Responsibilities
Citizens Financial Group (CFG)
Citizens' history began in 1871 on Hoyle Square in Providence, RI, then the city's busy market center. In 1985, Citizens Financial Group was established as the holding company for Citizens Savings Bank and Citizens Trust Company, which evolved into Citizens Bank. In December 1988, Citizens Financial Group became a wholly owned subsidiary of The Royal Bank of Scotland Group plc. RBS Group's ownership gave Citizens the stability and support of an international financial services company - and a partner with capital for growth.
Citizens Financial Group's 26 strategic bank acquisitions since 1988 greatly expanded its reach and its customer base throughout New England, into the Mid-Atlantic and into the Midwest. The largest market-changing transactions included:
- Mellon Financial Corporation's retail, small business and middle market units in Pennsylvania and Delaware in 2001.
- Charter One Financial acquisition added Ohio, Illinois, Michigan, New York and Vermont to CFG's retail footprint in 2004.
- In March 2007, RBS formed RBS Americas.
Today, Citizens Financial Group, Inc. is a $132 billion commercial bank holding company and its subsidiaries have more than 1,500 branches, more than 3,800 ATMs and 21,140 employees. It operates its branch network in 12 states and has non-branch retail and commercial offices in more than 30 states.
The Compliance division of RBS CFG is committed to delivering advice, assistance, assurance and oversight across RBS Citizens. Our Values are based on Teamwork, Transparency and Accountability. We will be successful by establishing clear standards of excellence for our colleagues, attaining and using appropriate knowledge and tools, and ensuring timely feedback from credible sources.
Summary of Position
A Compliance Officer II - Privacy is the independent compliance partner who is responsible for working RBSCFG Business Divisions/Units to ensure that the Privacy Program (Program) appropriately addresses the regulatory risks relative to the Division/Units' business activities. As a Compliance team member, working within the RBS-CFG Compliance function, the Compliance Officer II - Privacy will be co-located with the relevant business and actively engaged to provide compliance and privacy advice, monitoring and oversight of an effective Program.
The Compliance Officer II - Privacy will collaborate with the Head of Privacy and Chief Privacy Officer to foster an open and honest risk management and compliance culture across the Business Divisions/Units and ensure timely reporting and escalation of regulatory risk issues to the Head of Privacy and Chief Privacy Officer.
Primary duties include:
Collaboration with Others
- Utilizes knowledge of applicable banking laws, regulations, and guidance to partner with and direct Business management, Business Unit Risk Management, Legal and RBS-CFG Compliance colleagues in the timely identification, mitigation, resolution and reporting/escalation of existing, emerging and upstream regulatory risks and issues.
- Serves as an independent advisor to Business Unit colleagues and risk management. Participates in Business management, risk, new product, and project meetings and provides regulatory risk advice as well as ongoing information about new and changing regulatory developments.
- Responsible for reviewing the regulatory risks associated with new Business initiatives, new products & services and process changes, identifying conditions required to comply with applicable laws and regulations, and signing off on the approval process.
- Leverages compliance expertise and experience in the financial services' industry to provide compliance guidance to the Business Units, review policies, procedures, and processes to identify regulatory risks, and assess the applicability of new and changing laws, regulations, and guidance.
- Leads compliance-related meetings, projects and initiatives with Business Unit colleagues and risk management and accountable for ensuring decisions are compliant with regulatory requirements.
- Accountable for providing sound compliance advice and directing the Business Units on the resolution of compliance-related issues.
- Proactively reaches out to Business management, Business Unit Risk Management, Legal, and the larger Risk community to offer support and assistance in compliance-related matters to ensure an open, adequate and effective risk management culture.
- Establishes and cultivates a strong working relationship with the respective Business Unit Risk Management teams to advance the culture and effectiveness of a synchronized approach to risk management in respect of current, new or emerging applicable banking law and regulation as well as internal corporate compliance policy and procedures.
Escalation and Oversight
- Using internal protocols, identifies compliance issues, analyzes the risk based on knowledge the business and the current regulatory environment, and escalates to the Head of Privacy and Chief Privacy Officer based on severity of the risk(s).
- Accountable for determining the relevant corporate and/or business unit compliance information to be included in RBS-CFG Compliance reports.
- Leveraging intimate knowledge of banking laws, regulations, and guidance, examine the Business Unit's policies, procedures, standards, controls, and tests, and provide sign-off based on compliance requirements and best practices.
- Works with Business Units and risk management teams to develop action plans and responses to self-identified compliance issues as well as issues identified through regulatory exams, Assurance reviews, Audit reports, etc.
- Responsible for tracking the status of Business Unit action plans, directing the completion of required actions to ensure compliance, and escalating non-remediated issues.
- Consult with the Business Management and Compliance Officer colleague(s) regarding the design and implementation of key strategic initiatives and business changes to provide tactical regulatory/compliance advice and recommendations.
Research and Analysis
- Works with Central Compliance team to understand upstream risks as well as new and changing regulatory information, assess the impact to the Bank based on knowledge of products, services, and processes, communicate requirements to the Business Units, and help drive prioritization of the changes.
- Drives completion of regulatory changes within the Business Units, accountable to division leaders and Compliance for complying with compliance dates, and escalates to the Head of Privacy and Chief Privacy Officer when compliance deadlines are at risk.
- Research and analyze compliance trends and industry benchmarking to prepare for and monitor upstream risks and issues.
Colleague Engagement and Development
- Mentor and train the Compliance Officer I and Compliance Analyst team members to ensure that they are properly engaged and positioned to enable the supported business to remain current with laws and regulations in tandem with RBS-CFG's strategic goals as well as industry best practices.
- Support the development and advancement of Compliance Officer I and Compliance Analyst team members and participate in recruiting, interviewing, and selecting Compliance colleagues.
Qualifications
Key Qualifications:
- Bachelor degree in relevant field required; Master degree preferred
- Certified Information Privacy Professional and/or Certified Information Systems Auditors designation preferred
- 6-10 years Compliance, Risk or Audit experience with proven ability to proactively collaborate with colleagues and management
- Strong communication, collaboration, and technical compliance skills. Should be able to work effectively with others at all levels across the organization and provide authoritative guidance to management and staff within the organization.
- Experience working within a large, complex financial service organization.
- Strong working knowledge of the compliance risks associated with a banking institution as well as experience working in and/or building effective compliance programs.
- Experience reading and interpreting regulations, laws, and statutes. Strong research skills preferred.
- Problem solving skills as well as flexibility and adaptability are of key importance.
- Prior experience working with regulatory agencies, including OCC, FDIC or State agencies, or large financial institution preferred.
Equal Employment Opportunity
It is the policy of RBS Citizens, N.A. to provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to race, color, ethnicity, religion, gender, pregnancy/childbirth, age, national origin, sexual orientation, gender identity or expression, disability or perceived disability, genetic information, citizenship, veteran or military status, marital or domestic partner status, or any other factor protected by federal, state and/or local laws.
Hours and Work Schedule
Hours per Week: 40
Work Schedule: Monday-Friday 8:00AM-5:00PM
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