Compliance Product Senior Officer - Price Management
Posted on: March 16, 2019
Primary Location: United States,Texas,IrvingEducation: Bachelor's DegreeJob Function: Compliance and ControlSchedule: Full-timeShift: Day JobEmployee Status: RegularTravel Time: Yes, 10 % of the TimeJob ID: 18071958DescriptionAbout Employer:Employer, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Employer provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.Employer's Mission and Value Propositionexplains what we do and Employer Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients' and the public's trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.Diversity is a key business imperative and a source of strength at Employer. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Employer has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.Description:Serve as a senior compliance risk manager for Independent Compliance Risk Management (ICRM) responsible for compliance oversight of the US Branded Cards and US Employer Retail Services Cards Price Management teams. Responsibilities include establishing internal strategies, policies, procedures, processes, and programs to prevent violations of law, rule, or regulation and design and deliver a risk management framework that maintains risk levels within the firm's risk appetite and protect the franchise; engaging with the ICRM product and function coverage teams, in order to partner to develop and apply CRM program solutions that meet the function/business/product and customer needs in a manner consistent with the Employer program framework; monitoring compliance risk behaviors; providing day-to-day Compliance advice relating to operations, financial requirements, and guidance on the supported credit card pricing and the associated regulatory rules/laws and interpretation on internal policies and procedures regarding Price Management.A critical activity will be to drive consistency in processes and controls across two US Cards businesses utilizing three operating platforms and partnering with cross-functional stakeholders to influence without direct authority to drive operational and executional simplicity across the Price Management activities.Key Responsibilities:Designing, developing, delivering and maintaining best-in-class Compliance, programs, policies and practices for ICRMTranslating ICRM strategy and goals across Employer's clients, products and geographies in a succinct and clear manner; provide direction and guidance on the programs.Serving as a subject matter expert on Employer's Compliance programs.Managing compliance risk by providing expert guidance on a real time basis on regulations relating to pricing of US consumer open-end unsecured credit card products and 1st line price management activities including;penalty pricing (due to late or returned payments), advance notifications and treatment of protected balancesreducing the penalty APR back to the non-penalty rate over time;providing Card Account Agreements to the CFPB each calendar quarterassessing late fees or bounced-check fees within the limitations established by the BCFP;increasing or decreasing the APR with corresponding increases in the US prime rate or LIBORcalculating the minimum amount due each billing cycle for each card accountcalculating the required paydown amounts for disclosure on each billing statement each month;allocating payments received in excess of the minimum amount due to balances with different APRssending changes-in-terms and implementing opt-out rights of Card account holders;accurate and timely fulfilment of requests for account-specific agreementsexecuting periodic interest rate revaluations every 6 months (APR Lookback).Staying abreast of relevant changes to rules/regulations and other industry news including regulatory findings relating to US consumer open-end unsecured credit card pricing.Overseeing the monitoring and identification of regulatory developments, including enforcement actions, and new laws, regulations, rules, and interpretations or guidance relating to US consumer open-end unsecured credit card pricing.Analysing and scoping the impact of new and complex regulatory developments across senior management for US Branded Cards and US Employer Retail Services Cards, including cross-border impact. Advising ICRM and US Branded Cards and US Employer Retail Services Cards management and personnel on regulatory and compliance issues and provide credible challenge.Participating in industry groups and trade association working groups or other forums relating to US consumer open-end unsecured credit card pricing lending.Leading initiatives and managing high-impact special project work streams with a results-driven focus to deliver solutions, including coordinating the implementation of new regulatory requirements.Managing strategy and responses to regulatory examinations, reviews and inquiries and internal and external investigations, as well as testing and audit relating to US consumer open-end unsecured credit card pricing.Designing and leading compliance and control reviews relating to US consumer open-end unsecured credit card pricing --Partnering with other ICRM teams and global functions, including Legal, Risk, Operations and Technology, and Finance to prevent and detect non-compliance issues and promote a culture of compliance.QualificationsExpertise of Compliance laws, rules, regulations, risks and typologies; Excellent written, verbal and analytical skillsMust be a self-starter, flexible, innovative and adaptive;Highly motivated, strong attention to detail, team oriented, organizedStrong presentation skills with the ability to articulate complex problems and solutions through concise and clear messaging Ability to work collaboratively with regional and global partners in other functional units; ability to navigate a complex organization; to influence and lead people across cultures at a senior levelExperience in managing regulatory exams and relationships with examiners, auditors, etc. Awareness of regulatory requirements including local and US laws, international and industry standard Advanced knowledge in area of focusBachelor's degree; experience in compliance, legal or other control-related function in the financial services firm, regulatory organization, or legal/consulting firm, or a combination thereof; experience in area of focus; strong working knowledge of US consumer open-end unsecured lending and the related operations and financial requirements; previous experience managing a diverse staffAdvanced degree (e.g. JD, MBA) is preferred
Keywords: Citi, Irving , Compliance Product Senior Officer - Price Management, Accounting, Auditing , Irving, Texas
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