The Compliance Officer will develop relationships with bank departments and/or subsidiaries and advise on changes to statutes or regulations that affect their departments. Directs organizational policies and programs designed to ensure compliance with BSA, USA Patriot Act, AML and other regulations. Develops and implements strategies for minimizing loss or reducing risk. The Compliance Officer will also be a liaison with federal and state examiners and outside auditors to ensure compliance issues are adequately addressed.
Responsibilities and Duties:
- Reviewing and revising, as necessary, all bank, insurance and RIA compliance policies consistent with the compliance framework and compliance risk position
- Manages daily activities for monitoring customer accounts and researching transactions to identify suspicious activity in association with the Bank Secrecy Act (BSA), USA Patriot Act, and other Anti-Money Laundering (AML) regulations. Reporting regularly to the Audit committee on results, issues and upcoming items for discussion
- Monitoring, maintaining and developing compliance and CRA programs
- Promoting consistency of approach to compliance with US banking laws across all businesses by interfacing with the leadership and employees and providing ways to minimize the banks risk
- Develop and maintain processes to measure and report on the effectiveness of the banks compliance testing measures
- Creating and implementing a business strategy for improving compliance risk through monitoring trends, educating employees and designing controls
- Consult with management in the development of corporate policies and procedures to ensure compliance with relevant laws and regulations.
- Maintaining the policies and procedures for our SEC regulated business
- Working with auditors and examiners during regulatory compliance examinations
- Managing relationships internally and externally that will enhance knowledge
- Carries out assignments discreetly, effectively and efficiently in sensitive and confidential circumstances. Ensures continuing development of professional relationships with management and colleagues.
- Other duties as assigned.
Skills:
- Active Listening Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Speaking Talking to others to convey information effectively.
- Reading Comprehension Understanding written sentences and paragraphs in work related documents.
- Mathematics Using mathematics to solve problems.
- Critical Thinking Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Coordination/Cooperation Adjusting actions in relation to others actions. Ability to work with co-workers and other staff with tact and courtesy without compromising management.
- Judgment/ Decision Making Exhibits sound and accurate judgment; Supports and explains reasoning for decision; Makes timely decisions.
- Manage time effectively Focus on deadlines and prioritization.
- Excellent customer service and sales skills and ability to deal with clients, in varying situations, enthusiastically and professionally.
- Ability to work well in a team environment that promotes inclusiveness and communication among team members with a constructive, respectful attitude.
- Flexibility/Adaptability-Able to deal with constant change, delays, or unexpected events. Highly adaptable, positive, resilient, and open to new ideas. Able to effectively prioritize and juggle multiple concurrent projects.
Education and Experience Qualifications:
- Bachelors degree or higher in related field of study. Minimum 7 years relevant experience in complex banking environment. Management background and demonstrated leadership excellence required.
- Experience with external examinations for community banks required
- CAMS, CRCM or related certification preferred
- Functional knowledge of SEC regulations and compliance requirements desired