Job Description

Recruiting a Compliance Officer to join our client's team . This canidiate plays a critical role to ensuring the Bank operates in a safe and sound manner, while protecting its consumers. The role requires extreme attention to detail, reporting, testing, corrective action, and project management skills. In addition, a successful bank compliance officer must continually evaluate through testing and research the bank’s policies and procedures to ensure compliance of state or federal banking and consumer protection laws.

Duties and Responsibilities of a Compliance Officer

The primary responsibility of the Compliance Officer is to establish and maintain the Bank’s Compliance Management System (CMS) that is demonstrated throughout all levels of the organization. 

· Possess expertise in Banking Consumer Protection Law and Regulations, specifically in the area of Mortgage, Fair Lending, and Depository Services.

· Have a working knowledge of Bank Secrecy Regulations, Fair Credit Acts and Anti-Money Laundering Laws.

· Be accountable to ensure that the bank’s policies and procedures comply with all rules and regulations associated with mortgage and consumer lending and depository services.

· Research topics regarding banking rules and regulations and oversee needed changes to polices and/or procedures;

· Implement and manage new rules and regulations when they are passed by state or federal governing bodies;

· Have expert knowledge in and enforce public interest and consumer protection laws;

· Offer advice to the Executive Management on compliance-related topics;

· Provide regular training for newly hired employees, banking staff, and Board of Directors, particularly when any state or federal laws change.

· Initiate investigations when possible when non-compliance takes occurs within the institution to determine the root cause and corrective action;

· Coordinate Examinations and Audits, while also providing support and assistance to outside auditors/examiners when necessary

· Lead and conduct testing of processes and procedures related to Consumer Compliance as well as other Quality Control practices and standards.

· Report findings to Management and the Board of Directors’ Audit Committee.

· Confirm corrective actions are taken to promptly address testing, audit and exam finding

· Develop and oversee control systems to manage all aspects of the Corporate-wide Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Assets Control (OFAC) programs from a Leadership and Strategic perspective. Prepare and implement corporate BSA, AML, and OFAC policies. Evaluate and revise control systems and procedures as risks emerge.

· Provides Leadership and Direction to proactively and consistently instill an enterprise-wide Culture of Compliance with all BSA, AML, and OFAC obligations. Serves as the Bank’s subject matter expert on the BSA, USA PATRIOT Act, and OFAC sanctions, as well as related regulatory guidance and industry best practices.

· Performs and directs ongoing BSA, AML, and OFAC risk assessments; identifies acceptable level of compliance risk and corresponding controls; identifies and provides solutions to address gaps in controls, mitigate risks, and enhance training.

· Monitors and tracks BSA, AML, and OFAC related laws and regulations that may affect corporate projects, strategic plans, policies and procedures and develops and coordinates implementation plans with affected areas.

· Assist Audit department with specific testing, schedule planning, coordination with internal/external auditors, & validation of audit findings.

· Other duties and responsibilities as needed.

Required Knowledge, Skills and Abilities

· Keen analytical skills

· Detail oriented

· Basic working knowledge of all banking functions

· Experience with testing, corrective action plans, management reporting;

· Excellent research skills

· Strong written and verbal communication skills.

· Ability to operate computer systems freely to maximize automation of processes

· Demonstrate the highest ethical standards in order to properly execute the duties of a compliance officer.

Education and Experience

· Bachelor’s Degree in Business related field or equivalent combination of education and experience; CAMS certification preferred.

· 3 to 5 years of direct experience as a Bank Compliance Officer

· 1+ years of project management experience

· Advanced computer skills with Microsoft Office

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