Compliance Tester

Purpose: Reporting to the Regulatory Compliance Testing Manager, the Compliance Tester will have overall responsibility for risk management and compliance in our testing program. The successful candidate will ensure that the operations of the Compliance Testing Team partners and comply with all federal and state banking laws and regulations related to regulatory compliance. The Compliance Tester will be responsible for assisting in the development, implementation, and maintenance of systems and processes to ensure ongoing compliance of all Deposit and Lending products.

Essential Functions:

• Execute targeted, complex testing for line of business compliance requirements in alignment with team and program methodology while advancing corporate goals and objectives.
• Demonstrate an understanding of business processes, control frameworks, and related regulatory and compliance standards.
• Manage testing schedules to ensure all tasks and reporting are completed within established timeframes and documented within system of record.
• Systematically retaining documents that substantiate test results.
• Review tests executed by colleagues for accuracy and adherence to test plan and procedures.
• Develop and execute testing plans, continually validating and improving existing design while also identifying new opportunities to execute tests in high-risk areas.
• Develop and maintain compliance policies and procedures specific to BaaS operations. These policies should address the regulatory environment and be communicated to all relevant stakeholders.
• Request and analyze data; supporting and initiating efforts to improve data sourcing and driving innovation with business partners.
• Demonstrate the ability to explore and quickly grasp new technologies and processes to progress team initiatives.
• Communicate results to Compliance Officers, Legal, and Business Partners.
• Demonstrate strong time management, organizational, and prioritizations skills; completing multiple concurrent tasks.
• Exhibit strong problem solving and conceptual thinking skills.
• Prepare regulatory reports and filings as required.
• Develop and implement incident response plans to address and report any compliance breaches or other emergencies promptly.
• Fulfill responsibilities with professionalism, respect for others, in accordance with the organization’s policies and applicable laws.
• Champion and execute process improvement recommendations that help to improve effectiveness and efficiencies of business units in mitigating compliance risk.
• Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of HEART in every facet of work.

Job Related Qualifications:

Required:

• Education: High School Diploma
• Prior Experience: 3+ years experience in compliance testing, risk management, compliance monitoring, quality assurance, control review or audit. Understanding of and experience applying regulations governing Deposit Accounts and Consumer-based lending products.

Competencies:

• Strong knowledge of regulatory compliance, risk management processes, and issue management.
• Experience conducting compliance risk assessments and compliance testing activities.
• Extensive knowledge of financial institution policies and procedures.
• Extensive ability to read, analyze and interpret government regulations, trade journals and legal documents.
• Must be able to respond to common inquiries from regulatory agencies, courts, and outside consultants.
• Strong verbal and written communication skills and ability to interact positively with a wide variety of individuals; proven ability to work with senior management to solve complex problems.
• Strong experience level with all Microsoft Office applications including the ability to learn new and existing banking software.
• Some periodic travel (approximately 25% travel).

Physical Requirements:

• Able to regularly sit for prolonged periods of time.
• Able to travel frequently.
• Extensive computer usage is required.
• Ability to work:
  1. Evenings
     • Occasionally
  2. Weekends
     • Occasionally

Benefits:

• Medical, Dental, and Vision Insurance
• Health Savings Account
• Flexible Spending Account(s)
• Company Paid Life Insurance, Long Term Disability, and Short Term Disability
• Voluntary Offerings: Life, Critical Illness/Specified Disease, Accident, Hospital Indemnity & Personal Accident
• Tuition Reimbursement
• Employee Referral Program
• Wellness Reimbursement Program
• Star Volunteer Program
• Employee Banking and Financial Perks
• Paid Time Off (PTO)
• Company Paid Holidays

This job description is not exhaustive. The Compliance Tester may be required to perform other duties as assigned. The expected rate of pay for this position is shown above. Compensation offers are based on a wide range of factors including relevant skills, training, experience, education and, where applicable, licenses or certifications obtained. Market and organizational factors are also considered. In addition to your base rate of pay and a competitive benefits package, successful candidates may be eligible to receive cash or equity-based incentives based on the role and performance.