The Compliance/CRA Officer is responsible for ensuring the bank operates in accordance with relevant laws, regulations, and internal policies, managing compliance risks, developing and enforcing policies, conducting reviews, and providing guidance to protect the bank from legal and reputational risks.
Essential Functions include the following. Other duties may be assigned.
Compliance:
1. Directs and manages the Regulatory Compliance Program of the Bank. Establishes responsibilities, training, plans of action and reporting to the Board and Management.
2. Develops and maintains an effective Compliance Program. Serves as the organization's Compliance Officer. Consults with and advises operating units and managers on all compliance related issues. Assures the development and maintenance of compliance policies and procedures throughout the organization. Coordinates directly with Regulatory Examiners for Consumer Compliance Examinations and is responsible for the resolution of findings. Recommends engagement of external compliance reviews if needed and is responsible for the resolution of findings.
3. Participates as Co-Chair of the Audit, Compliance & Risk Committee and maintains ongoing involvement in the review and dissemination of regulatory updates, and periodic compliance changes.
4. Coordinates the compliance-monitoring program. Assigns level of risk to individual areas to determine the level and frequency of training, testing and monitoring.
5. Recommends expansion of compliance policies as necessary. Oversees, and, in designated situations, performs the necessary testing to ensure compliance with bank and departmental policies and procedures.
6. Maintains inventory of current compliance laws, regulations as well as official commentaries/interpretations. Keeps up on regulatory and industry developments relative to compliance matters. Responsible for maintenance of Ncomply platform and using it as a tool for managing and tracking regulatory compliance bank wide.
7. Coordinates internal compliance reviews with the internal audit program. Monitors ongoing activities and operations compliance, reports findings to management and the Board of Directors (as applicable) and ensures that corrective action is taken as appropriate.
8. Ensures review and appropriate level of approval of compliance policies and procedures.
9. Takes direct responsibility for selected compliance regulations as necessary. Responsible for compliance tracking and monitoring including consumer complaints tracking and resolution; adverse action reviews, and Regulation O and other insider related regulatory requirements.
10. Evaluates the adequacy and effectiveness of the training program related to all compliance issues and assigns and tracks completion of appropriate training courses to all business units and employees based on job duties.
11. Reviews and approves all bank marketing material and programs for compliance with bank regulations and board policy.
12. Reviews all extension of credit to insiders.
13. Serves on the New Products/Services & Implementation Committee, and participates in the introduction and development of new products and services to ensure proper consideration of regulatory compliance through the process.
14. Provides exceptional guidance to internal staff and external customers by accurately and courteously addressing customer questions and processing customer requests.
15. Represents the bank in the local community through active participation in community organizations.
Community Reinvestment Act (CRA):
The CRA Officer is responsible for compliance with the regulations related to the Community Reinvestment Act for Small Intermediate Banks, and maintaining the Bank’s CRA rating as Satisfactory or better. Specific duties include:
1. Development of the annual CRA performance plan and oversight of the plan’s execution.
2. Community outreach and identification of CRA needs in the bank’s assessment areas.
3. Staying current with emerging CRA issues and regulatory guidance.
4. Development and coordination of training to officers and employees related to CRA related programs and qualifying loans and investments.
5. Maintenance and management of CRA tracking and reporting platform.
6. Ongoing monitoring and reporting of the Bank’s CRA performance and compliance standing.
7. Coordinates directly with Regulatory Examiners related to CRA Reviews.
Qualifications
Bachelor’s degree or at least five years previous bank compliance/CRA experience, or equivalent combination of training and experience. Previous experience with Compliance/CRA tracking platforms a plus.
Bank Of The Plains is an Equal Opportunity Employer
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