Compliance Testing Team Lead - Private Banking & Wealth Management at Flagstar Bank, N.A. in Hicksville, New York

Job Description:

Position Title
Compliance Testing Team Lead - Private Banking & Wealth Management

Location
NYCB Plaza -102 (Hicksville, NY)

Job Summary
The Compliance Testing Team Lead is responsible for performing monitoring and testing reviews ensuring Business Units are complying with applicable laws, rules, regulations and firm policies and procedures. This position performs supervisory oversight of a team of compliance testers who perform monitoring and testing reviews of Business Units to assess the effectiveness of compliance controls that mitigate regulatory risk. The position oversees the testing performed to ensure accuracy and completeness of test objectives and conclusions. In addition, the Compliance Testing Team Lead is responsible for completing planning and scoping documentation, completing test scripts, drafting issues, and performing quality assurance (QA) of testers' work to ensure the quality, completion and accuracy of testing and monitoring work performed aligns with department standards.

Pay Range: $99,731.70 - $132.144.50 - $197,468.76

Pay Range: Local Minimum Wage - $0.00 - $0.00

Job Responsibilities:

• Serves as the examiner in charge of Compliance Testing reviews assigned.


• Work with the Senior Manager and Department Head to establish the objectives, scope, testing approach and sampling techniques to be utilized during testing.


• Schedule and participate in any commencement and exit meetings with business/stakeholders for compliance reviews.


• Develop and distribute Announcement and Documentation Request Memos for scheduled reviews.


• Perform and oversee compliance tests and workpaper completion conducted by Compliance Testing team members.


• Meet with the business/stakeholders to ensure the factual accuracy of issues raised.


• Prepare "Compliance Draft Review Reports" that summarize results, findings, and recommendations for proposed enhancements for issues noted.


• Obtain adequate management action plans with respect to any findings.


• Document findings and management responses/action plans in Archer.


• Perform follow-up to ensure timely completion of corrective actions and validate closure of issues.


• Assist with the creation and maintenance of departmental Key Performance Indicators and Key Risk Indicators.


• Assist with the development of the Annual Compliance Testing Plan.


• Assist in the Annual Performance Evaluation of Team Members.


• Provide thoughts on continued process improvements and updates to the Compliance Testing Methodology, Procedures and workpaper templates.


• Stay informed of changing regulatory requirements and the firm's business model that might impact the firm's compliance framework and the Compliance Testing plan.


• Complete all required compliance and other firm required training.


• Maintain knowledge of and adhere to all applicable internal compliance policies and procedures and other internal policies and procedures applicable to the role.

ADDITIONAL ACCOUNTABILITIES

• Performs special projects, and additional duties and responsibilities as required.


• Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations.

Required Qualifications:

• Education level required: Bachelor's degree or equivalent work experience.


• Minimum experience required: 10+ Years of Financial Services experience, preferably at least half of those years in Compliance Testing, Internal Audit or a financial services consulting firm (i.e. PWC, E&Y, Grant Thornton, other) with regulatory compliance testing as an area of focus.

Preferred Qualifications:

• CRCM, ACAMS, or Securities Licenses preferred but not necessary.

Job Competencies:

• Functional knowledge of consumer protection laws and regulations impacting financial institutions.


• Excellent organization and communication skills.


• Demonstrated ability to focus and execute completion on complex matters.


• Ability to manage and provide compliance related oversight to multiple business lines.


• Proven ability to partner effectively across all levels of the organization and develop positive working relationships.


• Ability to supervise staff.