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GENERAL FUNCTION:
Responsible for conducting testing in accordance with the Compliance Testing Standards and Operating Procedures to ensure compliance with state and federal laws, rules, and regulations. Prepare reporting and actively engage senior LOB leadership to communicate the results of testing and any instances of non-compliance along with guidance toward corrective action of the identified issue root cause. Works mostly self-directed, with minimal supervisory oversight. Also works within department and cross-department teams.
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. Foster an engaging and inclusive work environment. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Conduct reviews of various processes, identifying regulatory compliance risk and testing controls to ensure they adequately mitigate risk
- Execute testing responsibilities in accordance with CT Operating Procedures. Drive reviews with minimal oversight and assistance.
- Develop review timeline from planning to completion that aligns with, and allows for, the completion in accordance with the annual test plan.
- Conduct extensive research (regulatory, prior audits, previous compliance reviews, open issues, industry guidance, etc.) to understand testing environment and aid in development of testing scope.
- Ensure continuous improvement through the identification and implementation of industry best practices. Acquires appropriate level of information to stay current on regulatory changes.
- Develop testing scope and corresponding documentation for review and approval from the compliance manager/director.
- Design test plan/scripts to complete required testing. Conduct walkthroughs as needed and request documentation according to CT Testing Standards. Challenge prior testing processes as appropriate and ensure risks are being effectively tested. Ensure compliance controls are working as designed.
- Actively evaluate opportunities to enhance testing methodology and results as part of our continuous improvement e.g. collaborate with data analytics to incorporate automation in to testing where applicable
- Document testing performed by establishing and maintaining comprehensive workpapers that clearly describes the testing methodology and displays the testing results. Ensure workpapers are supported by source documentation, exceptions are clearly documented, and steps to execute is clearly defined. Assists team members to enhance test scripts, challenge testing performed, and ensure CT Standards are adhered to.
- Accurately identify exceptions/issues/process weaknesses and their root cause. Communicate testing concerns with process owners and Compliance Partners to ensure exceptions are accurate and complete and all necessary documentation is maintained. Develop recommendations for corrective action.
- Draft management reports, including root cause analysis and required corrective action. Ensure Issue and action plans adhere to Compliance Issue Management standards and management responses mitigate the risk of the exception.
- Work with the LOB and Compliance Partners to ensure corrective action is completed timely and that the action was effective in remedying the risk to an acceptable level. Complete timely Issue input, tracking, follow-up, and validation per defined department SLAs.
- Contribute to the execution of compliance risk controls to insure effectiveness and timely resolution to minimize potential finding by external regulatory agencies or internal audit.
- Partner with Manager and/or Director to ensure timely responses to all Regulatory Examination Requests. Conduct thorough research to validate responses and/or documentation provided is accurate and reflective of the request.
- Conduct and/or respond to peer quality reviews objectively, timely and accurately.
- Plan, organize, and lead meetings with CRM Senior Management (CCO and Senior Director Level) or LOB Equivalent
- Attend and participate in departmental meeting including but not limited to, All Hands, lessons learned, and other team specific activities.
- Participates in continuing education programs to stay abreast of changing laws and regulations in the banking and financial industries. Identify opportunities and research options for career and/or personal development.
- Assist with onboarding and training of new team members as requested.
- Delivers timely communications necessary to complete job responsibilities. Keep the Manager and/or Director informed of all issues that would prevent you from meeting the timing requirements of the review.
- Develop and maintain effective working relationships with other business units, including but not limited to Compliance Partners, Business Controls and other teams involved in testing
SUPERVISORY RESPONSIBILITIES:
None
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:
- Education: Bachelor's degree or equivalent work experience required.
- One to Three (1-3) years of Compliance Testing or equivalent work experience.
- Computer/Technology: Proficient in MS Office Products (Excel, Power Point, MS Word) with minimal assistance and supervision.
- Ability to communicate in both written and verbal formats confidently and effectively.
- Able to understand and conceptualize basic statistical analysis and theories. With solid experience in manipulating (validating, correcting, reformatting, and transforming) data into more than one format, (e.g., spreadsheets, flat files, databases.).
- Critical thinking abilities for proactively identifying issues and actions required. Gather and integrate information from a variety of sources to make sound decisions. Collects and analyzes data to assess accuracy, validity, and integrity. Analyzes information and effectively integrates and interprets results. Make timely decisions and take action to address an issue.
- Demonstrates thorough understanding of regulatory knowledge of industry standards, federal, state, and local laws and regulations. Office of Comptroller of Currency and Consumer Financial Protection Bureau (CFPB) examination standards and general regulatory issuances, Unfair, Deceptive, or Abusive Acts or Practices (UDAAP).
- Able to identify, research and provide solutions to situations with potential regulatory impact.
- Demonstrate sound judgment and apply logical and critical thought processes when developing and recommending solutions.
- Ability to understand issues or concerns, listen to alternative viewpoints, ask follow-up questions, and efficiently communicate to team members and internal partners. Garners buy in from partners on issues or concerns.
- Able to efficiently manage multiple competing priorities at once. Able to deliver work on time with high quality consistently.
- Ability to proactively solve problems and make sound decisions. Able to remove barriers to solve problems with minimal assistance. Seeks assistance when uncertain and learns from mistakes.
- Able to embrace change to drive a continuous improvement culture by demonstrating commitment to organizational change efforts and personally proposing new approaches and methods to accomplishing work.
#LI-GM1
Compliance Officer I-Regulatory Compliance Testing
LOCATION -- Cincinnati, Ohio 45227
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.
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 conducting testing in accordance with the Compliance Testing Standards and Operating Procedures to ensure compliance with state and federal laws, rules, and regulations. Prepare reporting and actively engage senior LOB leadership to communicate the results of testing and any instances of non-compliance along with guidance toward corrective action of the identified issue root cause. Works mostly self-directed, with minimal supervisory oversight. Also works within department and cross-department teams.
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. Foster an engaging and inclusive work environment. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Conduct reviews of various processes, identifying regulatory compliance risk and testing controls to ensure they adequately mitigate risk
- Execute testing responsibilities in accordance with CT Operating Procedures. Drive reviews with minimal oversight and assistance.
- Develop review timeline from planning to completion that aligns with, and allows for, the completion in accordance with the annual test plan.
- Conduct extensive research (regulatory, prior audits, previous compliance reviews, open issues, industry guidance, etc.) to understand testing environment and aid in development of testing scope.
- Ensure continuous improvement through the identification and implementation of industry best practices. Acquires appropriate level of information to stay current on regulatory changes.
- Develop testing scope and corresponding documentation for review and approval from the compliance manager/director.
- Design test plan/scripts to complete required testing. Conduct walkthroughs as needed and request documentation according to CT Testing Standards. Challenge prior testing processes as appropriate and ensure risks are being effectively tested. Ensure compliance controls are working as designed.
- Actively evaluate opportunities to enhance testing methodology and results as part of our continuous improvement e.g. collaborate with data analytics to incorporate automation in to testing where applicable
- Document testing performed by establishing and maintaining comprehensive workpapers that clearly describes the testing methodology and displays the testing results. Ensure workpapers are supported by source documentation, exceptions are clearly documented, and steps to execute is clearly defined. Assists team members to enhance test scripts, challenge testing performed, and ensure CT Standards are adhered to.
- Accurately identify exceptions/issues/process weaknesses and their root cause. Communicate testing concerns with process owners and Compliance Partners to ensure exceptions are accurate and complete and all necessary documentation is maintained. Develop recommendations for corrective action.
- Draft management reports, including root cause analysis and required corrective action. Ensure Issue and action plans adhere to Compliance Issue Management standards and management responses mitigate the risk of the exception.
- Work with the LOB and Compliance Partners to ensure corrective action is completed timely and that the action was effective in remedying the risk to an acceptable level. Complete timely Issue input, tracking, follow-up, and validation per defined department SLAs.
- Contribute to the execution of compliance risk controls to insure effectiveness and timely resolution to minimize potential finding by external regulatory agencies or internal audit.
- Partner with Manager and/or Director to ensure timely responses to all Regulatory Examination Requests. Conduct thorough research to validate responses and/or documentation provided is accurate and reflective of the request.
- Conduct and/or respond to peer quality reviews objectively, timely and accurately.
- Plan, organize, and lead meetings with CRM Senior Management (CCO and Senior Director Level) or LOB Equivalent
- Attend and participate in departmental meeting including but not limited to, All Hands, lessons learned, and other team specific activities.
- Participates in continuing education programs to stay abreast of changing laws and regulations in the banking and financial industries. Identify opportunities and research options for career and/or personal development.
- Assist with onboarding and training of new team members as requested.
- Delivers timely communications necessary to complete job responsibilities. Keep the Manager and/or Director informed of all issues that would prevent you from meeting the timing requirements of the review.
- Develop and maintain effective working relationships with other business units, including but not limited to Compliance Partners, Business Controls and other teams involved in testing
SUPERVISORY RESPONSIBILITIES:
None
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:
- Education: Bachelor's degree or equivalent work experience required.
- One to Three (1-3) years of Compliance Testing or equivalent work experience.
- Computer/Technology: Proficient in MS Office Products (Excel, Power Point, MS Word) with minimal assistance and supervision.
- Ability to communicate in both written and verbal formats confidently and effectively.
- Able to understand and conceptualize basic statistical analysis and theories. With solid experience in manipulating (validating, correcting, reformatting, and transforming) data into more than one format, (e.g., spreadsheets, flat files, databases.).
- Critical thinking abilities for proactively identifying issues and actions required. Gather and integrate information from a variety of sources to make sound decisions. Collects and analyzes data to assess accuracy, validity, and integrity. Analyzes information and effectively integrates and interprets results. Make timely decisions and take action to address an issue.
- Demonstrates thorough understanding of regulatory knowledge of industry standards, federal, state, and local laws and regulations. Office of Comptroller of Currency and Consumer Financial Protection Bureau (CFPB) examination standards and general regulatory issuances, Unfair, Deceptive, or Abusive Acts or Practices (UDAAP).
- Able to identify, research and provide solutions to situations with potential regulatory impact.
- Demonstrate sound judgment and apply logical and critical thought processes when developing and recommending solutions.
- Ability to understand issues or concerns, listen to alternative viewpoints, ask follow-up questions, and efficiently communicate to team members and internal partners. Garners buy in from partners on issues or concerns.
- Able to efficiently manage multiple competing priorities at once. Able to deliver work on time with high quality consistently.
- Ability to proactively solve problems and make sound decisions. Able to remove barriers to solve problems with minimal assistance. Seeks assistance when uncertain and learns from mistakes.
- Able to embrace change to drive a continuous improvement culture by demonstrating commitment to organizational change efforts and personally proposing new approaches and methods to accomplishing work.
#LI-GM1
Compliance Officer I-Regulatory Compliance Testing
LOCATION -- Cincinnati, Ohio 45227
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.
