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VP - Consumer and Bank Regulatory Compliance

Company: Bank of China
Location: New York
Posted on: May 6, 2021

Job Description:

Job DescriptionThe incumbent will act as the designated Consumer Compliance Officer, and provide the direction and oversight of key consumer and bank regulatory compliance program elements that include policies implementation, targeted programs enhancement, compliance risk assessments, compliance training and awareness development, new product compliance risk evaluation, marketing and advertising material review, metrics and reporting.Job ResponsibilitiesConsumer and Bank Regulatory Compliance * Lead the consumer and bank regulatory compliance management program* Maintain up-to-date knowledge of consumer and regulatory compliance industry best practices, and implement change and update programs where relevant* Track and monitor the implementation status of regulatory changes to ensure that they are incorporated into the Bank's policies and procedures within the required time frames* Design relevant training program to educate relevant bank staff* Develop the system to track and monitor implementation/action plans of 1st line of defense in response to regulatory changes* Support business lines by providing guidance and compliance expertise in furthering initiatives and resolving issues in line with the compliance program* Work with the business lines to enhance relevant procedures, ensuring alignment with the Bank's policies and compliance with the regulations* Monitor and review marketing programs and disclosures* Chair the Consumer Compliance Committee ("CCC") and provide quarterly updates to the CCC members* Manage the annual consumer and regulatory compliance risk assessment* Monitor, track and respond to both internal audit and regulatory examinations and findings* Interface with regulators and interact with the Bank's Executive Management team and business unit headsEscalation and Communication * Communicate findings, trends and potential risks to relevant committees* Escalate potential issue to Management and resolve in a timely manner* Be aware of relevant state and federal consumer laws and regulation changes, including changes to guidance and interpretations and assist the Head of Compliance Testing to update internal monitoring test plans accordinglyJob Requirements* Bachelor degree in related field is required; JD degree is preferred* 10 years of experience in consumer and regulatory compliance is required* 10 years of practical application of consumer protection and regulatory compliance laws/regulations knowledge (e.g. disclosures, marketing and advertising materials review, remittance, affiliate transactions, insider activities, etc.) is required* Minimum 3 years of experience in designing and managing a consumer compliance system is required* Proven ability to interact with retail branch personnel and various business lines managers is required* Retail banking experience is preferred but not required* Strong interpersonal skill, organization skill, and communication skill are required* Bilingual in Mandarin is preferred, but not required

Keywords: Bank of China, New York , VP - Consumer and Bank Regulatory Compliance, Executive , New York, New York

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