Compliance Specialist

Banc of California, Inc. (NYSE: BANC) is a bank holding company headquartered in Los Angeles with one wholly-owned banking subsidiary, Banc of California (the “bank”). Banc of California is one of the nation’s premier relationship-based business banks focused on providing banking and treasury management services to small-, middle-market, and venture-backed businesses. Banc of California offers a broad range of loan and deposit products and services through more than 70 full-service branches throughout California and in Denver, Colorado, and Durham, North Carolina, as well as full-stack payment processing solutions through its subsidiary, Deepstack Technologies. The bank is committed to its local communities by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more.

Job Summary

Responsible for assisting the Compliance Department’s Compliance Officers with the completion of risk assessments, monitoring & testing activity, training development and administration, third party reviews, and advisory support.   Monitoring includes compliance risks associated with Bank’s products and services, including risk identification, assessment and management of the control environment, and ongoing monitoring of key risk and performance indicators.  Performs all duties in accordance with the Bank’s policies and procedures, and applicable U.S. State and Federal laws and regulations wherein the company operates.

The Compliance Specialist follows the Bank’s Compliance Risk Management Policy Program to ensure conformity and adherence with all applicable state and federal laws, regulations, and policies and procedures.  Additionally, this individual possesses basic knowledge of the monitoring process according to internal procedures and schedules, as well as examining key activities, and quality control oversight of business units in adherence to compliance standards.

• Responsible for working closely with Compliance Officers in the maintenance of the Compliance monitoring program.  This includes the following:
  • Perform ongoing monitoring of key risk and performance indicators for early identification of control gaps and heightened risk areas;
  • Support efforts to identify risks and address control gaps in heightened risk areas;
  • Monitor outstanding controls gaps and inform Compliance Officers of any risks or delays in the timely remediation of open issues;
  • Follow the Monitoring Program and Methodology process and assist with as directed for distribution outside of the Compliance Department. 
• Responsible for supporting the compliance risk assessment process in accordance with the established risk assessment methodology and in collaboration with the assigned business lines.  This includes the following:
  • Identify material risks associated with the business units activities, products, and services;
  • Assess material risks and threats on an ongoing basis by performing periodic compliance risk assessments;
  • Assist with risk assessment reports that quantifies risk exposure to business line management and the second line and management level committee(s).
• Responsible for supporting Compliance Officers in identifying training needs and requirements for the assigned business lines.  Managing the online training database and tracking training to ensure completion by all employees, and assessing additional targeted training needs through monitoring, risk assessments, and issues management.  Responsible for supporting Compliance Officers in working with business units to develop and deliver additional role specific training from a risk based approach.
• Responsible for supporting Compliance Officers in the review and assessment of new/changed product and services, and marketing/advertising materials to ensure compliance with applicable laws/regulations.
• Responsible for supporting Compliance Officers in the development, review, and updates of policies, standards, procedures and other governance documents of applicable business units and risk subject matter areas.
• Responsible for supporting Compliance Officers in monitoring new legal and regulatory requirements applicable to the assigned lines of business.  This includes:
  • Supporting new legal or regulatory guidance implementation, where applicable; and
  • Maintaining ongoing compliance with legal requirements.
• Stays abreast of regulatory and risk environment for the identification of emerging risks.
• Treat people with respect; keeps commitments; inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for own actions.
• Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
• Follows policies and procedures; completes tasks correctly and on time; supports the company’s goals and values.
• Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.
• Performs other duties and projects as assigned.

Banc of California is an equal opportunity employer committed to creating a diverse workforce. All qualified applicants will receive consideration for employment without regard to age (40 and over), ancestry, color, religious creed (including religious dress and grooming practices), denial of Family and Medical Care Leave, disability (mental and physical) including HIV and AIDS, marital status, medical condition (cancer and genetic characteristics), genetic information, military and veteran status, national origin (including language use restrictions), race, sex (which includes pregnancy, childbirth, breastfeeding and medical conditions related to pregnancy, childbirth or breastfeeding), gender, gender identity, gender expression, and sexual orientation. If you require reasonable accommodation as part of the application process please contact Talent Acquisition Partner.

• Demonstrates awareness of and adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to the Bank’s Compliance Risk Management Policy Program Regulatory Accountabilities and this position including but not limited to the following: Regulation DD (Truth in Savings Act), Regulation CC (Expedited Funds Availability Act), Regulation E (Electronic Funds Transfer Act), Regulation Z (Truth in Lending Act), Regulation B (Equal Credit Opportunity Act), Fair Housing Act (FHA), Home Mortgage Disclosure Act (HMDA), Real Estate Settlement Procedures Act (RESPA), Fair Credit Reporting Act (FCRA), Bank Secrecy Act (BSA) in conjunction with the USA PATRIOT Act, Anti-Money Laundering (AML) and Customer Information Program (CIP), Right to Financial Privacy Act (RFPA, state and federal), California Consumer Privacy Act (CCPA) and Community Reinvestment Act (CRA).
• Intermediate skills in computer terminal and personal computer operation; Microsoft Office applications including but not limited to: Word, Excel, PowerPoint and Outlook.
• Intermediate math skills; calculate interest and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs.
• Effective organizational and time management skills.
• Exceptional oral, written and interpersonal communication skills.
• Ability to make decisions that have moderate impact on the immediate work unit and cross functional departments.
• Ability to organize and prioritize work schedules on a short-term and long-term basis.
• Ability to provide consultation and expert advice to management.
• Ability to make informal and formal presentations, inside and outside the organization; speaking before assigned team or other groups as needed.
• Ability to deal with complex difficult problems involving multiple facets and variables in non-standardized situations.
• Ability to work with little to no supervision while performing duties.
• At minimum an Associate’s Degree from an accredited college or university in related field; or equivalent work experience.
• 2-3 years relevant industry work experience.
• Experience in the banking and/or financial services industry preferred.

Salary Range: $66,560.00- 72,250.00 USD;  Final salary to be determined by the education, experience, knowledge, skills, and abilities of the applicant, internal equity, and alignment with geographic/market data.