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Compliance Specialist

Compliance Monitoring & Testing Unit

Regulatory Compliance Department

Our Company

AtFirstBank PR, we strive to be a trusted advisor to our clients and our employees are the ones that ensure we deliver on our promise of excellence in personalized customer service. Our more than 3,100 employees in Puerto Rico, the Virgin Islands and Florida share a passion for excellent customer service. We are proud of our team because they are continuously surpassing our client’s expectations.

A Brief Overview

The Compliance Specialist supports the execution of FirstBank’s Compliance Management System (CMS), focusing primarily on federal and local consumer protection laws and regulations. The Specialists conduct compliance monitoring and testing to identify policies, procedures, governances, and training weaknesses to preclude non-compliance with requirements and prescriptions of federal and local consumer protection laws and regulations. This process also includes reviews at the transaction level during the normal , daily activities in every business or operating unit. The Compliance Specialist prepares, and issues reports documenting results and action plans addressing the findings, as applicable.

This position also works in coordination with all other units within the Regulatory Compliance Area, ensuring practices, governance, reporting, internal controls, and systems are comprehensive, timely, and successful at identifying and measuring material compliance risk throughout FirstBank, its affiliates, and subsidiaries, including the Puerto Rico, Eastern Caribbean, and Florida regions

Essential Responsibilities

• Assess business units and/or support areas’ policies, procedures, practices, and governance routines related to products and services available/offered by FirstBank.

• Conducts transaction testing to assess compliance with applicable federal and local consumer protection laws and regulations. Determines the root cause(s) for any potential violations found in transaction testing.

• Documents results of the monitoring and/or testing reviews and discuss findings and recommendations with management.

• Follow-up and/or escalating issues or open items identified , ensuring they are addressed and subsequently closed by the business units and/or support areas.

  · Identifies possible or potential consumer protection compliance risks and advises management and business units to mitigate or address the identified risks.

• Completes assigned compliance assessments, monitoring and/or testing reviews as scheduled throughout the year.

• Assists compliance managers in developing reports for FirstBank’s Board of Directors and Executive Committees, among others.

• Assists compliance managers during federal regulators examinations and/or internal audits of FirstBank’s Compliance Management Systems and compliance with consumer protection regulations, fair lending laws, and UDAAPs Standards, as applicable.

• Assist in any special project assigned by the compliance managers.

  Impact of Errors

  The impact of errors in this position could significantly impact or affect other department activities, external services; Bank’s strategic results, the Bank’s federal or local examinations, and the Bank reputational image among agencies, customers and the community in general.

  Competencies

  · Ability to thrive in a fast-paced, high-pressure environment .

  · Strong analytical and problem-solving skills .

  · Detail-oriented with effective multitasking abilities.

  · The ability to self-trained, research, track, update, and communicate compliance issues.

  · Excellent organization and prioritization skills .

  · Sound judgment and decision -making skills.

  · Ability to manage multiple important projects while simultaneously observing excellent quality standards.

  Physical Demands

  The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

  Specific vision abilities required by this job include close vision and distance vision. While performing the duties of this Job, the employee is regularly required to sit, use hands to finger, handle, or feel and talk or hear. The employee is occasionally required to stand and walk.

  What You’ll Need

  · Bachelor’s degree in Business Administration, Accounting, Law, or a related field

  · Excellent written and verbal communication skills in both Spanish and English is required.

  · Proficiency in Microsoft Office Suite (Excel, Word, PowerPoint)

  · 3-5 years of compliance or regulatory experience (Consumer Protection Laws)

  · Knowledge of banking regulations and business operations, including BSA/AML

  · Highly motivated with the ability to multi-task and prioritize assignments.

  · Willingness to travel occasionally within all Bank regions (Puerto Rico, US and British Virgin Islands , and Florida).

  FirstBank Puerto Rico is a proud to be an Equal Employment Opportunity Employer and takes affirmative action to employ Women, Protected Veterans, People with Disabilities and Minorities regardless of gender identity, sexual orientation, and any other legally protected status.