Compliance Risk Manager Lead - Consumer Compliance

The Compliance Risk Manager is responsible for staying current on relevant laws and regulations and is expected to assess business unit situations, and apply past experience to minimize financial, reputational, and regulatory risks. This position supports the Bank’s Compliance Management System (CMS). The Compliance Risk Manager Lead – Consumer Compliance will support the CMS through maintaining Trustmark’s Satisfactory or better regulatory ratings that applies to the CMS which includes compliance with Consumer Compliance banking laws including the Equal Credit Opportunity Act (ECOA), Regulation DD - Truth-in-Savings Act (TISA), Regulation Z - Truth-in-Lending Act (TILA), and the Regulation CC – Expedited Funds Availability Act regulations by aiding in identifying and mitigating potential compliance risks. The position is responsible to set forth the policies and procedures and testing routines necessary to have an effective CMS oversight particularly in the area of Consumer Compliance. The position will be responsible for managing Consumer Compliance risk testing activities, advertising and marketing reviews, complaint management, and vendor management reviews throughout the Bank for risks related to Consumer Banking/Lending activities to identify potential areas of concern to improve Trustmark’s internal controls and reduce risk exposure.

• Compliance Management System Oversight
  • Consults with and advises business lines and other stakeholders on consumer compliance risks and controls through established review processes and procedures to determine whether the lines of business are compliant with Compliance policies.
  • As a subject matter expert, provide guidance to business units on Consumer Compliance regulations by keeping abreast of developing trends and changes in regulations relating to Consumer Compliance, including: TILA, TISA, ECOA, FDCPA, FCRA, EFTA, and other regulations as applicable.
  • Assists in the development and on-going maintenance of CMS standards.
  • Reviews business changes (e.g., new or modified products or services) for policy adherence and to identify and assess risks and ensure appropriate risk mitigation is in place prior to implementation. If not, recommend enhancements to the lines of business.
  • Participates in regulatory change management assessments and associated business change projects.
  • Stays current on business line products, services, and processes, distribution channels, geographies, organizational structures, and related regulatory requirements.
  • Maintains appropriate knowledge of and stay current on consumer compliance laws and regulations, guidance, and other legal and regulatory developments, and how they apply to the Company and assigned business lines.
  • Provides summary reporting of results derived from the consumer compliance life cycle testing.
  • Assist in the execution of the GCRA risk assessments.
• Consumer Compliance Review
  • Reviews internal and external materials with compliance impact to identify adherence to Compliance policy and assess risk and ensure appropriate risk mitigation prior to production. Materials include customer-facing information (e.g., marketing) and employee-facing information (e.g., procedures and training). Make recommendations for materials that do not comply with Compliance policy.
  • Lead development of test scripts for complex Consumer Compliance risk reviews.
  • Identify, draft and present issues that require corrective action. Provide guidance and oversight of resolution plans that address identified issues. Work with the lines of business to determine the best course of action.
  • Monitor complaints and analyze complaint data for trends to assess potential Compliance risks.
  • Evaluate the adequacy and effectiveness of 1LOD and 2LOD policies, procedures, processes, initiatives, products, and internal controls. Recommend necessary changes to align with regulatory expectations.
  • Conduct self-testing and draft reports of findings and provide recommendations to business line management with limited assistance.
• Training and Documentation
  • Works in concert with the Training Area to deliver training to management and bank associates relating to Consumer Compliance requirements and ensure that training stay abreast of changing regulations and policies.
  • Update policies and programs related to Consumer Compliance periodically to ensure these documents reflect changes in applicable federal, state, local laws and regulations (including emerging risks).
• Program Development
  • Update the Consumer Compliance training (which includes: Regulation CC, Regulation DD, Regulation E, and Flood) and determining the bank’s annual Compliance training needs.
  • Partner with FRB-UDAAP in the development of the Enterprise ADA program, policy, and training. As well as acting as liaison to the first line of defense and the development of second line of defense control monitoring.
  • Supports the Compliance Department as needed.
• Independent Judgement Characteristics
  • Develop and implement compliance program, strategies, policies, and training based on state and federal laws.
  • Design and regularly assess the efficiency of control systems and recommend effective improvements.
  • Oversee all lines of business operations related to compliance including policies, procedures, and reports to ensure all departments meet state or federal requirements.
  • Conduct monthly, quarterly, semi-annual, and annual self-testing on the lines of business to identify and assess potential risk and develop plans to minimize or eliminate them. Work with lines of business to determine the best course of action.
  • Evaluate team member’s knowledge of policies and educate them on work-related laws and regulations.
  • Work with lines of business and executive management to address compliance violations and/or issues and identify solutions.
• Perform additional duties as assigned.

• Bachelor’s degree in Economics, Finance, Public Administration or Business Related preferred. A combination of education and experience may meet job requirements
• 3 to 6 years of experience in financial institution, auditing firm, or consulting firm in a compliance, audit, or risk management preferably in a banking institution
• Knowledge of consumer protection laws and regulations impacting financial institutions with demonstrated proficiency in applying these principles
• Ability to manage and provide compliance related oversight to multiple business lines
• Thorough knowledge of banking operations
• Strong knowledge of Microsoft applications, primarily Excel, Teams, PowerPoint, Outlook, Access, SharePoint, Word and other database analysis and reporting tools
• Demonstrated skills in critical thinking, diligence, interpersonal, problem solving, and analytical skills
• Excellent verbal and written communications skills, and ability to interface with senior management
• Highly proficient in time management, planning, and prioritization
• Ability to work in fast-paced, changing environment and meet deadlines with strict timeframes
• Ability to work on and track multiple tasks and priorities
• Highly motivated with the ability to be proactive, take initiative, carefully monitor, follow through, and complete projects/responsibilities in a professional and timely fashion
• Strong interpersonal and communication skills, including the ability to interact freely and comfortable with staff and management at all levels
• Ability to exercise sound judgment and work independently

       Preferred Skills:

• Effective communication skills
• Process development experience
• Strong project management skills are a plus
• CRCM, CIA, or other Compliance/Audit Certifications or the ability to attain within one year of employment
• 6+ years’ experience developing testing scripts and methodology for Consumer Compliance
• ADA, Advertising/Marketing, and Complaint Management compliance experience

Physical Requirements/Working Conditions: Must be able to sit for long periods of time and use computer keyboard and/or mouse, while viewing computer screens.

Note: This is a brief description of this position and is not limited to those described herein. Management retains the right to add, delete or modify any of these responsibilities at any time during employment.