Job Information
PNC New Markets Tax Credit (NMTC) Compliance Program Supervisor in IL, United States
Position Overview
At PNC, our people are our greatest differentiator and competitive advantage in the markets we serve. We are all united in delivering the best experience for our customers. We work together each day to foster an inclusive workplace culture where all of our employees feel respected, valued and have an opportunity to contribute to the company’s success. As a NMTC Compliance Program Supervisor within PNC's Tax Credit organization, you will be based in Pittsburgh, Portland, Louisville, DC, Chicago or Boston.
Other locations within PNCs footprint may be considered.
As the NMTC Compliance Program Supervisor within PNC’s Tax Credit Solutions group, you will work with and supervise the NMTC Compliance Program Specialist to manage PNC’s compliance with New Markets Tax Credit (NMTC) program regulations and requirements. Specifically, you will manage the following responsibilities:
Collection, review, and analysis of transaction-level information required to complete periodic reporting to the CDFI Fund, including coordination of multi-CDE reporting;
Completion of all required reporting to the CDFI Fund;
Coordination of audit and tax return preparation for PNC’s Allocatee and sub-CDE entities;
Compliance monitoring with respect to PNC’s NMTC Allocation Agreements and all NMTC program regulations and requirements, including substantially all testing and redemption testing;
Review of Community Benefits Agreements during the closing process;
Collection, review, and analysis of data for NMTC allocation applications as well as ad hoc information requests and impact reporting;
Review of QLICI loan boarding and payment posting templates; and
Development of NMTC improvement initiatives related to closing, asset management, and dispositions.
In addition, you will serve as a resource for the entire PNC NMTC team and PNC’s CDE partners regarding NMTC compliance issues.
A minimum of 3 years of experience with NMTC program compliance is required.
Job Description
Supervises effective compliance programs to prevent illegal, unethical, or improper business practices. Trains and monitors junior staff and raises issues to senior team members. Demonstrates ability to constructively challenge conclusions/status quo.
Supports key business initiatives by analyzing data to identify compliance risks. Assists in providing resolutions to manage and mitigate the identified risks. If necessary, escalates identified risks to senior team members. Identifies compliance impact on matters such as marketing materials, sales programs, product development, documentation review and other business initiatives. May include developing, facilitating, and conducting Compliance training programs for junior staff.
Assesses activity for existing and emerging risks. Evaluates the materiality of the risks identified. Leverages knowledge on current laws, rules, and other regulatory requirements and drafts or assesses Compliance Manuals, Front Office materials, policies and procedures to ensure alignment. Assists in the coordination of regulatory examinations and inquiries, including the coordination of interviews and information requests from regulatory agencies.
Manages the compliance monitoring program and reviews activity to ensure it falls within established risk control limits. Leads the execution of the Compliance program objectives for assigned area, products/services, and applicable regulations. Communicates and socializes compliance program objectives to business partners and junior staff, as applicable. Independently challenges analyses and formulates recommendations. Advises junior staff on how to appropriately challenge analyses and how to formulate thoughtful recommendations as needed.
Edits compliance reports. Analyzes the reports to identify deeper issues, escalates through proper governance channels as needed, and recommends corrective action plans. Advises junior staff on report analysis techniques as applicable. Assists in updating and implementing new/enhanced reports in order to ensure timely and effective compliance with regulatory requirements.
PNC Employees take pride in our reputation and to continue building upon that we expect our employees to be:
Customer Focused - Knowledgeable of the values and practices that align customer needs and satisfaction as primary considerations in all business decisions and able to leverage that information in creating customized customer solutions.
Managing Risk - Assessing and effectively managing all of the risks associated with their business objectives and activities to ensure they adhere to and support PNC's Enterprise Risk Management Framework.
PNC also has fundamental expectations of our people managers. As a manager of talent in PNC, you will be expected to:
Include Intentionally - Cultivates diverse teams and inclusive workplaces to expand thinking.
Live the Values - Role models our values with transparency and courage.
Enable Change - Takes action to drive change and innovation that will transform our business.
Achieve Results - Takes personal ownership to deliver results. Empowers and trusts others in decision making.
Develop the Best - Raises the bar with every talent decision and guides the achievement of all employees and customers.
Competencies
Accuracy and Attention to Detail – Understanding of the necessity and value of accuracy and attention to detail; ability to process information with high levels of accuracy.
Anti-money Laundering/Sanctions Policies and Procedures – Knowledge of and ability to prevent or report money laundering and Sanctions-related activities in banking and financial services industry.
Audit And Compliance Function – Knowledge of and ability to manage the major responsibilities, accountabilities, and organization of the Audit and Compliance (A&C) function or department.
Auditing – Knowledge of organization's internal audit processes, practices and methods.
Fraud Management – Knowledge of and ability to employ internal controls and to enhance business strategies for the purpose of detecting, correcting and preventing fraudulent activities.
Internal Controls – Knowledge of and ability to create, implement, evaluate and enhance processes in internal controls.
Problem Solving – Knowledge of approaches, tools, techniques for recognizing, anticipating, and resolving organizational, operational or process problems; ability to apply this knowledge appropriately to diverse situations.
Work Experience
Roles at this level typically require a university / college degree, with 3+ years of industry-relevant experience. An operations or production environment position typically requires 2 years of previous managerial experience. In lieu of a degree, a comparable combination of education, job specific certification(s), and experience (including military service) may be considered.
Education
Bachelors
Additional Job Description
Benefits
PNC offers employees a comprehensive range of benefits to help meet your needs now and in the future. Depending on your eligibility, options for full-time employees include medical/prescription drug coverage (with a Health Savings Account feature); dental and vision options; employee and spouse/child life insurance; short- and long-term disability protection; maternity and parental leave; paid holidays, vacation days and occasional absence time; 401(k), pension and stock purchase plans; dependent care reimbursement account; back-up child/elder care; adoption assistance; educational assistance and a robust wellness program with financial incentives. To learn more about these and other programs, including benefits for part-time employees, visit pncbenefits.com > New to PNC.
Disability Accommodations Statement:
If an accommodation is required to participate in the application process, please contact us via email at AccommodationRequest@pnc.com . Please include “accommodation request” in the subject line title and be sure to include your name, the job ID, and your preferred method of contact in the body of the email. Emails not related to accommodation requests will not receive responses. Applicants may also call 877-968-7762 and say "Workday" for accommodation assistance. All information provided will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.
At PNC we foster an inclusive and accessible workplace. We provide reasonable accommodations to employment applicants and qualified individuals with a disability who need an accommodation to perform the essential functions of their positions.
Equal Employment Opportunity (EEO):
PNC provides equal employment opportunity to qualified persons regardless of race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, veteran status, or other categories protected by law.
California Residents
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