedures are periodically reviewed and updated to remain effective and relevant. The position demands strong banking experience and a comprehensive understanding of banking regulations. The manager will be expected to work independently while also collaborating with team members to provide strategic oversight and ensure that all solutions are compliant with relevant regulations. Effective communication with stakeholders is crucial, as the manager will lead cross-divisional discussions and utilize appropriate methodologies and governance tools to drive timely delivery of analyses and agreed-upon approaches.

Responsibilities

• Monitor upcoming, in development and relevant regulatory activities, including investigations and enforcements, legislative activity and changes of existing applicable regulations.
• Conduct an impact assessment of the regulatory change and identify appropriate stakeholders within the business.
• Assist the business with the development of action plans to address the changes, including adapting new policies and controls, and enhancements to the self-monitoring plans to ensure continuous effectiveness.
• Lead the monthly regulatory change management working group and provide regular reporting on all regulatory activities that impact the organization.
• Periodically review and update the regulatory change management procedures to ensure they remain fit for purpose.

Requirements

• Bachelor's Degree or 5 plus years of relevant work experience in a corporate compliance function.
• Five years of experience in utilizing various regulatory monitoring programs, such as Reg Room, developing impact analyses and risk assessments.
• Strong knowledge of banking regulations necessary.

Nice-to-haves

• Ability to work independently and in collaboration with other team members.
• Ability to effectively communicate with stakeholders.
• Lead strategic cross divisional discussions, deploying appropriate methodologies and governance tools, to drive the timely delivery of analysis and agreed approach.

Benefits

• Health insurance
• Dental insurance
• 401(k)
• Flexible spending account
• Vision insurance
• Tuition Disbursement and Reimbursement
• College Loan Pay Down Program