· Responsible for compliance oversight of Credit Administration including the Bank’s Regulation O Program, Private Banking and various “specialized” commercial businesses (e.g. International Trade Finance).
· Subject matter business activities can include: design of new or changed products, review of marketing materials, implementation of new or changed laws and regulations.
· Interact with departmental and business unit coordinators, senior and middle management to ensure compliance with state and federal laws and regulations. The position requires an in-depth knowledge and understanding of the laws and regulations applicable to the subject matter, including, but not limited to Reg O, Reg B, and Reg Y.
· May supervise other Centralized Compliance personnel with specific subject matter expertise concerning federal banking laws dedicated to particular business line(s).
· Collaborate with other subject matter Centralized Compliance personnel and with Internal Audit as needed.
Essential Position Responsibilities:
(a) Legal & Regulatory Risk Ranking. Assist the Core Bank Compliance Officer in managing and maintaining the process of identifying and risk ranking laws and regulations applicable to the business activities for which the position is responsible.
(b) Legal & Regulatory Updating & Dissemination. Use internet and other means to remain current on legal and regulatory requirements and disseminate to the business unit. May include the preparation and/or presentation of regulatory risks/compliance updates to the Core Bank Compliance Officer and /or Chief Compliance Officer and for other project and/or committee related purposes as needed.
(c) Risk Ranking. In collaboration with the Core Bank Compliance Officer, responsible for managing the direct guidance, oversight, support, and subject matter expertise provided to business unit personnel.
(d) Manage the performance, maintenance and periodic review and updates of the Bank’s risk-based assessment model of regulatory requirements according to inherent regulatory risk.
(e) Represents the Centralized Compliance Department at Project Meetings for new products and services and may include attending occasional Senior Level Management meetings.
(f) Compliance Policies & Control Procedures. Manage the development, design and documentation of program(s), policies and control procedures. Although the principal responsibility for the development of procedures rests with the
business line, the Senior Compliance Officer serves as a subject matter expert advisor. Functions also include the review and approval of policies and procedures across multiple business lines to facilitate consistent development and documentation of the same.
(g) Training Plans. Provide guidance and support to business unit on the development of specific curriculum and training materials concerning policies and control procedures used within the business line to assure compliance. Oversee the development of a bank-wide curriculum and/or training materials for employees
concerning legal and regulatory requirements.
(h) Test Plans. Provide guidance and assistance to the Deputy Compliance Testing Officer in the development and review of test plans and testing results.
(i) Business Expansion. Manage regulatory risk/compliance due diligence process associated with mergers and acquisitions related to subject matter.
(j) Other. Perform other related assignments as requested by management and in support of compliance.
Nature and Scope
· The position works under minimal to limited supervision of the Core Bank Compliance Officer and is required to exercise independent judgment, discretion and may include decision-making in lieu of the Core Bank Compliance Officer.
· The position has substantial contact with internal departments / positions within M&T Bank Corporation and its subsidiaries, including members of middle, senior, and executive management.
· The position involves establishing and maintaining relationships with external contacts including but not limited to Bank supervisors and examiners, attorneys, vendors and peers at other institutions.
OneWire Inc. - 19 months ago
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M&T Bank is considered one of the country's most highly regarded regional banks. We were founded more than 150 years ago in Western New...