Compliance Officer I-Testing and Practices

Fifth Third Bank, N.A. • Cincinnati, OH • 2h ago

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GENERAL FUNCTION:

Responsible for leading reviews in the compliance testing program to ensure full compliance with state and federal laws, rules, and regulations. Provide reporting and actively engage senior LOB leadership to communicate the results of testing and any instances of non-compliance along with guidance toward corrective action of the identified issue root cause. Works mostly self-directed, with minimal supervisory oversight. Also works within department and cross-department teams.

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all @types.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

Leads reviews of various processes, identifying regulatory compliance risk and testing controls to ensure they adequately mitigate the risk. Responsible for project planning as well as testing execution.

Execute compliance risk reviews in line with Compliance Testing Practices Operating Procedures and Methodology.

Develop comprehensive test plans and workpapers to support assigned compliance reviews.

Ensure test plans are designed to identify non-compliance with various laws and regulatory requirements.

Manage compliance reviews, ensuring timely completion of tasks and escalating issues to leadership as needed.

Perform root cause analysis for instances of non-compliance and obtain formal action plans from business lines.

Draft formal reports, including the identification and documentation of issues.

Work independently with minimal supervision, while also collaborating within and across departments.

Take responsibility for risk by openly exchanging ideas, elevating concerns, and adhering to policies and procedures.

Commit to doing the right thing for customers and colleagues, ensuring actions and behaviors drive a positive customer experience.

Achieve results by consistently identifying, assessing, managing, monitoring, and reporting risks within the bank's risk appetite.

SUPERVISORY RESPONSIBILITIES:

Limited direct supervisory responsibilities.

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

Education: Bachelor's degree or equivalent work experience required.

Experience: At least 2-3 years of compliance testing experience in roles such as, but not limited to Compliance Officer, Compliance Testing Analyst/Specialist, or Internal Auditor.

Industry Knowledge: Strong understanding of the financial services industry and core products, including Consumer Banking deposit and lending products, operations, fraud management.

Regulatory Knowledge: Strong understanding of Federal Reserve, Office of Comptroller of Currency (OCC) and Consumer Financial Protection Bureau (CFPB) Examination standards and general regulatory issuances.

Communication Skills: Excellent oral and written communication skills, with the ability to effectively communicate at all levels and display a positive business presence with management and external contacts.

Judgment and Critical Thinking: Demonstrated sound judgment and the ability to apply logical and critical thought processes when developing and recommending solutions.

Compliance Officer I-Testing and Practices

Total Base Pay Range 71,100.00 - 145,900.00 USD Annual

At Fifth Third, we understand the importance of recognizing our employees for the role they play in improving the lives of our customers, communities and each other. Our Total Rewards include comprehensive benefits and differentiated compensation offerings to give each employee the opportunity to be their best every day.

The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the U.S. Individual salaries within this range will vary based on factors such as role, relevant skillset, relevant experience, education and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance.

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