Title: Compliance Risk Liaison - Corporate Banking
Location: CALIFORNIA-LOS ANGELES
Job Summary:
Overall responsibility for serving as the liaison to Union Bank Corporate Compliance, Business Unit Compliance Officers and Corporate Banking lines of business to help drive an integrated, efficient risk management framework across all Corporate Banking business lines and ensure regulatory compliance. Ensure an effective balance of business needs and client experience by ensuring businesses understand the major compliance risks are properly resourced and able to proactively identify emerging compliance requirements and maintain effective controls to ensure ongoing compliance. Understand what is important to the regulators, shareholders and Bank Management. Reports directly to the EVP Chief Risk Officer for Corporate Banking.
Major Responsibilities:
Coordination and integration of compliance resources and activities within the Corporate Banking Group, specifically working with the Business Unit Compliance Officers, line of business policy resources, and product or operations staff involved in compliance related activities as well as line of business executives to influence understanding and effective execution.
Frequently interacts with second line of defense including Corporate Compliance, BASEL PMO, Operational Risk Management, and with Third line of defense to insure that major compliance issues are resolved appropriately and concerns are addressed.
Ensure that each functional area of Corporate Banking develops, implements and maintains a business unit compliance program in accordance with UB's Regulatory Compliance Policy and Program and all applicable banking laws, regulations and specified safety and soundness requirements.
Ensure the development and maintenance of written policies, procedures and processes that include ongoing risk assessments, periodic monitoring and testing, ongoing communication and training.
Drive compliance-related process change enhancements and interfaces with the line of business, the Corporate Banking CRO, Corporate Compliance Group and other UB risk management functions.
Ensure that business lines are addressing major compliance projects effectively by understanding resource needs, assessing issues and options and recommending solutions.
Provide periodic reports to the Corporate Banking Chief Risk Officer and senior management on issues, trends, exceptions, violations and appropriateness of corrective actions. Escalate any gaps in the framework and any emerging risks for quick resolution.
Serve on major risk or compliance committees representing the Corporate Banking Group.
Maintain a current awareness of the regulatory environment and a working knowledge of State and Federal laws and regulations.
Participate in the development of new products, services, policies or procedures to ensure proper consideration of regulatory compliance issues.
Assist with coordination of regulatory examinations and serve as a liaison with Corporate compliance and regulatory staff as needed.
Act as a focal point for major direct compliance issues and for indirect issues for line of business.
Additional Information:
Requires comprehensive knowledge of bank operational, policies and procedures and philosophy as well as a thorough knowledge of personnel policies and procedures typically gained in 10 years of increasingly more complex responsibilities.
Requires an understanding of Wholesale Corporate Banking including Commercial Banking, Capital Markets and Wealth Markets (Private Banking, Brokerage, Asset Management, and Loans & Deposits).
Requires in-depth knowledge (7-10 years experience) of regulatory compliance and management.
Requires excellent project management skills, people management & development skills.
Requires excellent written and verbal communication skills.
Requires a familiarity with BASEL II Advanced Risk Management Standards.
Requires the ability to assimilate information into the policies and philosophies of the Bank.
Should have experience working with bank regulators.
Ability to balance regulatory requirements with the interests of the Bank and its clients.
Requires a degree from a four year college.
Legal education, law degree, regulatory or compliance certifications highly desired.
Knowledge and experience in the Bank Secrecy Act, Anti-Money Laundering regulations, and Fiduciary compliance or risk management beneficial.
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
