Bank Regulatory Compliance Consultant
Financial institutions have strict controls on how they conduct business. Complex requirements make it essential to have a partner that blends legal expertise and banking experience. Wolf & Company analyzes both federal and state regulatory prerequisites, and assists in meeting regulatory burdens as well as provides training and instruction on current and future requirements.
Wolf’s compliance consulting team delivers insightful and comprehensive solutions including creative design and implementation of compliance management systems, specialized skills training, and evaluation of existing systems and processes. Using a customized approach, our consultants scrutinize and evaluate each financial institution’s unique situation to provide the most accurate and effective information.
- Retail, lending, and operational regulatory compliance audit and monitoring reviews
- Compliance risk assessments
- Compliance management system development and/or evaluation
- Customized compliance officer training
- Bank Secrecy Act program evaluation audit
- Anti-money laundering software validation testing
- Customized institutional practice compliance training
- Specialty project engagements
- Retainer/research engagements
We are currently searching for Senior Compliance professionals to lead our service teams at client locations.
Positions are available in Boston and New Jersey.
Required experience: Application of regulatory compliance expertise in a financial institution, consulting or regulatory environment
Essential Duties and Responsibilities
- Coordinates and manages the regulatory compliance audit process.
- Develops and implements a risk-based compliance audit plan, including scope determination, audit planning memos, and reports.
- Plans, schedules and conducts each audit, per schedule, to ensure that all activities conform to established audit procedures. Uses audit programs as guides and initiates additional audit steps where deemed appropriate.
- Reviews compliance-related policies and procedures for compliance with regulatory requirements and sound practices.
- Prepares a detailed report of violations to federal and/or state regulations and other compliance audit findings, presenting any irregularities or exceptions to Senior Management and/or the Audit Committee. Makes recommendations for corrective action.
- Reviews responses from the auditee for audit reports to determine whether appropriate action has been taken. Monitor implementation of the needed corrective action.
- Report, at least quarterly, to the Audit Committee of the Board of Directors on current quarterly audit results, any findings, corrective actions and status of prior open issues.
- Analyzes the audit programs for effectiveness, recommending changes and improvements as appropriate.
- Discusses with management any changes to the scope of audits performed, significant findings noted as the audit progresses and conclusions and recommendations as audits are finalized.
- Maintains appropriate records and provides assigned reports.
- Perform all duties in compliance with the Bank’s policies regarding Equal Employment Opportunity, Code of Conduct and the appropriate use of email, the Internet and any other technology tools as well as the Bank Secrecy Act (BSA) and Bank Protection Act (BPA) regulations.
- Perform reviews of compliance Lending regulations (Regulations B, C, X, V, Z, Homeowner’s Protection Act, National Flood Protection Act and specific state laws)
- Perform reviews of Financial Recordkeeping and Currency and Foreign Transaction Reporting Act, regulations E, CC, DD, and O.
- Participate in growth activities for Wolf services
Education and/or Experience
- Thorough knowledge of bank regulatory requirements.
- Knowledge of bank procedures.
- Bachelor’s Degree and related work experience with knowledge of banking federal and state regulations.
- Five+ years of risk management or bank compliance experience including a minimum of three years in the banking industry