VP Compliance Management

FINWISE BANK•Murray, UT

5d•Remote

About The Position

The VP of Compliance Management role, reports to the Bank’s Chief Compliance & Risk Officer and Corporate Counsel (“CRCO”) on the adequacy of the Bank and Strategic Partner’s wholistic compliance profile. As the VP of Compliance, this position is responsible for the compliance oversight of the Bank’s business lines, including its Strategic Partners (“SPs”). This position is responsible for the pillars of the Bank’s Compliance Management System (“CMS”) and mitigating compliance risks for the Bank. The VP of Compliance directs the Bank stakeholders and SPs on CRCO’s behalf; therefore, discretion and professionalism are of the utmost importance.

Requirements

Knowledge of Federal Regulations and how regulations apply to bank programs; including: UDAAP, ECOA/Fair Lending, TILA, TISA, FCRA/FACTA, Privacy (GLBA / RFPA), SCRA, MLA, ESIGN, FDCPA, TCPA, CAN-SPAM, EFTA, EFAA, and other deposit regulations, & lending laws and regulations.
Knowledge and/or experience with federal regulatory requirements for Private Education Loans, including compliance covering special disclosure standards and operational limitations for private education lending.
Skill in presenting and communicating information.
Excellent written and verbal communication skills.
Skill in leading and supervising.
Skill in formulating strategies and concepts.
Ability to plan, organize, and prioritize.
Skill in project management.
Knowledge of federal regulatory compliance and corporate risk.
Knowledge and understanding of the CMS framework.
Ability to effectively present and represent the Bank’s interests externally with Strategic Partners and Regulators.
Experience working with auditors and regulators (e.g., FDIC, UDFI).
Excellent interpersonal skills and the ability to perform effectively with members of different departments as a team.
Demonstrate critical thinking and problem solving on a consistent basis.
Demonstrate creative leadership by identifying valuable innovative ideas and will possess the ability to implement them.
Inquisitive and analytical problem solver with initiative and ability to work independently.
Ability to read, analyze and interpret professional journals, technical procedures, governmental regulations, and legal documents.
Ability to understand and discuss detail, but also to develop and manage high-level plans and strategies.
Attentive to detail while maintaining an understanding of the broader goals and objectives.
Ability to analyze, manage and resolve complex issues with attention to detail.
Strong influencing skills and perseverance in investigating.
Demonstrates high integrity and excellent judgement.
Bachelor’s degree in Business Administration, Finance, or related field; or equivalent related experience.
Four or more years of experience working in a bank, legal, or other financial industry.

Nice To Haves

Master’s degree or JD degree with emphasis in business, compliance, or related field.
Demonstrated ability to manage and lead.
Experience working directly with regulators.

Responsibilities

Act on CRCO's behalf in discussions with stakeholders and SP's.
Oversee the Compliance Management team and CRA Officer.
Review legal records such as cardholder agreements, promissory notes, for accuracy and adequacy, before in-house counsel review.
Act as the Compliance subject matter expert for all projects proposed by the Bank stakeholders.
Update, implement, document, and maintain FinWise Bank’s compliance related policies and procedures.
Develop the annual training plan with bank stakeholders.
Work closely with the Director of Compliance Testing to adopt regulatory appropriate testing for SP’s and Bank products.
Continuously improve upon the complaint management process, including the trending and reporting functionality to the Board and Compliance Committee.
Responsible for wholistic compliance governance across the organization.
Ensure accurate and complete compliance issue tracking, trending, and reporting.
Assess and mitigate compliance risks and ensure those risks are appropriately reported through risk registers and that controls are appropriately weighed to mitigate the identified risks.
Oversee the regulatory change management team.
Validate that SP’s conduct compliance audits annually as appropriate.
Develop and support plans that provide for the on-going development and implementation of the compliance oversight of the Bank’s product offerings.
Ensure appropriate personnel are hired as necessary based on the Bank product offerings.
Manage regulatory change processes for the Bank’s product offerings.
Lead and support efforts to integrate the Compliance Program into the FinWise Bank’s culture and operations.
Maintain comprehensive understanding of the assigned business lines, including Loan Programs, SP CMS, and operating environments.
Prepare reports on the operation of the compliance management function for the Board and committees.
Provide coaching and mentoring for CMs, including the preparation of annual performance evaluations.
Regularly review completion and quality assurance of work completed by CMs in their oversight of assigned business lines and SPs.
Serve as the secondary liaison for all compliance examinations (FDIC/UDFI) or other audits or examinations as required.
Coordinate with department directors and managers, legal counsel, and the Human Resource Department as necessary and applicable in the execution of the Compliance Management function.
Serve and present to the Bank’s Audit, Compliance, Program Risk, and Third-Party Risk Management Committee meetings and provides input on compliance issues.
Support the updating of policy and procedures with current compliance information.
Support effective communication and interaction of the Compliance Department with other Bank departments and external stakeholders.
Attend and participate in off-site training events and SP site visits.
Complete compliance and regulatory due diligence and onboarding process of new programs and partners.
Develop and complete risk assessments on new products and services.
Conduct secondary management reviews over all student lending products.
Support the CRCO in identifying and mitigating compliance, regulatory, and reputational risks for the Bank, and managing said risks effectively.
Coordinate with the Training department to effectuate compliance training completion.
Execute the retraining of staff who fail training.
Complete additional tasks not listed as appropriate.