Officer, Senior Associate SOX Compliance

Overview

Banc of California, Inc. (NYSE: BANC) is a bank holding company headquartered in Los Angeles with one wholly-owned banking subsidiary, Banc of California (the “bank”). Banc of California is one of the nation’s premier relationship-based business banks focused on providing banking and treasury management services to small-, middle-market, and venture-backed businesses. Banc of California offers a broad range of loan and deposit products and services through more than 70 full-service branches throughout California and in Denver, Colorado, and Durham, North Carolina, as well as full-stack payment processing solutions through its subsidiary, Deepstack Technologies. The bank is committed to its local communities by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more.

JOB SUMMARY:

Responsible for implementing the Bank’s annual, strategic SOX Compliance Program plan initiatives in adherence with the Sarbanes-Oxley (SOX) Act.  Works closely with the business stakeholders to ensure that process and control documentation is maintained, assertions performed, and that findings related to Internal Controls over Financial Reporting (ICOFR) are assessed and reported to management.  Carries out responsibilities by working with a mix of direct, indirect, and 3rd party co-sourced team members to perform all SOX-related activities in accordance with the Bank’s annual SOX Compliance Program and methodology.  Works with all levels of management, internal department personnel, and 3rd party co-source provider to identify control weaknesses, perform control testing, and communicate findings to management in an objective manner.  Assists in completing key entity level assessments such as the annual SOX Risk Assessment and annual Fraud Risk Assessment.  Collaborates with external consultants as needed. Ensures the performance of all duties in accordance with the company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the company operates.

Responsibilities

• Assists SVP, SOX Compliance Director in planning and executing the Bank’s annual SOX Compliance strategic plan in collaboration with executive management.
• Assists with key entity-level assessments such as the annual SOX Compliance Risk Assessment and annual Fraud Risk Assessment.
• Coordinates and leads process walkthroughs and performs “Test of Design” to ensure that internal controls are designed appropriately.
• Performs management’s testing of internal controls to validate the operating effectiveness of SOX controls.
• Analyzes and documents SOX findings and deficiencies, performs root cause analysis, assesses potential financial statement impact of deficiencies, and assesses remediation plans developed by process owners.
• Facilitates the remediation of control deficiencies and escalates possible critical issues to process owners.
• Advises process owners in updating their SOX documentation which includes process maps, key inventories, control descriptions, etc.
• Maintains SOX documentation in the department’s workflow solution.
• Maintains the Bank’s issues management software to track and report SOX control deficiencies.
• Supports the development and coordination of the company’s SOX activities. Communicates and provides accurate reporting to SOX Compliance management and business units.
• Collaborates with SOX process owners re: SOX Compliance requirements to increase awareness, understanding, and compliance.
• Maintains effective and professional relationships with management, external auditors, and representatives of federal and state regulatory agencies.
• Identifies areas of opportunity for process improvements and assists the business stakeholders in adequately addressing them.
• Maintains a current level of knowledge relating to professional standards and emerging industry and technical developments, including SOX 302/404, GAAP, COSO, and related auditing standards.
• Treats people with respect; keeps commitments; inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for own actions.
• Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
• Follows policies and procedures; completes tasks correctly and on time; acts with a sense of urgency, is self-directed, and supports the company’s goals and values.
• Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee