Compliance Select is seeking experienced bank compliance and BSA professionals interested in working with community banks as a Digital Compliance Officer(DCO). DCO’s will partner with community banks to ensure compliance with banking regulations.  Individuals in this role will be responsible for conducting reviews in the area of compliance and BSA, make recommendations, provide reports, and perform daily/weekly/monthly tasks as required to comply with bank policy and regulatory requirements. This role will require direct contact with bank personnel, as well as bank senior management and the board of directors.

Compliance Select was created by bankers for bankers.  As passionate compliance and community bank advocates, the goal of Compliance Select is to connect bankers with experienced and reliable compliance professionals. 

Key Components of the Position May Include:

• Develop and implement compliance models as required for a bank to operate within acceptable standards.
• Collaborates and act as a liaison with Bank management to provide information to accurately determine compliance with all applicable regulations and laws.
• Develops, reviews, maintains, and revises policies and procedures related to the compliance and BSA function, as well as its activities to prevent illegal, unethical, or improper conduct.
• Stays abreast of changes in regulation, guidance, and best practices for both state and federal requirements.
• Monitor bank activities to ensure they are legal and in compliance with internal bank policies and external regulatory requirements.
• Provides guidance and assistance to bank management in coordinating and overseeing an effective Compliance Program in line with current industry best practices, regulatory guidance, and requirements.
• Initiate and/or recommend an investigative process in response to complaints of policy or procedural violation.
• Identify potential areas of compliance vulnerability and risk through analysis and assessment.
• Develop preventive/corrective strategies to address compliance issues and communicate to bank management.
• Prepares reports for Bank Management and Board of Directors regarding compliance and BSA.
• Develop compliance training programs, tools and resources as needed/requested.
• Review daily tasks and/or transactions to ensure compliance with applicable regulatory requirements.
• Managing various levels of service for multiple banks at one time as their assigned DCO.
• Stay abreast of BSA/AML/OFAC requirements and conduct activity monitoring to ensure compliance which may include working alerts, filing SARs, filing CTRs, 314(a) reporting, OFAC reporting, 314(b) if applicable, among various other tasks associated with BSA/AML/OFAC compliance.
• Serve as a banks Compliance Officer and/or BSA Officer, as well as in a support function depending on the bank contract.
• Act as a liaison during bank audits and exams, while ensuring tracking, monitoring and corrective action is taken as needed based on deficiencies and/or recommendations.
• Serve as Chair of the Compliance and/or BSA committee, as well as other applicable committees as advised by the bank.
• Develop, review and/or enhance Bank compliance policies and procedures, as needed/requested.
• Manages all aspects of CRA maintenance the CRA Public File, annual CRA Self-Assessment, and qualification of community development loans, servicing, and investments.
• Provides guidance and support with technical aspects of CRA and HMDA regulations including data collection, preparation, and submission of an accurate CRA and HMDA LAR.
• Manage all aspects of regulatory change management.
• Conduct, create and/or enhance compliance and BSA risk assessments.
• Maintains the banks Fair Lending Policy, program, and procedures to ensure current compliance with state and federal regulations/laws surrounding the Community Reinvestment Act (CRA), Home Mortgage Disclosure Act (HMDA), Unfair Deceptive or Abusive Acts or Practices (UDAAP) and fair lending.
• Regularly assess the efficiency of control systems and recommend effective improvements.
• Conduct reviews of advertising/marketing campaigns, policies, procedures, disclosure, notices, and a variety of other compliance-related documentation to ensure compliance with relevant requirements and best practices.
• Provides feedback during new/revised product, service, or market development to ensure compliance.
• Conducts risk-based compliance transaction testing and assesses internal controls, operations, and administrative functions for efficiency and effectiveness.
• Other duties as assigned.

Candidates should have held a compliance and BSA position in a financial institution, as well as have experience understanding regulatory requirements applicable to BSA, deposit and lending laws.

• Bachelor’s degree or commensurate work experience is required.
• Minimum of 4-10+ years of experience working in the compliance/BSA area;
• Extensive knowledge of banking regulatory compliance management system elements, with product advisory and/or monitoring experience desirable.
• Extensive knowledge of Bank Secrecy Act and Anti-money Laundering requirements, as well as OFAC requirements.
• Strong understanding and comprehension of deposit and lending laws.
• Strong interpersonal, communication (written and verbal), and organizational skills with the ability to work independently, as well as, collaboratively within a team environment.
• Ability to interact effectively with all levels of management, legal counsel, law enforcement, regulators and examiners while maintaining strict confidentiality.
• Knowledge of Federal, State, and municipal laws and statues as they apply to financial institutions.
• Strong research, project management, organizational, analytical, and problem resolution skills.
• Ability to work on their own.
• Excellent organizational and time management skills.

About Compliance Select

Our Mission: As passionate compliance and community bank advocates, the goal of Compliance Select is to connect bankers with experienced and reliable professionals. Compliance Select (CS) is a unique solution designed to offer compliance expertise tailored specifically to your bank's risk profile and needs. As compliance professionals and former bankers, we understand the growing regulatory burden, as well as the difficulties in finding and retaining experienced compliance professionals. That is why we set out to create a digital compliance program truly customized for your community bank. Each Compliance Select bank has a dedicated Digital Compliance Advisor, who oversees, manages, or supports their compliance/BSA program.

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