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Five Star Bank · 1 day ago

Compliance Tester

Rochester, NY

Full-time

Hybrid

Mid Level

$62K/yr - $70K/yr

3+ years exp

Five Star Bank is seeking a Compliance Tester responsible for ensuring compliance with federal and state banking laws. The role involves executing complex testing for compliance requirements, managing testing schedules, and developing compliance policies and procedures.

BankingFinancial ServicesInsurance

Responsibilities

Execute targeted, complex testing for line of business compliance requirements in alignment with team and program methodology while advancing corporate goals and objectives

Demonstrate an understanding of business processes, control frameworks, and related regulatory and compliance standards

Manage testing schedules to ensure all tasks and reporting are completed within established timeframes and documented within system of record

Systematically retaining documents that substantiate test results

Review tests executed by colleagues for accuracy and adherence to test plan and procedures

Develop and execute testing plans, continually validating and improving existing design while also identifying new opportunities to execute tests in high-risk areas

Develop and maintain compliance policies and procedures specific to BaaS operations. These policies should address the regulatory environment and be communicated to all relevant stakeholders

Request and analyze data; supporting and initiating efforts to improve data sourcing and driving innovation with business partners

Demonstrate the ability to explore and quickly grasp new technologies and processes to progress team initiatives

Communicate results to Compliance Officers, Legal, and Business Partners

Demonstrate strong time management, organizational, and prioritizations skills; completing multiple concurrent tasks

Exhibit strong problem solving and conceptual thinking skills

Prepare regulatory reports and filings as required

Develop and implement incident response plans to address and report any compliance breaches or other emergencies promptly

Fulfill responsibilities with professionalism, respect for others, in accordance with the organization’s policies and applicable laws

Champion and execute process improvement recommendations that help to improve effectiveness and efficiencies of business units in mitigating compliance risk

Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of HEART in every facet of work

Qualification

Compliance testingRisk managementRegulatory complianceQuality assuranceData analysisMicrosoft OfficeVerbal communicationWritten communicationProblem solvingOrganizational skills

Required

Education: High School Diploma

Prior Experience: 3+ years experience in compliance testing, risk management, compliance monitoring, quality assurance, control review or audit. Understanding of and experience applying regulations governing Deposit Accounts and Consumer-based lending products

Strong knowledge of regulatory compliance, risk management processes, and issue management

Experience conducting compliance risk assessments and compliance testing activities

Extensive knowledge of financial institution policies and procedures

Extensive ability to read, analyze and interpret government regulations, trade journals and legal documents

Must be able to respond to common inquiries from regulatory agencies, courts, and outside consultants

Strong verbal and written communication skills and ability to interact positively with a wide variety of individuals; proven ability to work with senior management to solve complex problems

Strong experience level with all Microsoft Office applications including the ability to learn new and existing banking software

Some periodic travel (approximately 25% travel)

Able to regularly sit for prolonged periods of time

Able to travel frequently

Extensive computer usage is required