Compliance Officer - Consumer Default Management

Location:

For Those Who Work At Home - Various, Ohio 44144

JOB BRIEF

The Compliance Officer will be a member of the Consumer Default Management team within Compliance Risk Management and have significant responsibility to ensure that regulatory, compliance, or reputation risks are appropriately mitigated to remain within KeyCorp’s desired risk appetite.  The Compliance Officer is responsible for oversight of consumer default compliance-related activities including providing highly specialized guidance on current and emerging regulatory risks, reviewing and challenging strategy (initiative, products, third parties, clients), control design, exam management, execution of business processes, and any findings or corrective action plans.  This position will report to the Compliance Director and is responsible for ensuring compliance risk, controls, processes and all related activities within designated lines of business comply with regulatory requirements and Key’s Risk Management policies and program requirements. 

ESSENTIAL JOB FUNCTIONS

• For assigned lines of business and/or regulations, serve as the compliance subject matter expert.
• Partner with other members in the second line of defense and designated lines of business to identify risks, develop and execute assessments, provide guidance on control and testing design and execution, and advise on and monitor findings and associated remediation activities.
• Actively participate in assigned business initiatives (i.e., new product development, revised processes or systems, development and/or oversight of consumer facing notices and disclosures) and projects to ensure that related regulatory obligations are appropriately addressed.
• Lead a strong and effective collaborative culture, responsible for partnering with various risk disciplines, and working closely with assigned project teams, risk partners, legal and multiple lines of business. 
• Assist the line of business with regulatory compliance exams.
• Proactively engage with partners within the first line of defense to promote understanding of complex regulatory concepts and associated compliance risks.
• Assist in or lead the development and maintenance of effective compliance policies, procedures and processes.
• Accountable for oversight of line of business activities to determine compliance with applicable compliance rules, regulations and laws.
• Research, interpret and assist in applying laws, regulations and regulatory guidance to relevant business processes. 
• Assist in the identification of training opportunities and course development.
• Address regulatory actions and other regulatory communications, following up and monitoring until satisfactory resolution is obtained.
• Participate in or lead the monitoring of compliance programs and targeted testing, particularly with new regulatory requirements or system changes; assist with the development of appropriate corrective action to ensure adherence to applicable laws and regulations.
• Develop and maintain collaborative working relationships with internal staff, peers, and senior management.
• Maintain relationships with industry peers and regulatory bodies to validate KeyCorp practices and develop recommended changes as appropriate.
• Identify, respond to and/or escalate risks as appropriate.

REQUIRED QUALIFICATIONS

• Bachelor’s degree required; Master’s degree in Business, Juris Doctorate or CRCM preferred.
• 3-5 years of experience as a financial services compliance professional, bank regulator or other comparable legal experience.
• Demonstrative knowledge of RESPA, TILA, SCRA, FCRA, bankruptcy laws and other state-based consumer protection regulations. Sound decision-making skills; able to make decisions independently and quickly.
• Extensive knowledge of consumer collections, bankruptcy, recovery and loss mitigation preferred.
• In-depth practical knowledge of internal controls, risk assessments and compliance processes, and applicable techniques for implementation of regulatory, compliance and legal requirements and compliance processes.
• Solid written and oral communication skills.
• Sound understanding of compliance risks.
• Strong research skills coupled with strong analytical and resourceful problem-solving skills.
• Strong attention to detail.
• Proven track record of integrity, strong ethics and judgment.

COMPENSATION AND BENEFITS

This position is eligible to earn a base salary in the range of $90,000 to $120,000 annually depending on location and job-related factors such as level of experience. Compensation for this role also includes eligibility for short-term incentive compensation and deferred incentive compensation