Overview

The Sr. Advisor, Compliance performs a key risk management role by reviewing and effectively challenging business line initiatives and processes to comply with applicable consumer laws and regulations. The Senior Associate will serve as the point person to the Line of Business and will perform reviews to evaluate control design and effectiveness, delivering quality results, providing compliance advice, and executing or participating in corporate risk management processes. The Senior Associate is responsible for assisting the Manager, BCO Governance and Oversight, in developing and monitoring of controls and providing advice to the Line of Business.

Job Family: Risk

Monitors activities to minimize the company’s exposure to risk. Activities may include quantitative analysis, risk identification and remediation. Represents or supports the reputation of the company to minimize compliance and regulatory risk by resolving issues and ensuring adherence to company and legal standards. Responsible for ensuring that all of the company’s activities adhere to the necessary rules and regulations, and that the company complies with legal/regulatory statutes and jurisdictions.

Job Function: Compliance

Monitors activities to minimize the company’s exposure to risk. Activities may include quantitative analysis, risk identification and remediation. Represents or supports the representation of the company to minimize compliance and regulatory risk by resolving issues and ensuring adherence to company and legal standards. Responsible for ensuring that all of the company’s activities adhere to the necessary rules and regulations, and that the company complies with legal/regulatory statutes and jurisdictions.

Summary of Responsibilities:

The Sr. Advisor, Compliance serves as a subject matter expert to ensure documents, projects, processes or product initiatives comply with regulatory and legal requirements and enterprise policy. S/he performs risk assessments, synthesizes analyses, identifies root cause(s), and provides recommendations to management that influence business solutions.

Essential Functions:

  • Review remediation test plans for responsiveness to root issues and recommendations
  • Perform independent testing to validate effectiveness of remediation efforts  
  • Obtain data independently for use in validation testing
  • Analyze data to identify patterns and reach conclusions
  • Objectively review and question control effectiveness
  • Advise business partners regarding regulatory implications of planned remediation
  • Collaborate cross-functionally to add value as part of SC’s Business Control Office
  • Evaluate adherence to laws and regulations in auto financing and leasing
  • Review policies and procedures for adequacy; identify inconsistencies and recommend enhancements
  • Evaluate effectiveness of new or enhanced internal controls
  • Communicate results both verbally and via written memoranda
  • Present and discuss findings and recommendations
  • Provide regulatory and control guidance regarding business practices, key decisions, policies, processes and, standards
  • Support the BCO program for the development of a culture of risk and compliance through the enhancement and execution of monitoring reviews associated with higher-risk regulations and the reporting of findings
  • Provide effective challenge to the 1st LoD and guidance on organizational risks and controls as needed
  • Assess operational breakdowns for compliance risk and provide guidance on remediation/recovery plans
  • Provide guidance on controls over compliance requirements and business line monitoring of those controls
  • Perform risk-based reviews of business line control design and execution effectiveness and provide guidance on identified risks or gaps
  • Develop review procedures, including tools/templates necessary to complete reviews (i.e., review check lists, official report of review, etc.)
  • Work closely with the Lines of Business (“LoB”) to understand risk points and key challenges within the 1st LoD as well as documentation of any related issues noted during the review
  • Ensure review plans are completed in a timely and accurate manner
  • Identify requirements to provide direction for the technical design and/or support of databases, queries, reporting tools, dashboards, etc. that enable analysis and complete and accurate reporting for the GO Team
  • Stay abreast of emerging trends pertinent to SC to facilitate a more proactive approach to risk identification and mitigation
  • Responsible for staying abreast of regulatory issues, developments, changes and evaluating impact on applicable areas, collaborating with the Manager and the LoB on implementation and risk mitigation efforts
  • Works with management to determine scope and examination techniques required to assess the control reviews for the area
  • Reviews a variety of documentation, examines methods and systems, and interviews personnel to confirm actual practice
  • Compares practice with regulatory and internal requirements to identify variances.
  • Determines areas where corrective action is required
  • Prepares written reports / memoranda on review findings and recommendations
  • Performs reviews independently as needed or in conjunction with other assigned personnel, acting in a lead capacity
  • Discusses and validates findings with management
  • Prepares and presents conclusions and recommendations to management
  • Stays current on company policy and regulations impacting company business
  • Special projects as requested including regulatory and consulting work
  • Performs other duties as assigned


Other Functions:

  • Acts as a subject matter expert (SME) while providing leadership, guidance, and mentorship to other team members.
  • Other duties as assigned.

Requirements:

  • Education –
    • Bachelor’s Degree: Business, Finance, or equivalent field.
    • or equivalent work experience
    • Master’s Degree: Business, Finance, or equivalent field.
  • Experience –
  • Auto industry experience
  • Regulatory compliance testing / monitoring experience or internal audit, or RCSA experience
  • Familiarity with risk and control methodology
  • Self-motivated and able to identify improvement opportunities
  • Six (6) years in regulatory compliance, risk management or similar experience in financial service industry or regulatory agency preferred
  • One (1) to three (3) years management experience in financial services compliance preferred
  • Prior experience in corporate environment dealing with regulators, auditors and legal counsel is preferred
  • Knowledge of regulatory requirements such as Fair Lending, ECOA (Reg. B), FCRA, UDAAP, TCPA, SCRA, FDCPA, GLBA, Credit CARD Act, Reg. M, FACTA, TILA BSA / AML, and FTC Credit rules
  • Knowledge of state requirements associated with auto lending / leasing and industry best practices (i.e., UCC, Right to Cure, Right to Redeem, Retail Instalment Sales Act, Motor Vehicle Instalment Sales Act, etc.), preferred
  • Ability to act proactively to ensure risk management is current and meets business needs
  • Strong analytical, technical and problem solving skills, with strong attention to detail
  • Leadership and organizational skills
  • High ethical standards
  • Exceptional verbal and written communication skills
  • Ability to adapt to various work environments and project schedules
  • Ability to work effectively in a team environment with all levels of personnel
  • Ability to maintain confidentiality
  • Ability to foster a collaborative working relationship with multiple functional areas, operational areas, and complex business lines
  • Strong time management skills
  • Proficient with MS Office; Excel, PowerPoint and Word is essential

Preferred Skills:

  • Professional certification (CRCM, CIA, and / or CCSA)
  • Juris Doctorate (JD) preferred
  • Five (5) years of Auto lending / leasing compliance experience
  • Three (3) years of experience as a Compliance Consultant, Compliance Examiner with a Regulatory agency, Regulatory Compliance Attorney, Internal Auditor of consumer compliance, etc.
  • Experience with statistical analysis
  • Project Management Certification
  • Basic programing knowledge in Structured Query Language (SQL)
  • Familiarity with various SC systems (SHAW, credit.net, etc.)

Competencies:

  • Collaboration – Relationship Management:
    • Advanced – Leading and Guiding
      • Improves relationships between key individuals to achieve seamless cross-team work flow and positively impact results
      • Uses informal networks to gain support for ideas and projects
      •  

  • Collaboration – Teamwork:
    • Advanced – Leading and Guiding
      • Brings out the best in each team member by consistently motivating and acknowledging peer contributions
      • Understands and leverages team dynamics
      •  

  • Execution – Accountability:
    • Advanced – Leading and Guiding
      • Fully accountable for timeliness, completeness, quality of projects, processes, products and services
      • Remains calm and focused on goals while facing pressures, obstacles or short-term setbacks
      •  

  • Influence – Information Sharing:
    • Advanced – Leading and Guiding
      • Ensures people receive the information they require, and brings the team together to share information
      •  

  • Influence – Two-way communication:
    • Advanced – Leading and Guiding
      • Effectively conveys difficult or complex information in an easy to understand manner, by providing the big picture and illustrating important linkages
      • Asks open-ended questions that encourage others to give their points of view
      •  

  • Risk Business Acumen – Industry Acumen:
    • Advanced – Leading and Guiding
      • Keeps up -to-date with external market events, pressures and regulations which may impact the organization and assesses whether similar issues exist in the organization
      • Can identify functional and organizational implications associated with major trends
      • Designs solutions to address industry activities that impact the organization
      •  

  • Risk Management – Knowledge of Risk Management Policies, Regulations, Processes and Procedures:
    • Advanced – Leading and Guiding
      • Monitors adherence to policies, regulations, processes and procedures within function and actively undertakes corrective action where necessary
      • Understands end to end processes across the organization and how processes are integrated
      • Has a practical knowledge of regulations impacting area supported
      •  

  • Risk Management – Risk and Compliance Adherence:
    • Advanced – Leading and Guiding
      • Ensures that all directs and colleagues have appropriate knowledge of risk and the regulatory environment
      • Investigates and identifies the root cause and corrects items deemed non-compliant, regardless of pressures from business or management
      •  

Working Conditions:

  • Frequently: Minimal physical effort such as sitting, standing, and walking.
  • Occasional moving and lifting of equipment and furniture is required to support onsite and offsite meeting setup and teardown.
  • Physically capable of lifting up to fifty pounds, able to bend, kneel, climb ladders.

Employer’s Rights:

  • This job description does not list all the duties of the job.  You may be asked by your supervisors or managers to perform other duties.  You will be evaluated in part based upon your performance of the tasks listed in this job description.
  • The employer has the right to revise this job description at any time.  This job description is not a contract for employment, and either you or the employer may terminate employment at any time, for any reason.