Central Bancompany
Compliance Officer
Central Bancompany, Sioux Falls, South Dakota, United States, 57102
Job Type
Full-time
Description
POSITION SUMMARY
The Compliance Officer, along with the Bank's established Compliance Committee is responsible for the development and ongoing implementation of compliance policies, assessments, collaborations, training, and audits for the bank, while also, providing ongoing review and follow through of bank activities to ensure compliance with regulatory requirements.
The Compliance Officer will also assist with maintaining regulatory relationships and preparing for regulatory reviews and preparing for internal and external audits.
ESSENTIAL DUTIES AND RESPONSIBILITIES
The essential functions include, but are not limited to the following:
Assessments & Audits 40%
Conduct periodic internal reviews or audits to ensure compliance procedures are followed. Monitor compliance systems to ensure their effectiveness. Identify compliance issues that require follow-up or investigation. Review all aspects of products offered by the bank to ensure regulatory compliance and compliance with internal standards and procedures. Assist in preparing reports to bank management on findings of compliance reviews. Collaboration 25%
Serve as a confidential point of contact for employees to communicate with to seek clarification on issues or dilemmas, or report irregularities. Discuss emerging compliance issues with compliance committee, management, or employees. Support branches and operations areas regarding compliance, legal, and regulatory questions. Policies, Programs, & Procedures 20%
With Compliance Committee, disseminate written policies and procedures related to compliance activities. Verify all bank and regulatory policies and procedures have been documented, implemented, and communicated. Advise internal management or business partners on the implementation or operation of compliance programs. Design or implement improvements in communication, monitoring, or enforcement of compliance standards. Review communications such as advertising and marketing of all bank's products to ensure there are no violations of standards or regulations. Verify software technology is in place to adequately provide oversight and monitoring in all required areas. Support the ongoing development and implementation of the Bank's BSA, CRA program, HMDA reporting and all other areas of compliance. Articulate specific requirements based on regulatory requirements and general direction set by the Audit Committee. Other 10%
Maintain documentation of compliance activities, such as complaints received or investigation outcomes. File appropriate compliance reports with regulatory agencies. Consult with Corporate Attorney as necessary to address difficult legal compliance issues. Report violations of compliance or regulatory standards to duly authorized enforcement agencies as appropriate or required. Ensure all required reports are accurate and reported to the Board of Directors, as needed. Training 5%
Keep compliance committee and self-informed regarding pending industry changes, trends, and best practices and assess the potential impact of these changes on organizational processes. Identify and analyze new developments in banking laws and communicate those developments to operating areas and management of the Bank. Support activities to modify compliance and operating policies in accordance with legal and regulatory changes. Responsible for attending training seminars and conferences in order to keep up with the changing regulations. Provide employee training on compliance related topics, policies, or procedures. Perform all other duties as assigned. Requirements
EDUCATION & EXPERIENCE
Bachelor's degree required or equivalent work experience Minimum of five (5) years of experience in similar job duties CRCM designation preferred
Full-time
Description
POSITION SUMMARY
The Compliance Officer, along with the Bank's established Compliance Committee is responsible for the development and ongoing implementation of compliance policies, assessments, collaborations, training, and audits for the bank, while also, providing ongoing review and follow through of bank activities to ensure compliance with regulatory requirements.
The Compliance Officer will also assist with maintaining regulatory relationships and preparing for regulatory reviews and preparing for internal and external audits.
ESSENTIAL DUTIES AND RESPONSIBILITIES
The essential functions include, but are not limited to the following:
Assessments & Audits 40%
Conduct periodic internal reviews or audits to ensure compliance procedures are followed. Monitor compliance systems to ensure their effectiveness. Identify compliance issues that require follow-up or investigation. Review all aspects of products offered by the bank to ensure regulatory compliance and compliance with internal standards and procedures. Assist in preparing reports to bank management on findings of compliance reviews. Collaboration 25%
Serve as a confidential point of contact for employees to communicate with to seek clarification on issues or dilemmas, or report irregularities. Discuss emerging compliance issues with compliance committee, management, or employees. Support branches and operations areas regarding compliance, legal, and regulatory questions. Policies, Programs, & Procedures 20%
With Compliance Committee, disseminate written policies and procedures related to compliance activities. Verify all bank and regulatory policies and procedures have been documented, implemented, and communicated. Advise internal management or business partners on the implementation or operation of compliance programs. Design or implement improvements in communication, monitoring, or enforcement of compliance standards. Review communications such as advertising and marketing of all bank's products to ensure there are no violations of standards or regulations. Verify software technology is in place to adequately provide oversight and monitoring in all required areas. Support the ongoing development and implementation of the Bank's BSA, CRA program, HMDA reporting and all other areas of compliance. Articulate specific requirements based on regulatory requirements and general direction set by the Audit Committee. Other 10%
Maintain documentation of compliance activities, such as complaints received or investigation outcomes. File appropriate compliance reports with regulatory agencies. Consult with Corporate Attorney as necessary to address difficult legal compliance issues. Report violations of compliance or regulatory standards to duly authorized enforcement agencies as appropriate or required. Ensure all required reports are accurate and reported to the Board of Directors, as needed. Training 5%
Keep compliance committee and self-informed regarding pending industry changes, trends, and best practices and assess the potential impact of these changes on organizational processes. Identify and analyze new developments in banking laws and communicate those developments to operating areas and management of the Bank. Support activities to modify compliance and operating policies in accordance with legal and regulatory changes. Responsible for attending training seminars and conferences in order to keep up with the changing regulations. Provide employee training on compliance related topics, policies, or procedures. Perform all other duties as assigned. Requirements
EDUCATION & EXPERIENCE
Bachelor's degree required or equivalent work experience Minimum of five (5) years of experience in similar job duties CRCM designation preferred