Regulatory Issue Validation Officer

Who We Are

Cross River is a highly profitable, fast-growing financial technology company powering the future of financial services. Our comprehensive suite of innovative and scalable embedded payments, cards, and lending products deliver financial services for millions of businesses and consumers around the globe. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion.

We are on a mission to build the infrastructure that propels access, inclusion, and the democratization of financial services. While our company has tripled in size over the last three years, our strong sense of purpose led Cross River to be named to American Banker’s list of Best Places to Work in Fintech for the last 6 years. The reason for this success is simple – our nimble and collaborative family culture lives in every member of our growing team. Together we are at the forefront of technology and innovation, and we invite passionate, collaborative, and motivated high performers to join our expanding team.

What We're Looking For

The Regulatory Issue Validation Officer is a self-starter who has the energy and enthusiasm to take on an important role within Internal Audit's (IA) Professional Practices IA & Administration function. This role evaluates organizational business risks, develops and communicates an issue validation plan, leads and executes audits, and recommends improvements to internal controls and operating processes. Completes the roles activities under the direction of the Head of Professional Practices IA & Administration and/or the Chief Internal Auditor and implements corporate and divisional strategic plans.

Responsibilities:

• Responsible for IA’s regulatory issue activities and tracking/reporting of the IA teams’ validation results/status that will be communicated to the Audit Committee, as well as to key internal stakeholders.
• Scope, develop and prioritize plans for IA's strategic initiatives to fulfill Regulatory issue requirements and complete the required validation work.
• Support and advise IA Portfolio Managers (PM) on regulators expectations and potential enhancements to IA’s approach or remediation action plans as discussed during the course of exams, ongoing supervisory events and inquiries (prior to firm’s interactions/responses).
• Ensure integrated activities across regulatory responses and remediation activities are well coordinated.
• Review/challenge proposed corrective actions/IA’s remediation approaches to ensure that they address the regulatory issues.
• Monitor IA’s progress in completing undertakings made to regulators during the course of inquiries and exams.
• Persistently follow-up with IA teams to ensure that the appropriate information is obtained and recorded in a timely manner.
• Identify and effectively escalate potential issues to the appropriate IA PM with appropriate solution(s) proposed.
• Respond to ad-hoc data requests from various stakeholders by coordinating with other CRB departments and other internal stakeholder working groups.

Qualifications:

• Bachelor’s Degree Required – Accounting or Finance preferred
• Ten or more years of experience in Internal Audit within the financial services sector
• Experience with the financial industry and related markets, regulatory bodies, and current industry events and trends
• Experience organizing and tracking regulatory issues and responses, including effectively tracking milestones, and completing status reporting.
• Experience reviewing and challenging proposed corrective actions, ensuring regulatory issues are addressed timely.
• Showed strength in technology as required for assigned areas (MS Office, audit data analytics, etc.)
• Strong understanding of risk governance frameworks and U.S. Regulatory Expectations (i.e. OCC, FRB, FDIC, CFPB and etc.) for U.S. Banking organizations, in multiple risk areas (operational risk, compliance, financial risk, IT, TPRM and etc.)
• Strong analytical and problem-solving skills
• Strong verbal and written communication skills
• Experience working with financial industry regulators, including OCC, FRB, and/or FDIC
• Relevant certification of industry accreditation (e.g. CIA, CRMA, CRCM, CAMS and etc.) preferred.
• Experience in regulated financial services environment with direct interactions with regulators preferred.
• Experience from various financial institutions (preferably in Capital Markets and/or Retail banking focus) preferred.

#LI-TP1 #LI-Hybrid

Salary Range: $170,000.00 - $190,000.00