Risk and Compliance Monitoring Officer
About the position
We are seeking a dedicated Risk and Compliance Monitoring Officer to join our Compliance team. This role is responsible for performing continuous compliance monitoring and testing, to ensure the organization’s business units adhere to all applicable consumer banking laws and regulations. The Risk and Compliance Monitoring Officer provides independent, risk-based oversight as part of the Second Line of Defense, identifying, evaluating, and reporting on compliance risks to support a strong compliance and risk management culture.
This is a hybrid position with periodic on-site work in our office in Westerly, RI.
Responsibilities
• Proactively review business processes and transactions to ensure compliance with federal and state consumer protection laws (e.g., Truth in Lending Act, Fair Credit Reporting Act, RESPA, TRID, Truth in Savings Act, Funds Availability, Regulation E, etc.). Schedule and execute regular compliance reviews, focusing on areas with heightened regulatory risk or recent regulatory changes, and maintain detailed records of monitoring activities and outcomes for audit and regulatory review.
• Identify and prioritize compliance risks across business units using quantitative and qualitative risk assessment methodologies. Collaborate with business leaders to understand operational processes and potential risk exposures and assess the design and operational effectiveness of existing controls, recommending enhancements where gaps are identified.
• Define the scope and objectives for each monitoring review based on regulatory requirements and organizational risk appetite. Develop sampling strategies to ensure representative and statistically valid testing of transactions and controls and create detailed test scripts and checklists tailored to specific regulations and business functions.
• Leverage Microsoft Excel, PowerPoint, Copilot, and other analytical tools to transform complex data into clear, impactful visualizations. Highlight trends, anomalies, and emerging risks through charts, dashboards, and statistical analysis. Deliver concise, actionable insights and recommendations that drive informed decision-making and measurable business outcomes.
• Draft comprehensive reports summarizing monitoring results, identified issues, and recommended corrective actions. Present findings to senior management and relevant committees, ensuring transparency and accountability, and monitor the status of remediation efforts, following up to confirm timely and effective resolution of identified issues.
• Assist in the review and root cause analysis of customer complaints within the Complaint Management System by compiling and analyzing relevant data. Identify trends and underlying issues, and provide clear, actionable insights to support compliance monitoring and continuous improvement initiatives.
• Conduct periodic reviews of internal policies and procedures to verify consistency with evolving regulatory requirements. Recommend updates or enhancements to compliance programs based on monitoring results and regulatory developments and collaborate with policy owners to implement changes and communicate updates across the organization.
• Build strong working relationships with business unit leaders, risk management, and internal audit teams. Serve as a subject matter expert and trusted advisor on compliance matters and facilitate cross-functional discussions to address compliance challenges and share best practices.
• Continuously evaluate monitoring processes for effectiveness and efficiency. Identify opportunities to automate or streamline testing procedures using technology and data analytics, implement process improvements, and measure their impact on compliance outcomes.
• Support the Vice President, Consumer Compliance on strategic initiatives, regulatory examinations, or remediation projects. Lead or contribute to cross-departmental projects aimed at strengthening the organization’s compliance posture and adapt to changing priorities and project requirements as needed.
• Attend relevant training sessions, webinars, and industry conferences. Maintain awareness of new regulations, enforcement actions, and best practices in consumer compliance, and seek professional certifications and continuing education to enhance expertise and value to the organization.
• Coordinate compliance monitoring reviews in partnership with third-party compliance vendors to ensure timely completion of program deliverables and adherence to the monitoring schedule.
• Support Compliance department with responsibilities during regulatory exams, external audits and third party reviews, including but not limited to gathering requests from business lines, uploading relevant documents, and facilitating necessary meetings.
Requirements
• Bachelor’s degree or equivalent combination of education and experience.
• 5+ years of experience in compliance, risk management, or audit, within a regulated financial institution with preferred expertise in risk-based monitoring and controls.
• Professional certification in audit, risk management or compliance (e.g., CRCM, CERP, CRMA, CIA), or actively pursing
• Strong knowledge of financial services regulations (FDIC, CFPB, State Law, etc.).
• Excellent verbal and written communication skills; ability to engage with all levels of management.
• Proficiency in data analysis tools (Microsoft Word, Excel, PowerPoint, Copilot, or similar).
• High ethical standards, critical thinking, and problem-solving skills.
• Self-motivated, adaptable, and able to manage multiple priorities in a fast-paced environment.
Benefits
• Our employees enjoy a comprehensive benefits package, which includes health and welfare benefits, paid time-off, work-life program, and a 401(k) plan.
• We believe employees who are valued, recognized, rewarded and empowered, will achieve personal and professional growth.
Apply tot his job
Apply To this Job
We are seeking a dedicated Risk and Compliance Monitoring Officer to join our Compliance team. This role is responsible for performing continuous compliance monitoring and testing, to ensure the organization’s business units adhere to all applicable consumer banking laws and regulations. The Risk and Compliance Monitoring Officer provides independent, risk-based oversight as part of the Second Line of Defense, identifying, evaluating, and reporting on compliance risks to support a strong compliance and risk management culture.
This is a hybrid position with periodic on-site work in our office in Westerly, RI.
Responsibilities
• Proactively review business processes and transactions to ensure compliance with federal and state consumer protection laws (e.g., Truth in Lending Act, Fair Credit Reporting Act, RESPA, TRID, Truth in Savings Act, Funds Availability, Regulation E, etc.). Schedule and execute regular compliance reviews, focusing on areas with heightened regulatory risk or recent regulatory changes, and maintain detailed records of monitoring activities and outcomes for audit and regulatory review.
• Identify and prioritize compliance risks across business units using quantitative and qualitative risk assessment methodologies. Collaborate with business leaders to understand operational processes and potential risk exposures and assess the design and operational effectiveness of existing controls, recommending enhancements where gaps are identified.
• Define the scope and objectives for each monitoring review based on regulatory requirements and organizational risk appetite. Develop sampling strategies to ensure representative and statistically valid testing of transactions and controls and create detailed test scripts and checklists tailored to specific regulations and business functions.
• Leverage Microsoft Excel, PowerPoint, Copilot, and other analytical tools to transform complex data into clear, impactful visualizations. Highlight trends, anomalies, and emerging risks through charts, dashboards, and statistical analysis. Deliver concise, actionable insights and recommendations that drive informed decision-making and measurable business outcomes.
• Draft comprehensive reports summarizing monitoring results, identified issues, and recommended corrective actions. Present findings to senior management and relevant committees, ensuring transparency and accountability, and monitor the status of remediation efforts, following up to confirm timely and effective resolution of identified issues.
• Assist in the review and root cause analysis of customer complaints within the Complaint Management System by compiling and analyzing relevant data. Identify trends and underlying issues, and provide clear, actionable insights to support compliance monitoring and continuous improvement initiatives.
• Conduct periodic reviews of internal policies and procedures to verify consistency with evolving regulatory requirements. Recommend updates or enhancements to compliance programs based on monitoring results and regulatory developments and collaborate with policy owners to implement changes and communicate updates across the organization.
• Build strong working relationships with business unit leaders, risk management, and internal audit teams. Serve as a subject matter expert and trusted advisor on compliance matters and facilitate cross-functional discussions to address compliance challenges and share best practices.
• Continuously evaluate monitoring processes for effectiveness and efficiency. Identify opportunities to automate or streamline testing procedures using technology and data analytics, implement process improvements, and measure their impact on compliance outcomes.
• Support the Vice President, Consumer Compliance on strategic initiatives, regulatory examinations, or remediation projects. Lead or contribute to cross-departmental projects aimed at strengthening the organization’s compliance posture and adapt to changing priorities and project requirements as needed.
• Attend relevant training sessions, webinars, and industry conferences. Maintain awareness of new regulations, enforcement actions, and best practices in consumer compliance, and seek professional certifications and continuing education to enhance expertise and value to the organization.
• Coordinate compliance monitoring reviews in partnership with third-party compliance vendors to ensure timely completion of program deliverables and adherence to the monitoring schedule.
• Support Compliance department with responsibilities during regulatory exams, external audits and third party reviews, including but not limited to gathering requests from business lines, uploading relevant documents, and facilitating necessary meetings.
Requirements
• Bachelor’s degree or equivalent combination of education and experience.
• 5+ years of experience in compliance, risk management, or audit, within a regulated financial institution with preferred expertise in risk-based monitoring and controls.
• Professional certification in audit, risk management or compliance (e.g., CRCM, CERP, CRMA, CIA), or actively pursing
• Strong knowledge of financial services regulations (FDIC, CFPB, State Law, etc.).
• Excellent verbal and written communication skills; ability to engage with all levels of management.
• Proficiency in data analysis tools (Microsoft Word, Excel, PowerPoint, Copilot, or similar).
• High ethical standards, critical thinking, and problem-solving skills.
• Self-motivated, adaptable, and able to manage multiple priorities in a fast-paced environment.
Benefits
• Our employees enjoy a comprehensive benefits package, which includes health and welfare benefits, paid time-off, work-life program, and a 401(k) plan.
• We believe employees who are valued, recognized, rewarded and empowered, will achieve personal and professional growth.
Apply tot his job
Apply To this Job