VP, Compliance Officer
Department: Risk Management
Reports to: SVP/ Chief Risk Officer
Supervises: BSA/Security Officer
Level: Level 5
Location: Sanford, Maine – Hybrid
Partners Bank is a rapidly growing community bank with operations in Maine and New Hampshire that has established superior service level expectations. We offer generous compensation and benefits while fostering opportunities for growth and flexible work schedules when appropriate. We look forward to having you join our team!
The Compliance Officer oversees compliance with laws and regulations, as well as serves as the Bank’s, Reg. O, and Red Flag/Identity Theft Officer. Currently this position oversees the Bank Security program along with the BSA/AML program.
- Bachelor’s degree or equivalent experience
- 10+ years of relevant work experience
- Certification in compliance preferred
- Extensive knowledge of all financial institution policies and procedures
- Ability to read, analyze and interpret government regulations, trade journals and legal documents. Must be able to respond to common inquiries from business units, regulatory agencies, courts and outside consultants
- Strong written and verbal communication skills
- Superior communication and negotiation skills to communicate across a broad base of internal customers
- Strong Leadership and Management skills
- Experience presenting to Senior Management and the Board
- Knowledge of risk management and risk assessment processes
Specific Job Functions:
- Develops, administers and monitors programs that ensure the Financial Institution’s compliance with laws, regulations and rules governing operations and product offerings.
- Develops and delivers compliance training to bank employees and directors as needed.
- Researches and analyzes federal and state banking laws and regulations, reviews the Financial Institution’s policies and procedures, and ensures Financial Institution compliance with laws and regulations.
- Ensures that all written procedures contain a component for departmental monitoring of processes and that all monitoring activity is reported to the Compliance Department.
- Provides Chief Risk Officer with information to accurately determine the Institution’s extent of compliance. Schedules meetings with departments and supervisors, as necessary, to provide information on compliance changes that affect them.
- Chairs the Bank’s Compliance Committee.
- Assists with scheduling compliance, internal audit and regulatory reviews and report findings to the Chief Risk Officer.
- Promotes and enhances the corporate culture and fosters the development and implementation or organizational vision, policies and guidelines.
- Builds constructive and effective relationships to support a collaborative working environment.
- Assist with interviews and investigates of all internal and external fraud complaints.
- Participates in the annual enterprise-wide risk assessment processes.
- Maintain and update compliance risk assessments.
- Maintain database of compliance, audit and self ID issues.
- Maintains the Compliance Management System to regulatory standards and expectations.
- Assists with the development of 1st, 2nd and of 3rd lines of defense processes within the bank including consolidation of reporting of such findings / results.
- Acts as a back up to the CRO with management of 3rd lines of defense (internal audit, compliance reviews, IT audits and loan reviews).
- Oversees the 3rd party firm that completes residential loan quality control.
- Manages the Bank’s response to complaints regarding consumer compliance and other issues.
- Exercises the usual authority of a manager concerning performance improvement plans, performance reviews, promotions, salary recommendations, terminations and timecard review for hourly employees. Coaches, develops and inspires staff to maximize their potential.
- Other duties as assigned
This Job Description describes the essential functions and qualifications of the job described. It is not an exhaustive statement of all the duties, responsibilities or qualifications of the job. This document is not intended to exclude modifications consistent with providing reasonable accommodations for a disability. This is not a contract.