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GENERAL FUNCTION:
Assists Chief Compliance Officer in advocating and facilitating the development, implementation, communication, and maintenance of corporate-wide Compliance Risk Management (CRM). Responsible for all facets of the Line of Business compliance program to ensure full compliance with state and federal laws, rules, and regulations (i.e. B, C, D, E, Q, DD, CC, M, U, X, Y, Z, HOEPA, and Predatory Lending). Actively engaged and readily available to work with Executive Line of Business Division Head to address compliance matters. Manages Line of Business compliance staff.
Responsible for managing the identification and assessment of risks (Fair Lending, Responsible
Banking, CRA) and the execution of procedures to evaluate the Bancorp's compliance with laws, regulations and industry standards. Evaluates efficiency and effectiveness of existing programs, processes, and control within departmental operations and propose and implement solutions.
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 Banks risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Assists the Chief Compliance Officer with the overall management of the Bank's compliance program.
- Act as the Servicing Compliance Manager for the Mortgage Line of Business.
- Responsible for developing, strengthening, and implementing the line of business compliance Program in compliance with Existing laws and regulations, including governance, policies and procedures, Monitoring, reporting, communications, and education.
- Initiates and facilitates collaborative alliances with line of business risk manager, Affiliate management, and corporate Partners to ensure line of business compliance Program is adequately managed.
- Assists in the Development of strategic CRM goals and tactical and strategic planning systems.
- Communicates significant issues to senior management.
- Serves on various task forces or discussion groups to address compliance related issues.
- Oversees evaluations of line of business compliance processes and procedure effectiveness across Affiliates.
- Identifies opportunities, Establishes action plans, and drives solutions to continuously improve compliance Program, and increase efficiency.
- Liaisons with regulators as appropriate.
- Partners with the Director of compliance communications and Training department to Develop awareness, Training, and required Continuing Education programs as IT relates to specific laws and regulations.
- Provides leadership, coaching, and Assessment to ensure optimum team and individual performance in Support of department, division, and Bancorp goals.
- Builds industry Relations through industry networking.
- Maintains a cutting edge awareness of division goals, Regulatory and legislative developments, and industry trends.
- Assumes additional responsibilities and Leads special projects as assigned.
- Participates in the analysis of lending policies and procedures, including scoring systems, strategic priorities, market share data, lending trends, external influences, current regulatory focuses, previous examination findings, and input from Audit and conducts interviews and discussions with managers at all levels to Understand the lending process, lending guidelines and Technology platforms.
- Analyzes data by numerous delivery channels, geographic area, product types, facility, and even employee or officer to identify risks and Develop and recommend scope or target for the Review, corrective action/or performance gap closure. Develops and executes strategies for closing gaps in performance.
- Assess the adequacy of the business units'/affiliates recommended corrective action to the issues or gaps identified.
- Develop and report findings to Senior Management regarding their business lines (Legal, Audit, and Senior level Operating Committees).
- Works with Sr. leadership to Set strategic direction for department and executes on those goals and objectives.
- Participates and/or Leads regular meetings with peers to Build and maintain knowledge of current and emerging issues and risk in the environment.
- Reviewing and implementing approved solutions for the Regulatory Monitoring and Change management Program ownership.
- Review and escalate compliance testing results.
- Contribute updates to the compliance risk assessment.
- Support post-implementation validation based on risk rating.
- Reviews reporting from the Councils for use by the Regulatory Change management Committee.
- Areas of responsibility and accountability within compliance Include: consumer, commercial, Wealth & asset management, testing & practices, financial Crimes and all other relevant and applicable laws and regulations.
SUPERVISORY RESPONSIBILITIES:
Manages staffing to ensure optimal performance in meeting the Risk Management Division's goals and the objectives of contributing to the Bancorp continued success in the Financial Services Industry. Assists in the recruiting process; conducts interviews and provides candid, timely feedback. Ensures proper orientation formal and informal for assigned employees. Identifies challenging work assignments, mentoring and education programs to give employees exposure to proactive problem solving throughout the company. Develops and maintains ongoing two-way timely and clear performance feedback to maintain healthy, proactive work relationships. Encourages open dialogue that promotes creative and out of the box problem solving skills. Researches and supports participation in leadership and skills based training for all staff levels. Participates in the mentoring program to help staff and senior auditors reach their professional goals. Aggressively prepares all levels of staff for future.
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:
- Bachelor's degree or equivalent work experience required.
- Mortgage Servicing Compliance experience preferred.
- Demonstrates working or functional proficiency sufficient to apply the use of software applications (Micro-Soft Office Suite) without assistance and minimal supervision.
- Able to Understand and conceptualize basic statistical analysis and theories. Solid experience in manipulating (validating, correcting, reformatting, and transforming) data into more than one format, (e.g. spreadsheets, flat files, databases, etc.)
- Strong analytical skills required to gather, assesses and present quantitative and qualitative data.
- Able to Develop and Support conclusions and make practical recommendations to the business Lines and/or Affiliates. Ability to Develop and implement controlled, systematic step-by-step processes based on guidance and procedures.
- Ability to work independently and in a team to Plan and accomplish a project or elements of a project (complexity of project scope to depend on seniority), identifying responsibilities, tasks, deadlines and pursuing their timely completion.
- Advanced understanding of consumer finance and of Fifth Third Banking and Mortgage products, business lines, Affiliate structure and operations, and Corporate support organization. Including, the bank's management teams and decision-making operations.
- Ability to work with a team, to identify and solve problems or Resolve issues, including members from other units such as the Legal department, audit department, or business Unit.
- Strong understanding of the Federal Reserve and consumer financial Protection Bureau (CFPB) Examination standards and general Regulatory issuances.
- Advanced understanding of the operations and interdependencies of the Affiliates and Bancorp.
- Including back-Office operations related to credit products.
- Advanced understanding of fair lending and responsible banking laws and regulations and the technical requirements of the Community Reinvestment Act (CRA), Interagency fair lending.
- Examination Procedures (IFLEP) and the Interagency CRA Examination Procedures (IEP).
- Excellent oral and written communication skills. Effectively communicates upward, downward and laterally. Displays a positive business presence with management and external contacts.
Compliance Manager - Mortgage Compliance
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.
Our extensive benefits programs are designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being. You can learn more about those programs on our 53.com Careers page at: https://www.53.com/content/fifth-third/en/careers/benefits.html or by consulting with your talent acquisition partner.
LOCATION -- Cincinnati, Ohio 45202
Attention search firms and staffing agencies: do not submit unsolicited resumes for this posting. Fifth Third does not accept resumes from any agency that does not have an active agreement with Fifth Third. Any unsolicited resumes – no matter how they are submitted – will be considered the property of Fifth Third and Fifth Third will not be responsible for any associated fee.
Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.
