Purpose of Job The Audit Regulatory Compliance and AML Executive
oversees Audit Service’s Regulatory Compliance and AML functions
which are responsible for managing all audits and conducting
independent reviews of the regulatory compliance, and BSA/AML/OFAC
management frameworks. Optimizes key departmental processes and
adherence to internal audit guidance promulgated by the Institute
of Internal Auditors’ (IIA) and regulatory agencies. Serves as a
key member of the Audit Service’s leadership team in setting the
overall direction, goals, strategic objectives and action plans of
the /Reg Compliance and AML. Job Requirements Managerial
Exemplifies USAA’s mission, core values, culture and desired
behaviors – including a culture of risk awareness and
Collaborates with internal audit management to develop and
implement internal audit policies, procedures, and best practices.
Advises senior management on risk and control issues; reports on
business self-assessment results; and provides practical
recommendations to ensure risks are appropriately managed.
Manages ongoing relationships with external auditors, business
units, and senior management. Evaluates corrective measures
taken to address unresolved matters. Follows up on the progress
being made to address unresolved control matters and prepares
summary reports to executive management to ensure appropriate
action is taken in a timely manner.
Sets the agenda, builds high-performance teams, and sells the
vision. Ensures training and coaching of employees, mentors
and develops leaders, and provides the team with development
Maintains a current knowledge of the USAA standards, mission and
strategic mission through discussions with corporate officers and
attendance at various management meetings, conferences, and Board
of Directors meetings in order to integrate current risks into the
Develops talent and builds high performing teams to deliver high
quality results and value-added services – including the
identification, development and retention of talent with requisite
audit capabilities as well as providing leadership and overseeing
performance and talent management activities.
Holds self and others accountable to meet commitments by setting
and clearly communicating expectations and roles and
responsibilities relative to internal audit.
Technical and Risk Responsibilities
Oversees audits and advisory/proactive assurance reviews and
directs the reporting of audit results related to the regulatory
compliance, legal (BSA/AML/OFAC) and Audit Services Compliance
Center of Excellence functions of USAA.
Assists the Chief Audit Executive in directing the design, scope
and administration of a comprehensive audit plan and the evaluation
of such processes. Annual audit plan includes evaluations of
related processes and controls; emerging and thematic reviews of
required reporting; and related governance activities. Aggregates
and reports audit findings and issues to the businesses and /or to
the Finance and Audit Committee (FAC).
Plays a key role in providing effective challenge to the
organization's regulatory compliance, and legal strategy in order
to meet the ever-changing environment and requirements.
Provides subject matter expertise to the lines of businesses and
other risk partners to proactively identify exposures across the
Oversees the design, development and delivery of timely,
accurate, and impactful management reporting in addition to
high-quality, impactful external reporting deliverables, including
coordination with appropriate internal and external
Serves as primary liaison/point of contact and oversees Audit
Services coordination and on-going interaction with regulatory
examiners (FRB; OCC; CFPB; FDIC; and other agencies).
Oversees the planning and execution of activities associated with
periodic regulatory examinations of Audit Services.
Responsible for developing minimum audit standards for various
risk management audit topics to be use by other audit teams.
Responsible for establishing and maintaining a process to
perform the annual independent Audit Assessment required by OCC
Responsible for enhancing the Risk Management Internal Audit
processes in response to the OCC Consent Order Risk Governance
Framework feedback to internal audit.
Interacts with or participates in enterprise governance
committees, such as:
Enterprise Operational Risk and Compliance Committee
Enterprise Compliance Committee
AML Program Steering Committee
Bachelor's degree is required.
Advanced degree such as Accounting, Finance, Business is
A minimum of 12 years of experience in technical discipline
(e.g., audit, regulatory compliance) with a proven track record
leading comparable operations and programs (e.g., complex audit
programs and regulatory heightened expectations) is required.
A minimum of 8 years of people leadership experience in
building, managing and/or developing high-performing teams is
A minimum of 8 years of relevant experience in a large financial
institution ($100 billion +), including 5+ years post-Dodd Frank,
in a senior staff role within an audit department is preferred.
Additional Knowledge Sets &/or Certifications
Demonstrated understanding of the full spectrum of regulatory
actions, including examinations and other supervisory engagement
and processes, such as:
Home Owners’ Loan Act
Fair Lending laws
Texas Insurance Code
New York Insurance Law
Securities and Exchange Commission Statutes, including the 1933
Securities Act and the 1934 Exchange Act
Federal regulations and supervisory guidance:
12 CFR Part 238 (Regulation LL)
12 CFR Part 252 (Regulation YY)
12 CFR Part 223 (Regulation W)
12 CFR Part 30, including Appendices A through E
12 CFR 9 - Bank Fiduciary Activities
12 CFR 25 -- Community Reinvestment Act
12 CFR Part 46 (Annual Stress Test)
Federal Reserve Supervisory Guidance Documents:
SR 12-17 (Consolidated Supervision Framework for Large Financial
SR 08-08 (Compliance Risk Management Programs);
SR 14-9 (Incorporation of Federal Reserve Policies into the
Savings and Loan Holding
Company Supervision Program and related applicable
Bank Holding Company Examination Manual;
Federal Reserve proposals concerning Board effectiveness and
core principles of effective senior management, management of
business lines, and independent risk management and controls
OCC Supervisory Guidance Documents: Large Bank Supervision
and Risk Governance Handbook; and key OCC bulletins (Model Risk
Risk Management; New Products and Services Risk Management;
Third Party Risk
FFIEC: BSA/AML Manual; IT/Cyber Handbooks
CFPB: Consumer Protection Regulations; UDAAP
*Regulatory understanding is for illustrative purposes. Roles
would need an understanding of all federal and state laws and
regulatory guidance applicable to the organization and
responsibilities of their specific role.
Note: The above statements are intended to describe the general
nature and level of work being performed by employees in this
position. They are not intended to be an exhaustive list of all
duties, responsibilities and qualifications of employees assigned
Industry certification such as Certified Internal Auditor (CIA),
Certified Public Accountant (CPA) certification, Certified
Compliance and Regulatory Professional (CCRP), Certified Anti-Money
Laundering Specialist (CAMS), Certified Fraud Examiner (CFE) or
Certified Regulatory Compliance Manager” (CRCM) is preferred.