Compliance Officer

Job Description

Job Description

Education

B.S. degree in a related field; specialized risk management training; industry certification preferred.

Experience

A minimum of two (2) years of compliance experience required.

Preferred Skills

• Proficient reading, writing, grammar, and mathematics skills.
• Proficient interpersonal relations, communicative, and teaching skills.
• A thorough knowledge of banking regulations and policies relating to compliance, risk management and control systems.
• Moderate computer skills.
• Visual and auditory skills.

Role and Responsibilities

• Responsible for ensuring that all banking activities are performed in compliance with all applicable federal, state, and local regulations, as well as ensuring that appropriate systems are developed, implemented and maintained to identify, measure, monitor, and control compliance risks in accordance with applicable regulatory guidelines;
• ensuring that appropriate risk management strategies are employed throughout the company to avoid, control, retain, or transfer identified risk exposures;

reporting to and working closely with the Director of Legal, CRA & Fair Lending; reporting to the Office of Strategic Management as necessary, which consists of the President / CEO, Chief Financial Officer, Chief Risk Officer, Senior Lender, Director of Operations and the Chief Technology Innovation Officer.

Essential Duties

• Conducts applicable compliance risk assessments, including but not limited to Compliance, Bank-wide and UDAAP Risk Assessments, at least annually, to identify and properly mitigate compliance risks.
• Ensures that risk of new products and services, or significant changes in existing products and services, are adequately evaluated before they are offered / implemented.

Evaluation will be conducted in the following areas :

• All the risk categories outlined by regulations.
• The effect of the product / change on the company’s overall risk profile in each category, including the inherent risk level, risk trend and quality of risk identification, measurement, monitoring and control systems.
• Reviews conducted by other appropriate, critical members of the risk management process such as Risk Management, Legal, CRA & Fair Lending, Operations, Credit Administration, and others as applicable.
• Member of the company’s Risk Management Council.
• Ensures, in conjunction with the risk management personnel and any third-party vendor resources, that responsible Business Line Leaders throughout the company operate in compliance with applicable laws and regulations as follows :
• Establishes a system to receive, evaluate, and respond to new and changes to existing banking laws and regulatory guidelines.
• Oversees and participates in sufficient compliance testing.
• Appropriately informs directors and senior management of compliance risks and the company’s compliance management efforts.
• Identifies, in conjunction with third-party vendor resources, areas of operational compliance risk, and determining the appropriate risk management strategy to apply to control or mitigate those exposures related to identify risks.
• Assists with compliance efforts in relation to the Sarbanes / Oxley Act.
• Assists in implementing strategies to achieve goals assigned to the Risk Management Department, as established in the annual operating plan;

assists in the development of the annual budget for the Risk Management Department and adheres to budget parameters.

Cooperates with, participates in, and supports the adherence to all internal policies, procedures, and practices in support of risk management, overall safety and soundness, and the bank’s compliance with all regulatory requirements, e.

g. Community Reinvestment Act (CRA), Bank Secrecy Act (BSA), Equal Credit Opportunity Act, etc.

• Coordinates distribution, receipt, and review of the Code of Conduct and Ethics Certification Statement for all Directors, officers, and other qualifying representatives.
• Assists in developing and updating the bank’s compliance policies and procedures Ensures all company policies are reviewed and approved by the Board of Directors annually.
• Organizes the work and activities of the Risk Management Department in order to achieve established goals; monitors the efficiency and performance of the department versus established standards.
• Keeps staff, management, and directors informed of compliance standards by reviewing pertinent compliance news from internal and / or external resources and services and distributing relevant data through training sessions or internal memorandums.
• Provides central direction and support to all the bank personnel by defining compliance standards and researching compliance issues.
• Develops, implements, and monitors a periodic review program to assess compliance performance within banking departments affected by consumer protection laws and regulations.
• Coordinates compliance and CRA examinations with banking examiners by serving as the bank’s primary contact.
• Establishes a compliance training program and direct all compliance training activities. As well as develop and maintain a library of compliance resources.
• Investigates all potential consumer complaints and compliance violations and develop recommendations for corrective action;
• Provides periodic reports to the Office of Strategic Management, the Audit Committee, the Board of Directors, Chief Executive Officer and other groups as required throughout the company.

Ancillary Duties

Performs tasks which are supportive in nature to the essential functions of the job, but which may be altered or re-designed depending upon individual or departmental circumstances.

Physical Requirements

• Must be able to remain in a stationary position more than two-thirds of the time.
• The person in this position needs to occasionally move about inside the office to accomplish tasks.
• Frequently communicates with others to exchange information.
• Constantly moves wrists, hands, and / or fingers.
• Must be able to assess the accuracy, neatness, and thoroughness of the work assigned.
• Sedentary work that primarily involves sitting / standing.
• Must be able to occasionally do light work that includes moving objects up to 20 pounds.
12 days ago