Please Enable Cookies to Continue Please enable cookies in your browser to experience all the personalized features of this site, including the ability to apply for a job. Returning Candidate? Compliance Specialist III Job Location US-IL-Chicago Posted Date 1 day ago(10/9/2019 11:10 AM) ID 2019-5354 # of Openings 1
CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. CIBC offers a full range of advice, solutions and services in the United States, across Canada and around the world. In the U.S., CIBC Bank USA provides commercial banking, private and personal banking and small business banking solutions and CIBC Private Wealth Management offers investment management, wealth strategies and legacy planning.
CIBC works to help you make your ambitions a reality with a team that is committed to being always professional, genuinely caring and collaborates to find simple solutions as we build our relationship-focused bank for the modern world.
Every year, CIBC is recognized for its business success, community commitment and employee initiatives. We are proud of this success and are committed to creating an inclusive workplace and an environment where all of our team members can excel.
The Wealth Management Compliance Testing Officer is responsible for executing the US Compliance Testing Plan of asset management, fiduciary and registered investment advisor compliance with state and federal laws and regulations. The position supports overall compliance through execution of testing programs designed to evaluate the effectiveness of business practices in meeting regulatory compliance. This position primarily supports the Private Wealth Management line of business, which offers investment management and administration, trustee services, wealth strategies and private banking through an FDIC chartered bank, a national trust bank and registered investment advisor plans, but may also support other areas of the company.
Key responsibilities include:
- Develop, perform and document risk-based testing to evaluate the company’s adherence to policies, procedures, state and federal laws and regulations
- Execute assigned compliance testing reviews in a timely manner in accordance with the annual Compliance Testing Program
- Evaluate processes for key compliance controls and develop strategies to ensure appropriate and effective testing of controls
- Identify control weaknesses and root causes of compliance deficiencies, conduct extensive research to support regulatory findings/control weaknesses and propose appropriate corrective action
- Assess the adequacy of remediation activities, monitor through completion and escalate past-due items
- Collaborate with compliance partners and line of business management throughout the compliance testing process to ensure timely and transparent communication
- Prepare high quality work papers and final testing reports, which are presented to management, management committees and the Board of Directors.
- Assist with preparation of periodic and ad-hoc reports for management, committee and Board of Directors
- Assist with the development of the risk-based annual compliance testing plan
- Assist with other compliance-related projects and tasks, as requested
- Bachelor's degree
- Proficient in Microsoft Office software applications
- Strong knowledge of trust, general fiduciary and investment advisory laws and regulations
- Comprehensive knowledge of federally recognized examination procedures to evaluate compliance with related laws and regulations
- Excellent verbal and writing skills
- Strong interpersonal skills and ability to work effectively in a team environment
- Ability to manage multiple projects and deadlines simultaneously
- Ability to interact with line of business representatives to ensure that results are understood and recommendations are implemented
- High degree of integrity and strong work ethic
- 5-7 years of trust, general fiduciary and investment advisory compliance and risk management experience
- Experience in audit or as a commissioned examiner, specializing in trust and/or investment adviser examination a plus
- Professional certification (CRCM, CTFA, CFIRS, IACCP or equivalent a plus)
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