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Regulatory Compliance Risk Manager

  • Job
    Full-time
    Senior Level
  • Banking & Finance
  • $138.2K - $207.4K
  • New York City

AI generated summary

  • You need a Bachelor’s degree, 6+ years of work experience in regulatory compliance, certification, technical expertise, consumer protection knowledge, operational understanding, compliance testing/auditing/training experience, regulatory guideline familiarity, and strong communication/analytical skills.
  • You will oversee engagements, manage business development, lead testing teams, mitigate risks, build client relationships, research regulatory changes, develop thought leadership, communicate with clients and regulators, mentor staff, and recruit talent.

Requirements

  • Bachelor’s degree in Accounting, Economics, Finance, Information Technology, Risk Management, or related field required
  • Minimum 6 years of related work experience working in regulatory compliance, risk or internal audit departments at commercial/retail banks, federal regulatory agencies, or other financial institutions, in a similar consulting practice
  • Certification required, CPA, CRMA, CCEP, CRMP, CIA, Certified Federal Bank Examiner, Attorney (concentration in banking law, securities law, financial services regulation, or similar), or related license/certification, CRCM certification preferred
  • Proven technical ability handling compliance issues
  • Knowledge of consumer protection principles, compliance management systems, compliance risk management, consumer protection laws (TILA, ECOA, RESPA, Flood Insurance, HMDA, FDCPA, FCRA, UDAAP, TISA, EFTA, EFAA, SCRA, MLA, Privacy, Fair Lending etc.)
  • Understanding of consumer financial products and disclosures, including transaction accounts, savings deposits, time deposits, prepaid cards, mortgages, home equity loans/lines of credit, credit cards, auto loans, student loans, personal loans/lines of credit and overdraft services
  • Knowledge of operational processes, systems, and controls relating to consumer financial products
  • Practical experience involving compliance testing, compliance audits, compliance training, data analytics at banks and financial institutions of various types and sizes
  • Familiarity with regulatory guidelines including but not limited to CFPB, FDIC, FRB, OCC, and NCUA compliance examination procedures.
  • Strong oral communication, written communication, organizational, technical, and analytical skills
  • Excellent teamwork and collaboration skills
  • Can travel as needed

Responsibilities

  • Perform engagement oversight responsibilities, including performance reviews, task delegation, project scheduling, project financials, quality review and client management
  • Manage business development activities, such as proposals, capture, account teams, whitepapers, conferences, and/or other thought leadership material
  • Manage testing team for Consent Order Validation and independent monitoring engagements, responsible for managing and execution of testing to verify clients address issues identified and meet requirements set forth by regulators.
  • Manage development of, and completion of, engagement and testing activities
  • Manage and minimize engagement risk by proactively identifying issues and recommended courses of remediation
  • Maintain a good working relationship with clients and work effectively with client management and staff at all levels to gather information and perform services
  • Build, maintain, and utilize networks of client relationships and industry involvement and communicating our value proposition
  • Research, analyze, understand current marketplace issues and emerging regulatory requirements and guidance
  • Develop thought leadership and whitepapers on emerging regulatory and risk requirements.
  • Communicate externally with clients, regulators, and internally with all levels of the organization.
  • Participate in and assist leading communications and meetings with client and regulators to discuss status and results of testing activities, including issues identified.
  • Manage, develop, train, mentor staff on projects and assess performance for engagement and year-end reviews
  • Actively participates in recruiting top talent to the firm
  • Other duties as assigned

FAQs

What qualifications are required for the Regulatory Compliance Risk Manager position?

The qualifications required for the Regulatory Compliance Risk Manager position include a Bachelor’s degree in related fields such as Accounting, Economics, Finance, Information Technology, or Risk Management, along with a minimum of 6 years of work experience in regulatory compliance, risk, or internal audit roles at financial institutions. Specific certifications such as CPA, CRMA, CCEP, CRMP, CIA, Certified Federal Bank Examiner, or related licenses/certifications are also required, with CRCM certification being preferred.

What kind of technical skills should a Regulatory Compliance Risk Manager possess?

A Regulatory Compliance Risk Manager should have technical skills in handling compliance issues, knowledge of consumer protection principles, compliance management systems, regulatory guidelines, and operational processes related to consumer financial products and disclosures. Practical experience in compliance testing, audits, training, and data analytics at financial institutions of various types and sizes is also necessary. Strong communication, organizational, technical, and analytical skills are essential, along with the ability to work collaboratively in a team environment.

What are the key responsibilities of a Regulatory Compliance Risk Manager?

The key responsibilities of a Regulatory Compliance Risk Manager include performing engagement oversight, managing business development activities, leading testing teams for consent order validation and monitoring engagements, developing compliance optimization strategies, maintaining client relationships, researching and analyzing regulatory requirements, developing thought leadership materials, and assisting in communication with clients and regulators. Additionally, mentoring and training staff, participating in recruiting efforts, and other duties as assigned are part of the role.

Is travel required for the Regulatory Compliance Risk Manager position?

Yes, the Regulatory Compliance Risk Manager may need to travel as needed for client meetings, engagements, and other business-related activities. Flexibility in travel is expected to effectively fulfill the responsibilities of the role.

Audit, tax and advisory are just the beginning.

Accounting
Industry
5001-10,000
Employees
1924
Founded Year

Mission & Purpose

Grant Thornton LLP provides audit, tax, and advisory services to clients across various industries. Their ultimate aim is to deliver tailored, innovative solutions that help businesses navigate challenges, enhance performance, and achieve sustainable growth. Grant Thornton's purpose is to build lasting relationships by offering personalised expertise, fostering trust, and making a positive impact on clients' success.