Description:
Patriot Bank is a U.S. fintech issuer serving the under-banked and under-served throughout the United States. Headquartered in Stamford, CT, we leverage our national charter to offer innovative, digitally driven products and services throughout the United States through organic growth, strategic partnerships, and regular adoption of new products and services. Our knowledgeable, empowered, and dedicated staff provide rapid decision-making and exceptional service to meet the unique needs of our customers, supported by robust compliance capabilities, and leading technology partners. This position will be the primary compliance and oversight professional to help us develop and manage the compliance function within the Digital Payments Business at Patriot Bank, including compliance matters with respect to regulated activities in coordination with our partner firms. Leading a Compliance team within the business unit specific, this role is needed for current support and planned, future growth.
We are looking for a Director of Compliance to join our team. In this role you will lead Patriot's “Digital Payments” compliance program and evaluate existing regulations, perform compliance risk assessments, provide regulatory guidance on existing products and new product development, and advise on platform development in response to changing regulations.
- Work with stakeholders to ensure the execution of the Bank's Digital Payments Compliance Program, ensuring alignment with corporate compliance and strategic direction and recommend policy and/or action based on internal and external industry developments for area of responsibility.
- Ensure that the BSA/AML Digital Payments Compliance program is in line with current industry best practices and is both efficient and effective in terms of current BSA/AML/OFAC and KYC governance and internal controls per all applicable regulations.
- Act as subject matter expert on debit and credit card regulatory compliance and ensuring products and associated documentation conforms to regulatory obligations.
- Support the Bank’s Digital Residential Mortgage Banking program.
- Evaluate existing regulations, perform compliance risk assessments, provide regulatory guidance on new product development, advise on platform development in response to changing regulations, identify and develop monitoring and testing routines and partner with business leadership to address client inquiries.
- Serve as a resource to business units, internal team members, and management providing a range of support and analysis on regulatory compliance requirements, issues, and/or best practices, including the provision of guidance in the design, development and/or enhancement of processes and controls to manage compliance risks.
- Regularly engage with networks, bank partners, and relevant regulatory entities as necessary.
- Develop and create trending analytics, heatmaps, key performance indicators, key risk indicators, and other metrics to measure and assess the Bank's compliance risks to Third Party Clients, including Prepaid Card Program Managers.
- People management (hiring and mentoring) of a small compliance team of Payments experts. Organizing daily meetings to go through priorities and tasks with each team member.
- Review marketing materials, disclosures, and other customer communications subject to consumer protection regulations for compliance.
- Provide support with regulatory compliance examinations, and/or compliance audits or reviews.
Requirements:
- 10+ years of regulatory/consumer compliance experience, with experience serving in a compliance management function.
- Knowledgeable in prepaid, debit, and credit card regulatory compliance and ensuring products and associated documentation conforms to regulatory obligations
- Extensive knowledge in the law, regulations, and subjects applicable: BSA, TILA/Reg Z, Privacy, Complaints, Fair Lending, EFTA/Reg E, Residential Mortgage.
- Experience developing the elements of a compliance program, including risk assessment, monitoring and testing planning, third party oversight, and compliance training).
- Experience communicating compliance risks associated with product proposals and advising stakeholders on developing both customer-facing content and key operational controls.
- A strong understanding of consumer financial services with a strong preference for experience with a consumer financial technology company.
- Demonstrates sound judgment; comfortable dealing with ambiguity; weighs options and alternatives in a timely and effective manner.
- Results-driven, self-starter possessing exemplary communication skills, collaboration and influencing skills.
- Collaborative team-player who can find creative and practical solutions in a dynamic work environment.
- Ability to work under pressure, exhibit timely decision making, and with a sense of humor and balance. Ability to handle ambiguity, balance multiple matters at once, and quickly and seamlessly shift from one situation or task to another
- Ability to mentor and manage junior compliance staff.
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