Position: VP – Risk Management / Compliance Officer
Position Status: Exempt Salaried
Reports To: Audit Committee Chair / Chief Credit Officer
Manage the Bank’s Enterprise Risk Management and overall compliance program, including monitoring the regulatory environment, implementing changes as required, and reviewing overall Bank’s adherence to established regulations, policies, and procedures.
Principal Duties and Responsibilities:
1. Oversee the Bank’s Enterprise Risk Management initiatives across the organization. Use various risk assessment methods, resources and tools to appropriately identify all areas of risk organizationally. Properly review, prioritize, monitor and audit areas depending upon risk parameters established by the Audit and/or Compliance Committee and Senior Management.
2. Coordinate with management and other compliance/audit personnel audit schedules and procedures to mitigate identified risk exposure and comply with regulations, policies, and procedures. If a third party is selected to conducts audits, assist in coordinating their audit process.
3. Monitor regulatory environment for potential changes and, with department managers, devise and implement strategies for the Bank to comply with the changes in an orderly and timely manner. Areas to be addressed include:
a. Required changes to policies or procedures
b. Required changes to disclosures
c. Identification of staff training needs and coordination of training activities
d. Follow-up to ensure all changes are working as intended
4. Leads / co-leads the Bank’s Compliance and Audit Personnel resources. Coordinates with department managers to establish strategies for correcting any deficiencies found during the monitoring or audit process.
6. Maintain comprehensive and up to date knowledge of banking regulations related to assigned job function. Complete and/or ensure all audit and security policies and procedures are followed in accordance with bank policies and Federal Regulation. Complete required compliance and job specific training.
7. Familiarity with and adherence to all Bank Secrecy Act requirements including the ability to identify and properly report fraudulent and suspicious loan activity. Assist BSA officer as needed in oversight and training.
8. Review product information, including legal documentation and disclosures, for compliance with various regulations. Evaluate and determine the impact of current and new legislative rules and regulations on the bank, it’s current / new products and projects.
9. Act as compliance resource for all Bank personnel, including maintaining database of answers to Frequently Asked Questions. Strong knowledge of loan documentation and deposit disclosure is required to assist in the review and correcting any deficiencies.
10. Active member of Bank’s M & A due diligence team and integration committee.
11. Review and finalize compliance items to be submitted to regulatory agencies or other entities by all required deadlines (e.g. HMDA reports, QAS reports, etc.)
12. Coordinate compliance exams with regulators. Work with senior management, department managers, and regulators before, during, and after exams as necessary. Coordinate any preliminary work, act as the primary contact during the audit process, and develop strategies for any corrections required.
13. Act as Bank CRA Officer.
14. Chair Compliance Committee and coordinate agenda. Present to Audit Committee results of Compliance Committee and related audits, policies, etc.
15. All other duties as requested.
Work Relationship and Scope:
Reports directly to the Audit Committee Chair / Chief Credit Officer. Has regular access to highly confidential customer and employee information.
Measures of Performance:
Quality, accuracy, reliability, friendliness, thoroughness and timeliness of services provided to internal and external customers; adherence to banking regulations and accepted audit procedures; ability to earn the trust and respect of co-workers; effectively communicates and develops good working relationships with customers and co-workers; exhibits professional workplace appearance and conduct; keeps Bank, customer, and employee information confidential; participates in training and appropriate professional development; understands and adheres to Bank policies and procedures.
Knowledge, Skills and Abilities Required:
- Undergraduate degree in Accounting, Finance, or Business or 7+ years related experience in a field requiring similar skills.
- At least 5+ years of progressive experience in Bank compliance and risk management
- Fundamental knowledge of Bank Regulations.
- Fundamental knowledge of various Bank functional areas (deposits, loans, operations, tellers, accounting, etc.) and ability to interact with others in an overall team approach.
- Ability to organize, prioritize, and monitor a variety of tasks.
- Ability to work independently.
- Strong written and oral communication skills.
Work is performed largely within the Bank. Work hours are generally during normal business hours but with both scheduled and unscheduled evening and weekend work as needed. Must be able to bend, twist, turn and lift/move up to 50 pounds.
Equal Employment Opportunity
It is the policy of Hometown Bank to provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to race, color, ethnicity, religion, gender, pregnancy/childbirth, age, national origin, sexual orientation, gender identity or expression, disability or perceived disability, genetic information, citizenship, veteran or military status, marital or domestic partner status, or any other category protected by federal, state and/or local laws.