Chief Compliance Officer

Liberty Bank - CT•Middletown, CT

39d•$195,000 - $255,000

About The Position

The Chief Compliance Officer (CCO) provides strategic leadership for the Bank’s enterprise-wide Compliance Management System (CMS), ensuring that operations comply with applicable federal and state laws, regulations, supervisory guidance, and industry standards. The CCO supports the Bank’s mission, values, growth objectives, and commitment to customers and communities, and serves as a trusted advisor to executive management and the Joint Board Risk Committee on regulatory compliance matters. The role also maintains relationships with banking regulatory agencies and partners with business lines to identify, assess, monitor, and mitigate compliance risk while promoting a strong culture of compliance. The CCO leads compliance governance, risk assessment, monitoring, regulatory change management, consumer compliance, fair banking, training, third-party oversight, and issue remediation. The role chairs the Compliance Committee, coordinates regulatory examinations and inquiries, and reports to executive management and the Joint Board Risk Committee. The CCO leads and develops compliance professionals and manages the department’s budget, staffing, technology, and vendor relationships.

Requirements

Bachelor’s degree required.
Minimum 15 years of progressively responsible experience in regulatory compliance, risk management, legal, or governance functions within the banking industry.
Minimum 7 years in a senior compliance leadership role.
Demonstrated experience working directly with federal and state banking regulators.
General office equipment use, keyboard dexterity, and prolonged sitting are required.

Nice To Haves

Advanced degree (JD or MBA).
Professional certifications, including CRCM, CAMS, CAFP, CIA, or other relevant certifications.
Experience within a bank or bank holding company with assets between $10 billion and $50 billion.
Experience with mutual bank governance structure.

Responsibilities

Lead and maintain the Bank’s enterprise Compliance Management System (CMS).
Establish compliance strategy, policies, procedures, governance structures, and risk assessment methodologies.
Partner with Legal to interpret regulatory developments and assess their impact on the Bank.
Ensure timely implementation of new or amended laws, regulations, and supervisory guidance through regulatory change management processes.
Report regularly to executive management and the Joint Board Risk Committee.
Provide compliance training and education to Directors and senior management.
Serve as the primary compliance liaison with regulatory agencies, including the Connecticut Department of Banking, FDIC, Federal Reserve, Consumer Financial Protection Bureau, FinCEN, and other governmental agencies.
Coordinate and oversee compliance-related examinations, inquiries, and responses.
Ensure effective remediation of regulatory findings and commitments.
Chair the Compliance Committee and conduct enterprise-wide compliance risk assessments.
Oversee complaint management processes for regulatory exposure and develop risk-based compliance monitoring plans.
Escalate significant compliance concerns to executive management and the Board.
Oversee compliance with applicable federal and state consumer protection laws and regulations, including TILA, RESPA, FCRA, ECOA, FHA, CRA, and GLBA.
Oversee Fair Lending, Fair Banking, and UDAAP programs, and monitor for discriminatory practices and disparate-impact risks.
Develop and maintain enterprise compliance training programs for employees, officers, and directors, and promote awareness of compliance responsibilities.
Participate in reviews of new products, services, and delivery channels and oversee time-sensitive compliance reviews of marketing materials.
Evaluate compliance implications of strategic initiatives and partnerships and provide compliance oversight for significant third-party, fintech, and vendor relationships.
Track and ensure timely remediation of findings identified through regulatory examinations, internal audits, monitoring activities, and self-identification processes.
Lead and develop a team of compliance professionals and develop succession plans for key compliance leadership roles.
Build organizational capability to support growth and strategic objectives.
Manage departmental budget, staffing, technology, and vendor relationships.
Maintain direct access to the Joint Board Risk Committee.