CIT Group Inc. Sr Front Line Risk Industry Compliance Consultant - Treasury Payments in New York, New York
CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT's consumer banking segment includes a national direct bank and regional branch network. Discover more at cit.com/about.
The Sr Front Line Risk Industry Compliance Consultant -Teasury Payments oversees and may conduct complex compliance reviews, regular monitoring and annual audits on compliance processes based on the requirements of payment products service providers and associations, such as NACHA, MasterCard, VISA and others.
Follows up on inconsistencies or issues, provides recommendations for resolution and improvement, and ensures timely adherence.
Develops and maintains a comprehensive compliance program to include documented policies, processes, systems and procedures. Researches, analyzes and interprets all applicable payment (card associations, NACHA), state, and banking regulations and statutes.
Provides guidance or recommendations to support the bank's payments products and services.
Coordinates with 2nd Line of Defense Regulatory Compliance group on the review, analysis, research, and interpretation of current, proposed, and newly adopted laws and regulations to determine impact to the business and provide recommendations on adherence.
Proactively works with business and vendors to ensure both parties are fulfilling regulatory obligations.
This job may have supervisory responsibilities and direct the work of others to include leading projects or ad hoc teams.
Demonstrates leadership behaviors commensurate with the Company's Leadership Standards.
Guides the coordination and distribution of industry and Regulatory compliance-related documents and/or activities to appropriate area.
Monitors responses to ensure areas take appropriate actions within the effective date/timeframe.
Identifies potential implementation and/or interpretation inconsistencies and notifies appropriate management.
Advises management regarding resolutions on industry and Regulatory compliance-related issues and process inconsistencies, and ensures timely implementation.
Ensures the coordination and completion of internal Quality Assurance reviews, audits and regulatory examinations on business and operational processes.
Follows up on inconsistencies or issues, provides recommendations for resolution, and ensures timely adherence.
Keeps abreast of current card associations (Visa, MasterCard, Discover, and American Express), NACHA, State and Federal regulations, statues and requirements with respect to Payments and HOA market.
Maintains knowledge of Bank products offered by the Bank as well as knowledge of the industry or market areas served.
Remains abreast of general legislative and regulatory trends and pertinent federal legislation affecting the bank.
Reviews and provides responses regarding the impact of proposed legislation on the bank's products and services.
Participates in other 1rst Line of Defense Risk activities for Treasury Payment Solutions and CAB, such as risk assessments, control testing, event and issue reporting, etc.
May develop and execute administrative policies and procedures. Provides for technical assistance and training as necessary.
Develops and maintains an engaged and accountable workforce.
Develops and maintains a fair and equitable working environment.
Complies with all related Federal, State, and Industry laws and regulations pertaining to Banking.
- Considerable knowledge of Visa, MasterCard, Amex, and Discover laws, and federal and state government laws/regulations impacting the Payments industry including regulatory statues and required reporting
Ability to identify and interpret compliance-related issues and related activities
Ability to facilitate implementation of enhancements to systems and procedures in order to ensure compliance Ability to effectively present information and respond to questions from groups of managers and employees
Ability to maintain effective performance under conditions such as pressure of tight deadlines, rigorous questioning of their work, and opposition and criticism from parties disagreeing with proposals
Extensive knowledge of policies, practices, and procedures
Ability to work efficiently in pressure situations and demonstrate a high level of flexibility in a rapidly changing environment
Ability to work independently and handle multiple and diverse complex assignments/projects simultaneously
Advanced planning, organization, and decision-making skills Advanced interpersonal, oral, and written communication skills Strong knowledge of personal computers and software applications Seasoned analytical ability and sound judgment
Strong keyboarding and data entry skills Excellent negotiation skills
External Company URL: https://www.cit.com/
Street: 11 West 42nd Street