Chief Compliance Officer

Five Star Bank•City of Rochester, NY

27d•$160,000 - $210,000•Hybrid

About The Position

As a key senior leader of a growing and innovative financial institution, the Chief Compliance Officer (CCO) oversees all regulatory compliance and ethics functions for Five Star Bank and its investment affiliate, Courier Capital. The CCO is responsible for maintaining a sustainable Compliance Management Program (CMP), including Fair Lending and Community Reinvestment Act (CRA) programs, to ensure compliance with applicable laws and regulations while proactively identifying and mitigating emerging risks. Reporting regularly to the Board of Directors, Risk Oversight Committee, and executive leadership, the CCO provides strategic oversight of compliance risk within the Company's established risk appetite. The role leads the Compliance Committee and serves on key cross-functional committees to align compliance and ethics strategies with business objectives and regulatory expectations. The CCO is accountable for Board-approved compliance and risk programs, ensuring they remain effective, responsive to regulatory developments, and aligned with organizational goals. Core responsibilities include compliance training, risk assessments, testing and monitoring, policy governance, complaint management, regulatory change management, and issue remediation. The CCO also leads a high-performing second line of defense compliance team, partnering closely with business leaders to provide guidance, support sound risk management, and drive a culture of compliance across the enterprise. As a senior member of the Risk Department, the CCO contributes to the broader risk management framework and brings a strong understanding of enterprise risk, operational risk, information security, and financial crimes risk management while exemplifying the Company's values and leadership expectations.

Requirements

Bachelor’s Degree in business, management, organizational leadership or related curriculum
10+ years progressive banking compliance with a thorough understanding of Banking Compliance Management System (CMS) aligned with regulatory expectations
7+ years progressive management experience

Nice To Haves

Master’s Degree in business, management, organizational leadership or related curriculum
3+ years administering compliance management program as a Chief Compliance Officer for a financial institution
10+ years progressive management experience; with a thorough understanding of Banking Compliance Management System (CMS) aligned with regulatory expectations
Certified Regulatory Compliance Manager (CRCM)

Responsibilities

Directing the Company’s compliance strategy by maintaining and effecting on the Company’s ongoing Compliance Program.
Developing and maintaining corporate compliance policies and establishing compliance review procedures.
Interpreting legislation or pending legislation and developing strategies for ensuring organizational compliance.
Assisting the firm in understanding and addressing all applicable laws and regulations.
Ensuring changes sponsored by the Company Compliance Department are managed in accordance with corporate change management policies.
Supporting line of business change management to ensure mitigation of adverse or unintended impacts.
Overseeing the conduct of (at a minimum) Annual Risk Assessments designed to identify and mitigate regulatory compliance risk issues.
Providing guidance to the First Line in crafting and documentation of risk remediation actions and monitors administration of remediation plans to successful completion.
Providing quarterly interim risk assessment updates based of compliance testing and monitoring activities and issues management.
Developing an annual risk-based Compliance Testing schedule and ensuring the compliance testing team executes timely compliance testing engagements and reports on testing outcomes through the committee structure.
Managing the staff of and directing the activities of the Company’s Compliance Department.
Overseeing the administration of the Company’s Complaint Management Program.
Chairs the Company’s Compliance Committee, presenting prepared materials and fostering conversation on Compliance culture, activities, issues and actions.
Serving on other management committees including Operating, New Product Approval, and Governance Process Review Committee.
Accountable to report material regulatory compliance risks directly to the Board and to senior management.
Communicating with regulatory agencies, internal and external auditors, and other control groups on compliance related issues.
Coordinating examination preparation and other responses to regulatory agencies, internal and external auditors, and other control groups on compliance related issues.
Successfully managing departmental issues/findings through resolution and assisting business partners to help timely mitigate compliance risks identified through monitoring, testing, audit and/or examination processes.
Actively participating on multiple management risk focused committees which may include, among others (based upon knowledge base), the areas of: Company risk, credit, loan approval, disclosures, Allowance for Credit Losses, new product approval and community reinvestment.
Serving as the Chief Ethics Officer, working with Human Resource partners to thoroughly investigate allegations of illegal, improper, or unethical conduct by employees or company representatives.
Working closely with management and lines of business to establish an appropriate compliance culture throughout the firm including the development of specialized training programs and ensuring firm documents are compliant.
Effectively managing assigned third parties to ensure adherence to bank policy, procedure and protocol.
Managing the Bank’s membership in the American Bankers Association.
Demonstrating the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders.
Incorporating the high-performance behaviors of teamwork, leading by example, and service in every facet of work.

Benefits

Medical, Dental, and Vision Insurance
Health Savings Account
Flexible Spending Account(s)
Company Paid Life Insurance, Long-Term Disability, and Short-Term Disability
Voluntary Offerings: Life, Critical Illness/Specified Disease, Accident, Hospital Indemnity, Legal Insurance & Personal Accident
Tuition Reimbursement
Employee Referral Program
Wellness Reimbursement Program
Star Volunteer Program
Employee Banking and Financial Perks
Flexible Hybrid Work Schedule
Paid Time Off (PTO)
Company Paid Holidays