Compliance Officer - Banking
The Compliance Officer is responsible for the development, implementation, and continuous monitoring of the Bank’s Compliance Management System. The position requires in depth knowledge of all Federal and state regulations related to lending, deposits, Community Reinvestment Act, the Fair Credit Reporting Act, the BSA/OFAC USA Patriot Act Compliance Program and the Dodd Frank Act of 2010. The incumbent interacts with all business lines ensuring the Bank’s compliance with said laws and regulations. The incumbent regularly interacts with senior management in performing and evaluating risk analyses of all applicable product lines.
Essential Duties and Responsibilities:
- Creates and continuously reviews/updates the Consumer Compliance Management Program (CCMP) including performing analysis of individual business lines, products, and services.
- Monitors all state and Federal consumer laws and regulations for changes, guidance, and interpretations and updates the CCMP accordingly.
- Serves as the Bank Secrecy Act and OFAC Officer; oversees the Bank’s BSA Program including policy/procedure development and training.
- Advises all consumer product business lines regarding policies and procedures necessary to comply with applicable consumer protection laws and regulations.
- Monitors Fair Lending, CRA, and UDAAP programs to ensure compliance including periodic reviews of HMDA reports.
- Monitors, reviews, and approves marketing programs and copy.
- Conducts periodic reviews of branch and business line compliance with applicable consumer protection laws and regulations, including ensuring all relevant documentation and work product is maintained appropriately.
- Develops, reviews and maintains Bank-wide training on Compliance matters, including Board of Directors Compliance training.
- Reports on the status of the Bank’s CCMP and provides Fair Lending training to the Board of Trustees annually.
- Monitors and tracks consumer complaints, escalating necessary findings relating to trends, systemic issues, or unfair practices.
- Other duties as assigned.
Knowledge, Skills, Abilities and Requirements:
- Bachelor’s degree is required.
- Seven or more years of experience with retail banking operations, policies and procedures relating to consumer laws and regulations.
- CRCM designation, strongly preferred.
- Verafin knowledge, strongly preferred.
- Strong verbal, written, and analytical skills required.
- Must be able to multitask.
- Ability to think strategically.
- Work collaboratively with colleagues to achieve goals.
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