Compliance Officer

The Compliance Officer will be responsible for planning, implementing, and monitoring all aspects of compliance with respect to applicable federal and state statutes and regulations, and client operational and security compliance requirements. This position will act as a primary liaison with clients in their review and auditing of our control environment, and coordinate compliance strategy, policy, and procedure between the various sections within the Creditors’ Rights Department and the relevant firm administration departments. This position will also carry primary responsibility for coordinating and achieving acceptable results on all necessary third-party certifications, such as SSAE16, ISO 9000, or similar attestation certifications.

Essential Duties and Responsibilities:

  • Manages the practice’s Compliance Management System.  Consistently reviews, audits, and evaluates the policies, procedures, and systems.  Drafts and obtains approval for all new or revised policies/procedures necessary to maintain compliance with current and new clients or regulatory requirements.  Reviews proposed changes to policies and procedures and provides compliance-related feedback as required.  Ensures that all policies and procedures are properly documented and maintained to prevent illegal, unethical, or improper conduct.
  • Reviews and stays abreast of consumer compliance and privacy laws, regulations, and best practices to ensure firm business goals and objectives are met.
  • Communicates regulatory and client changes and requirements to all managers.  Keeps all practice employees and managers apprised of changes in compliance policy and procedure through regular written communication, and presentations at practice meetings.
  • Responsible for overall risk management of the audit function. Conducts an annual risk assessment, incorporating legal/regulatory exposure, operational risk, frequency of audit findings in the area, and employee skills/turnover to set the audit review schedule.  The audit schedule and audit plan include testing for the key functions, processes, and controls.  Creates detailed audit programs, setting forth audit procedures, audit objectives and testing attributes to ensure compliance with current laws and regulations; internal procedures; and client requirements.
  • Identifies potential areas of compliance vulnerability and risk; develops and implements corrective action plans for resolution of problematic issues and provides general guidance on how to avoid or deal with similar situations in the future.
  • Provides compliance training to firm employees, developing and updating materials as needed, and provides informed guidance on all questions or issues of a compliance nature.  Evaluates and develops employees’ understanding of compliance-related aspects of their job duties.  Coordinates all regulatory training for other practices of the firm including real estate, construction, consumer litigation, bankruptcy, foreclosure, accounting, and information technology.
  • Coordinates and oversees all client audits, reports overall audit results, and outlines issues and suggestions to improve compliance.  Follows up on and coordinates necessary corrective action required to resolve audit findings.
  • Oversees the vendor management program to ensure all vendors and contractor agreements meet firm requirements and all necessary qualifications.  Requires annual vendor reviews be conducted to ensure risks are measured, monitored, and controlled.  Also reviews all potential clients and reviews all contracts, documentation, requirements, and background before acceptance and onboarding.
  • Performs bi-annual testing for ALTA standards for the real estate practice in the firm.

Knowledge, Skills, and Abilities Required:

  • Bachelor degree in a related field preferred
  • Experience conducting internal and external audits
  • Strong working knowledge of federal and state consumer compliance regulations
  • Strong working knowledge and experience with internal control and risk management concepts and practical application
  • Strong working knowledge and experience with general information systems design, operation, and security vulnerabilities and risk management
  • Proven effective presentation skills
  • Effective writing and communication skills, including specific experience in documentation of internal controls, policy, and procedure.
  • Excellent research skills and the ability to effectively translate and communicate findings to others
  • Well developed analytical and critical thinking skills
  • Proficient with Microsoft Office
  • Ability to work in a team environment
  • Proven ability to efficiently manage processes and projects, including an awareness and effective ability to plan and manage on a detailed level

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Shape919.250.2000 noun_20940@smithdebnamlaw