Compliance Officer - Fintech Services
Compliance Officer - Fintech Services
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$ 90000 - 125000
1 Vacancy
Job Description
Salary Range: $90000$125000
At Midland States Bank base salary is one component of our Total Rewards program. Exact compensation is determined by factors such as (but not limited to) education skills internal equity and experience. This position offers additional compensation in the form of shortterm incentives (i.e. bonus and/or commission) and may include longterm incentives (i.e. stock awards). Benefits for this role include comprehensive healthcare wellbeing benefits paid family leave as well as generous paid time off. Total Rewards also include banking perks an Employee Stock Purchase Plan 401K plan with company match and may include the opportunity to participate in our NonQualified Deferred Compensation plan. Incentives and benefits are subject to eligibility requirements.
Position Summary
This role will be responsible for leading and overseeing the compliance efforts of thirdparty programs including BankingasaService (BaaS or Fintech relationships) throughout the life cycle of the programs. The Compliance OfficerBaaS will report to the Fintech Services Manager and will serve as adviser to the Director of Banking as a Service Chief Compliance Officer and executive management on appropriate measures to be taken to ensure ongoing regulatory compliance as the Company responds to changing market conditions. This is a leadership role that will also provide compliance expertise and guidance on bankwide projects and initiatives ensuring adherence to laws regulations and ethical standards.
Primary Accountabilities
People
- Manages a team of professionals in a customercentric culture to excel in a fastpaced environment.
- Coaches develops and conducts performance management activities with direct and indirect reports.
- Identifies highpotential employees for advanced training and development opportunities.
- Effectively manages poor performers.
ThirdParty Compliance Monitoring and Advisory
- Evaluates and monitors thirdparty vendor performance to ensure compliance with regulatory requirements contractual obligations bank and industry standards.
- Evaluates contracts with vendors emphasizing compliance aspects and risk management.
- Leads Fintech Partnership Oversight.
- Provides compliance expertise and guidance on bank wide projects to include Fintech oversight and BaaS as well as new product and system offerings.
- Identifies and analyzes risks associated with new and existing Fintech Leads thirdparties thirdparty products product channels and significant changes in existing products are properly evaluated and adequately communicated.
- Ensures that Project Teams Fintech Leads and BaaS partners develop and apply policies and procedures with a view to meeting our standards of integrity as well as federal state and local legislation and regulations.
- Maintains policy and standards for consumer & commercial compliance across all Fintech partnerships.
- Advisory on ThirdParty Compliance advising on potential risks.
- Serves as the subject matter expert on compliance issues related to thirdparty relationships.
- Advises senior management on potential risks and mitigation strategies in the realm of thirdparty relationships.
- Collaborates with other departments to direct compliance issues to appropriate existing channels for investigation and resolution.
- Collaborates with other departments to develop and implement policies and procedures that ensure compliance with federal and state laws and regulations.
Reporting Analysis and Documentation
- Assists with CRA and Fair Lending data collection and analysis to ensure that thirdparty CRA and fair lending efforts are aligned with bankwide goals and expectations.
- Gathers trends and analyzes complaint data and event escalations from third parties ensuring appropriate corrective actions are taken.
- Prepares internal risk assessments of individual thirdparty relationships as well as the BaaS program overall.
- Prepares and presents comprehensive reports to keep senior management informed of the operations progress and effectiveness of thirdparties compliance programs.
- Ensures meticulous documentation of all thirdparty transactions and compliance measures for audit purposes.
- Builds and maintains strong relationships with key stakeholders and team members within the bank and with thirdparty bank partners.
Other
- The role requires occasional travel for training and team meetings and willingness to travel periodically to locations within market as needed.
- May require work in a Midland office to ensure collaboration and support of internal and external customers.
- Maintain compliance with all applicable regulations including but not limited to the Bank Secrecy Act (BSA).
- Other duties as assigned.
Position Qualifications
Education/Experience:
- Bachelors degree in finance Risk Management Business Administration or a related field preferred.
- 8 years of demonstrated experience in banking compliance.
- Minimum of 3 years of experience leading teams with demonstrated success coaching and motivating team members.
- Proven ability to collaborate effectively and execute tasks within the designated areas of responsibility.
- Comprehensive understanding of federal and state banking regulations.
- Compliance professional certifications required. CRCM (Certified Regulatory Compliance Manager) or equivalent.
- Banking as a Service and Fintech experience is preferred but not required.
- Requires up to 10 travel to various locations and company branches and thirdparty locations across the country. Required to meet multiple priorities and project due dates.
- Excellent oral written and interpersonal communication skills with the ability to instruct others interpret documents and write reports and correspondence.
- Excellent organizational and time management skills.
- Ability to deal with complex problems involving multiple facets and variables in nonstandardized situations.
Competencies:
- Business insight
- Cultivates innovation
- Drives results
- Makes sound decisions
- Being a brand champion
- Collaborates
- Communicates effectively
- Customer focus
- Being Authentic
- Emotional Intelligence
- Self development
- Being flexible and adaptable
At Midland States Bank we believe that when we can bring our whole selves to work each day we become happier more comfortable more confident and more excited to do great things for our customers each other and our company. Were proud to be an Equal Opportunity and Affirmative Action employer. At Midland we recruit employ train compensate and promote without regard to race color religion gender gender identity or expression sexual orientation national origin genetics disability age or veteran status. If you are looking for a place to grow we encourage you to apply at Midland States Bank because you belong here.
If you require reasonable accommodation in completing this application interviewing completing any preemployment testing or otherwise participating in the employee selection process please direct your inquiries to Midland States Bank Human Resources at .
THIS JOB DESCRIPTION DOES NOT CONSTITUTE A CONTRACT FOR EMPLOYMENT
Required Experience:
Unclear Seniority
Employment Type
Full-Time
