at MIDLAND STATES BANK in Rockford, Illinois, United States
Job Description
At Midland States Bank, base salary is one component of our Total Rewards program. Exact compensation is determined by factors such as (but not limited to) education, skills, internal equity, and experience. This position offers additional compensation in the form of short-term incentives (i.e. bonus and/or commission) and may include long-term incentives (i.e. stock awards). Benefits for this role include comprehensive healthcare, well-being benefits, paid family leave as well as generous paid time off. Total Rewards also include banking perks, an Employee Stock Purchase Plan, 401K plan with company match and may include the opportunity to participate in our Non-Qualified Deferred Compensation plan. Incentives and benefits are subject to eligibility requirements.
Position Summary
The Senior Manager – Risk and Compliance WM is responsible for leading all aspects of the risk management and compliance functions within the Wealth Management division. The incumbent is also responsible for planning and executing key strategic projects across the division. This position must help plan, execute, and monitor compliant implementation and ongoing risk oversight for RIA business model. Additional coordination with Trust leaders managing risk protocols within current Trust company. Position reports to Chief Operating Officer, President of Midland Trust Company.
Primary Accountabilities
- Collaborate on the design and implementation of process to ensure minimized business risks while accommodating growth of the organization.
- Oversee business unit’s quality assurance, risk management, and compliance programs.
- Responsible for surveillance tasks to verify the firm’s compliance with policies, procedures, governing documents, and regulations.
- Create and maintain reports of risk management / compliance activities, including remediation and exception reporting and KRIs, to senior management.
- Maintain the WM Trust & Investment Policy manual including proposal of new policies, edits to existing policies and ongoing recertification of existing policies.
- Leverage technology and champion change within business unit to improve end customer and employee experience and to improve operational excellence/efficiencies.
- Provide for continuity and growth of WM Risk Management department by fostering constructive culture and developing team members.
- Oversee WM business unit prepared regulatory reporting such as RC-T, Statement of Condition, KRI, KPI, etc.
- Serve as the named Chief Compliance Officer for any WM RIA or broker/dealer entity and serve as business unit liaison with Corporate Compliance and Information Security.
- Participate in long-range planning as a member of WM leadership team.
- The role requires occasional travel for training and team meetings, and willingness to travel periodically, to locations within market as needed.
- May require work in a Midland office to ensure collaboration and support of internal and external customers.
- Maintain compliance with all applicable regulations including, but not limited to, the Bank Secrecy Act (B
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Midland States Bank is an Equal Opportunity Employer and does not discriminate against any applicants for employment based on their race, color, religion, sex (including pregnancy, sexual orientation, or gender identity), national origin, age, physical or mental disability, genetic information, veteran status, uniformed service member status, or any other status protected by law.
