Updated 5 days ago

WAS Compliance & Business Risk Partner( Remote )

Minneapolis, MN 55401
Full-time, Part-time
$48.73 - $73.25
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Location: Edina, Minnesota - France Ave South
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Premier Valley Bank and it's Divisions, Founders Community Bank and Yosemite Bank, are growing dynamic organizations with many locations offering uniquely different banking and financial solutions for businesses and personal clients. As a performance driven company, we strive to create a culture of excellence with high standards, and high values while providing outstanding growth and involvement opportunities for employees. Join a team that makes "Great Things Happen!"(c)

Under the dual reporting direction of the HTLF Director Corporate Compliance and the HTLF Director Enterprise Risk Management (ERM), the WAS Compliance & Business Risk Partner assists with the ongoing administration of the HTLF Compliance Management System (CMS) and the HTLF Enterprise Risk Management Program. This position assists in the identification and assessment of risks, design and maintenance of controls, and coordination of corrective action/responses by the business line to unacceptable levels of risk for the Wealth Management Business Line. The role provides subject matter expertise for compliance and risk-related issues arising from the area's sales, services, products, or operations within the compliance and global risk framework. The WAS Compliance & Business Risk Partner is involved in the business unit's new business activities, daily operations, and 3rd party risk and model risk management activities.

Primary Responsibilities

  • Provides leadership and oversight of compliance and risk management requirements for the Wealth Management Group.
  • Acquires and maintains a deep understanding of the objectives, activities, risks, and controls for the area(s) supported.
  • Acquires and maintains a deep understanding of existing FINRA, MSRB, DOL, FDIC, FRB, SEC RIA and Broker/Dealer laws, rules and regulations and understanding of new/proposed laws, rules and regulations in a timely manner.
  • Acquires and maintains a deep understanding of existing Enterprise Risk, Operational Risk, and general understanding of Vendor Risk and Model Risk rules and regulations and understanding of new/proposed laws, rules and regulations in a timely manner.
  • Maintains a deep understanding of any other applicable existing laws, rules, regulations and fiduciary principals and understanding of new/proposed laws, rules and regulations in a timely manner.
  • Facilitates regulatory change management through maintaining an inventory of relevant rules and regulations for the business unit; monitor new and proposed laws and regulations in a timely manner and evaluate each for the proper level of attention and communicate the requirements to business partners.
  • Coordinates within the unit on corrective action or response management needed for compliance and risk management issues.
  • Facilitates, coordinates and administers corrective action and response management to issues noted in examinations and audits, to ensure
    that the unit stays on-task and on-time, and that the response provided will be acceptable for meeting the risk management needs.
  • Develops recommendations for improving internal controls.
  • Creates and maintains appropriate documentation of processes and procedures.
  • Represents Corporate Risk Management during new or revised product/service process to assure accurate implementation of regulatory compliance requirements and controls are in place to mitigate significant concerns.
  • Creates and reports on identified risks and effectiveness of controls and regulatory requirements.
  • Identifies metrics that can be used as Key Risk Indicators (KRIs) and their limits and tolerances.
  • Provides reports and guidance to management within the unit and submits data to both the Compliance and ERM aggregation functions.
  • PRIMARY RESPONSIBILITIES - COMPLIANCE
  • Monitors the effectiveness of controls and compliance with applicable regulations.
  • Evaluates inherent risk, control effectiveness, and residual risk after controls.
  • Identifies gaps and opportunities for enhancement of controls.
  • Maintains a current inventory of controls. Assures that they are properly updated and approved by relevant governance processes and the
    Board.
  • Engages with senior management in the unit on the design of policy, procedure and controls. Assists in the development or enhancement
    of policy, procedure and controls.
  • Develops and implements appropriate compliance monitoring strategies to validate the effectiveness of compliance policies and
    procedures and regulatory requirements.
  • Coordinates and manages compliance activities including but not limited to:
  • Manages the completion of compliance risk assessments and updating as applicable.
  • Facilitates the annual review and evaluation of compliance policies and procedures including inspections of the Offices of Supervisory
    Jurisdiction as required by regulation.
  • Assists with regulatory inquiries and examinations and internal compliance related audits.
  • Participates in a compliance capacity in reporting, researching and reviewing consumer complaints.
  • Assists with the development and maintenance of business unit's compliance related policies and procedures.
  • Reviews incentive compensation plan for compliance with Regulation R and associate registration requirements.
  • Revises Corporate Risk or Corporate Compliance Management program manuals, as needed.
  • PRIMARY RESPONSIBILITIES - ENTERPRISE RISK MANAGEMENT
  • Acquires and maintains a deep understanding of the objectives, activities, risks, and controls for the area(s) supported.
  • Identifies risks and performs risk assessments as part of the RCSA program. Identifies and maintains an inventory of all the major risks in the area, and applies the standard ERM framework and risk taxonomy to them.
  • Monitors the effectiveness of controls.
  • Evaluates inherent risk (from both business impact and likelihood perspectives), control effectiveness, and residual risk after controls.
  • Identifies gaps and opportunities for enhancement of controls.
  • Develops recommendations for improving internal controls.
  • Creates and maintains appropriate documentation of processes and procedures.
  • Facilitates 3rd party risk management administration within the unit in coordination with the centralized Vendor Risk Management team.
  • Gathers information and prepares 3rd party risk assessments and control analysis.
  • Ensures proper vendor risk ratings through the administration of periodic vendor reviews, maintaining ticklers, preparing review plans, and
    the timely and quality completion of review plans.
  • Supports model risk management administration within the unit as identified in coordination with the centralized Model Risk Governance team.
  • Gathers model documentation and/or other model related items at the direction of the Model Risk Governance Manager.
  • Assists with model identification at the direction of the Model Risk Governance Manager.
  • Addresses questions and provides training, as needed.
  • Completes annual E-Learning Plan and Bank Secrecy Act (BSA) training as assigned and keeps up-to-date knowledge of BSA as it relates to the job function.

Secondary Responsibilities

  • Performs other duties as assigned.

Management Responsibilities

  • This job has no management responsibilities.

Qualifications

Role can be Remote

  • Bachelors Accounting, Business Administration/Management, Finance, Risk Management required or
  • 5-7 years Trust, Fiduciary or Broker experience and Enterprise Risk Management or general Risk Management experience required
  • Strong working knowledge of registered investment advisor or broker-dealer regulations
  • Strong working knowledge of trust and fiduciary regulations and principals
  • Proficiency in identifying and assessing compliance risks and recommending appropriate strategies to mitigate risk
  • Ability to interact effectively with a variety of contacts, including senior management and support group
  • Ability to maintain the highest level of confidentiality
  • Ability to develop and maintain rapport with business partners to effectively obtain and communicate compliance information
  • Excellent written and verbal communication, organizational, problem solving, and decision-making skills
  • Ability to detect patterns and conditions through observing processes
  • Proficiency in documenting, evaluating, and analyzing diverse, complex company functions and processes that identify key risks and controls to facilitate the development of value-added business compliance and control improvement recommendation
  • Ability to work independently, with limited supervision
  • Ability to define problems, collect data, establish facts, and draw valid conclusions
  • Capability of multitasking a heavy workload while meeting deadlines
  • Proficiency with Microsoft Suite (Outlook, Word, Excel, PowerPoint)
  • Series 65 - Investment Advisors Law Exam - Financial Industry Regulatory Authority - FINRA within 180 Days required

Scheduled Weekly Hours:

40

Time Type:

Full time
Posting ID: 631123738Posted: 2021-06-20Job Title: Compliance Business Risk Partner