TowneBank
Affiliate Compliance Advisory Officer (Biotech)
TowneBank is a relationship and friendship driven local bank focused on basic human values that will serve to create a warm sense of belonging and financial well-being among our family of members. We are seeking an Affiliate Compliance Advisory Analyst to perform a key risk management role (second line of defense), designed to assist corporate initiatives and Lines of Business (LOB) processes comply with applicable laws and regulations. As the compliance liaison between the Towne Financial Services Group (TFSG) companies and the Bank, particular focus is required of regulations triggered by ownership by a financial institution and/or the integration of certain products and services with banking activities.
While working within the Compliance Management System, the Affiliate Compliance Advisor Officer is responsible for providing compliance advice to assigned TFSG LOBs, delivering quality results and executing or participating as part of the TowneBank Regulatory Compliance function. Affiliate company LOBs include; insurance, investments, real estate, title company, employee health benefit services, mortgage joint ventures and vacation property management companies. Additionally, the Compliance Advisory Officer is responsible for identifying themes and trends that may indicate potential weaknesses in compliance related processes or controls and reporting them to management as directed.
As an Affiliate Compliance Advisory Officer, you may look forward to:
• Developing and managing strong working relationships with LOB leadership.
• Being a Member of the Regulatory Compliance Committee representing TFSG companies with regard to regulatory compliance risk, mitigation efforts, complaints and incidents.
• Assisting with Compliance Risk Assessments of LOBs and respective products and services.Providing regulatory advice, challenge and oversight on compliance matters to
Corporate Compliance and LOB management.
• Identifying and containing compliance risk through the ongoing review and analysis of
monitoring program results, consumer complaints and external publications including
regulatory agency updates and enforcement actions.
• Advising LOB leadership on options for remediating regulatory compliance issues
identified through self-assessments, compliance monitoring, compliance control testing,
internal audits and regulatory examinations.
• Working with Regulatory Compliance Operations to ensure TFSG business lines
maintain adequate policies, procedures and training aligned with their annual
regulatory compliance risk assessment.
• Assisting lines of business with Third Party Vendor Risk Assessments on compliance
related items.
• Assisting Compliance leadership and LOB leadership with the handling, resolution and
reporting of consumer complaints.
• Providing regular reporting/escalation on TFSG Compliance Programs, projects, issues
and risks to LOB and Corporate Compliance leadership.
• Overseeing and maintaining the TowneBank Affiliate Entity Chart including keeping
an accurate and current index of affiliate entities, communicating changes and updates
to management.
• Collaborating with affiliate compliance professionals to implement identified rules and
regulations. Such implementation shall include, but is not limited to, development of
policy, procedures and training.
• Working with affiliate company leadership to complete permissibility documentation
requirements of new business activities where and when applicable.
• Providing regulatory compliance guidance to LOB Leadership on the following
initiatives:
– New Products/Services
– Compliance Incidents
– Written Procedures
– Regulatory Control Design
– System Impact
– System Implementation
– Incentive Compensation Review
– Monitoring/Reporting Key Controls
– Disclosure Review
– Merger & Acquisition Review
– Marketing & Advertising Review
– Consumer Complaints
– Education & Awareness Initiatives
– Audit/Exam Inquiry & Response
• Staying current on the regulatory environment and expectations through discussions
with peers, seminars, webinars, roundtables, bankers associations, etc.
• Obeying all applicable federal laws, rules, and regulations relating to Anti-Money
Laundering (AML) including the Bank Secrecy Act (BSA).
You are a person that has (required skills):
• A College Degree in business, finance or risk - or - equivalent industry certification.
• One to three years' experience in banking/financial services, preferably in one of the
following disciplines; compliance risk, operational risk or enterprise risk.
• The ability to juggle multiple competing priorities, self-manage and complete
assignments independently and on time.
• Excellent written, verbal and interpersonal communication skills, computer proficiency
and eye for detail.
• The ability to interact effectively with all levels of management and present risk
information to small and large groups.
• Excellent research and decision-making skills.
• Some local travel required.
You'll be better prepared if you have (desired skills and competencies):
• Knowledge of product and service operations for various types of financial service,
insurance or investment organizations.
• Experience using a Governance, Risk and Compliance System is strongly preferred.
Physically you can anticipate to:
• Express or exchange ideas by means of the spoken word via email and verbally.
• Exert up to/carry 20 pounds of force occasionally, use your arms and legs, and sit most
of the time.
• Vision, hearing, speech, and manual dexterity sufficient to reach/handle items and work
with fingers is required. Have close visual acuity to perform activities such as analyzing
data, viewing a computer terminal, reading, and preparing documentation.
• Not be substantially exposed to adverse environmental conditions.