Quality Assurance Specialist

Job Description:                             

The  Compliance Quality Assurance Specialist performs monitoring  on third-party payment providers and fintech compliance programs for compliance with laws, regulations and rules governing Open Banking. Ensure management is continuously informed of all aspects of the Bank’s Open Banking compliance risk.  This position will be responsible for the monitoring of Open Banking partners compliance programs including transactions, policies and procedures, and current processes.

Main Job Tasks and Responsibilities:

• Operationalize compliance regulatory requirements, including drafting procedures and process documentation.


• Perform initial and ongoing due diligence of third parties including compliance risk assessments,  marketing compliance reviews, and evaluation of compliance management programs.


• Stay up to date on developing trends in the financial services industry.


• Promote a "culture of compliance" to ensure efficient and effective risk and compliance management practices by adhering to required standards and processes.


• Understand business and regulatory compliance requirements for payment processors including MSBs and ensure functions are being performed within those requirements.


• Ensuring open banking third party programs are in compliance with laws and regulations applicable to the products and services engaged with Evolve Bank & Trust.


• Maintain up to date knowledge on financial services compliance regulatory changes and the fintech industry landscape.  


• Participate in the development of technological enhancements.


• Possess strong knowledge of the business line, including the business plan and products.


• Review existing operational procedures and methods and recommend changes for improvement with an emphasis on automation and efficiency.


• Function as the liaison between third parties, business lines, operations, and the technical areas and the compliance function to ensure appropriate compliance risk oversight.


• Understand applicable consumer protection laws and  regulatory landscape and compliance requirements for new and existing Evolve Open Banking products and services.


• Extensive experience with digital-only banking environments including mobile-only or mobile first banking.


• Assist in the development, implementation, and periodic performance of key controls.


• Maintain the Open Banking compliance library, including developing Open Banking (Banking as a Service) compliance specific training.


• Manage ad-hoc projects, as required.


• Other duties supporting Compliance as assigned.

Education and Experience:

• Bachelor’s Degree or above.


• Minimum of 3-5 years’ experience of Open Banking (Banking as a Service) Compliance and/or financial services audit, operations experience or equivalent.


• Experience operating and contributing to a strong compliance management system/program


• Strong knowledge of consumer and general compliance regulations including Regulation B, Regulation E, Regulation DD, Regulation Z, and UDAAP.


• Understanding of compliance risk methodologies and due diligence.


• Prior Banking Compliance Quality Assurance experience, a plus.


• Skilled with Microsoft Word, Excel, Outlook and related software applications.


• CRCM a Plus.

Key Competencies:

• Must have the ability to work effectively and independently


• Good verbal and written communication skills.


• Well organized; ability to multitask; attention to detail.


• Ability to prioritize and work well under pressure and in a fast-paced environment.


• Must be able to work in a team environment and adapt to change.


• Ability to manage multiple projects and deadlines simultaneously in a fast-paced, high production, professional environment.


• Excellent problem-solving skills.