Compliance Program Manager

OceanFirst Bank; Red Bank (NJ); Hybrid; USD 80,000 - 100,000; Full time

Job summary

Join a leading bank as a Compliance Program Manager to oversee compliance activities aligned with regulatory standards. You will play a critical role in risk management, ensuring that compliance processes meet organizational and regulatory requirements, while also fostering a culture of partnership and collaboration. The position offers great benefits and a hybrid work schedule after onboarding.

Benefits

On-site fitness facility

Hybrid work schedule

Tuition assistance

Incentive compensation program

Professional development opportunities

Qualifications

• Experience in compliance management for financial institutions.
• Strong leadership skills with a focus on cross-departmental collaboration.
• Ability to analyze compliance risks and implement necessary changes.

Responsibilities

• Oversee the Bank's Compliance Management System and ensure regulatory compliance.
• Collaborate with management to identify compliance risks and implement controls.
• Prepare and present compliance reports to the Board of Directors.

Skills

Regulatory compliance

Risk management

Project management

Team leadership

Job description

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At OceanFirst Bank, each one of our employees plays an important role in delivering value to our customers and executing daily tasks in accordance with our core values. We recognize that our employees are essential to our success, making OceanFirst a great place to work and do business.

Great benefits include: on-site fitness facility at Red Bank and Toms River headquarter offices, hybrid schedule after initial onboarding has been completed (4 days in office, 1 day remote), employee perks & discount programs, tuition assistance, incentive compensation program, professional development opportunities, and more! Apply today to #BecomeOceanFirst and make an impact in the local community!

About Your Role

The Compliance Program Manager oversees the Bank's Compliance activities. In addition to responsibility for daily oversight and management of these functions in a manner that effectively identifies, measures, manages, and controls risk and maintains regulatory compliance, this individual proactively identifies, plans, and executes the evolution of compliance risk management practices to keep pace with the Bank's growth and/or changes in complexity of operations. This individual will advance the evolution of bank-wide enterprise risk management through strong leadership of these second line of defense functions and collaborative interaction with the first and third lines of defense.

What You Will Do

• Responsible for the Bank's Compliance Management System. Develops, implements, administers, and manages the Compliance Program including regulatory and consumer compliance.
• Ensures programs are well designed and executed to ensure regulatory compliance and expectations, including appropriate policies, procedures, reporting, training, and resource allocation.
• Collaborates with line of business management to ensure all relevant compliance risks are identified and appropriate processes and controls are in place to manage risks and mitigate losses and/or potential regulatory fines. Supports a culture of partnership and teamwork that supports safe and sound operations.
• Responsible for project management by leading and influencing cross-functional or compliance teams.
• Collaborates with first and second line of defense to ensure monitoring programs effectively promote compliance with all regulations, internal policies, and procedures.
• Provides guidance to the business to ensure documents, projects, processes or product initiatives comply with regulatory and legal requirements and enterprise policy.
• Reviews implementation planning for new laws and regulations and ensure appropriate parties have been engaged.
• Advises the Chief Compliance Officer and relevant business units of emerging risks, new or amended laws, regulations, or regulatory agency guidance and recommend and implement changes and controls to mitigate those risks. Manages the regulatory change management process.
• Synthesizes, analyzes, identifies root cause(s) of potential compliance risk, provides recommendations that influence business solutions and validates resolution.
• Establishes and maintains positive, collaborative relationships with internal business partners, external regulatory agency representatives and regulatory/compliance consultant groups. Serves as liaison to regulatory agencies, internal and external auditors, and external legal counsel for Compliance activities. Leads responses to exam and audit concerns and oversees corrective action of all related compliance deficiencies or violations.
• Prepares and presents to the Board of Directors and/or Board Committees, as well as relevant management committees, policy and program documents relating to regulatory and consumer compliance . Ensures such documents appropriately address all relevant topics and adhere to regulatory requirements and expectations.
• Prepares and presents periodic reports to the Bank's Board of Directors and/or Board Committees, as well as relevant management committees addressing emerging and current risks, key indicator performance, regulatory compliance, and monitoring results. Ensures all compliance reporting is completed by the appropriate responsible parties and distributed timely.
• Remains current on industry, risk management, regulatory and compliance trends, and changes to laws and regulations relevant to the Bank.
• Ensures compliance with all regulations governing the banking industry, as well as regulatory agency guidelines and Bank policies. Ensures compliance staff complies with bank-wide policies including but not limited to record retention, vendor management, business continuity, model risk, and data classification.
• Ensures that all compliance staff members meet compliance and disclosure requirements and are appropriately cross trained to ensure departmental resiliency.
• Provides leadership to staff related to the Bank's compliance program.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Project Management and Information Technology

• Industries

  Banking

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