BSA & REGULATORY OFFICER - WATERFORD

First BanCorp•Miami, FL

3d•Onsite

About The Position

This role supports the implementation and administration of FirstBank’s Regulatory Compliance Management System under the direction of the Corporate Compliance Department. Provides regulatory compliance guidance to Florida business units, ensuring adherence to applicable federal and state consumer protection laws, regulations, and internal policies and procedures. Assists with compliance regulatory examinations, internal audits, complaint management, compliance training and regulatory change initiatives. Supervises the BSA Compliance Specialists and Analysts assigned to the Florida region, including assigning, reviewing, and monitoring work to ensure the effective execution of compliance activities and achievement of departmental objectives.

Requirements

Bachelor’s degree and MBA are preferred (or equivalent experience) or Juris Doctor Business, Finance, Accounting, Economics, Juris Doctor, or related field). Together with specialized regulatory compliance expertise.
5-8 years Compliance position in the Banking Industry.
Or the equivalent combination of Education and Experience needed to be able to perform the functions of this job.
Regulatory issues advising capacity High
Ability to work in a fast-paced and stressful environment High
Strong analytic skills High
Strong interpersonal communication, leadership and teamwork oriented High
Strong written, verbal, and presentation communication skills (both preparer and facilitator) in English and Spanish, including the ability to produce clear, concise, exam-defensible documentation and deliver effective management reporting and stakeholder presentations High
Problem solving, detail oriented High
Maintains and promotes a high standard of confidentiality and strong ethical values High
Fluent in English and Spanish High
Able to work with a minimum of supervision High
Organization and prioritization skills High
Proficient in Excel, Word, Outlook, Power Point High
Sound judgment and proper criteria for establishing priorities correctly High
Must be able to work several important projects simultaneously observing excellence quality standards. High
Analyze business needs and understand the operational workflow. High
CAMS Certified Anti-Money Laundering Specialist

Nice To Haves

MBA (or equivalent experience) or Juris Doctor
Fluent in English and Spanish

Responsibilities

Supports the administration of FirstBank’s Regulatory Compliance Management System under the direction of the Corporate Compliance Department. Assists the Puerto Rico Regulatory Compliance and BSA/AML Departments in providing regulatory compliance and BSA/AML guidance to Florida business units. Assists with daily consultations and document reviews, regulatory inquiries, implementation of regulatory requirements and internal procedures requirements to support ongoing compliance objectives.
In coordination with the Corporate Compliance Department, identifies, assesses, and communicates actual or potential compliance risks affecting Florida business units. Provides regulatory guidance and recommends corrective actions and risk mitigation strategies to ensure compliance with applicable laws, regulations, and internal policies.
Partners with the Corporate Compliance Department developing and implementing action plans that address compliance weaknesses, mitigate regulatory risk, and strengthen compliance controls and processes.
Supports the BSA/AML, Regulatory Compliance, Fair Lending, CRA, and Legal Regulatory functions through participation in special projects and regulatory initiatives, assisting with the implementation of compliance programs and risk management objectives as assigned by the Regulatory Manager and/or BSA Officer.
Provides timely regulatory guidance and subject matter expertise to Florida management and business units regarding regulatory developments, regulatory changes, industry best practices, and emerging compliance risks. Facilitates the implementation of regulatory requirements and supports the adoption of consumer compliance laws and regulations applicable to the Florida market.
Develops, reviews, and delivers regulatory compliance training programs, compliance bulletins, and guidance materials to business and support units. Maintains training records, databases, attendance reporting, and related compliance documentation to ensure accurate tracking and regulatory readiness.
Assists the Regulatory Compliance Manager in preparing and maintaining management and committee reporting, including compliance metrics, risk assessments, scorecards, action plan tracking, task logs, regulatory updates, and other reports required to support management oversight and governance functions.
Reviews, drafts, and provides regulatory compliance oversight for agreements, consumer disclosures, customer communications, operational notices, new products and services, and other documentation that may present regulatory compliance implications for the Florida region.
Performs regulatory compliance reviews and approvals of marketing campaigns, advertising materials, promotional programs, and product development initiatives to ensure compliance with applicable federal and state laws, regulations, and internal policies.
Coordinates with Florida business and operational units in the management, investigation, resolution and timely response of federal agencies consumer complaints, including complaints received through federal and state regulatory agencies. Supports management reporting, complaint trend analysis, and the implementation of corrective actions when necessary.
Provides regulatory compliance support to the Fair Lending and Community Reinvestment Act (CRA) Programs within the Florida region, collaborating with applicable business units and compliance partners to ensure adherence to regulatory requirements and support program objective.
Reviews Florida Region written procedures and operational processes from a regulatory compliance perspective. Ensures procedures remain current and compliant with applicable laws, regulations, regulatory guidance, and corporate standards, while recommending modifications necessary to address regulatory changes, mitigate compliance risk, and enhance the effectiveness of internal controls.
Supervises and evaluates the performance of the BSA Compliance Specialist and Transaction Monitoring Analysts assigned to the Florida Compliance Unit, ensuring the timely and effective execution of assigned responsibilities and adherence to established departmental objectives.
Assigns, distributes, and revises the work of the BSA Compliance Specialists and Analysts.
Supports the BSA Officer in establishing procedures and processes BSA/AML related particularly to the Florida Region.
Oversees, prepares and performs the following functions related to BSA/AML; (i) supervise the second level review of Florida suspicious activity investigations performed by the Corporate Compliance Unit; and (ii) review and approval account opening exceptions requested by the region’s Business Units and the Foreign Individual Accounts (iv) serves as a primary liaison between the BSA FIU Unit and the region obtaining explanations or supporting information supplementing the investigations process as well as in following up on the ARC cases, (v) serve as a liaison between the High Risk Customers Unit and the region, assuring timely completion of the OPBs among others.
Support remediation efforts and monitoring plans for identified regulatory compliance or BSA/AML gaps or findings.
Assists the Compliance Manager and BSA Officer during compliance examinations performed by a federal agency.
Assist in CRA & Fair Lending quality assurance processes and related reporting activities.
Support corporate compliance projects, ensuring appropriate design, implementation, and tracking of deliverables. Additionally, assist Corporate Compliance Departments during examinations and internal audits.
Identify and implement opportunities to improve processes, workflows, and system efficiencies.
Prepare committee-level reporting materials and regulatory summaries.
Ensure compliance unit operations meet established quality, timeliness, and regulatory standards.
Foster employee engagement through feedback sessions, recognition initiatives, and team-building activities.
Maintain communication with Management regarding team performance, risks, and operational challenges