Founded in 1908, CIT (NYSE: CIT) is a leading national bank empowering businesses and personal savers with the financial agility to navigate their goals. We believe in helping customers turn their ideas into outcomes. Whether those customers are building a business or building their savings, CIT has the experience and agility to empower them to achieve their goals. At CIT, how we do business is just as important as what we do. Our social responsibility programs focus on driving financial and personal empowerment, supporting the environment and advancing wellness. CIT contributes to communities where we live, work and do business through charitable donations, community investments and employee volunteerism.
CIT Compliance Assurance Services (“CAS”) which is part of the Compliance Management Systems function performs risk-based, periodic, targeted, and ad hoc testing based on applicable compliance obligations.
This position will play an important role in supporting the management, execution and continued improvement of an independent compliance testing program and specifically related to CIT’s Mortgage business and reports directly to the Head of CAS.
Critical to this role is the ability to understand key elements of CIT’s compliance risk management system, with a focus on assurance activities related to CIT’s Consumer Banking including residential mortgage business.
Principal Duties & Responsibilities:
• Execute compliance testing reviews across consumer banking businesses with an emphasis on residential lending including assessing key compliance risks and evaluating associated control design and effectiveness. Participate in related meetings and complete all required documentation that supports the work performed in accordance with methodology requirements.
• Communicate test results with compliance and business management both verbally and through written Compliance Testing reports. Draft issues, reports and prepare planning memos, process narratives, flow charts, lead sheets and sample rationale documents as well as other test related material that requires minimal editing. Recommend ratings for both issues and reports based on the work performed taking into account the risk presented to the entity and to AIG.
• Build effective relationships with colleagues to enable partnership and collaboration for control related matter.
• Identify the root cause for breaches of law, regulations, policy and/or internal control deficiencies. Present suggestions for process improvements, associated corrective action as well as evaluating the timeliness and proposed remedial actions by management.
• Recommend opportunities to update the test plan based on observations during execution of test work.
• Identify opportunities to enhance operational efficiency and effectiveness both for processes being reviewed and Compliance Monitoring and Testing Methodology.
Required Knowledge, Skills & Abilities:
Education & Experience: Standard by band level or grade, across functions and businesses includes certifications need to perform essential functions of the job (ex. CPA)
Degree level (preferably, Business, Finance, or equivalent)