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Req ID:  3493
Location: 

Chicago, IL, US, 60631

Compliance Testing Manager

FT/PT:  Full-Time

First Midwest, with assets over $16 billion, is the premier relationship-based banking franchise in the dynamic Chicagoland banking market. As one of the Chicago metropolitan area's largest independent bank holding companies, First Midwest provides the full range of commercial, retail banking, and wealth management services through some 120+ offices located in communities in metropolitan Chicago, Northwest Indiana, Central and Western Illinois, and Eastern Iowa. 

POSITION SUMMARY:

This position is responsible for overseeing all aspects of the Compliance Testing function for the Bank, including developing and implementing an overall strategy of the Compliance Testing team as changes in laws and regulation occur, managing a team of Compliance Testing Officers and coordinating testing activity with third-party compliance consultants.  The Compliance Testing manager partners with other areas of Compliance to develop and oversee a risk-based testing schedule. Compliance testing activities are designed to evaluate the effectiveness of compliance controls and assess the level of adherence to applicable laws and regulations. Communicate formal reports of testing results to executives and senior leaders.  The position reports directly to the Chief Compliance and Operational Risk Officer.

REQUIRED EDUCATION, EXPERIENCE AND SKILLS:

  • Bachelor’s Degree or equivalent work experience is required
  • 10+ years of relevant bank compliance or compliance audit experience
  • Certified Regulatory Compliance Manager (CRCM) designation is preferred
  • 5 years proven leadership experience
  • Strong understanding of applicable federal, state banking laws and regulations with the ability to promptly research regulatory requirements
  • Strong understanding of compliance risk management principles and regulatory expectations related to Compliance Testing activities
  • Ability to build and maintain strong working relationships with Senior Management and other stakeholders
  • Excellent verbal communication and formal presentation skills with ability to present compliance concerns to leadership in a fact-based manner
  • Ability to effectively interact with Regulators and Auditors
  • Effective multi-tasking and leading multiple compliance testing activities in various stages
  • Ability to think strategically
  • Position may require the need to travel to other branch or meeting locations

#LI-TP1

DUTIES/RESPONSIBILITIES:

  • Create and oversee strategies for the Compliance Testing Program and Department Procedures, including considering new testing tools, techniques and approaches.
  • Develop a Compliance Testing Plan, using a risk-based approach
  • Ability to present the Compliance Testing Plan to the Corporate Compliance Committee and recommend adjustments based on changes in risk factors
  • Oversee all aspects of scheduled Compliance Testing activities from planning, through execution and to publishing final reports
  • Partnering with others in Compliance to determine the appropriate scope and ensuring all activity is appropriately communicated, coordinated and completed as scheduled
  • Validate potential compliance issues, assess root causes and assign appropriate risk ratings
  • Record compliance issues in accordance with the Issues Management process, and communicate them to management in a clear and fact-based manner, with sound recommendations for corrective actions
  • Lead, coach and develop compliance staff to ensure department standards are followed and a high level of quality is maintained
  • Identify the need for third-party consulting firm assistance and coordinate all aspects of the relationship, including oversight of the quality of testing activities
  • Report testing plan progress, changes and findings to designated governance committees (e.g. Corporate Compliance Committee)
  • Support regulatory examinations and audits
  • Update the Bank’s Compliance Risk Assessment
  • Attend meetings, or participate on committees, as directed by the Chief Compliance and Operational Risk Officer
  • Keep informed on related compliance regulations and the regulatory environment
  • Attend all training sessions, schools, and seminars as requested by the Chief Compliance and Operational Risk Officer
  • Assist other Compliance Department partners as directed by the Chief Compliance and Operational Risk Officer
  • Travel to other locations may be required, estimated at up to 25%

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.
Please view Equal Employment Opportunity Posters provided by OFCCP here and Supplement here.


Nearest Major Market: Chicago

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