Compliance Associate

Make Your Move•Salem, MA

1d•Onsite

About The Position

Salem Five is a growing regional financial services organization with a rich history of over 170 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers. This position requires the ability to work in the Salem, MA offices. Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families. Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we’re all about.

Requirements

Associates or Bachelor’s degree.
Must have a current driver’s license and be able to travel regularly to branch locations and other remote offices.

Nice To Haves

Bank compliance, audit or related banking experience a plus.
A willingness to work towards obtaining a professional regulatory compliance certification (Certified Regulatory Compliance Manager or “CRCM”) a plus.

Responsibilities

Keep abreast of statutory and regulatory developments impacting the Bank and its affiliates.
Assist in the collection of documents/information in preparation for federal and multi-state regulatory examinations, as well as internal/external audits.
Assist in the completion of independent risk-based compliance on-site assessments of Retail branches and the Bank’s Contact Center area for compliance with all relevant banking laws and regulations, as prescribed by the Compliance Calendar.
Assist in the preparation and delivery of written reports and recommended action plans (including commentary as to adequacy of any policy/procedure, the need for additional training and/or development of enhanced monitoring techniques) for management to correct identified deficiencies.
Follow up to ensure receipt and implementation of appropriate responses and maintain documentation of all.
Assist in the review of residential mortgage, commercial and consumer loan files for compliance with state and federal lending laws and regulations.
Identify deficiencies and/or weaknesses in procedures and assist in the creation of reports of findings to management and the Bank’s Audit Committee.
Provide assistance and perform follow up testing and review as prescribed by the Compliance Department’s Findings Tracker.
Support preparation and filing of the Bank’s HMDA-LAR report via utilization of third-party reporting software (collecting application data, performing quality and validity checks, and ultimate submission).
Support the Bank’s CRA Officer with the collection and analysis of required data for reporting on the annual CRA LAR.
Support implementation of the Bank’s online compliance training program including the review of the training content.
Assist in the creation of face-to-face training on new or changed regulatory requirements and the associated implementation strategy to impacted staff.
Maintain records of all compliance training, both online and face-to-face.
Assist in performing, documenting, and maintaining Compliance Risk Assessments.
Identify and recommend efficiencies in the Compliance Department.
Attend periodic seminars, webinars and other training to gain a better understanding of emerging regulatory issues.
Regular attendance is essential to this position.
Assume additional responsibilities as requested.
Demonstrate compliance with banking business laws and regulations as defined in company policies and procedures pertinent to the position.