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We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank.
We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank.
GENERAL FUNCTION:
Responsible for the continued development and implementation of the Bancorp's compliance programs and management of the related Compliance Managers and teams, including ensuring compliance with Federal laws and regulations and industry standards. Responsible for providing strategic leadership / direction / oversight regarding the Bancorp's compliance risk management programs, including policies, testing, reporting, and control framework. The incumbent is responsible for analyzing current and emerging regulatory trends and proposing and implementing recommendations or system solutions to mitigate identified risk. This position is also responsible for team member development and employee engagement.
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 Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
ESSENTIAL DUTIES & RESPONSIBILITIES:
- Direct, Develop and Oversee the strategic aspects of the compliance programs. this includes overseeing policies and procedures, testing programs, and the employee Education programs for the Bancorp.
- responsible for the management, direction and oversight of Federal laws and regulations.
- Oversee / Direct the execution of the Bancorp compliance risk Assessment for the compliance programs.
- Serve as a key contact with bank regulators for compliance exams (develop and maintain relationships, facilitate discussions, demonstrate strategic leadership regarding the program and future initiatives).
- Provide periodic Reports to senior management and board Committees on industry trends, state of the compliance programs and the status of Key initiatives.
- Develop and maintain relationships between compliance risk management and associated line of business leaders to ensure the implementation of effective compliance programs across the Bancorp and related Lines of business. Actively promote a solution-oriented environment throughout the department.
- Provide compliance subject matter expertise and sponsorship for Lines of business and Bancorp projects, processes, and products.
- Work with Lines of business Compliance Managers and officers to identify policy and procedural enhancements. in reference to new products and new initiatives work with the teams to ensure proper Assessment of the risk, the planning of Controls and the adequate execution of those controls.
- Maintain networks with industry working groups that are dedicated to bank compliance to benchmark and share best practices.
- Provide leadership, motivation, coaching and Assessment to ensure optimum team and individual performance in Support of department, division and Bancorp goals.
- Maintain a cutting edge awareness of company goals, Regulatory and legislative developments, and industry trends.
- Leads and directs the analysis of policies and procedures, including scoring systems, strategic priorities, market share data, trends, external influences, current regulatory focuses, previous examination findings, and input from Audit and Legal.
- Conducts interviews and discussions with senior level managers to Understand process, guidelines and Technology platforms.
- Analyzes data by numerous delivery channels, geographic area, product types, facility, and even employee or officer to identify risks and Develop and recommend scope or target for the Review, corrective action/or performance gap closure. Develops and executes strategies for closing gaps in performance.
- Assess the adequacy of the business units'/affiliate's 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 closely with Sr. leadership to Set strategic direction for department and executes on those goals and objectives.
- Participates and/or Leads regular meetings with peers to Build and maintain knowledge of current and emerging issues and risk in the environment.
- Reviewing and approving recommended solutions for the Regulatory Monitoring and Change management Program ownership.
- Review and address concerns from compliance testing results.
- Contribute updates to the compliance risk assessment.
- Support post-implementation validation based on risk rating.
- Reviews reporting from the Councils for use by the Regulatory Change management Committee.
- Areas of responsibility and accountability within compliance Include: consumer, commercial, Wealth & asset management, testing & practices, financial Crimes and all other relevant and applicable laws and regulations
MINIMUM KNOWLEDGE, SKILLS & ABILITIES REQUIRED:
- Bachelor's degree required/ Juris Doctorate preferred .
- Must have 10 plus years’ experience in compliance/legal and preferably specific experience in the Registered Investment Advisor space.
- Demonstrates working or functional proficiency sufficient to apply the use of software applications (Micro-Soft 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.
- 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.
- Advanced understanding of Investment Advisors Act of 1940 including in the SEC Marketing Rule
- Strong understanding of Private Fund regulatory requirements
- Ability to help coordinate SEC examinations
- Familiarity with three lines of defense Risk Management model
- Excellent oral and written communication skills. Effectively communicates upward, downward and laterally. Displays a positive business presence with management and external contacts
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This position will be posted through 4/22/2024
WORKING CONDITIONS:
- Normal office environment with little exposure to dust, noise, temperature and the like.
- Extended viewing of a CRT screen.
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.
