Compliance Testing Officer (Flexible Location)

First Midwest, with assets over $20 billion, is the premier relationship-based banking franchise in the dynamic Chicagoland banking market. As one of the Chicago metropolitan area's largest independent bank holding companies, First Midwest provides the full range of commercial, retail banking, and wealth management services through some 120+ offices located in communities in metropolitan Chicago, Northwest Indiana, Central and Western Illinois, Eastern Iowa, and Southeast Wisconsin. 

POSITION SUMMARY:

LOCATION FLEXIBLE / CHICAGO AREA OR SUBURBS 

This position is responsible for performing testing activities for various regulatory compliance requirements applicable to First Midwest lines of business. This position will report to the Compliance Testing Manager and is part of the Compliance and Operational Risk Team of the Risk Management Department.  The person must be comfortable continuously learning and testing various regulatory compliance requirements.  This position will work closely with the Compliance Testing Manager and other Subject Matter Experts to understand and develop testing steps within the scope and timeframes required, execute and document (in electronic workpapers) testing activities, and communicate results in meetings and in written reports. On-going communication with the line of business and stakeholders is expected throughout the process.

 

REQUIRED EDUCATION, EXPERIENCE AND SKILLS:
  • Bachelor’s Degree or equivalent work experience.
  • Minimum of 3 years compliance testing or internal audit experience.
  • General understanding of regulatory compliance.
  • Strong verbal and written communication skills.
  • Detail-orientated, with solid analytical skills.
  • Proficient in Microsoft Word and Excel.
  • Position may require the need to travel to other branch or meeting locations. 
DUTIES/RESPONSIBILITIES:

The person shall be directed by the Compliance Testing Manager to complete compliance testing activities designated within the Bank’s annual Compliance Testing and Monitoring Plan or as may be required on an ad-hoc basis.  For assigned items, the person will be responsible for the following key tasks within each phase of the Compliance Testing cycle:

 

Planning:

  • Obtain an understanding of the regulatory requirement and business processes to be tested. 
  • Work with the Testing Manager and/or other Subject Matter Experts to review, adjust or develop compliance testing steps to accomplish the objective of the planned test
  • Create information request lists and develop any spreadsheets/worksheets/reports (supporting electronic workpapers) required to complete the steps

 

Execution:

  • Perform compliance testing steps, which may include transactional testing on a statistical sampling basis up to full reviews of the compliance control environment
  • Maintain on-going communication with the Compliance Testing Manager and line of business prior to, during and after testing
  • Identify and confirm potential compliance issues, the root causes and recommend any corrective actions
  • Participate in the vetting process and formal exit meetings with management, as directed

 

Reporting:

  • Document findings/exceptions, root cause and corrective action/recommendations in written report.
  • Obtain line of business management’s response to findings/exceptions identified in report.
  • Complete all checklists, job aids, spreadsheets, etc. and save in electronic workpapers.
  • Assist the Manager in updating issues tracking logs

#LI-TP1

 

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.
Please view Equal Employment Opportunity Posters provided by OFCCP here and Supplement here.

Posted
09/24/2020
Salary Range
$79,000.00 - 112,000.00
per Year
Salary range estimated by
Location
Gurnee, IL 60031, US