The client is seeking a Chief Compliance Officer to plan, organize, and control the bank’s day-to-day administrative, lending, and operational compliance activities. The role participates in committees, audits, and examinations, and serves in key compliance officer capacities, including Bank Secrecy Act/OFAC, Community Reinvestment Act (CRA), and Privacy. The Chief Compliance Officer develops, implements, and administers the Compliance Management Program, chairs the Compliance Committee, and reviews and writes compliance-related policies and procedures. The position supports independent and regulator auditor inquiries and makes recommendations to the Board of Directors and senior management, including submitting annual compliance reports to the Board.
The Chief Compliance Officer maintains current knowledge of applicable banking rules and regulations and oversees quality control reviews and monitoring for areas such as Bank Secrecy Act, USA Patriot Act, anti-money laundering, OFAC, and the Customer Identification Program. The role also ensures CRA-related responsibilities are met by establishing and maintaining relationships with community-based organizations, developing and implementing programs to support community needs, and helping the bank attain CRA compliance goals. In addition, the position identifies and mitigates potential compliance risk issues by interacting with bank personnel, and verifies the accuracy of APY and APR calculations used for system, disclosure, and advertising purposes.
The Chief Compliance Officer oversees self-testing, independent third-party, and regulatory audits, preparing for exams, coordinating responses to external auditors and examiners, and ensuring identified deficiencies are corrected. The role develops and administers appropriate forms to ensure the use of correct and updated materials, ensures timely distribution of compliance-related publications to designated personnel, and conducts compliance training and exercises for all bank personnel, including during new hire orientation. The Chief Compliance Officer follows established policies and procedures, completes administrative tasks accurately and on time, applies sound decision-making within approval limits, and assumes responsibility for special projects by gathering data and preparing reports for senior management and other stakeholders. The role requires a bachelor’s degree from an accredited college.