Compliance Testing Manager

Company: Fifth Third Bank
Location: Cincinnati
Posted on: September 4, 2024

Job Description:

Make banking a Fifth Third better

We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank.GENERAL FUNCTION:Partners with Compliance Director in advocating and facilitating the development, implementation, communication, and maintenance of the corporate-wide Compliance Risk Management (CRM) testing program. Responsible for leading and/or managing targeted compliance reviews to determine whether the Bancorp's products and processes comply with applicable regulatory requirements (i.e. B, C, D, E, H, Q, DD, CC, M, U, X, Y, Z, HOEPA, UDAAP, FCRA and SCRA). Evaluates efficiency and effectiveness of existing programs, processes, and control within departmental operations and propose and implement solutions. Provide reporting and actively engage Executive leadership to communicate the results of testing and any instances of non-compliance along with guidance toward corrective action of the identified issue root cause.Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.ESSENTIAL DUTIES AND RESPONSIBILITIES:Testing- Collaborate with the Compliance Director on the overall management and execution of the Bank's compliance testing program to ensure it is effective, efficient and scalable so that it is well positioned to meet the changing risk environment and can quickly adapt to changing priorities.- Analyzes data by numerous delivery channels, geographic area, product types, facility, and even employee or officer to identify risks and develop and recommend scope or target for the review, corrective action/or performance gap closure. Develops and executes strategies for closing gaps in performance.- Oversees evaluations of Line of Business compliance processes and procedure effectiveness across LOB.- Ensures testing progression against the annual test schedule and escalates potential roadblocks timely.- Review compliance risk assessment and ensure testing scope and attributes evaluate key risks identified on the risk assessment during periodic reviews.- Explain, communicate and discuss regulatory findings with Compliance partners and LOB leadership. Identify the root cause and help to recommend an appropriate corrective action. Obtain agreement with business partners regarding issue complexity and issue resolution prior to issuing the report.- Review management responses for appropriateness. Ensure management responses mitigate the risk of the exception and address the root cause. Ensure issues identified through testing are tracked and accounted for in the PPM system.- Develop and report findings to Senior Management regarding their business lines (Legal, Audit, and Senior level Operating Committees).Management- Provide leadership, motivation, coaching and assessment to ensure optimum team and individual performance in support of department, division and Bancorp goals.- Lead and manage staff at various levels, with accountability for hiring, on-boarding, training, coaching & development.- Complete performance reviews, talent assessments, other daily managerial duties and any additional duties as assigned.- Guide the Compliance Officers in developing the test scope and test plan, as needed.- Provides leadership, coaching, and assessment to ensure optimum team and individual performance in support of department, division, and Bancorp goals.- Ensure team completes appropriate Compliance training timely and identifies resources for relevant training.- Reward and recognize team members for their contributions and accomplishments.Other- Responsible for developing, strengthening, and implementing the compliance testing program to ensure compliance with existing laws and regulations, including governance, policies and procedures, monitoring, reporting, communications, and education.- Assists in the development of strategic CRM goals and tactical and strategic planning systems.- Serves on various task forces or discussion groups to address compliance related issues.- Identifies opportunities, establishes action plans, and drives solutions to continuously improve compliance program, and increase efficiency.- Seek process improvements by re-assessing compliance testing functions and approaches taking into account resources, subject matter expertise, prior testing results, regulatory changes and LOB process changes.- Works with Sr. Leadership to set strategic direction for department and executes on those goals and objectives.- Initiates and facilitates collaborative alliances with corporate partners to ensure Line of Business compliance program is adequately managed.- Participates and/or leads regular meetings with peers to build and maintain knowledge of current and emerging issues and risk in the environment.- Builds industry relations through industry networking.- Partners with Director on identifying and/or developing training and continuing education programs for the testing team as it relates to specific laws and regulations.- Maintains a cutting edge awareness of division goals, regulatory and legislative developments, and industry trends.- Participate in testing-related projects as they arise such as providing documentation in response to an internal audit or external exam.- Assumes additional responsibilities and leads special projects as assigned.SUPERVISORY RESPONSIBILITIES:Manages staffing to ensure optimal performance in meeting the Risk Management Division's goals and the objectives of contributing to the Bancorp continued success in the Financial Services Industry. Assists in the recruiting process; conducts interviews and provides candid, timely feedback. Ensures proper orientation formal and informal for assigned employees. Identifies challenging work assignments, mentoring and education programs to giveemployees exposure to proactive problem solving throughout the company. Develops and maintains ongoing two-way timely and clear performance feedback to maintain healthy, proactive work relationships. Encourages open dialogue that promotes creative and out of the box problem solving skills. Researches and supports participation in leadership and skills based training for all staff levels. Participates in the mentoring program to help staff and senior auditors reach their professional goals. Aggressively prepares all levels of staff for future.MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:-Education: Bachelor's degree or equivalent work experience required.-Computer/Technical: Demonstrates working or functional proficiency sufficient to apply the useof software applications (Micro-Soft Office Suite) without assistance and minimal supervision.-Able to understand and conceptualize basic statistical analysis and theories. Solid experience in manipulating (validating, correcting, reformatting, and transforming) data into more than one format, (e.g. spreadsheets, flat files, databases, etc.)-Strong analytical skills required to gather, assesses and present quantitative and qualitative data.-Able to develop and support conclusions and make practical recommendations to the business lines and/or Affiliates. Ability to develop and implement controlled, systematic step-by-step processes based on guidance and procedures-Ability to work independently and in a team to plan and accomplish a project or elements of a project (complexity of project scope to depend on seniority), identifying responsibilities, tasks, deadlines and pursuing their timely completion.-Advanced understanding of consumer finance and of Fifth Third Banking products, business lines, Affiliate structure and operations, and Corporate support organization. Including, the bank's management teams and decision-making operations.-Ability to work with a team, to identify and solve problems or resolve issues, including members from other units such as the Legal Department, Audit Department, or Business Unit.-Strong understanding of the OCC, Federal Reserve and Consumer Financial Protection Bureau (CFPB) examination standards and general regulatory issuances.-Advanced understanding of the operations and interdependencies of the Affiliates and Bancorp. Including back-office operations.-Advanced understanding of Fair Lending and Responsible Banking laws and regulations.-Excellent oral and written communication skills. Effectively communicates upward, downward and laterally. Displays a positive business presence with management and external contacts.-Must be able to demonstrate sound judgment and apply logical and critical thought processes when developing and recommending solutions.OTHER SKILLS:-Possesses ability to maintain professional composure in a dynamic work environment that often requires the management of multiple and competing priorities.-Demonstrates willingness to be a contributing and engaged member of team by sharing knowledge, working towards common goals and maintaining a positive attitude. Capable of establishing effective work relationships with peers and credibility with superiors and customers.-Establish, foster and maintain working relationships with peers and supervisory management within the Division, business lines and Information Technology support.-Full adherence to Fifth Third's Core Values of Integrity, Teamwork and Collaboration, Respect and Inclusion, and Accountability required.WORKING CONDITIONS:-Normal office environment with little exposure to dust, noise, temperature and the like.-Extended viewing of a CRT screen.-Please see Compliance Job Matrix for other key differences between Responsible Banking; CRA; Lending Compliance; Governance & Review; Specialty, BSA/AML; Financial Products Compliance.-Depending on position requirements some roles may require NASD licensing.All the above duties and responsibilities are essential job functions for which reasonable accommodation will be made. Alljob requirements listed indicate the minimum level of knowledge, skills and/or ability deemed necessary to perform the jobproficiently. This position description is not to be construed as an exhaustive statement of duties, responsibilities orrequirements. Employees may be required to perform any other job-related instructions as requested by their supervisor,subject to reasonable accommodation.Compliance Testing ManagerLOCATION -- Cincinnati, Ohio 45227Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.

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