Bank Compliance Testing Specialist III

Job Location US-IL-Chicago
Posted Date 3 months ago(8/5/2020 10:37 AM)
# of Openings


Forbes 2019


CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. CIBC offers a full range of advice, solutions and services in the United States, across Canada and around the world. In the U.S., CIBC Bank USA provides commercial banking, private and personal banking and small business banking solutions and CIBC Private Wealth Management offers investment management, wealth strategies and legacy planning.


CIBC works to help you make your ambitions a reality with a team that is committed to being always professional, genuinely caring and collaborates to find simple solutions as we build our relationship-focused bank for the modern world.


Every year, CIBC is recognized for its business success, community commitment and employee initiatives.  We are proud of this success and are committed to creating an inclusive workplace and an environment where all of our team members can excel.


The Compliance Testing Officer is responsible for executing the US Compliance Testing Plan established to ensure the company’s compliance with state and federal laws and regulations. The position supports overall compliance through execution of testing programs designed to evaluate the effectiveness of business practices in meeting regulatory compliance. This position primarily tests compliance with consumer protection, fair lending and operational regulatory requirements applicable to retail and commercial banking at an FDIC chartered bank, but may also support other areas of the company.


Key responsibilities include:

  • Develop, perform and document risk-based testing to evaluate the company’s adherence to policies, procedures, state and federal laws and regulations
  • Execute assigned compliance testing reviews in a timely manner in accordance with the annual Compliance Testing Program
  • Evaluate processes for key compliance controls and develop strategies to ensure appropriate and effective testing of controls
  • Identify control weaknesses and root causes of compliance deficiencies, conduct extensive research to support regulatory findings/control weaknesses and propose appropriate corrective action
  • Assess the adequacy of remediation activities, monitor through completion and escalate past-due items
  • Collaborate with compliance partners and line of business management throughout the compliance testing process to ensure timely and transparent communication
  • Prepare high quality work papers and final testing reports, which are presented to management, management committees and the Board of Directors.
  • Assist with preparation of periodic and ad-hoc reports for management, committee and Board of Directors
  • Assist with the development of the risk-based annual compliance testing plan
  • Assist with other compliance-related projects and tasks, as requested


Minimum Knowledge, Skills and Abilities Required:

  • Bachelor's degree
  • Proficient in Microsoft Office software applications
  • Extensive knowledge of the bank and consumer compliance requirements, including federal banking regulator(s) rules and regulations
  • Comprehensive knowledge of federally recognized examination procedures to evaluate compliance with related laws and regulations
  • Excellent verbal and writing skills
  • Strong interpersonal skills and ability to work effectively in a team environment
  • Ability to manage multiple projects and deadlines simultaneously
  • Ability to interact with line of business representatives to ensure that results are understood and recommendations are implemented
  • High degree of integrity and strong work ethic

Preferred Qualifications:

  • 5-7 years of consumer compliance and risk management experience
  • Experience in audit or as a commissioned examiner, a plus
  • Professional certification (CRCM a plus)


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