Compliance Officer

About the role

This position is responsible for running the Bank's comprehensive regulatory compliance program, formulating recommendations, implementing changes, reviewing Bank activities and processes, and reporting status and findings. The role collaborates with all areas of the Bank to ensure compliance with state and federal law.

Responsibilities

• Consumer compliance program:
  • Handle day-to-day operation of the Bank's Compliance Program.
  • Conduct ongoing internal compliance reviews and monitoring; act as Chair of the Bank's Compliance Committee.
  • Report to the Compliance Committee and Regulatory Counsel on the status and findings of compliance reviews and monitoring.
  • Support and monitor implementation of remedial actions and recommendations to improve controls and outcomes.
  • Stay up-to-date on consumer compliance regulations affecting the Bank and work with business lines to implement appropriate changes in policy, procedures, forms, signage, and staff training.
  • Ensure new products, processes, and services comply with applicable rules and regulations.
  • Review and approve advertisements, disclosures, and other Bank materials as needed.
  • Comply with all applicable Federal and State banking regulations and all Bank operating policies and procedures.
  • Meet or exceed performance standards and objectives established for compliance officer performance.
• Loan compliance:
  • Oversee the Bank's regulatory compliance for all lending programs, including residential, consumer, and commercial lending activities.
  • Ensure compliance with lending regulations such as:
    • Prohibition against Unfair, Deceptive, and Abusive Acts or Practices
    • Flood Disaster Protection Act
    • Homeowner's Protection Act
    • Regulation B (Equal Credit Opportunity Act)
    • Homeownership Counseling Act
    • Regulation Z (Truth in Lending Act)
    • Fair Housing Act
    • Real Estate Settlement Procedures Act (RESPA)
  • Notify the Compliance Committee and management of any violations or negative trends in loan compliance; support corrective action implementation.
  • Monitor regulatory and legal changes affecting loan products and recommend necessary changes.
  • Supervise the Bank’s flood insurance compliance program and support lending staff to ensure compliance with all flood regulations.
  • Review HMDA and other loan data to ensure accuracy and timely filing.
• Staff training:
  • Work with Human Resources to develop and implement internal training programs for regulatory compliance.
  • Design training materials, conduct or oversee training, and monitor results.
• Electronic banking and deposit compliance:
  • Oversee compliance with electronic banking and deposit account regulations.
  • Inform the Compliance Committee and management of issues; recommend corrective actions.
  • Assist Bank personnel with questions or problems concerning electronic transactions.
  • Monitor developments in consumer compliance and regulatory issues affecting electronic banking and deposit operations.
  • Recommend changes to ensure continued compliance and support implementation.
• Support Bank products/services:
  • Maintain knowledge of current Bank products and services.
  • Utilize Bank products and services to understand their features and benefits.
  • Communicate effectively with customers and prospective customers; respond to inquiries and evaluate needs.
• Community/public relations:
  • Actively participate in community organizations and events.
  • Represent the Bank in the community.
• Other outside activities:
  • Participate in industry trade group meetings and educational programs to stay current on issues affecting Bank operations.
• Management committees:
  • Prepare materials for and serve as Chair of the Compliance Committee.
• Other duties:
  • Demonstrate reliable attendance and punctuality.
  • Handle telephone inquiries professionally and courteously.
  • Attend and participate in Bank meetings as assigned.
  • Attend internal and external training to improve relevant skills and knowledge.
  • Understand and comply with the Bank’s Core Values.
  • Perform other duties as required.

Requirements

• 3-5 years’ experience working in a bank compliance department, including experience reading and understanding complex regulations and answering compliance questions.
• Demonstrated history of adaptability and responsiveness to changing needs of the department and the Bank.
• Experience partnering with business lines and other functional areas to support efficiency, consistency, and regulatory compliance.
• Working knowledge of the banking industry.
• Strong analytical and critical thinking skills.
• Experience with the Microsoft Office suite and ability to learn new applications and software.

Qualifications

• Must possess a valid driver’s license and a serviceable, properly registered automobile with proper liability insurance as required by state law.
• Must be able to lift files and other documents of approximately 20 pounds.
• Must be able to read and work with computer print-out reports.
• Must be able to stand or sit for extended periods while assisting customers.
• Must be able to spend extended periods operating a computer keyboard and working at a computer monitor.
• Must be able to use the telephone to converse with customers for extended periods; must communicate clearly and have good listening skills.
• Strong written communication skills, including letter and report-writing ability.
• Strong analytical and critical thinking skills.
• Ability to prioritize and organize workflow, handle multiple tasks, and pay attention to detail.
• Ability to think through problems and follow proper steps to find resolution.
• High degree of ethics and ability to maintain confidentiality of customers and accounts.
• Friendly, courteous, and sensitive to the needs of customers and coworkers.