Director of Regulatory Compliance - WEX Bank

About WEX Bank: 

WEX Bank is a leading provider of financial solutions and payment services. We are committed to providing our customers with exceptional service while maintaining the highest standards of compliance and ethical conduct. 

About the Team/Role 

We are seeking a highly experienced and skilled Director of Regulatory Compliance.   The candidate who assumes this role will lead a team of compliance professionals supporting execution of the Bank compliance management program, including risk assessments, compliance policies and procedures, training, issues management, complaint administration, regulatory filings, third party risk management and the Community Reinvestment Act (CRA).  The candidate will be a strong people leader who gains the respect and trust of his/her/their team; additionally, the incumbent will provide technical guidance and partnership with the global compliance teams and WEX Inc. compliance center of excellence to ensure compliance with applicable Federal and State laws, regulations, internal policies and procedures and regulatory expectations.  This individual will report directly to the Sr. Director, Chief Compliance Officer and will support the CCO as a subject matter expert with any duties as assigned, being agile and flexible, as these may change from time to time.  

How you'll make an impact

• Leadership. The Individual will provide leadership in compliance management, risk mitigation, and will be responsible for designing compliance strategies in line with legal requirements, guidelines and regulations.  Execution will include providing management and direction to the compliance group, Bank’s affiliates and third parties.  Further, this Individual will liaise with the Enterprise Risk Management (ERM) team, WEX Inc. compliance team(s), coordinate with lines of business, operations, credit risk, and technology teams, etc. to ensure controls are accurately documented and implemented.   

• Program Management. This Individual will lead a professional team in successful execution of the compliance management program including risk assessments, policies, procedures and control documentation, complaint administration, training, issues management, reporting, third party management and the Community Reinvestment Act (CRA). This Individual will coordinate with internal and external auditors for completion of audits and interface with the Compliance monitoring and testing team to ensure successful execution of the CMP. 

• Regulatory Engagement: This critical role demands a professional with deep expertise in federal and Utah (UDFI) banking laws, regulations, and supervisory guidance, including consumer protection, fair lending and safety and soundness. This Individual  will be a primary point of contact and strategic liaison for all interactions with regulatory authorities (UDFI, FDIC, CFPB, etc.), expertly representing the Bank during examinations, inquiries, and ongoing communications. This includes managing the entire examination lifecycle, from preparation and coordination to response development and remediation tracking.  This Individual will also be responsible for building strong relationships with regulators and providing insightful compliance reports to management on all regulatory interactions and examination outcomes. This requires continuously monitoring regulatory changes, proactively addressing potential compliance challenges, and ensuring the Bank maintains a strong and collaborative relationship with its supervisory agencies, ultimately safeguarding its regulatory standing.

• Data & Analytics. Partner with relevant teams to ensure adequate compliance data analytics to support the team function and drive efficiency; 

• Industry Awareness.  Maintain and build understanding of relevant industry standards, best practices, and technologies; assess the impacts to the Bank, its products and  control environment, and collaborate with leadership to enhance or implement controls that effectively mitigate risk;

• Culture. Promote a desired compliance-aware culture within the Bank and affiliates while in parallel driving adoption of Bank culture; 

• Risk Management Framework.  Maintain a risk based compliance risk management framework to include risk assessment, training, testing, and reporting; and

• Policy/Procedure Development & Maintenance. Maintain and assist in developing bank policies, procedures and control documentation.  

The following provides additional insight into the role’s responsibilities and duties, but is not exhaustive. 

• Proven strong change management and leadership skills. 

• Builds strong relationships of trust with leadership.

• Oversee annual compliance training plan and compliance training module content.  Creates, documents, and maintains ancillary or additional non-computer-based modules for training needs as necessary.  Implement and formalize a training program for significant policy or procedure changes. Plans an annual training budget; coordinates to ensure a fair approach to employees obtaining and maintaining industry certifications;

• Influences the lines of business to ensure first line controls and monitoring are in place.  Collaborates with compliance monitoring and testing group;

• Supports the Management Compliance Committee, its equivalent, and/or other Bank or Global compliance related committees; and

• Creates management and board level reporting for all areas of compliance.

Experience you'll bring 

• Bachelor's degree in business or a related field 

• Minimum of twelve years of experience in banking and compliance and/or leading a team of compliance professionals

• Proven track record of success in leading and managing compliance programs

• Strong understanding of applicable regulatory requirements  

• An effective global leader with a proven ability to lead, develop and manage a compliance team with global impacts effectively

• Ability to build strong relationships and influence stakeholders across various business units

• Proactive, problem-solving approach with a commitment to continuous improvement

• Experience working with external bank examiners

• Compliance experience with credit cards and corporate payments.

• Certified Regulatory Compliance Manager (CRCM) or equivalent certification (preferred)

The base pay range represents the anticipated low and high end of the pay range for this position. Actual pay rates will vary and will be based on various factors, such as your qualifications, skills, competencies, and proficiency for the role. Base pay is one component of WEX's total compensation package. Most sales positions are eligible for commission under the terms of an applicable plan. Non-sales roles are typically eligible for a quarterly or annual bonus based on their role and applicable plan. WEX's comprehensive and market competitive benefits are designed to support your personal and professional well-being. Benefits include health, dental and vision insurances, retirement savings plan, paid time off, health savings account, flexible spending accounts, life insurance, disability insurance, tuition reimbursement, and more. For more information, check out the "About Us" section.

Pay Range: $158,000.00 - $210,000.00