Farmers and Merchants Bank of Long Beach
Operations Legal Officer
Farmers and Merchants Bank of Long Beach, Seal Beach, California, United States, 90740
Job Summary
The Operations Legal Officer is responsible for assisting the Director of Operations with the management and governance of all legal and regulatory issues affecting bank operations. This includes providing support to branch and department personnel related to legal and regulatory matters, Bank wide initiatives, and operational policies and procedures. This position provides comprehensive answers and engages appropriate resources to ensure issues and concerns are resolved. This position is responsible for sustaining current knowledge regarding legislative and regulatory changes and assisting the responsible business unit with related implementations. The Operations Legal Officer has excellent communication skills, both written and verbal, projects a professional image, resolves issues, and identifies effective solutions.
The Operations Legal Officer will serve as the Bank’s Records Management Officer, California and Federal Right to Financial Privacy Officer, and the Bank’s Unclaimed Property Officer
Essential Duties
Key corporate responsibilities:
Stay current and provide guidance on legislative changes pertaining to deposit operations
Manages all requests for Bank records directed to the Bank by third parties and ensures compliance with all privacy laws
Primarily responsible for maintaining and revising the Bank’s Terms and Conditions for deposit accounts, ensuring the language is updated for changes in laws and regulations
Manages all IRS notifications ensuring compliance with various IRS regulations affecting deposit operations
Participates in the creation and review of client related forms, documents, and agreements ensuring legal requirements are met
Reviews, approves, and manages Deposit Account Control Agreements presented by the Bank’s clients
Integrates process improvements within the Operations Legal Department in line with the Bank’s strategic goals
Key Operations Administration responsibilities:
Maintains governance over operational procedures performed in compliance with banking regulations, including Regulation CC application, Regulation D offender reporting, and Unclaimed Property
Works with other business units, such as BSA, Compliance, TMS, Branch Banking, ACH, Central Operations, and Wires, to assist in operational and regulatory issues, including:
General branch operations issues
BSA/AML issues and concerns
Regulation E issues and claims
Electronic transaction disputes and claims
Relationship exits
Deposit account restrictions
Money Transfer Service Agreements
Early Withdrawal Penalties
Serves as the Director of Operations’ back up for the BSA and Compliance committees
Assists the Director of Operations on policy waivers related to ACH, CMS, and Account Analysis
Reviews and creates Bank disclosures and agreements, and engages the Compliance Department as needed
Approves changes to deposit account disclosures and addenda
The Operations Legal Officer is Operations Administration’s designated subject matter expert to assist the branches and other business units on escalated issues related to the following:
Death of Depositor/Legal Entitlement
Trusts
Power of Attorney
IRS matters
Bankruptcy
IRA’s
Third-Party/Multi-Party Checks
Participates in investigations related to fraud and disputes, and work with law enforcement as needed
Participates in the Bank’s initiatives related to the Americans with Disabilities Act (ADA) and the California Unruh Civil Rights Act
Reviews and approves policy exception requests submitted to Operations Administration
Leads or supports major bank-wide projects and initiatives that are regulatory in nature or are related to records retention and management
Identifies area of risk exposure and reports and make recommendations to Senior Management for changes
Drafts customer communication on behalf of the Bank and its officers
Provides support to branch and department staff
Complies with all State and Federal Banking regulatory requirements, including but not limited to: BSA, Anti-Money Laundering OFAC, CIP, Financial Elder Abuse Reporting, Sexual Harassment, Information Security and privacy requirements. This position will elevate suspicious activity to supervisory staff and/or BSA department. Completes compliance and other technical training workshops as assigned.
Officer Title Eligibility
For qualified positions, the Bank may designate an Officer Title to an employee who seeks and/or meets defined competencies for an eligible position. This position qualifies for the officer title(s) Assistant Vice President, Vice President.
Non-Essential Duties
Proactively pursues professional development activities (e.g. participating in internal and external training workshops)
General administrative and clerical duties as needed
Assist in the department Tour of Duty; conduct training and provide feedback to the participants
Required Knowledge
Bank Protection Act
Operational Policies and Procedures
Bank Secrecy Act
Privacy Act
Bank systems, specifically Bank’s core application
Products & Services
Branch Operations (Teller, New Accounts, and Operations)
Regulations CC, D, DD, and E
Fair Credit Reporting Act Overview
Safe Deposit Box Procedures
FDIC Insurance
Unclaimed Property Law and Regulations
New Account Policies and Procedures
Knowledge, Skills and Abilities
Ability to prioritize and work with tight deadlines
Strong critical thinking and judgment
Ability to work independently
Excellent oral and written communication skills
Assess situations and provide guidance
Uses discretion with sensitive material
Client service skills
Working knowledge of Microsoft applications
Excellent analytical and organizational skills
Working knowledge of operational systems
Excellent attention to detail
Excellent time management skills with a proven ability to meet deadlines
Equipment Operated
Desktop Computers
Document Imaging System (Laserfiche)
Standard Office Equipment (copiers, fax machines, telephones)
Physical Requirements & Work Environment
Requires repetitive movement
Requires standing and/or sitting for prolonged periods of time
Requires viewing of computer monitors for prolonged periods of time
Requires lifting up to 25 lb.
Requires using hands to handle, control, or feel objects
Office setting w/controlled temperature
Travel
Travel to attend offsite trainings, meetings, court appearances, and depositions may be required.
Education and Experience
Associate or Bachelor’s degree in Paralegal studies or related field preferred
Paralegal certificate required
5+ years general banking experience
As a part of the Bank’s internal control systems, employees holding sensitive positions are required to be absent from their duties for a minimum of two consecutive weeks each year. This position has been deemed to meet the test for a sensitive position, and therefore you will be required to meet the minimum absence requirement each and every year.
This job description is not intended to be all-inclusive, and employees will be required to perform additional related work duties as assigned by their immediate supervisor and/or management.
Farmers and Merchants Bank of Long Beach reserves the right to revise or change job duties and responsibilities as the need arises. This job description does not constitute a written or implied contract of employment.
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The Operations Legal Officer is responsible for assisting the Director of Operations with the management and governance of all legal and regulatory issues affecting bank operations. This includes providing support to branch and department personnel related to legal and regulatory matters, Bank wide initiatives, and operational policies and procedures. This position provides comprehensive answers and engages appropriate resources to ensure issues and concerns are resolved. This position is responsible for sustaining current knowledge regarding legislative and regulatory changes and assisting the responsible business unit with related implementations. The Operations Legal Officer has excellent communication skills, both written and verbal, projects a professional image, resolves issues, and identifies effective solutions.
The Operations Legal Officer will serve as the Bank’s Records Management Officer, California and Federal Right to Financial Privacy Officer, and the Bank’s Unclaimed Property Officer
Essential Duties
Key corporate responsibilities:
Stay current and provide guidance on legislative changes pertaining to deposit operations
Manages all requests for Bank records directed to the Bank by third parties and ensures compliance with all privacy laws
Primarily responsible for maintaining and revising the Bank’s Terms and Conditions for deposit accounts, ensuring the language is updated for changes in laws and regulations
Manages all IRS notifications ensuring compliance with various IRS regulations affecting deposit operations
Participates in the creation and review of client related forms, documents, and agreements ensuring legal requirements are met
Reviews, approves, and manages Deposit Account Control Agreements presented by the Bank’s clients
Integrates process improvements within the Operations Legal Department in line with the Bank’s strategic goals
Key Operations Administration responsibilities:
Maintains governance over operational procedures performed in compliance with banking regulations, including Regulation CC application, Regulation D offender reporting, and Unclaimed Property
Works with other business units, such as BSA, Compliance, TMS, Branch Banking, ACH, Central Operations, and Wires, to assist in operational and regulatory issues, including:
General branch operations issues
BSA/AML issues and concerns
Regulation E issues and claims
Electronic transaction disputes and claims
Relationship exits
Deposit account restrictions
Money Transfer Service Agreements
Early Withdrawal Penalties
Serves as the Director of Operations’ back up for the BSA and Compliance committees
Assists the Director of Operations on policy waivers related to ACH, CMS, and Account Analysis
Reviews and creates Bank disclosures and agreements, and engages the Compliance Department as needed
Approves changes to deposit account disclosures and addenda
The Operations Legal Officer is Operations Administration’s designated subject matter expert to assist the branches and other business units on escalated issues related to the following:
Death of Depositor/Legal Entitlement
Trusts
Power of Attorney
IRS matters
Bankruptcy
IRA’s
Third-Party/Multi-Party Checks
Participates in investigations related to fraud and disputes, and work with law enforcement as needed
Participates in the Bank’s initiatives related to the Americans with Disabilities Act (ADA) and the California Unruh Civil Rights Act
Reviews and approves policy exception requests submitted to Operations Administration
Leads or supports major bank-wide projects and initiatives that are regulatory in nature or are related to records retention and management
Identifies area of risk exposure and reports and make recommendations to Senior Management for changes
Drafts customer communication on behalf of the Bank and its officers
Provides support to branch and department staff
Complies with all State and Federal Banking regulatory requirements, including but not limited to: BSA, Anti-Money Laundering OFAC, CIP, Financial Elder Abuse Reporting, Sexual Harassment, Information Security and privacy requirements. This position will elevate suspicious activity to supervisory staff and/or BSA department. Completes compliance and other technical training workshops as assigned.
Officer Title Eligibility
For qualified positions, the Bank may designate an Officer Title to an employee who seeks and/or meets defined competencies for an eligible position. This position qualifies for the officer title(s) Assistant Vice President, Vice President.
Non-Essential Duties
Proactively pursues professional development activities (e.g. participating in internal and external training workshops)
General administrative and clerical duties as needed
Assist in the department Tour of Duty; conduct training and provide feedback to the participants
Required Knowledge
Bank Protection Act
Operational Policies and Procedures
Bank Secrecy Act
Privacy Act
Bank systems, specifically Bank’s core application
Products & Services
Branch Operations (Teller, New Accounts, and Operations)
Regulations CC, D, DD, and E
Fair Credit Reporting Act Overview
Safe Deposit Box Procedures
FDIC Insurance
Unclaimed Property Law and Regulations
New Account Policies and Procedures
Knowledge, Skills and Abilities
Ability to prioritize and work with tight deadlines
Strong critical thinking and judgment
Ability to work independently
Excellent oral and written communication skills
Assess situations and provide guidance
Uses discretion with sensitive material
Client service skills
Working knowledge of Microsoft applications
Excellent analytical and organizational skills
Working knowledge of operational systems
Excellent attention to detail
Excellent time management skills with a proven ability to meet deadlines
Equipment Operated
Desktop Computers
Document Imaging System (Laserfiche)
Standard Office Equipment (copiers, fax machines, telephones)
Physical Requirements & Work Environment
Requires repetitive movement
Requires standing and/or sitting for prolonged periods of time
Requires viewing of computer monitors for prolonged periods of time
Requires lifting up to 25 lb.
Requires using hands to handle, control, or feel objects
Office setting w/controlled temperature
Travel
Travel to attend offsite trainings, meetings, court appearances, and depositions may be required.
Education and Experience
Associate or Bachelor’s degree in Paralegal studies or related field preferred
Paralegal certificate required
5+ years general banking experience
As a part of the Bank’s internal control systems, employees holding sensitive positions are required to be absent from their duties for a minimum of two consecutive weeks each year. This position has been deemed to meet the test for a sensitive position, and therefore you will be required to meet the minimum absence requirement each and every year.
This job description is not intended to be all-inclusive, and employees will be required to perform additional related work duties as assigned by their immediate supervisor and/or management.
Farmers and Merchants Bank of Long Beach reserves the right to revise or change job duties and responsibilities as the need arises. This job description does not constitute a written or implied contract of employment.
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