Compliance Senior Associate

About Us:

Piermont Bank is a tech-enabled digital commercial bank founded in 2019 with a mission of changing the face and pace of banking. It provides an unprecedented experience that blends the best of banking and agile Fintechs. At Piermont, we are purpose-driven, and focused on creating and delivering banking products relevant to today’s digital economy. We are the go-to Bank for the fintech ecosystem. For more information, visit www.piermontbank.com.

The Role:

As a Compliance Senior Associate at Piermont Bank, you will be part of the Compliance Team led by the Head of Operational Risk and Compliance while directly reporting to the Compliance Officer. The Compliance Department’s function is to assess, identify and mitigate risks posed to the Bank. In this role you will collaborate with the team to ensure the Bank’s compliance with all laws, rules, and regulations. This effort includes, but is not limited to, conducting risk reviews of our customers and Fintech partners as well as conducting compliance quality assurance via validation testing according to our annual compliance monitoring plan. This plan requires Compliance to test certain business functions are being followed as set forth in their policies and procedures, as well as to identify any potential gaps to be addressed. 

Responsibilities:

• Assist the Head of Operation Risk and Compliance and Compliance Officer in ensuring the Bank’s annual Compliance Monitoring and Risk Assessment Plan/Schedule is on track by working across business functions.
• Assisting the Compliance Officer in ensuring that the Bank maintains a robust Compliance Management System.
• Conduct annual and periodic compliance monitoring risk reviews for the Bank’s retail and business customers as well as the Bank’s deposit and lending functions.
• Conduct annual and periodic compliance monitoring risk reviews for the Bank’s Fintech partnerships, as a part of the Bank’s Banking as a service (BaaS) program.
• Conduct Validation Testing of all Bank’s Self-Identified issues, operational changes, and updates as well as remediation items resulting from internal and external audits acting as the Bank’s second line of defense.
• Drafting and/or editing the Bank’s Policies and Procedures annually and on an ad hoc basis as updates are required.
• Assist in processing all legal requests and consumer complaints the Bank receives.

Qualifications:

• Bachelor’s degree required with 3-7 years of proven and progressive experience in a compliance role with a financial institution.
• Extensive knowledge of consumer protection laws and regulations (Regulation E, Regulation DD (TISA))
• Possess strong analytical skills.
• Experience with compliance quality assurance testing.
• Experience drafting/editing compliance policies and procedures.
• An understanding of when issues require escalation.
• Initiative-taking, motivated, with a strong attention to detail
• Proven history in building good working relationships across business functions.
• Ability to work independently as well as in a team environment.
• Working knowledge of the Microsoft Office Suite of products.
• Strong verbal and written communication skills.

The hiring range for this position is $110,000 to $140,000 per year. The base pay actually offered will take into account internal equity and also may vary depending on the candidate’s job-related knowledge, skills, and experience, among other factors. A bonus and/or incentives may be provided as part of the compensation package, in addition to the full range of medical, dental, vision, 401k, and other benefits.

Piermont Bank is an equal-opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We do not discriminate based upon race, religion, color, national origin, political affiliation, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, height, weight, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.