BSA REGULATORY COMPLIANCE OFFICER

Job Summary

The Florida Compliance Officer participates in implementing FirstBank’s Regulatory Compliance Management System, under the direction of the Corporate Compliance Department. This role focuses on federal and local consumer protection laws affecting Florida and supports the region business units in meeting regulatory compliance requirements. Also, this position supervises, assigns, distributes, and revises the work of the BSA Compliance Specialist and Analysts assigned to the Florida region.

Essential Responsibilities

• Supports the Puerto Rico BSA & Regulatory Compliance Departments, supporting Florida’s Line of Business in daily consultations.
• In coordination with the Corporate Compliance Department, identifies and advises Florida management and business units of possible or potential compliance risks and provides solutions to mitigate those risks.
• In coordination with the Corporate Compliance Department, creates action plans to address identified weaknesses and vulnerabilities in ongoing compliance operations.
• Serves as a liaison between the BSA FIU Unit and the region, obtaining explanations or supporting information supplementing the investigations process as well as following up on the ARC cases.
• Serves as a liaison between the High Risk Customers Unit and the region, ensuring timely completion of the OBPs among others.
• Supervises and evaluates the BSA Compliance Specialist and Transaction Monitoring Analysts assigned to the Florida Compliance Unit.
• Assigns, distributes, and revises the work of the BSA Compliance Specialists and Analysts.
• Serves as a liaison between the BSA FIU Unit and the region, obtaining explanations or supporting information supplementing the investigations process as well as following up on the ARC cases.
• Manages and responds to customer complaints received by the federal regulators in relation to legal compliance. Provides support to the Senior Compliance Officer to report consumer complaints to management.
• Supports Fair Lending & CRA Assistant Managers on Florida regional matters.
• Participates in and prepares presentations for Florida Regulatory Compliance Committees.
• Engages in special projects as assigned by the Compliance Director or Compliance Managers.
• Assists the Compliance Manager and BSA Officer during compliance examinations performed by a federal agency.
• Creates and/or reviews compliance related documentation for the Florida Region, including agreements, consumer disclosures, new products, customer communications, operational letters, policies and procedures, product programs and other documentation that may have compliance impact.
• Reviews and approves all marketing campaigns, product development and other promotional materials in relation to regulatory compliance.
• Develops, reviews, and offers specialized regulatory compliance training, bulletins or compliance aids to business and support units regarding regulatory compliance. Also, administers and maintains updated the training databases and attendance reporting.
• Creates and/or reviews compliance related documentation for the Florida Region, including agreements, consumer disclosures, new products, customer communications, operational letters, policies and procedures, product programs and other documentation that may have compliance impact.
• Reviews and approves all marketing campaigns, product development and other promotional materials in relation to regulatory compliance.
• Manages and responds to customer complaints received by the federal regulators in relation to legal compliance. Provides support to the Senior Compliance Officer to report consumer complaints to management.
• Supports Fair Lending & CRA Assistant Managers on Florida regional matters.
• Participates in and prepares presentations for Florida Regulatory Compliance Committees.
• Engages in special projects as assigned by the Compliance Director or Compliance Managers.
• Assists the Compliance Manager and BSA Officer during compliance examinations performed by a federal agency.
• Independence of Judgment: The degree of judgment is related to data processing and/or presentation of possible recommendations and the integration and coordination of varied elements and its application to specific subjects. Also is related to the continuous analysis of specialized and complex subjects.
• Supervisory Responsibilities: This position has direct supervisory responsibilities over the Compliance Specialists and Analyst positions.
• Impact of Errors: The impact of errors in this position could affect other department activities or external services and strategic results or Bank image through the regulatory agencies, customers and the community.

Competencies

• Fully bilingual English and Spanish (oral and writing).
• Work with a minimum of supervision.
• Analytical thinking capacity.
• Knowledge of Word Processing software, Spreadsheet software (excel, access and Presentation software).
• Regulatory issues advising capacity.
• Knowledge of BSA/AML and OFAC laws and regulations.
• Excellent interpersonal communication skills.
• Juris Doctor preferred; bachelor’s degree or equivalent experience required.
• Financial services and Legal/Compliance experience desired.
• AML experience preferred.
• Able to distill complex information.
• Strong Excel and Power Point skills.
• Strong interpersonal and creative thinking skills.
• Self-motivated and results-oriented; ability to deliver with minimal supervision.
• Candidate should feel comfortable interacting with individuals at all levels of the organization.
• Experience or demonstrated ability to work effectively in a team-based environment.
• Track record of success in delivering high quality work in a fast paced and dynamic environment.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

Minimum Requirements

• Master’s degree in business administration or equivalent for this job; Juris Doctor is a plus.
• The incumbent must have five to eight years of experience in a compliance position in the banking industry.
• Expertise and knowledge on banking operations and applicable regulations.
• The ability to self-train, research, track, update, and communicate compliance issues.
• Candidates must be highly motivated and demonstrate ability to multi-task and prioritize assignments.
• Strong supervisory skills are necessary.
• Bilingual (write and speak English and Spanish).
• Word, Excel, Access and Power Point knowledge is required.
• For this position is required to travel occasionally within Puerto Rico and Florida).