Business Unit Risk & Compliance Officer

General Description

This position is responsible for the oversight/monitoring of the sales practices framework, processes and controls, taking into consideration the overall business strategy, regulatory requirements, and industry practices. The role must carry out processes designed to monitor, manage, and mitigate risks associated with the sales of financial products and services, often by reviewing sales processes to ensure compliance with regulations and internal policies. This type of program involves assessing risks, identifying gaps, and implementing solutions to prevent issues such as inadequate internal controls, fraud, or misleading sales tactics, ultimately protecting customers and the bank's reputation. 

Essential Duties and Responsibilities

•    Conduct monitoring practices aligned with the responsibilities established in the Sales Practices policy, procedures, standards and guidance and incorporate new practices based on learnings.
•    Evaluate the adequacy of the sales practices processes and controls and provide recommendations for improvements to ensure compliance with policies, procedures and applicable regulatory guidance.
•    Review sales practices procedures, and/or manuals and recommend changes for improvement. 
•    Design, develop and prepare reports and dashboards to measure business risk performance. 
•    In conjunction with other key stakeholders, determine what actions must be taken in response to the activity identified that poses risk to the bank.
•    Review incentive compensation and other recognition plans from the sales practices perspective.
•    Identify and evaluate risks related to sales practices, such as mis-selling or pressure on customers to purchase unnecessary products (sales-related issues) that helps maintain the bank’s reputation and public trust. 
•    Reviews and challenges the development and implementation of business processes, procedures, and controls to ensure adherence to risk management requirements and policies. 
•    The program tracks key risks and trends, reporting on sales practices and conduct risk assessments to identify areas for improvement. 
•    Assist in preparing reports for the Risk Committees and to Management

Education

Experience

3+ years of experience in operational risk, business controls, compliance, audit, internal controls or related areas, preferably within the banking or financial services sector.

Expertise and knowledge of banking operations and applicable regulations is preferred.

Other Qualifications

•    Must have excellent written and oral communication (in both Spanish and English) and interpersonal skills to manage the expectations of senior business stakeholders and support units.
•    Must have good time management and organizational skills. Candidates should be able to prioritize tasks to manage and comply with multiple deadlines. 
•    Must have strong analytical and critical thinking skills. 
•    Must have the ability to influence others, be process driven, and have high attention to detail.
•    Must have strong analytical and critical thinking, as well as problem-solving skills, including the ability to analyze risk mitigation approaches.
•    Must have the ability to collaborate effectively as part of a wider team.
•    Ability to work with a high degree of accuracy and attention to detail. 
•    Bilingual (Spanish/English) – verbal and written communication.

Values