Senior Vice President, Consumer Compliance Officer (Global Payments & Trade)

BNY Mellon•Jersey City, NY

50d•Onsite

About The Position

We’re seeking a future team member for the role of Senior Vice President, Consumer Compliance Officer – Global Payments & Trade. to join our Risk & Compliance team. This role is located in Pittsburgh, PA or Lake Mary, FL. In this role, you’ll make an impact by independently contributing to the compliance efforts focusing on consumer banking and working with multiple assigned business teams. You will be responsible for assisting the business teams to ensure compliance with BaaS industry best practices and regulation, and for identifying areas for improvement in BNY’s BaaS compliance framework. The candidate must exhibit an aptitude for assessing regulatory consent orders, enforcement actions, notices of proposed rulemaking and have experience with interacting with regulators such as the NYDFS, FRB, OCC, and CFPB. The candidate may have experience in supporting BaaS products that include services and features such as debit card issuance and acquiring, BIN sponsorship, and FDIC insurance across a broad suite of clients such as NBFIs, FinTech's, Corporates, MSBs, Broker Dealers, and Life Insurance companies. You will be responsible for assisting the business teams to ensure compliance with consumer banking and payments regulations and policy, inclusive of Regulation E, NACHA and other state and federal payment rules. You must also have expertise including, but not limited to: UDAAP, Expedited Funds Availability Act (Regulation CC), Truth-in-Savings Act (Regulation DD), Truth-in-Lending Act (Regulation Z), Equal Credit Opportunity Act (Regulation B), Gramm-Leach Bliley Act and other consumer privacy protections, Federal garnishment rules for accounts into which federal benefit payments are deposited, Escheatment, Regulation II, and consumer protection provisions in card network rules and other applicable payment network rules. In partnership with business managers and internal stakeholders, you will review new products to ensure compliance with applicable laws and regulations as well as alignment with BNY’s own risk tolerance. This includes the development of compliance monitoring and reporting for BaaS and Consumer products. Based on assessments of controls, you will work with business teams to implement improvements including the completion of appropriate documentation when control changes are made. This may include the drafting or review of updated policies, procedures, or matrices.

Requirements

Aptitude for assessing regulatory consent orders, enforcement actions, notices of proposed rulemaking.
Experience with interacting with regulators such as the NYDFS, FRB, OCC, and CFPB.
Expertise including, but not limited to: UDAAP, Expedited Funds Availability Act (Regulation CC), Truth-in-Savings Act (Regulation DD), Truth-in-Lending Act (Regulation Z), Equal Credit Opportunity Act (Regulation B), Gramm-Leach Bliley Act and other consumer privacy protections, Federal garnishment rules for accounts into which federal benefit payments are deposited, Escheatment, Regulation II, and consumer protection provisions in card network rules and other applicable payment network rules.
Bachelor’s degree or the equivalent combination of education and experience is required.
More than 5 years’ experience in consumer compliance industry.
Financial Services, Audit or Compliance background and/or experience with consumer banking compliance and the pertaining laws, regulations and rules of relevant regulators.

Nice To Haves

Experience in supporting BaaS products that include services and features such as debit card issuance and acquiring, BIN sponsorship, and FDIC insurance across a broad suite of clients such as NBFIs, FinTech's, Corporates, MSBs, Broker Dealers, and Life Insurance companies.
JD or comparable graduate degree preferred.
Comfortable hosting discussions and leading presentations with an Executive audience.

Responsibilities

Independently contributes to the compliance efforts focusing on consumer banking and working with multiple assigned business teams.
Responsible for assisting the business teams to ensure compliance with BaaS industry best practices and regulation, and for identifying areas for improvement in BNY’s BaaS compliance framework.
Assisting the business teams to ensure compliance with consumer banking and payments regulations and policy, inclusive of Regulation E, NACHA and other state and federal payment rules.
In partnership with business managers and internal stakeholders, reviews new products to ensure compliance with applicable laws and regulations as well as alignment with BNY’s own risk tolerance.
Development of compliance monitoring and reporting for BaaS and Consumer products.
Based on assessments of controls, works with business teams to implement improvements including the completion of appropriate documentation when control changes are made.
Contributes to the development of projects and programs to improve compliance and enhance the control environment.
Uses strong partnerships with managers in the business teams to respond to reports issued by regulatory agencies or audit.
Helps prepare risk-based reviews of new and existing clients seeking to use BNY’s BaaS services or consumer-related products.
Facilitates compliance calls with clients and prospects.
Contributes to the preparation of time sensitive reporting and appropriately escalates issues to management.