Credit First National Association is a private label credit card bank and the consumer credit division of Bridgestone Americas. The Bridgestone Americas family of enterprises, including CFNA, is comprised of more than 50 production facilities and 55K employees throughout the Americas. We provide the consumer credit solution for the Firestone Complete Auto Care, Tires Plus, and Wheel Works brands, in addition to customized retail credit services for more than 8,000 other tire and automotive retailers nationwide. At our office in Cleveland, OH, more than 300 professionals gather each day to run a successful private label credit card program. We invest in our community and strongly believe that meaningful commitment to a wide variety of philanthropic organizations builds a better world and a brand that makes us proud.
Legal, Compliance & Audit
This role oversees the development, implementation, and day-to-day execution of the Bank’s Compliance Management Program. The position provides guidance to the business related to federal and state regulations governing credit card lending and operations. They will minimize compliance and regulatory risks by resolving issues and monitoring the Bank’s compliance with the Bank’s regulatory programs and standards. Supports strategic initiatives and business process changes by identifying potential regulatory concerns and working with management to address those concerns. Develops and maintains the Bank’s Consumer Compliance Program and Compliance Management Programs.
Compliance Management Programs:
- Develop, implement, and administer the Bank's Consumer Compliance Programs and Compliance Management Program, Compliance Management Policy, and second-line procedures.
- Develop, maintain, and ensure implementation of other compliance-related policies. This includes creating and/or reviewing the Bank’s policies, standards, and procedures based on regulatory changes, internal audits, and/or examinations by regulatory agencies.
- Coordinate the Compliance Committee activities, meetings, and agendas. This includes review of the Compliance Committee and Complaint Management Committee Charters.
- Monitor for regulatory changes: ensure summaries of all revisions are forwarded to appropriate committees and management; ensure regulatory applicability matrix is kept current.
- Conduct detailed analysis of identified compliance mandates, changes, concerns, issues, internal or external compliance loss events, and self-identified issues and events.
- Advise and lead the business regarding adherence with compliance requirements related to process improvements, development of internal controls and monitoring, remediation or corrective action of compliance breakdowns, and changes in laws and regulations.
- Monitor completion of action plans; review and approve management’s action plans; approve amended policies, procedures, job aides, and training; and review and approve changes to risk control self-assessments and/or First of Line testing questions and parameters.
- Provide effective challenge and guidance on compliance risks.
- Perform or review compliance risk assessments and report summary of findings to the Compliance Committee and the Board.
- Provide oversight for change initiatives to help identify risks throughout the business process that have regulatory impacts. Provide support for implementation of risk mitigation strategies.
- Perform research as appropriate to provide sound, well-reasoned compliance advice and support to business line management.
- Oversee the effectiveness of the consumer complaint management system.
- Assist business partners in determining regulatory risks.
- Review regulatory enforcement actions, regulatory bulletins, and supervisory announcements to identify emerging regulatory risks and communicate results to business partners, Compliance Committee, and the Board, if appropriate.
- Analyze trends in Key Risk and Key Performance Indicator metrics.
Second-Line Compliance Monitoring/Testing:
- Develop, implement, and report on second-line compliance monitoring programs. Self-identify deficiencies and violations of laws and regulations, along with corrective actions, and provide reporting.
- Evaluate the effectiveness of compliance risk identification, control design, and control implementation. This includes assessing the adequacy of policies, standards, and procedures.
- Communicate compliance monitoring/testing and validation of corrective action results to business partners, the Compliance Committee, and the Board.
Training:
- Coordinate appropriate training programs for all bank personnel with respect to compliance with laws and regulations and internal policies and procedures.
Stakeholder Support:
- Maintain full knowledge of and interpret new and existing consumer compliance laws and regulations, particularly credit card compliance regulations, and determine relevant applications to the Bank’s compliance policies and procedures.
- Perform appropriate research to provide sound, well-reasoned compliance advice and support in the interpretation of regulations and the Bank’s policies and procedures.
- Serve as a technical expert regarding compliance with laws and regulations and provide direction to others.
- Maintain and expand expert knowledge of the competitive and/or regulatory landscape and the Bank’s key challenges.
- Bachelor’s degree in a business related major with a minimum of ten (10) years of Compliance, Legal, Regulatory, or Operational experience in consumer credit card compliance within the First, Second, or Third Line.
- Minimum of five (5) years managing people.
- Relevant senior level managerial experience having built, managed, and led a significant regulatory compliance function for bank.
- Knowledge of current laws and regulations related to consumer credit card lending and operations such as Equal Credit Opportunity Act, Truth in Lending Act, Fair Lending Act, Fair Credit Reporting Act, ACH Rules (NACHA), Privacy regulations, and Unfair, Deceptive, or Abusive Acts or Practices.
- Highly developed relationship management, negotiation and leadership skills and experience working with and presenting to leaders at all levels including senior executives, managers, auditors, examiners, board of directors and related committees.
- Ability to make/take calculated decisions and to think strategically and act accordingly.
- Ability to foster and embed a strong compliance culture.
- Proficient in the use of Microsoft Office tools, with an emphasis on Excel, Word, and PowerPoint.
Desired:
- Certified Internal Auditor (“CIA”), Certified Regulator Compliance Manager (“CRCM) or others that apply to regulatory compliance.
- Extensive credit card compliance experience preferred.
Bridgestone is proud to be an Equal Employment Opportunity / Affirmative Action employer. It is our policy to consider for employment all individuals regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, gender, sex, sexual orientation, gender identity and/or expression, genetic information, veteran status, or any other characteristic protected by federal, state or local law.
Employment Eligibility
If hired, a Form I-9 Employment Eligibility Verification must be completed at the start of employment. Temporary work authorization or the need for sponsorship may disqualify you from employment.