Compliance Officer

Compliance Officer

Job Description

SUMMARY: Duties include informing Bank personnel of changes in the laws and regulations applicable to the Bank’s activities, submitting proposed policies on compliance issues for consideration by the board, preparing procedures to implement policies adopted, training Bank personnel in the compliance duties of their jobs, and such other regulatory compliance-related functions as the Bank may prescribe.

RESPONSIBILITIES INCLUDE:

• Ensure the existence of a comprehensive, effective and efficient regulatory compliance program for the bank by developing and coordinating the bank’s efforts to comply with all applicable laws and regulations.
• Maintain a current knowledge of applicable laws, regulations, and issues.

Oversee the compliance function on an ongoing basis.

• Establish bank-wide compliance policies and procedures that support the strategies and goals for the bank as expressed by executive management.
• Assess employees’ knowledge and comprehension of compliance training subject matter periodically.
• Review policies and procedures for compliance with applicable laws and regulations and the bank’s stated policies and procedures as well as for changes in operations, products, services, etc.
• Modify policies and procedures to comply with regulatory changes.
• Report to the Board of Directors or Audit Committee on any significant compliance issues within the bank, and the status of the compliance program in general.
• Monitor compliance with laws and regulations throughout the bank by creating and establishing annual self-assessments, reviewing self-assessments performed others as applicable and reporting findings to Audit Committee of Board.
• Develop internal controls to test compliance and prepare guidelines and checklists for performing testing functions.
• Monitor legislative and regulatory activity and inform management on emerging compliance issues or potential liabilities.
• Monitor and assess industry trends and “best practices” in the compliance field through ongoing involvement in industry associations and activities.
• Serve as primary contact with the regulatory agency for any regulatory compliance examination of the bank, and report on any significant issues to executive management and the board of directors as appropriate.
• Serve as primary contact with internal auditors and/or external auditors for any regulatory compliance audits of the bank, and report on any significant issues to executive management and the board of directors as appropriate.

• Maintain ongoing communications and coordination with regulatory agency examiners, as well as internal and external auditors.
• Oversee the submission of formal comment letters to implementing agencies concerning proposed new or modified regulations affecting the company.
• Develop, implement, conduct or coordinate training programs, sessions, and seminars to educate bank personnel, management, and Board of Directors on compliance requirements and procedures in their respective areas of responsibility.
• Research regulatory issues and respond to compliance questions from bank personnel, utilizing legal and regulatory reference manuals, consulting bank counsel, in consultation with the CEO, and contacting professional associations and organizations as appropriate.
• Research compliance issues and provide guidance to management related to proposed new products/services or changes to existing products/services.
• Assist bank management and/or personnel with handling substantive consumer complaints against the bank, working with legal counsel and regulatory agencies when appropriate, to determine the cause of the complaints, act to ensure a timely resolution, and improve the bank’s business practices, as appropriate, to prevent further violations.
• Review bank forms, notices, brochures, web pages and advertisements for compliance with laws and regulations, coordinating with legal counsel, marketing, forms design, computer programmers, and other personnel as necessary.
• Assist in preparing for audits and regulatory examinations, including providing responses to compliance related examinations and audits.

Education, Work Experience, Skills and Other Requirements:

• Required 4 year college degree, preferably B.B.A. finance or risk management major.
• Required 5 years prior experience in financial institution compliance activities.
• Experience in lending, deposit, teller, marketing, and operations activities a plus.
• Ability to comprehend and interpret regulations and statutes.
• Writing skills and oral presentation skills.
• Good interpersonal communication, organizational and computer skills.
• Ability to operate standard office equipment and software.

Job Type: Full-time

Benefits:

• 401(k)
• Dental insurance
• Flexible spending account
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Vision insurance

Physical Setting:

• Office

Schedule:

• 8 hour shift

Work Location: One location