Director Compliance - Head of Trust & Broker-Dealer Compliance Testing

First Citizens Bank; Raleigh (NC); Hybrid; USD 155,000 - 210,000; Full time

Job summary

First Citizens Bank is seeking a strategic leader to head the independent Compliance Testing Program for Trust, Fiduciary, Wealth Management, Investment Advisory, and Broker-Dealer lines. You will direct teams across multiple business lines, ensuring testing design and execution meet regulatory expectations.

Reporting to the Senior Director, Head of Compliance Testing, you will partner with Compliance Advisory, Legal, Risk Management, Internal Audit and business leadership to oversee risk-based

Qualifications

• Bachelor's degree and 10+ years of experience in Compliance, Legal, Audit, Banking or related fields.
• Or High School Diploma/GED with 14+ years of related experience.

Responsibilities

• Leads planning, execution, and reporting of risk-based compliance testing across Trust, Fiduciary, Wealth Management, Investment Advisory, and Broker-Dealer lines.
• Develops annual and periodic testing plans based on regulatory risk assessments, emerging risks, regulatory changes, and business activities.
• Ensures testing engagements evaluate design and operating effectiveness of controls and adherence to laws and internal policies.
• Provides credible challenge to stakeholders regarding risks, weaknesses, observations, and remediation strategies.
• Oversees validation of management corrective actions to ensure remediation of issues and regulatory concerns.
• Maintains subject matter expertise on regulations applicable to fiduciary and broker-dealer activities including SEC, FINRA, Reg BI, and privacy.

Skills

Regulatory interpretation

Change management

Education

Bachelor's Degree

High School Diploma or GED

Job description

Overview

The ideal candidate will work hybrid in our Raleigh or Charlotte office, will consider remote option for highly qualified candidate. At First Citizens Bank, we believe meaningful careers are built through meaningful relationships. For more than 125 years, we've supported our clients, communities and colleagues through a culture rooted in connection, collaboration and long‑term success. This position reports to the Senior Director, Head of Compliance Testing, and is responsible for leading the execution of the independent Compliance Testing Program for the Bank's Trust, Fiduciary, Wealth Management, Investment Advisory, and Broker-Dealer businesses. Directs a team of compliance testing professionals responsible for assessing the effectiveness of compliance controls, identifying regulatory risks, evaluating adherence to applicable laws and regulations, and validating corrective actions. Partners closely with Compliance Advisory, Legal, Risk Management, Internal Audit, and business leadership to provide independent oversight of regulatory compliance risks. Maintains a strong focus on regulatory expectations, customer outcomes, and control effectiveness while supporting the continuous enhancement of the Compliance Testing Program.

Responsibilities & Qualifications

Duties & Responsibilities: Compliance Testing Leadership - Leads the planning, execution, and reporting of risk-based compliance testing activities across Trust, Fiduciary, Investment Advisory, Wealth Management, and Broker-Dealer business lines. Directs the development and execution of annual and periodic testing plans based on regulatory risk assessments, emerging risks, regulatory changes, and business activities. Ensures testing engagements appropriately evaluate design and operating effectiveness of controls, compliance with applicable laws and regulations, and adherence to internal policies and procedures. Provides credible challenge to business and compliance stakeholders regarding identified risks, control weaknesses, testing observations, and remediation strategies. Oversees validation of management corrective actions to ensure sustainable remediation of compliance issues and regulatory concerns. Regulatory Risk Oversight - Maintains Subject Matter Expertise Regarding Regulations Applicable To Fiduciary And Broker-dealer Activities, Including But Not Limited To

• Securities Exchange Act
• FINRA Rules
• SEC Regulations
• Investment Advisers Act
• Regulation Best Interest (Reg BI)
• Fiduciary and Trust Regulations
• Privacy and Information Sharing Requirements
• Anti-Money Laundering and Financial Crimes Requirements
• Consumer Protection and Operational Compliance Regulations

Monitors regulatory developments, enforcement actions, supervisory priorities, and industry trends to ensure testing coverage remains aligned with evolving regulatory expectations. Identifies thematic and emerging compliance risks impacting Trust and Broker-Dealer businesses and ensures appropriate testing strategies are implemented. Program Governance & Reporting - Ensures compliance testing activities are conducted in accordance with enterprise testing methodologies, documentation standards, quality assurance requirements, and reporting protocols. Prepares and delivers meaningful reporting to senior management and Compliance leadership regarding testing results, emerging risks, root causes, issue trends, and remediation status. Escalates significant issues, control failures, regulatory concerns, and recurring compliance themes to Compliance Testing leadership and appropriate governance forums. Supports regulatory examinations, internal audits, and independent reviews involving Compliance Testing activities. Business Partnership - Partners with business leaders, Compliance Advisory, Legal, Enterprise Risk Management, Operations, and Internal Audit to strengthen compliance controls and improve risk management practices. Provides consultation and thought leadership regarding testing results, regulatory expectations, and industry best practices while maintaining independence of the testing function. Supports enterprise initiatives impacting Trust and Broker-Dealer activities by providing independent compliance risk perspectives and testing expertise. Promotes continuous improvement through analytics, automation, data-driven testing, and process enhancements. Managerial Functions - Leads and develops a team of Compliance Testing managers, officers, and analysts responsible for Trust and Broker-Dealer testing coverage. Establishes departmental objectives, resource strategies, performance expectations, and development plans aligned with Compliance Testing Program goals. Provides coaching, mentoring, and technical guidance to foster a high-performing, risk-focused testing organization. Ensures consistent execution of testing methodologies, quality standards, and reporting expectations across assigned testing teams. Supports succession planning and talent development initiatives within the Compliance Testing organization.

Position Specific Skills

Ability to interpret complex regulations and devise logical solutions.
Ability to influence, negotiate, and skillfully manage change in the organization.

Qualifications

Minimum Required Education and Experience: Bachelor's Degree and 10 years' experience OR High School Diploma or GED/Equivalent and 14 years' experience in Compliance, Legal, Audit, Banking or other related experience.

Preferred Area Of Experience

10+ years of experience in Compliance Testing, Compliance Risk Management, Regulatory Compliance, Internal Audit, Securities Compliance, Trust Compliance, Wealth Management Compliance, Broker-Dealer Compliance, or related risk management functions within a large financial institution. Demonstrated experience leading compliance testing or audit programs covering fiduciary, wealth management, investment advisory, and broker-dealer businesses. Experience managing regulatory examinations, evaluating compliance control frameworks, assessing regulatory risks, and overseeing issue remediation activities. Strong knowledge of securities regulations, fiduciary activities, investment advisory business models, and FINRA/SEC regulatory expectations preferred. Experience leading teams and managing complex compliance testing engagements across multiple business lines and regulatory domains.

Preferred Licenses Or Certifications

• FINRA Series 7, 24, and 65 or 66
• Certified Regulatory Compliance Manager (CRCM)
• Certified Anti-Money Laundering Specialist (CAMS)
• Certified AML and Fraud Professional (CAFP)
• Certified Information Privacy Professional (CIPP)
• Certified Internal Auditor (CIA)
• Certified Information Systems Auditor (CISA)
• Certified Fiduciary & Investment Risk Specialist (CFIR)
• juris doctor (JD)

Additional Information

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits. This job posting is expected to remain active for 14 days from the initial posting date listed above. If it is necessary to extend this deadline, the posting will remain active as appropriate. Job postings may come down early due to business need or a high volume of applicants. The base pay for this position is generally between $155,000 and $210,000. Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment.