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Consumer Business Risk and Compliance Manager, Consumer Lending

Company: Busey Bank
Location: Champaign
Posted on: July 9, 2024

Job Description:

Position SummaryThe Consumer Business Risk & Compliance Manager is responsible for developing, updating and/or facilitating the implementation of consumer-specific business risk procedures to minimize the organization's exposure to regulatory criticism, reputation, and financial risk of loss.Duties & Responsibilities

  • Assess existing controls frameworks throughout the consumer business lines for adequacy against the Company's enterprise-wide controls framework.
  • Provide recommendations for improvements where deficiencies are identified and monitor resolution/implementation of the recommendations.
  • Provide guidance to business line staff when control improvements are needed to ensure control design and/or enhancement objectives adequately mitigate risk in the most operationally efficient manner possible.
  • In coordination with business line staff, develop or enhance control testing standards and monitoring tools to evaluate the design and operating effectiveness of key controls; monitoring includes, sample testing, end-to-end process reviews and reviewing key indicators (where they exist).
  • Function as a liaison between the second line of defense and the business lines to ensure appropriate coordination on consumer-related changes in law and regulation by translating the regulatory impact into the business lines' operations.
  • Support change management necessitated by 1) the impact of new legislation/regulations or 2) the introduction or modification of new products and services insofar as they relate to an existing controls framework or require the creation of new controls; assist business line staff in implementing monitoring programs to ensure new processes/controls are both effective and being followed.
  • Provide direct assistance to business lines in support of enterprise-wide efforts to identify, assess, measure, monitor, and report risk; when levels of risk are outside of appetite, assist in implementing mitigating controls and ensure evidence of associated training.
  • Create and maintain reporting that captures the status of a variety of risk and compliance projects and initiatives to keep business line staff and management, as well as second line partners, informed about first line priorities and progress.
  • Respond to queries from business line staff, and other internal parties, insofar as they relate to consumer business risk and compliance work.
  • Conduct project work on specified regulatory obligations or operational risk issues.
  • Participate in the interpretation of new legal and regulatory requirements, identify relevant requirements, and oversee implementation of these requirements, where appropriate.Education & ExperienceKnowledge of:
    • Strong oral and written communication skills; can adapt communication and presentation style to fit various audiences.
    • In-depth knowledge of consumer lending and/or consumer deposits complianceAbility to:
      • Develop new procedures and approaches to remediate a variety of issues and findings.
      • Problem-solve by making sound and timely recommendations or decisions to keep forward progress; is discerning and applies situational knowledge to determine appropriate action or escalation.
      • Identify process efficiency and automation opportunities to strengthen control effectiveness.
      • Establish and maintain collaborative partnerships at all levels throughout the organization.Education and Training:
        • Bachelor's degree or the equivalent combination of education and experience; Business or Finance degree preferred.
        • 8-10 years' experience in financial services with an audit, risk management or compliance background and/or experience with consumer compliance and assigned products
        • Proficiency in Microsoft OfficeBusey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey's commitment of delivering service excellence. Busey is an Equal Opportunity Employer including Disability/Vets. Visit Busey.com/Careers to learn more about Busey's Equal Opportunity Employment.

Keywords: Busey Bank, Champaign , Consumer Business Risk and Compliance Manager, Consumer Lending, Executive , Champaign, Illinois

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