Compliance Quality Assurance Specialist
About the position
The Open Banking Compliance Quality Assurance Specialist at Evolve Bank & Trust plays a crucial role in ensuring that third-party payment providers and fintech compliance programs adhere to the laws, regulations, and rules governing Open Banking. This position is responsible for monitoring the compliance of Open Banking partners, which includes overseeing transactions, policies, procedures, and current processes to ensure they align with regulatory requirements. The specialist will keep management informed about all aspects of the Bank's Open Banking compliance risk, ensuring that the organization maintains a robust compliance framework. In this role, the specialist will operationalize compliance regulatory requirements by drafting necessary procedures and process documentation. They will conduct initial and ongoing due diligence of third parties, which includes performing compliance risk assessments, marketing compliance reviews, and evaluating compliance management programs. Staying updated on developing trends in the financial services industry is essential, as is promoting a culture of compliance within the organization to ensure effective risk and compliance management practices. The specialist will need to understand the business and regulatory compliance requirements for payment processors, including Money Services Businesses (MSBs), and ensure that all functions are performed within those requirements. They will maintain up-to-date knowledge of financial services compliance regulatory changes and the fintech industry landscape, participate in the development of technological enhancements, and review existing operational procedures to recommend improvements with a focus on automation and efficiency. Additionally, the specialist will act as a liaison between third parties, business lines, operations, and technical areas to ensure appropriate compliance risk oversight. They will also assist in the development, implementation, and periodic performance of key controls, maintain the Open Banking compliance library, and manage ad-hoc projects as required. This position may also involve developing Open Banking compliance-specific training to ensure all stakeholders are well-informed and compliant with the necessary regulations.
Responsibilities
Operationalize compliance regulatory requirements, including drafting procedures and process documentation.
,
Perform initial and ongoing due diligence of third parties including compliance risk assessments, marketing compliance reviews, and evaluation of compliance management programs.
,
Stay up to date on developing trends in the financial services industry.
,
Promote a 'culture of compliance' to ensure efficient and effective risk and compliance management practices by adhering to required standards and processes.
,
Understand business and regulatory compliance requirements for payment processors including MSBs and ensure functions are being performed within those requirements.
,
Ensure open banking third party programs are in compliance with laws and regulations applicable to the products and services engaged with Evolve Bank & Trust.
,
Maintain up to date knowledge on financial services compliance regulatory changes and the fintech industry landscape.
,
Participate in the development of technological enhancements.
,
Review existing operational procedures and methods and recommend changes for improvement with an emphasis on automation and efficiency.
,
Function as the liaison between third parties, business lines, operations, and the technical areas and the compliance function to ensure appropriate compliance risk oversight.
,
Understand applicable consumer protection laws and regulatory landscape and compliance requirements for new and existing Evolve Open Banking products and services.
,
Assist in the development, implementation, and periodic performance of key controls.
,
Maintain the Open Banking compliance library, including developing Open Banking (Banking as a Service) compliance specific training.
,
Manage ad-hoc projects, as required.
Requirements
Bachelor's Degree or above.
,
Minimum of 3-5 years' experience of Open Banking (Banking as a Service) Compliance and/or financial services audit, operations experience or equivalent.
,
Experience operating and contributing to a strong compliance management system/program.
,
Strong knowledge of consumer and general compliance regulations including Regulation B, Regulation E, Regulation DD, Regulation Z, and UDAAP.
,
Understanding of compliance risk methodologies and due diligence.
,
Prior Banking Compliance Quality Assurance experience, a plus.
,
Skilled with Microsoft Word, Excel, Outlook and related software applications.
,
CRCM certification is a plus.
Nice-to-haves
Experience with digital-only banking environments including mobile-only or mobile first banking.
Benefits
Remote work available.
Apply Now
The Open Banking Compliance Quality Assurance Specialist at Evolve Bank & Trust plays a crucial role in ensuring that third-party payment providers and fintech compliance programs adhere to the laws, regulations, and rules governing Open Banking. This position is responsible for monitoring the compliance of Open Banking partners, which includes overseeing transactions, policies, procedures, and current processes to ensure they align with regulatory requirements. The specialist will keep management informed about all aspects of the Bank's Open Banking compliance risk, ensuring that the organization maintains a robust compliance framework. In this role, the specialist will operationalize compliance regulatory requirements by drafting necessary procedures and process documentation. They will conduct initial and ongoing due diligence of third parties, which includes performing compliance risk assessments, marketing compliance reviews, and evaluating compliance management programs. Staying updated on developing trends in the financial services industry is essential, as is promoting a culture of compliance within the organization to ensure effective risk and compliance management practices. The specialist will need to understand the business and regulatory compliance requirements for payment processors, including Money Services Businesses (MSBs), and ensure that all functions are performed within those requirements. They will maintain up-to-date knowledge of financial services compliance regulatory changes and the fintech industry landscape, participate in the development of technological enhancements, and review existing operational procedures to recommend improvements with a focus on automation and efficiency. Additionally, the specialist will act as a liaison between third parties, business lines, operations, and technical areas to ensure appropriate compliance risk oversight. They will also assist in the development, implementation, and periodic performance of key controls, maintain the Open Banking compliance library, and manage ad-hoc projects as required. This position may also involve developing Open Banking compliance-specific training to ensure all stakeholders are well-informed and compliant with the necessary regulations.
Responsibilities
Operationalize compliance regulatory requirements, including drafting procedures and process documentation.
,
Perform initial and ongoing due diligence of third parties including compliance risk assessments, marketing compliance reviews, and evaluation of compliance management programs.
,
Stay up to date on developing trends in the financial services industry.
,
Promote a 'culture of compliance' to ensure efficient and effective risk and compliance management practices by adhering to required standards and processes.
,
Understand business and regulatory compliance requirements for payment processors including MSBs and ensure functions are being performed within those requirements.
,
Ensure open banking third party programs are in compliance with laws and regulations applicable to the products and services engaged with Evolve Bank & Trust.
,
Maintain up to date knowledge on financial services compliance regulatory changes and the fintech industry landscape.
,
Participate in the development of technological enhancements.
,
Review existing operational procedures and methods and recommend changes for improvement with an emphasis on automation and efficiency.
,
Function as the liaison between third parties, business lines, operations, and the technical areas and the compliance function to ensure appropriate compliance risk oversight.
,
Understand applicable consumer protection laws and regulatory landscape and compliance requirements for new and existing Evolve Open Banking products and services.
,
Assist in the development, implementation, and periodic performance of key controls.
,
Maintain the Open Banking compliance library, including developing Open Banking (Banking as a Service) compliance specific training.
,
Manage ad-hoc projects, as required.
Requirements
Bachelor's Degree or above.
,
Minimum of 3-5 years' experience of Open Banking (Banking as a Service) Compliance and/or financial services audit, operations experience or equivalent.
,
Experience operating and contributing to a strong compliance management system/program.
,
Strong knowledge of consumer and general compliance regulations including Regulation B, Regulation E, Regulation DD, Regulation Z, and UDAAP.
,
Understanding of compliance risk methodologies and due diligence.
,
Prior Banking Compliance Quality Assurance experience, a plus.
,
Skilled with Microsoft Word, Excel, Outlook and related software applications.
,
CRCM certification is a plus.
Nice-to-haves
Experience with digital-only banking environments including mobile-only or mobile first banking.
Benefits
Remote work available.
Apply Now