Bank Counsel Executive - Operations, Regulatory, Risk Job
June 19, 2018
San Antonio, Texas
Full Time - Experienced
4 Year Degree
Purpose of Job
In response to an evolving regulatory landscape and in support of the growing needs of its business, USAA Bank is seeking a Legal Operations, Regulatory Control, & Risk Counsel. The Legal Operations, Regulatory Control & Risk Counsel will manage the risk profile of USAA Bank’s Legal organization and will contribute to the oversight of and the control environment applicable to the inventory of laws and regulations applicable to the USAA Bank. This individual will lead and implement best practices to ensure that the inherent and potential risks of the operations of the Legal function are proactively and effectively controlled and that new and existing laws and regulations are properly identified, processed, and implemented. This position also acts as an interface between the general counsel, the legal department, the Risk, Compliance, and Enterprise groups. This position coordinates activities such as the annual operating plan and department budgets, hiring and recruiting, as well as other activities and projects as assigned by the General Counsel. In addition, this position assumes responsibility for leading law firm and third - party vendor negotiations, developing pricing strategies, conducting RFPs (Request for Proposals), tracking and coordinating outside counsel fee arrangements and driving other cost control initiatives.
The successful candidate will bring vision, energy and significant strategy to drive the development of the Legal Operations, Regulatory control & Risk function. S/he will have knowledge of the components of risk management (identification, monitoring and reporting) as well as of the regulatory expectations of a large financial services firm. Collaborating with fellow attorneys across the Firm, the Legal Operations, regulatory Control & Risk Counsel may develop and lead a small team, be an effective communicator, and develop strong working relationships with the Risk, Compliance and CFO functional areas, as well as the business and its leadership.
Serving as Chief Counsel for legal risk and legislative and regulatory inventory related matters;
Identifying current and inherent risks within the Legal organization and proactively targeting where new risks may likely arise (e.g., risks derived from third party vendors, new legislation or case law, the use of outdated standard documentation, changes within the Legal team, atypical assumptions in legal decisioning, etc.);
Developing a control program to effectively manage, monitor and report these risks to the Chief Risk Office;
Managing and updating the inventory of all laws and regulations applicable to the USAA enterprise to ensure the Firm is prepared and compliant with all current and upcoming legal and regulatory obligations;
Staying at the forefront of regulatory changes and effectively processing and implementing new legislation within the Legal organization before it is escalated to Compliance;
Maintaining and updating service-level agreements to comply with new laws and regulations, while quickly turning around new and revised versions;
Owning the tracking of legislation and regulation on the StateScape platform for bank and partnering with Enterprise counsel to maintain a current inventory of existing laws and regs as well analyzing new and proposed rules. Laws, and regs;
Strong understanding of regulatory issue management and lifecycles;
Successfully navigating and building strong relationships across the Legal organization and ensuring proper communications to relevant stakeholders, briefing senior management on identified risks and prioritization decisions;
Responsible for developing, refining and promoting the legal department's mission, developing and executing on the department's short and long term operations plan; and creating and tracking quantitative and qualitative goals for the Function and members of the function with measurable Key Performance Indicators.
Assist in coordinating the Legal Risk Management Working Group including developing and tracking Key Risk Indicators for the function and interfacing with Operational Risk.
Similarly, working closely with colleagues in Risk and Compliance to ensure continuous improvement in the identification and escalation of legal risks and in the management of emerging regulatory trends;
Managing the processes and programs of the Legal Operations & Risk function to guarantee the attainment of current and future objectives, efficiency, growth, development and administration of the organization while implementing change as needed;
Consistently applying the highest risk management standards with a forward-looking approach;
Leading and coaching a small team;
Skills in sound judgment, problem solving, critical thinking and interpersonal communication.
Attention to detail with excellent time management and multitasking/prioritization abilities.
Strong proficiency in Microsoft Office including Excel, PowerPoint, Outlook, and Word.
Proven ability to manage multiple concurrent projects and responsibilities. and
Performing other duties and responsibilities as assigned
Bachelor’s Degree OR 4 additional years of legal experience beyond the minimum required may be substituted in lieu of a degree
Juris Doctorate degree
10+years of progressive legal experience developing strategies, managing major initiatives and delivering results within a complex matrix environment
6+ years of people leadership experience in building, managing and/or developing high-performing teams
Directly related USAA experience may be substituted at a ratio of 1:2 for experience qualification purposes.
Experience collaborating with key resources and stakeholders, influencing decisions and managing work to achieve strategic goals
Executive-level business acumen in the areas of business operations, industry practices and emerging trends
Substantial advisory and control legal experience – post Dodd-Frank – at a large financial services firm
Deep understanding of legal risk and the current financial services regulatory environment
Knowledge of new and proposed regulations issued by the U.S. prudential bank regulators, including certain regulations promulgated under the Dodd-Frank Act.
Ability to provide effective updates to legal peers on bank regulatory reform and legal developments.
Ability to effectively manage regulatory and legal risk within USAA’s Risk Appetite Statement for bank regulatory and prudential legal matters.
Pragmatic, solution oriented advisor with sound regulatory and legal risk analytics capabilities, strategic thinker
Demonstrated experience successfully collaborating across the Legal function as well as with colleagues in Risk, Compliance, Audit and the business
Demonstrated accomplishments in interactions with bank regulators, and responding to regulatory findings and issues.
In addition to the requirements mentioned above, candidates are also evaluated against job related competencies that are aligned with performance expectations for this role. These competencies are referred to as the USAA Standard and are contained in the attached addendum.
Internal Number: R0021915
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As a Fortune 200 financial services organization, USAA is on a mission - to facilitate the financial security of our members, the men and women of the U.S. military and their families worldwide by providing a full range of financial services and products. Headquartered on a showcase campus in San Antonio, TX, USAA attributes its long-standing success to its most valuable resource, our 27,000 employees. They are the heart and soul of our member-service culture.
Recently Ranked #11 in Forbes list of 500 of the "Best Employers in the U.S. in 2015", we are proud to receive consistently outstanding awards and ratings for member service, employee well-being and financial strength. Everything that happens at USAA is based on our core values: Service, Loyalty, Honesty, and Integrity. These are the foundations of how we do business with our members, as well as how we treat each other.
At USAA our employees enjoy one of the best benefits packages in the business, including a flexible business casual or casual dress environment, comprehensive medical, dental and vision plans, along with wellness and wealth building programs. Additionally, our career path planning and continuing education will assist you with your professional goals.