Chief Compliance and BSA Officer
Responsible for establishing and maintaining ongoing compliance program, due diligence, transaction monitoring, internal controls and training. Oversee and ensure processes and procedures adhere to regulatory standards. Also oversees the BSA department.
Principal Duties and Responsibilities
Oversee the Corporate Compliance Program, conduct legal, transactional and compliance related research and advise management and staff on legal, compliance, business and transactional requirements; assess legal and business risks and identify risk mitigation options. Participate in product development and develop and maintain subject matter expertise for legal and compliance requirements.
Update and review bank policies and procedures based on regulatory changes, internal audits, and examinations by regulatory agencies. Implement new regulations or revisions to existing regulations.
Maintain compliance training programs and conduct bank wide employee/director compliance training.
Act as liaison between the bank and the regulators as well as with the Internal Auditors.
Monitor Internal Audit reviews and report findings and the corrective action taken by Management to the Board and the Audit Committee.
Supervise all appropriate areas of the Bank to determine the degree of compliance with various consumer laws.
Review and understand the risk assessment processes performed by BSA to identify and measure the BSA/AML and OFAC risks associated with products and services offered by the company; provide insight and periodic feedback to future assessment models.
Report actual or possible violations and any needed corrective action, from internal reviews, to the Audit Committee Chairman as well as to the Board of Directors and the managers of the area under review.
Additional Duties and Responsibilities / Projects
Maintain required annual external continuing professional education requirements.
Bachelor’s degree in related field; Master’s degree preferred
Minimum of 10 years proven and progressive experience in financial services with a BSA/AML focus.
Strong analytical skills required to organize and analyze multiple, complex data sets as well as strong interpersonal, organizational, communication and creative thinking skills.
Strong people and presentation skills.
Significant background in compliance of federal and state financial institution regulations or audit of financial institutions.
CAMS certification preferred.