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Director, Compliance FLOD

Company: SVB Financial Group
Location: Santa Clara
Posted on: June 10, 2021

Job Description:

Silicon Valley Bank is the banking partner behind the most innovative and exciting companies globally. Our clients have redefined solutions in many areas of the global economy, and we have powered their success by providing them the right financial solution whether they are a promising little startup, an exciting venture backed company, a successful private equity company or a game changing biotech company. Inspired by them, we are redefining Banking.

This first line of defense (FLOD) compliance role will be part of a new team that sits within the broader Business Risk Management function of the Commercial Bank. Partnering closely with the business units, the role is generally responsible for helping to advise and support the business on all things compliance related, including meeting requirements of ERM, ORM, Compliance and other second line of defense groups. This position will manage a team of 6 other risk officers.

The right candidate thrives in a high performance and fast-paced environment and will enjoy the challenge of coming in on the ground floor to help build out a best in class FLoD Compliance function.

Specific responsibilities include:

  • Understanding Regulatory Requirements and Business Applicability
  • Be aware of applicable laws and regulations as well as corporate compliance policies.
  • Understand regulatory changes as communicated by 2nd LOD, and identify the specific compliance risks that apply to supported business unit (BU), and the applicable banking and financial services products available or supported through the BU.
  • Have an understanding of business process flows and be able to explain how the processes are designed to meet regulatory requirements.
  • Identify areas and administer training where BU needs tailored training in tying potential compliance and regulatory risks to the BU's current or changing applicable process, products and services

  • Risk Assessments & Audit/Exam Support
  • Work with Business Risk Officers during client, product, and business risk assessments to evaluate the inherent and residual compliance risks.
  • Assist and facilitate audits, exams, reviews, conducted by 2nd LOD (CMT), Internal Audit, and federal and state examiners. Facilitate walkthroughs, provide documentation, and assist in development of action plans.
  • Assist BUs with the development of compliance related MAPs and track progress to close all issues, whether self-identified, or through Compliance Monitoring and testing (CMT) or Internal Audit

  • Controls Management
  • Using the corporate controls framework, ensure the internal controls addressing compliance risks are documented, including documentation of lack of controls.
  • Assess the design and effectiveness of the controls in place to manage compliance risks.
  • Work with centralized FLoD testing team to develop test plans of key controls and action plans when gaps exist.
  • Self-identify compliance gaps in business processes. Communicate the gaps to appropriate 2nd LOD unit (ORE, Compliance issues, etc.)

  • Change Management Support
  • Identify and track changes, triggered by the BU, that affect compliance risks.
  • Provide 1st LOD compliance review, guidance, and approvals for compliance risks related to any business changes, prospects & clients, products, processes, etc. within supported Business Units.
  • Follow the Corporate Compliance Change governance process to ensure the change events are duly assessed for compliance risks, and mitigating measures are developed and implemented.
  • Participate in UAT testing and provide user acceptance, as needed, for technology or process changes that address regulatory requirements.
  • Ensure the acceptance of compliance risks is within the organization's risk appetite boundaries.

  • Monitoring & Reporting
  • Work with Business Risk Officers to ensure 1st LOD leadership and 2nd LOD Corporate Compliance reports reflect compliance related issues, potential red flags, escalations, and risk acceptances.
  • Work with Business Risk Officers to develop quantitative and qualitative metrics/KRI that assist in monitoring compliance with regulatory requirements.

  • Bachelor's degree required (Master's degree desirable) with a minimum of 8-10 years of relevant financial services compliance experience with working knowledge of banking regulations.
  • Direct experience working in a first or second line compliance role within a financial institution and/or consulting experience advising financial institutions on the implementation of effective compliance risk management programs.
  • Strong expertise with MS Office including Word, Excel, PowerPoint, and Visio as well as Adobe. Expertise with Tableau and experience with GRC tools a plus.
  • Dedicated team player.
  • Excellent interpersonal, communication and organizational skills.
  • Demonstrated project management, analytical and problem-solving skills.
  • Ability to collaborate, negotiate, influence and build consensus across the organization.

Keywords: SVB Financial Group, Santa Clara , Director, Compliance FLOD, Other , Santa Clara, California

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