Position Summary

The Compliance Officer is responsible for developing, implementing, and maintaining the bank’s compliance program across Operational Compliance, Lending Compliance, and Community Reinvestment Act (CRA). This role ensures adherence to all applicable laws, regulations, and internal policies, while maintaining independence and providing direct access to senior leadership and the Board.

Reporting Structure

Primary Reporting: CEO / President

Secondary/Dotted Line Reporting: Board of Directors (Audit or Risk Committee)

Future Transition: May report to Chief Risk Officer when that position is established.

Key Responsibilities

• Develop and maintain compliance policies and procedures.
• Establish and conduct monitoring of compliance related activities.
• Monitor regulatory changes and implement necessary updates.
• Ensure bank practices comply with applicable regulations.
• Oversee BSA/AML compliance in coordination with designated officers.
• Monitor adherence to fair lending laws and regulations.
• Review loan documentation for compliance accuracy.
• Manage CRA program and reporting requirements.
• Coordinate CRA examinations and community outreach initiatives.
• Serve as primary contact for regulatory agencies.
• Prepare and submit required reports and responses.
• Develop compliance training for staff and management.
• Promote a culture of compliance across the organization.
• Provide monthly compliance dashboards to Executives.
• Deliver quarterly compliance reports to Audit Committee.
• Escalate material compliance breaches within 24 hours.
• Bachelor’s degree in Business, Finance, or related field (advanced degree preferred).
• Minimum 7 years of banking compliance experience.
• Strong knowledge of federal and state banking regulations.
• Excellent communication and leadership skills.
• Ability to work independently and maintain regulatory independence.
• Timely completion of compliance audits and reviews.
• Zero material compliance breaches unreported.
• Successful regulatory examinations with minimal findings.
• Completion of annual compliance risk assessment and training programs.

Qualifications

• Bachelor’s degree in Business, Finance, or related field (advanced degree preferred).
• Minimum 7 years of banking compliance experience.
• Strong knowledge of federal and state banking regulations.
• Excellent communication and leadership skills.
• Ability to work independently and maintain regulatory independence.

Performance Metrics

• Timely completion of compliance audits and reviews.
• Zero material compliance breaches unreported.
• Successful regulatory examinations with minimal findings.
• Completion of annual compliance risk assessment and training programs.