Regulatory Change Management Officer

The Regulatory Change Management Officer is a vital Second Line of Defense role within the Compliance function of the Enterprise Risk Management (ERM) department.

This individual will assist with the development and implementation of a Regulatory Change Management (RCM) Program across the enterprise and leverage the bank’s Governance, Risk, and Compliance (GRC) tool to execute, maintain, and evolve the program to ensure the bank stays compliant with changing regulations. 

DUTIES AND RESPONSIBILITIES: 


* Leverage the third-party authoritative source and regulatory library to monitor new and amended laws, regulations, and supervisory guidance across multiple regulatory bodies (e.g., CFPB, FDIC, FTC, SEC)


* Track the lifecycle of the regulatory changes within the GRC tool and communicate the information to the appropriate stakeholder(s)


* Conduct a risk and impact assessment of applicable regulatory changes and evaluate how the regulatory changes affect the bank’s operations


* Lead cross functional teams to ensure regulatory changes are understood, communicated and embedded in relevant processes and practices


* Assist business units with revisions to policies and procedures for alignment with the regulatory change requirements


* For business-unit led initiatives provide an advisory role, monitor the progress, oversee and ensure implementation of processes and practices before the enforcement date


* For compliance-led initiatives perform initial analysis, partner with stakeholders to develop a project plan, execute, confirm, and document all key milestones and project tasks are appropriately completed on or before enforcement date


* Design and monitor key risk and performance indicators (KIs) to understand if progress on RCM initiatives are outside of the risk appetite


* Prepare well-documented presentations and reports to communicate the status of regulatory changes to the business lines, Compliance Committee, Executive Leadership, and regulatory bodies


* Collaborate with Compliance Team Leadership to design and execute ongoing monitoring activities to ensure compliance over time of the implemented regulatory changes


* Maintain and revise as necessary the Regulatory Change Management Program document and procedures


* Contribute to education and training programs to ensure employees understand and comply with regulatory requirements


* Assist with regulatory examinations and internal/external audit requests, including preparing materials, providing responses, and communicating with Examiners and Internal Audit


* Actively participate in assigned cross-functional teams and Bank Committees such as the Compliance Committee and/or Enterprise Risk Management Committee, as appropriate


* Enhance knowledge of regulations by attending educational workshops, reviewing professional publications, establishing personal networks, and participation in professional organizations and t...