COMPLIANCE OFFICER - VP NetSpend
The Compliance Officer works with netSpend employees, netSpend issuing / partner banks, payment associations (MC, Visa, Pulse, etc) and externally with government regulators to ensure that institutional activities are in compliance with federal, state, and local laws as well as payment network compliance standards.
Duties include monitoring new developments in financial regulation and keeping key personnel apprised of recent updates. Compliance officers also assess how new rules may affect an institution and advise management on how to revise policies and conform to updated regulations.
Develops, administers and monitors programs for compliance with laws, regulations and rules governing operations and product offerings. Informs and educates appropriate personnel, and Senior Management Team of all compliance responsibilities. Ensure Senior Management is continuously informed of all aspects of the compliance activities, including an evaluation of its relative risk exposure related to compliance.
Authors key compliance policies and reviews netSpend policies and procedures for compliance.
As the Chief Compliance Officer for netSpend, serves as key regulatory officer capacities (i.e. Acts as the Bank Secrecy Act Officer, Privacy Officer, etc).
Reports into the Legal Department.
Core duties will include but are not limited to the following:
Perform risk assessments, identify improvements required in the Compliance Program and ensure improvements are made operational and sustainable in an auditable manner.
With support from operations, risk and the compliance team, utilizes tools and processes in monitoring compliance with laws and regulations (i.e. Regulation E, State Escheatment, BSA/AML, Privacy, etc).
Partner with business segments in compliance training initiatives to ensure employees and management are adequately trained and adept in implementing laws and regulations.
Work with Legal and Government Relations to stay abreast of changes in laws and regulations and recommend appropriate changes to ensure that ops adapt to comply with these changes.
Manage regulatory and bank partner relationships (for compliance related matters) along with strong integration into the business routines to update mgmt. on issues, progress and priorities as it relates to consumer compliance to respective business line.
Implementation of testing and monitoring programs.
Reviewing, revising and, at times, drafting policies, procedures, and guidelines to ensure business processes are in compliance with legal and regulatory requirements and enterprise-wide compliance programs.
Overseeing and maintaining a compliance training program for business unit employees driven by risk assessments, new and amended laws applicable to the Company and changes in business processes.
Monitoring and validating the implementation of:
Significant business process changes required because of a change in law or increased regulatory, litigation, or reputational risk or
New material products and services to ensure implementation is consistent with existing laws and regulations
Candidate will work closely with business and legal professionals, and thus, the ability to build relationships is essential.
Compliance Program Administration
Develop, administer and monitor a program that ensures the compliance with all applicable laws, regulations, and rules governing operations and product offerings.
Maintain netSpend?s compliance library, utilizing current technology whenever possible.
Draft comment letters regarding proposed regulatory changes affecting the netSpend.
Serve as an in-house expert to provide compliance advice and guidance to all staff, addressing any compliance questions. Working with the Marketing, Product, and Business groups and other staff with development of new products and/or delivery systems, or modifying existing ones, to identify any compliance relates issues or new compliance requirements.
Compliance Review and Audit
Works with an independent compliance auditing firm to develop an annual risk-based audit schedule ensuring that those areas with greatest potential risk receive appropriate audit attention.
Coordinates annual compliance audits with an independent outside audit firm, working with several staff members to gather information requested by the auditors.
Works with department managers to make improvements to systems in order to correct any violations or operational deficiencies found, and prepares responses to the audit reports for the Senior Management Team and Board of Directors within 30 days of receiving the final report.
Review advertisements and new products to ensure compliance.
Supervise the record retention and disposal program.
BSA Officer and Program Administration
Develop and maintain a BSA program that is in compliance with the regulation.
Obtain annual Management and Board approval of the BSA Policy.
Conduct annual training of Bank staff.
Maintain list of exempt customers.
File Suspicious Activity Reports as necessary.
Provide direction and oversight to employees who perform BSA related tasks.
Maintain the Bank?s Privacy Policies and Procedures designed to maintain compliance with the Gram Leach Bliley Act.
Conduct annual training of Bank staff, and provide direction and support as needed.
Oversee annual distribution of privacy brochures to Bank customers.
Perform analysis and approval of all new vendors who may have access to, or store, customer information to ensure their compliance with the provisions of the Gram Leach Bliley Act.
Perform periodic analysis and approval of all vendors who may have access to, or store, customer information to ensure their compliance with the provisions of the Gram Leach Bliley Act.
Maintains the Bank?s central file for Privacy compliance with the Gram Leach Bliley Act.
Compliance Communication and Training
Schedules meetings with departments and supervisors, as necessary, to provide information on compliance changes that affect them.
Develop an annual training schedule/program that covers appropriate topics. Training topics will provide a complete overview of the compliance function to all employees with more focused topics for areas that deal with compliance issues in their daily job function.
Develop and maintain compliance manual for NetSpend. Work with department managers to ensure that compliance topics are covered in procedure manuals.
Serve as netSpend?s representative to the regulatory authorities with respect to netSpend?s compliance, including the management of all regulatory examinations. Prepare internal components for examinations, conduct post follow up, prepare responses and oversees corrective actions.
Oversee all compliance related communication and ensure such communication is comprehensive, accessible, current and appropriate for all employees.
Completes other duties as requested.
Qualification Requirements: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and Experience:
Eight plus years experience, preferably with a regulatory agency or law firm or in a compliance function at a financial institution. Candidate?s experience should include advising on consumer financial products with strong knowledge of the Equal Credit Opportunity Act (Regulation B), Regulation E, Serviceman?s Civil Relief Act, FCRA, Truth in Lending Act (Regulation Z), FTC Act, Regulation AA, GLBA and regulatory expectations regarding unfair, deceptive, or abusive acts of practice along with other appropriate regulations.
A CRCM certification or comparable regulatory compliance certification or a law degree is preferred, but not required (Several options of certification exist, including Certified Bank Compliance Officer (CBCO), Certified Regulatory Compliance Manager (CRCM), or Certified Regulatory and Compliance Professional (CRCP)).
Four year college business related degree preferred.
As provided in NetSpend's Background Check policy, eligible candidates may be subject to drug, criminal history, and credit checks, which will be conducted and used in accordance with applicable local, state, and federal laws
||P.O. Box 2136 |
Austin, TX 78768