Compliance Officer

Description

POSITION SUMMARY:  This position is responsible for running the Bank's comprehensive regulatory compliance program; for formulating recommendations and following through on implementation; for reviewing Bank activities and processes and reporting status and findings; for collaborating with all areas of the Bank to ensure compliance with state and federal law.

KEY RESPONSIBILITIES:

Consumer compliance program: Handle day-to-day operation of the Bank's Compliance Program; conduct ongoing internal compliance reviews and monitoring, and act as the Chair of the Bank's Compliance Committee. Report to the Compliance Committee and Regulatory Counsel on the status and findings of compliance reviews and monitoring; support and monitor implementation of remedial actions and recommendations to improve controls and outcomes. 

Stay up-to-date on consumer compliance regulations affecting the Bank and work with business lines to ensure the appropriate changes in policy/procedures, forms, signage, and staff training are implemented in a timely fashion in response to changes. Work with business lines to ensure new products, processes, and services comply with applicable rules and regulations. Review and approve advertisements, disclosures, and other Bank materials as needed.

Comply with all applicable Federal and State banking regulations and all Bank operating policies and procedures.

Meet or exceed performance standards and objectives established for compliance officer performance.

Loan compliance: Oversee the Bank's regulatory compliance for all lending programs, including residential, consumer, and commercial lending activities. Ensure compliance with all pertinent lending regulations including:

• Prohibition   against Unfair, Deceptive, and Abusive Acts or Practices
•  Flood Disaster   Protection Act
•  Homeowner's   Protection Act 
•  Regulation B (Equal Credit Opportunity Act)
•  Homeownership   Counseling Act 
•  Regulation Z (Truth in Lending Act) 
•  Fair Housing Act
•  Real Estate   Settlement Procedures Act (RESPA)

Notify the Compliance Committee and other management as appropriate of any violations or negative trends in the loan compliance area; support business line implementation of corrective action as approved.

Monitor regulatory and other legal changes affecting loan products and recommend changes as necessary to ensure continued Bank compliance; implement as approved.

Supervise the Bank’s flood insurance compliance program and support lending staff to ensure compliance with all flood regulations. Review HMDA and other loan data as needed to ensure accuracy and timely filing of the required data.

Staff training: Work with the Human Resources department to develop and implement internal training programs for all staff members for regulatory compliance. Design training materials as needed by business lines, conduct or oversee training and monitor results.

Electronic banking and deposit compliance: 

Oversee the Bank’s compliance with electronic banking and other regulations governing deposit accounts to ensure ongoing compliance with applicable regulations and requirements. Inform the Compliance Committee and other management as appropriate of problems as appropriate; recommend action as necessary to correct problems or comply with new or updated regulations; oversee implementation as approved.

Assist Bank personnel with questions or problems concerning electronic transactions. Monitor developments in consumer compliance and other regulatory issues affecting the electronic banking and deposit operations. Recommend changes as necessary to ensure continued Bank compliance and support business line implementation as needed.

Support Bank products/services: Maintain knowledge of current KSB products and services. Actively utilize as many Bank products and services as possible in order to fully understand their features and benefits and to be able to communicate effectively with customers and prospective customers.

Talk to internal and external customers and listen for “cues and clues” to determine needs; respond to customer inquiries and evaluate their needs; make referrals to other Bank personnel as appropriate. 

Community/public relations: Actively participate in community organizations and events. Represent the Bank in the community.

Other outside activities: Actively participate in industry trade group meetings and educational programs to remain abreast of current issues and requirements affecting Bank operations and job performance.

Management committees: Prepare materials for and serve as Chair of the Compliance Committee. 

Other duties: Demonstrate reliable attendance and punctuality. Handle telephone inquiries and provide information to customers, vendors, and Bank staff in a professional and courteous manner. Attend and participate in Bank meetings as assigned. Attend internal and external training to improve skills and knowledge relevant to the Compliance Specialist Position

Understand and fully comply with Kennebec Savings Bank’s Core Values.

Perform other duties as required. 

POSITIONS REPORTING TO THIS POSITION:

•  None

Requirements

EDUCATION/EXPERIENCE REQUIRED:

•  3-5 years’ experience working in a bank compliance department, including experience reading and understanding complex regulations and answering compliance questions
•  Demonstrated history of being adaptable and responsive to changing needs of the department and the Bank
•  Demonstrated experience partnering with business lines and other functional areas to support efficiency, consistency, and regulatory compliance
•  Working knowledge of the banking industry 
•  Experience utilizing strong analytical and critical thinking skills 
•  Experience with the Microsoft Office suite and ability to learn new applications and software

OTHER REQUIREMENTS:

•  Must possess a valid driver’s license, the use of a serviceable automobile that is properly registered and proper liability automobile insurance as required by state law.
•  Must be able to lift files and other documents of approximately 20 pounds.
•  Must be able to read and work with computer print-out reports.
•  Must be able to stand or sit for extended periods of time while waiting on customers.
•  Must be able to spend extended periods of time operating a computer keyboard and working at a computer monitor.
•  Must be able use the telephone to converse with customers for extended periods of time; must be able to communicate clearly by telephone; must have good listening ability and skills.
•  Must have strong written communications skills, including letter and report-writing ability.
•  Must have strong analytical and critical thinking skills.
•  Must be able to prioritize and organize work flow; must have good attention to detail; must be able to handle multiple jobs.
•  Must have the ability to think through a problem, following proper steps in finding resolution.
•  Must have a high degree of ethics and maintain confidentiality of customers and accounts.
•  Must be friendly, courteous and sensitive to the needs of customers and coworkers.

Salary Range: Compensation for this position is based on knowledge, skills, experience, and demonstrated competency within the role.

Developing - Minimum: $63,066

Proficient - Midpoint: $86,399

Exceptional - Maximum: $109,734