Overview
***After the initial training period, this is a hybrid role, working onsite in our Sioux Falls, SD office.***
Executes regulatory and operational testing to validate compliance within the suite of products offered by our clients and internal Bank processes against applicable legal, regulatory and Bank requirements.
Responsibilities
Essential Functions
- Plans, organizes, and completes regulatory monitoring and operational testing in accordance with the Bank’s approved Compliance Management System (CMS), departmental standards, and the schedule established by management.
- Performs testing of regulatory and operational processes; validates the root cause analysis of identified incidents and confirms the effectiveness of client corrective actions and remediation.
- Tracks, logs, and maintains complete workpapers and records of testing results, management responses, and Monitoring & Oversight actions. Collaborates with Compliance Advisory and the appropriate line of business to determine sufficient corrective actions to mitigate future risk.
- Prepares detailed summaries of identified findings for the Remediation Project Team and actively participate in client meetings to review and discuss testing outcomes and corrective action, including validation of remediation effectiveness.
- Produces final reports on testing results which are distributed to the Line of Business, Leadership, and Regulatory Agencies, upon request.
- Builds close working relationships with internal and external partners by responding promptly to questions, concerns, and remedial items; actively participates in internal meetings to review testing outcomes, root causes and action plans, if applicable.
- Prioritizes multiple assignments to meet quality expectations and timelines; escalates emerging risks, delays, or constraints proactively.
- Monitors regulatory changes, supervisory guidance, and industry trends; assesses potential operational impacts and recommends updates to policies, procedures, and controls to management.
- Performs other duties as assigned.
Qualifications
Education/Experience Requirements
- Undergraduate degree in a related field or an equivalent combination of training and experience.
- A minimum of 2 years of bank regulatory compliance or audit experience.
Preferred Qualifications
- Strong working knowledge of operational processes, consumer banking and credit regulations, including UDAAP principles, BSA/AML requirements for onboarding new customers, and related compliance testing processes.
- Demonstrates strong testing practices through judgmental sampling, operational effectiveness, validation and maintaining workpaper standards.
- Excellent verbal, written, and interpersonal communication skills.
- Ability to manage multiple projects and deadlines simultaneously.
- Team player, able to work effectively in a team fostered, multi-tasking environment.
- Detail oriented with strong organizational skills.
- Operational knowledge of regulatory citations within assigned reviews.
- No travel required.
Additional Information
This job will be open and accepting applications for a minimum of five days from the date it was posted.
Working at The Bancorp Bank, N.A. and Benefits Information: https://thebancorp.com/company/join-our-team/
Company Culture & Background Screening
Company Culture at The Bancorp Bank: https://www.thebancorp.com/company/company-culture/
The Bancorp Bank, N.A. is an EQUAL OPPORTUNITY EMPLOYER and will not discriminate on the basis of race, color, religion, gender, gender identity, sexual orientation, pregnancy, citizenship, national origin, age, disability, genetic information, veteran status or other protected category with respect to recruitment, hiring, training, promotion, and other terms and conditions of employment.
Employment with The Bancorp Bank, N.A. includes successfully passing a background check including credit, criminal, education, employment, OFAC, and social media background history.
