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Head of Audit Regulatory Compliance and AML

Company: USAA
Location: Sun City
Posted on: August 26, 2020

Job Description:

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 Responsibilities

Exemplifies USAA’s mission, core values, culture and desired behaviors – including a culture of risk awareness and accountability.

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 opportunities.

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 audit plan.

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 Enterprise.

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 stakeholders.

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 Heightened standards.

Responsible for enhancing the Risk Management Internal Audit processes in response to the OCC Consent Order Risk Governance Framework feedback to internal audit.

Governance Committees

Interacts with or participates in enterprise governance committees, such as:

Enterprise Operational Risk and Compliance Committee

Enterprise Compliance Committee

AML Program Steering Committee

Education

Bachelor's degree is required.

Advanced degree such as Accounting, Finance, Business is preferred.

Experience

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 required.

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

Regulatory Understanding*

Demonstrated understanding of the full spectrum of regulatory actions, including examinations and other supervisory engagement and processes, such as:

Dodd-Frank Act

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 Institutions);

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 guidance);

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 Handbook; Corporate

and Risk Governance Handbook; and key OCC bulletins (Model Risk Governance; Model

Risk Management; New Products and Services Risk Management; Third Party Risk

Management)

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 this job.

Certifications

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.

Keywords: USAA, Sun City , Head of Audit Regulatory Compliance and AML, Other , Sun City, Arizona

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