Compliance Manager-Commercial Lending - Cincinnati, United States - Fifth Third

Description

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GENERAL FUNCTION:

Assists Chief Compliance Officer in advocating and facilitating the development, implementation, communication, and maintenance of corporate-wide Compliance Risk Management (CRM). Responsible for all facets of the Line of Business compliance program to ensure full compliance with state and federal laws, rules, and regulations. Actively engaged and readily available to work with Executive Line of Business Division Head to address compliance matters. Manages Line of Business compliance staff.

Responsible for managing the identification and assessment of risks (and the execution of procedures to evaluate the Bancorp's compliance with laws, regulations and industry standards. Evaluates efficiency and effectiveness of existing programs, processes, and control within departmental operations and propose and implement solutions.

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 Banks risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Assists the Chief Compliance Officer with the overall management of the Bank's compliance program.
• Responsible for developing, strengthening, and implementing the line of business compliance program in compliance with existing laws and regulations, including governance, policies and procedures, monitoring, reporting, communications, and education.
• Initiates and facilitates collaborative alliances with line of business risk managers, affiliate management, and corporate partners to ensure line of business compliance program is adequately managed.
• Assists in the development of strategic CRM goals and tactical and strategic planning.
• Communicates significant issues to senior management.
• Serves on various working groups or discussion groups to address compliance related issues.
• Identifies opportunities, establishes action plans, and drives solutions to continuously improve compliance program, and increase efficiency.
• Partners with the Director of compliance, communications and training department to develop awareness, training, and required continuing education programs as it relates to specific laws and regulations.
• Builds industry relations through industry networking and maintains a cutting-edge awareness of division goals, regulatory and legislative developments, and industry trends.
• Assumes additional responsibilities and leads special projects as assigned.
• Participates in the analysis of commercial lending policies and procedures, including scoring systems, strategic priorities, market share data, lending trends, external influences, current regulatory focuses, previous examination findings, and input from Audit and conducts interviews and discussions with managers at all levels to understand the lending process, lending guidelines and technology platforms.
• Assesses the adequacy of the business units' recommended corrective action to the issues or gaps identified.
• Develops and reports findings to Senior Management regarding their business lines (Legal, Audit, and senior level operating committees).
• Works with senior leadership to set strategic direction for department and executes on those goals and objectives.
• Participates and leads regular meetings with peers to build and maintain knowledge of current and emerging issues and risks in the environment.
• Reviews and implements approved solutions for the Regulatory Monitoring and Change management program.
• Executes the annual compliance risk assessment and support post-implementation validation based on risk rating.
• Areas of responsibility and accountability within Compliance include:
  • Possessing an advanced understanding of regulations applicable to commercial lending, capital markets (preferred), Volcker (preferred).
  • Partnering with line of business and risk functions to ensure compliance with commercial regulations applicable to commercial products and processes.
  • Drafting and executing project plans related to compliance initiatives and escalating potential issues.
  • Collaborating with team members to draft annual group planning and presenting to Compliance leadership for review.
  • Spearheading the annual Compliance Risk Assessment.
  • Drafting and reviewing Compliance and lines of business trainings, policies, and procedures.

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 give employees 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 reach their professional goals. Aggressively prepares all levels of staff for future growth.

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MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

• Bachelor's degree or equivalent work experience required.
• Demonstrates working or functional proficiency sufficient to apply the use of software applications (Microsoft 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 commercial finance and of Fifth Third Commercial Banking and Mortgage 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 applicable regulations, including regulations applicable to commercial lending and capital markets.
• Advanced understanding of fair lending and responsible banking laws
• Excellent oral and written communication skills. Effectively communicates upward, downward and laterally. Displays a positive business presence with management and external contacts.

Fifth 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.