MD Compliance & Regulatory Risk Assessment

If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer.  

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

Job Summary:

The Managing Director Compliance and Regulatory Risk Assessment (CRAA) is responsible for developing and establishing an effective program for guidance and technical assistance to the First Line of Defense Risk Control and Self-Assessment program on regulatory compliance risk and controls and to coordinate completion of the annual Enterprise Risk Assessment for compliance risk, the fair lending risk assessment, the Gramm-Leach Bliley (GLBA) risk assessment, and specialized risk assessments, when needed.   The MD CRRA is responsible for the design, implementation, and support of the systems and tools required to conduct these risk assessments and to develop and report summary results, as defined by Risk Management.  This role is a direct report to the Chief Compliance Officer.

Responsibilities:

• Responsible for identifying the federal, certain state banking laws and rules, and regulations that require risk assessment and control design.
• Develop and maintain Compliance-owned policy, program and standard documents that govern the design and execution of these risk assessments based on regulatory requirements and expectations.
• Develop reports and updates on risk assessment results to key governance groups including the Consumer Protection and Advisory Council, the Retail Nondeposit Investment Program Committee, the Regulatory Compliance Committee, the Enterprise Risk Management Committee, and the Risk Committee of the Board.
• Develop and execute compliance risk assessments based on Risk standards established for the Enterprise Risk Assessment.
• Provide lines of business with guidance and standards for compliance risk assessments in coordination with Compliance Advisory and Assurance leads.
• Develop and maintain training program to raise the level of awareness of Compliance risk assessments and to provide guidance on the execution of each.
• Maintain historical documentation on Compliance risk assessments with a focus on analytical and process changes that impact results from prior period assessments.
• Research regional and large bank risk assessment processes to advance the Compliance program.
• Define and develop Compliance requirements for the tools and systems needed to execute risk assessments.
• Assist in the preparation of risk assessment documentation requests for regulatory examinations and reviews, as required.
• Serve as the relationship manager for Compliance-owned systems and tools.

Educations, Skills & Experience:

• Bachelor’s or advanced degree required
• 10+ years of experience in compliance or risk management
• ABA Certified Regulatory Compliance Manager (CRCM) Certified Enterprise Risk Professional (CERP) preferred
• Other compliance-related professional certifications
• Broad knowledge of consumer protection and lending laws, and compliance risks more broadly, such as privacy
• Strong written and verbal communication skills
• Advanced Microsoft Office skills, including Excel, PowerPoint, and Word
• Knowledge of banking applications and systems preferred
• Knowledge of banking products and services
• Effective project management and analytical skills

he estimated salary range for this position is $170,000USD to $180.000USD. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation.

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All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.