Lone Tree - CO, DENR2, 9800 Schwab Way, 80124
We believe that, when done right, investing liberates people to create their own destiny. We are driven by our purpose to champion every client’s goals with passion and integrity. We respect and appreciate the diversity of our employees, our clients, and the communities we serve. We challenge conventions strategically to create value for our clients, our firm and the world. We live and bring to life the concept of ‘own your tomorrow’ every day. We champion our employee strengths, guide their development, and invest in their long-term success. We hire optimistic, results-oriented, curious, innovative, and adaptable people with the desire to help our clients and one another succeed.
As a company, we were established by Chuck over 40 years ago to champion Main Street over Wall Street, and to help Americans transform themselves from earners to owners. Through advocacy and innovation, we work to make investing more affordable, accessible and understandable for all. As we enter our fifth decade, we are looking for talented, innovative and driven people who believe they can help themselves, and our clients, create a better future.
Banking & Trust Services (BTS) is the business enterprise within Schwab overseeing Charles Schwab Bank and the Charles Schwab trust companies. The BTS organization offers deposit, loan and trust products to Schwab clients who are looking for holistic wealth management solutions that complement their brokerage activities. The integrated banking and brokerage services represent the strong value proposition we offer our clients.
Charles Schwab Bank is a full-service bank that offers a range of competitive deposit and lending products. In 2003, we launched Schwab Bank as a bank for investors, and it has grown to be the 12th largest bank in the United States. Our goal is to offer a banking experience that complements the Schwab brokerage capabilities, providing banking products tailored to meet our clients’ unique needs as investors, all in one convenient location. Consistent with the brand, we offer exceptional client experience.
The Sr. Team Manager, Third Party Compliance Testing and Monitoring is responsible for developing, managing, and executing a comprehensive compliance monitoring and testing program to periodically evaluate the effectiveness of the controls that third party vendors have established to comply with applicable regulatory requirements. Sr. Team Manager, Third Party Compliance Testing and Monitoring will develop a risk-based compliance testing and monitoring program and associated reporting.
The Sr. Team Manager, Third Party Compliance Testing and Monitoring plays a key role in the program development, testing, monitoring, reporting and remediation of third party compliance activities. Banking and Trust Services follows the three lines of defense model of risk governance. The Sr. Team Manager, Third Party Compliance Testing and Monitoring is a first line of defense position and assures compliance with all policies and procedures, as well as all applicable state and federal regulations in the context of their responsibilities. The role is a combined management \ delivery role with a mix of approximately 20% strategy and staff oversight and 80% hands-on delivery responsibilities related to testing and monitoring of third party activities.
What you’ll do:
- Develop, manage, & execute ongoing compliance testing and monitoring program designed to evaluate the effectiveness of third party vendor controls used to comply with applicable regulatory requirements of the third party’s products and services.
- Orchestrate a detailed program document and senior management reporting that provides the framework for the execution of the third party compliance program to include program development, reporting, and governance
- Build escalation and communication protocols based on defined triggers and thresholds
- Generate daily, weekly, and monthly executive level risk reporting as needed for compliance information
- Manage Testing & Monitoring examiners. This includes, but is not limited to, ensuring each individual is appropriately trained and meeting expectations of their individual responsibilities and the relevant success factors.
- Assist in managing and/or conducting the compliance testing and monitoring program to periodically evaluate the effectiveness of the internal controls established to comply with applicable regulatory requirements for deposit and lending products
- Execute the annual testing and monitoring program for deposit and lending. Ensure the regulatory requirements within the Compliance Risk Assessment are considered in the scope of the testing and monitoring
- Ensure the reviews are completed timely and adequately documented to evaluate the effectiveness of the internal controls, and that they comply with Corporate Compliance Testing Standards & Methodology and the Bank Outsourcing Oversight Management testing and monitoring procedures
- Maintain a strong working knowledge of federal regulations applicable to lending and deposit activities
- Maintain strong working knowledge of the CFPB Exam Procedures and OCC Consumer Compliance Exam Procedures (collectively “Regulatory Exam Procedures”) for deposit and lending products. Develop a testing and monitoring scope that incorporates, as applicable, the Regulatory Exam Procedures
- When issues are identified from compliance testing & monitoring, work with third party vendor and process owners to develop the corrective action plans. Ensure plans adequately enhance the controls to comply with Bank policy or applicable regulatory requirements
- Ensure compliance issues identified from testing and monitoring program are followed-up and corrective action plans are properly executed to comply with Bank policy or applicable regulatory requirements
- Assist with federal banking regulatory exams by gathering requested information
- Maintain, and enhance and/or update as necessary, the compliance testing & monitoring procedures
- Track issues identified in testing and monitoring, and ensure follow-ups are performed to validate that appropriate corrective action plans has been completed
- Determine and report on each scenario whereby either vendor will remediate, or Charles Schwab Bank will mitigate or accept risk.
- Develop and ensure reports are designed to provide the Board, Management and appropriate committees with information to evaluate compliance performance of third parties.
- Provide periodic updates to the Board, Management and appropriate committees on the status of the testing and monitoring program
- Assist with federal banking regulatory exams, including advance preparation and coordination of requested information; effectively write responses to pre-exam and intra-exam questions
- Other duties as may be assigned
- Build strong relationships with internal business partners and the third parties to achieve goals.
- Partner with 2nd and 3rd Lines of Defense to ensure all new regulations are understood and executed as part of the 1st Line of Defense compliance oversight program
- Provide leadership and supervision to a team of third party management professionals.
- Hire, train, coach, develop and provide annual written performance feedback to all staff
- Arrange for ongoing subject matter and regulatory training to ensure staff is current with regulatory issues and industry best practices
- Lead annual employee engagement evaluations, reviews, and action plans. Consistently achieve high employee engagement scores
- Ensure staff compliance with Bank policies and procedures, state and federal regulations
- Effectively attract, grow and retain talent in support department and firm objectives
What you have:
- 8+ years of Banking compliance, including mortgage lending and deposit product compliance
- 6 years of experience in Bank Compliance, Bank Internal Audit or as a Bank Examiner
- Experience with orchestrating compliance testing and monitoring programs
- Strong knowledge of consumer compliance regulations
- Must be able to build strong relationships throughout the organization
- Ability to prioritize and manage multiple projects
- Ability to succeed in a fast pace heavy workload environment
- Strong oral and written communication skills required, including the ability to document program requirements and report on program results
- Ability to work independently
- Proven record of tracking and measuring results
- Bachelor’s degree
What you’ll get:
- Comprehensive Compensation and Benefits package
- Financial Health: 401k Match, Employee Stock Purchase Plan, Employee Discounts, Personalized advice, Brokerage discounts
- Work/Life Balance: Sabbatical, Paid Parental Leave, New Mothers returning to work Program, Tuition Reimbursement Programs, Time off to volunteer, Employee Matching Gifts Program
- Everyday Wellness: Health and Lifestyle Wellness Rewards, Onsite Fitness Classes, Healthy Food Choices, Wellness Champions
- Inclusion: Employee Resource Groups, Commitment to diversity, Strategic partnerships
- Not just a job, but a career, with an opportunity to do the best work of your life
Learn more about Life@Schwab.
Charles Schwab & Co., Inc. is an equal opportunity and affirmative action employer committed to diversifying its workforce. It is Schwab's policy to provide equal employment opportunities to all employees and applicants without regard to race, color, religion, sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), gender identity or expression, national origin, ancestry, age, disability, legally protected medical condition, genetic information, marital status, sexual orientation, protected veteran status, military status, citizenship status or any other status that is protected by law. Schwab also does not discriminate against applicants or employees because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. At Schwab, we believe that every employee, through their diverse abilities and experiences, can contribute to our growth, innovation and client loyalty. We embrace diversity and are committed to providing equal opportunity to all employees and applicants. If you have a disability, and require reasonable accommodations in the application process, call Human Resources at 800-725-3535. We will be happy to assist you. Schwab will only share your accommodation request with those individuals who have a specific need to know. The request for an accommodation will not affect Schwab's hiring decisions. All other submissions should be performed online.
||English - spoken
|Current Licenses / Certifications:
|Relevant Work Experience:
||Internal Audit, Banking-6+ yrs, Regulatory, Risk Analysis, Compliance
|Position Located In:
||CO - Lone Tree
Activation Date: Tuesday, March 13, 2018
Expiration Date: Tuesday, May 1, 2018