The compliance assurance function adds value by providing assurance on RBS-CFG’s regulatory risk management and control processes, in relation to customer, financial or reputational risks. Role holders lead / participate in compliance assurance reviews within an assigned business unit, in line with assurance standards and procedures. The Compliance Assurance Manager’s primary responsibility is to deliver individual compliance assurance reviews as team leader. Role holders are expected to foster proactive and professional relationships with the business, providing robust and challenging insight on business risk and control processes.
Description of Function:
Liaise with the business to identify whether planned timescales for the review are viable.
Discuss current business context and scope of review with Senior Compliance Assurance Manager, including any potential issues and concerns, and resourcing issues.
Set up and carry out site visits. Conduct ‘walk through’ interviews with key individuals to identify processes, risks and controls.
Capture data in the form of process maps and meeting notes.
Create and issue Assurance Review Scoping Document, assessing adequacy of controls, identifying tests to be used and testing rationale.
Design testing strategy to be used during fieldwork.
Create and issue Terms of Reference to the business.
Review key documents with senior compliance assurance colleagues.
Team lead site visits to test effectiveness of controls.
Co-ordinate and review testing, participating as necessary. Tests may involve data analysis / observation / interviews with colleagues within the business.
Write up results of tests in work papers, and review the work of team members. Give feedback as necessary.
Identify and classify issues arising from compliance assurance review. Involve Senior Compliance Assurance Manager and other senior colleagues as necessary.
Present regular updates to the business during testing.
Finalise meeting notes and reports on tests of controls, and enter other data into work papers in line with Compliance Assurance guidelines.
Draft report and review with Senior Compliance Assurance Manager.
Escalate contentious issues to more senior colleagues in a timely manner.
Liaise with the business over draft and final reports.
Meet key business management with Senior Compliance Assurance Manager to present report findings.
Ongoing follow up of compliance assurance issues to ensure these are addressed by the business.
Leading the compliance assurance team
Identify resources required and negotiate composition of project team.
Brief compliance assurance team members as necessary.
Review the work of team members at all stages of a compliance assurance review.
Mentor and coach team members on an ad hoc basis at all stages of a compliance assurance review.
Meet with project team colleagues during fieldwork to share data, clarify understanding and identify outstanding points requiring exploration.
Contribute performance feedback on team members to line managers.
Participate in team meetings.
Participate in own performance appraisal meetings.
Participate in knowledge sharing events to promote own and others’ business / product knowledge and continuing professional development.
Participate in recruitment activity.
Compliance Assurance Managers determine the scope of the review, how to carry it out, and the testing strategy, in conjunction with the Senior Compliance Assurance Manager.
They are responsible for assigning individual tasks and responsibilities relating to the delivery of a compliance assurance review, and identifying the issues which need to be raised.
They are also responsible for decisions about when to involve / escalate to more senior colleagues.
No budgetary responsibilities. However, Compliance Assurance Managers are required to manage resources effectively in relation to team leading reviews.
Establish effective channels of communication with Senior and Business Line Managers in order to disseminate pertinent information ensuring a clear understanding of CFG Compliance expectations.
Promote professional and ethical standards and establish a compliance risk culture within the organization so that all levels of personnel fully understand the importance of internal controls and their role in maintaining a sound compliance environment.
Compliance Assurance Managers manage a team (generally 2-10) on a project basis but generally do not have line management responsibility. However, they do manage the quality of individuals’ work on the review they are team leading and give team members performance feedback. They also pass feedback on to Senior Compliance Assurance Managers for use in performance appraisals.
Bachelor Degree required
Certification or Licensure: professional certification in regulatory compliance (e.g. Certified Regulatory Compliance Manager).
Leadership skills to provide authoritative guidance to management and team.
Commitment to development and career advancement of diverse workforce.
Ability to effectively communicate (verbal and written) with all levels of management, and with team members.
Strong regulatory knowledge of subject areas, understanding of business lines and risk management skills.
Demonstrated teamwork and excellent organizational and computer skills.
Financial services experience in regulatory compliance management (preferably in banking). 5-10 years of previous experience in regulatory compliance risk management, compliance audit, or similar role.
Equal Employment Opportunity
It is the policy of RBS Citizens, N.A. to provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to race, color, ethnicity, religion, gender, pregnancy/childbirth, age, national origin, sexual orientation, gender identity or expression, disability or perceived disability, genetic information, citizenship, veteran or military status, marital or domestic partner status, or any other factor protected by federal, state and/or local laws.
Hours and Work Schedule
Hours per Week: 40
Work Schedule: Monday-Friday 8:00AM-5:00PM
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