Xerox State & Local Solutions Inc. is seeking an experienced Commercial Compliance Director to manage its Electronic Payment Card Commercial Compliance Program. The position requires a unique mix of state and federal compliance knowledge, organization, creative thinking, and relationship building skills.
This position will be responsible for supporting and administering all aspects of the company’s Commercial Compliance Program. This position will be responsible to plan, organize and support the line of business by providing input on business regulatory requirements. Provide compliance advice on complex projects to ensure compliance with applicable federal, state laws and regulations. Position will maintain a professional working relationship with external clients, vendors, and with various levels of staff and management internally.
This role will report directly to the VP, Risk and Compliance. The position will have direct managerial responsibility and oversight for the Commercial Compliance department staff.
Core Duties and Responsibilities
· Ensure the company’s commercial card services compliance policies are consistently and correctly executed. Maintain such policies in alignment with the company’s overall risk mitigation strategies.
· Provide commercial compliance-related support and/or training to lines of business.
· Provide commercial compliance advice/assessments to multiple lines of business
· Maintain and update commercial compliance program related risk assessment frameworks.
· Remediate any areas where commercial program compliance weaknesses have been detected.
· Support/manage regulatory audit processes from multiple banking partners on any commercial programs
· Identify the internal and external stakeholders who need to be involved in solving issues
· Focus on risk to the business determine the priority of the issues and set priority of work based on the level of risk.
· Work with multiple LOBs in the development of new commercial products or modifying existing ones, to identify any compliance related issues or new compliance requirements.
· Work closely with internal departments, clients, issuing banks, internal and external legal counsel.
Experience/Competencies
· 7 plus years of directly relevant commercial experience in the financial services industry, electronic payments (pre-paid, debit, credit) in a regulatory operational compliance, risk management and/or related banking service function required.
· Specific payroll and/or incentive payments card knowledge required
· Knowledge/experience with MTL licensing a plus
· Automated AML/BSA monitoring knowledge required
· Bachelor’s Degree. Advanced degree a plus.
· Certified Anti-Money Laundering Specialist (CAMS) and/or Certified Regulatory Compliance Manager (CRCM) certification or willingness to become certified.
· Meaningful experience working with Federal and state banking regulators preferred.
· Strong ability to understand, analyze, translate and communicate regulations into clear and concise policies and procedures.
· Clear and concise communication in written, verbal and presentation skills.
· Ability to function effectively in a fast-paced environment with multiple priorities.
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