The Compliance Testing Officer will lead and conduct second line compliance testing and evaluate first line business controls monitoring reports. The incumbent will conduct testing to assess Busey Bank's compliance with consumer protection laws and regulations and adherence to internal policies and procedures. Additionally, the incumbent may assist the Senior Compliance Testing Officer in conducting complex testing assignments and ad-hoc thematic reviews.
The Compliance Testing team is responsible for determining the scope and depth of compliance testing; gathering necessary information from the line of business to perform the review; conducting field work and testing; keeping the line of business informed on the progress of the review; issuing reports on a timely basis in order to keep the line of business informed on any emerging risks; keeps management informed through reporting; and issue tracking and retesting.
Duties & Responsibilities:
Execute compliance testing with moderate supervision including assessing key risks and evaluating associated control design and effectiveness.
Assess and develop the scope of compliance testing employing a risk-based approach to ensure adequate testing coverage of key risks and controls.
Draft scoping document and create workpapers that include applicable regulatory requirements and adherence to established compliance testing standards, procedures, and protocols.
Lead or participate in related meetings and complete all required documentation that supports the work performed in accordance with compliance testing standards, procedures, and protocols.
Document field work completed in a manner that is repeatable and auditable.
Communicate test results to Compliance and line of Business management both orally and through written compliance testing reports.
Identify the root cause for violation of federal law or regulation; and internal policy, procedures, or other control deficiencies.
Recommend rating for identified issues based on the work performed taking into account the risk presented to the Bank.
Present suggestions for process improvements, corrective actions, and evaluate the timeliness and proposed remedial actions by Business management.
Draft findings, observations, and final reports that adequately support conclusions and requires minimal editing.
Track and retest closed/resolved findings to validate the effectiveness of the corrective action taken by the line of business.
Ensure the compliance testing system is updated timely to reflect the current status of compliance testing and issues for management reporting purposes.
Maintain organized and complete final compliance testing documentation records in accordance with the established compliance testing standards, procedures, and protocols to support the steps taken during compliance testing.
Build effective relationships with colleagues to enable partnership and collaboration for control related matters.
Recommend opportunities to update the compliance testing plan based on observations during the execution of test work.
Identify opportunities to enhance operational efficiency and effectiveness both for operational processes being reviewed and the Compliance Testing Program.
Take ownership of projects and other work assignments to ensure they are carried out correctly and in a timely manner.
Complies with all federal and state laws and regulations.
Assist with periodic HMDA and CRA LAR data collection reviews, as requested.
Assist with other compliance-related projects and tasks, as requested.
WHAT YOU'LL BRING
Strong verbal and written communication skills
Strong investigative interview and presentation skills.
Strong project management skills. High degree of initiative and excellent organization skills. Ability to multi-task and reprioritize tasks as needed.
Strong compliance laws and regulations knowledge governing Bank operations, such as TISA, EFTA, TILA, RESPA, HMDA, CRA, BSA/AML, Fraud, Privacy, UDAAP, etc.
Microsoft productivity suite of programs
Work independently and complete assignments on time and completely.
Work as a team to meet project deadlines.
Use appropriate judgment with regard to issue priority and communication.
Research, interpret, and apply regulatory compliance laws, regulations, and guidance, and provide solutions.
Leverage data/systems to automate or streamline testing routines.
WHY IT MATTERS
Be part of our growing team! The Compliance Testing team is a main pillar of the Bank's compliance management system. Working in a rapidly growing company and team means you will have an opportunity to learn and grow as a compliance risk management professional. Learn about the processes, systems, controls, and regulations applied across the Bank. Make an impact on the growth and development of the team. Be in a role that has opportunities to grow with the Bank across compliances disciplines (e.g., BSA/AML, Fraud, Regulatory Compliance Advisory, Fair and Responsible Banking, etc.).
EDUCATION & TRAINING
Bachelor's degree or equivalent work experience in the financial industry required.
Business or Finance degree preferred.
2-5 years of experience in compliance risk management or validation of compliance risk controls effectiveness.
Experience in corporate compliance, audit, operational risk and controls compliance, regulatory agency, or dedicated compliance practices within consulting firms preferred.
Busey believes that diversity and inclusion among our teammates is critical to our success as a company, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool.
Equal Opportunity Employment is a priority for Busey and all qualified applicants will receive consideration regardless of race, color, religion, national origin, genetic information, sex (including pregnancy), age, sexual orientation, gender (including gender identity and expression), marital status, military status, veterans status, citizenship status, disability, order of protection or any other characteristic protected by applicable law or other non-merit based factors.
As of June 30, 2019, First Busey Corporation (Nasdaq: BUSE) was a $9.61 billion financial holding company headquartered in Champaign, Illinois.
Busey Bank, a wholly-owned bank subsidiary with total assets of $7.66 billion as of June 30, 2019, is headquartered in Champaign, Illinois and has 44 banking centers serving Illinois, 13 banking centers in the St. Louis, Missouri metropolitan area, five banking centers serving southwest Florida and a banking center in Indianapolis, Indiana. Through the Busey Wealth Management division, the Company provides asset management, investment and fiduciary services to individuals, businesses and foundations. As of June 30, 2019, assets under care were approximately $7.47 billion. Busey Bank owns a retail payment processing subsidiary, FirsTech, Inc., which processes approximately 28 million transactions per year using online bill payment, lockbox processing and walk-in payments at its 4,000 agent locations in 43 states. More information about FirsTech, Inc. can be found at firstechpayments.com.
Busey Bank was named among Forbes' 2019 Best-In-State Banks—one of five in Illinois and 173 from across the country, equivalent to 2.8% of all banks. ...Best-In-State Banks are awarded for exceptional customer experiences as determined by a survey sample of 25,000+ banking customers who rated banks on trust, terms and conditions, branch services, digital services and financial advice.
TheBANK of Edwardsville, a wholly-owned bank subsidiary of the Company with total assets of $1.95 billion as of June 30, 2019, is headquartered in Edwardsville, Illinois and has 19 banking centers. Through TheBANK of Edwardsville Wealth Management division, the Company provides asset management, investment and fiduciary services to individuals, businesses and foundations. As of June 30, 2019, assets under care were approximately $1.50 billion.
For more information about us, visit busey.com and 4thebank.com.