VP of Compliance and Risk

About the role

State Bank of Texas is a privately owned, independent bank specializing in lending solutions for the hospitality industry. The bank is committed to providing personal partnerships with customers, timely loan decisions, and convenient, up-to-date technology.

This officer position, designated by the Board of Directors, is responsible for the overall BSA and compliance risk management process for the organization. The role ensures technical advice and guidance to bank management and staff aligns with business objectives and compliance goals, directs compliance staff in identifying, measuring, and monitoring compliance risks, and handles board reporting and interaction with external regulatory agencies.

Responsibilities

• Develop and implement a risk-focused compliance program that effectively manages the various areas of compliance throughout the bank.
• Assist in development and review of the Bank's policies and procedures to ensure proper administration for compliance with applicable laws and regulations.
• Maintain current knowledge of BSA, AML, and OFAC regulations and all bank-related compliance regulations.
• Use monitoring application systems, maintain investigation files, and conduct periodic assessments of departments for compliance.
• Work with BSA Officer to prepare BSA/AML Risk Assessment by identifying the bank's risk profile, analyzing information to assess risks, and mitigating gaps in controls.
• Interpret regulations to implement new and revised regulatory requirements.
• Assign and monitor annual BSA training and all other compliance training to Board and employees, as well as all applicable federal and state laws and regulations.
• Coordinate with regulatory agency examiners and independent auditors during examinations; recommend and assist with corrective action as necessary.
• Monitor effectiveness of Identity Theft Program and provide updates to Board of Directors.
• Monitor all bank regulations and create/change policies for new or updated regulations.
• Test compliance-related procedures throughout the bank to ensure their effectiveness.
• Monitor changes to all disclosures for compliance with Federal and State regulations.
• Review product and service disclosures and advertising materials for compliance with applicable rules.
• Prepare and present periodic reports to the board concerning the bank's current record of compliance as determined through test work.
• Maintain compliance resources; collect and disseminate compliance-related information to appropriate staff; provide informational assistance and research for all bank personnel.
• Investigate, aid in resolution when necessary, and report consumer complaints, tracking for trends.
• Manage/supervise compliance and BSA personnel, and risk management personnel if applicable.
• Stay abreast of changes in regulations, analyze effects on bank operations, and ensure proper adherence by policy or procedure implementation.
• Perform other duties as assigned by supervisor and/or management.
• Comply with all federal, state, and company policies, procedures, laws, and regulations.
• Adhere to all relevant security responsibilities as outlined in the Bank's Information Security Program and Written Security Program.

Qualifications

• Bachelor's degree required.
• CRCM and/or CAMS certification preferred.
• 7 to 10 years' experience in banking with 3 to 5 years compliance experience.
• Experience with industry-related systems/software.
• Experience with high-risk money services business (MSB) accounts required.
• Strong knowledge of BSA/AML regulations required.