Compliance Officer

Luana Savings Bank • Norwalk, IA

27d • Hybrid

About The Position

Serves as the Bank's Compliance Officer responsible for the overall administration, direction, and effectiveness of the Bank's Compliance Management System (CMS). Oversees enterprise-wide consumer compliance, Community Reinvestment Act (CRA), regulatory compliance, and Bank Secrecy Act (BSA) oversight. Ensures the Bank maintains a strong culture of compliance while balancing regulatory expectations with operational efficiency. Serves as a trusted advisor to executive management and the Board of Directors on compliance matters and emerging regulatory risks. Monitors regulatory changes, evaluates their impact, and communicates compliance requirements throughout the Bank. Provides executive management with information necessary to assess the institution's compliance with applicable laws and regulations. Identifies compliance responsibilities, organizes and directs compliance activities, and prepares reports for executive management, the Board of Directors, and the Compliance Committee. Develops, reviews, and maintains compliance-related policies and procedures. Reviews new products, services, and operational changes to identify regulatory requirements and compliance risks prior to implementation. Responds to compliance inquiries from all departments. Develops compliance monitoring activities to assess adherence to applicable laws, regulations, and internal policies. Coordinates regulatory compliance examinations and manages corrective actions resulting from examination findings. Serves as chairperson of the Compliance and CRA committees. CRA (Community Reinvestment Act): Responsible for developing and administering all aspects of the Bank's Community Reinvestment Act program. This position develops programs to ensure the Bank meets the needs of the community and attains CRA compliance goals, maintaining a Satisfactory or better CRA rating during regulatory examinations. Advises on emerging CRA issues to ensure objectives are maintained. May participate with or delegate maintenance of relationships with community-based, charitable, and non-profit organizations as appropriate. Maintains CRA data, CRA Public File, and CRA examination coordination. BSA (Bank Secrecy Act) / AML (Anti-Money Laundering): Provides oversight of the BSA/AML compliance program while supporting the designated BSA Officer. Monitors overall program effectiveness, reports significant compliance risks to executive management, and ensures appropriate governance without assuming day-to-day responsibility for suspicious activity monitoring or case management.

Requirements

• Three or more years of progressive compliance experience in a financial institution
• Regulatory examination experience with ability to manage multiple regulatory priorities
• Ability to balance strategic oversight responsibilities with active participation in daily compliance operations
• Highly attentive to detail and accuracy with excellent organizational and time management skills
• Strong analytical skills
• Ability to research and interpret complex regulations
• Ability to write and implement strong policies and procedures
• Team player attitude to process compliance related tasks efficiently and accurately
• Effective communicator and influencer
• Satisfy internal compliance related inquiries in a prompt and professional manner
• Promote Luana Savings Bank to the surrounding area
• Professional appearance and behavior
• Follow all established policies, procedures, and regulations
• Reside within a 25 mile radius from the designated office or willing to relocate - please include location/relocation details in cover letter or resume submission
• Associate's Degree or equivalent banking/compliance experience

Nice To Haves

• Working knowledge of applicable banking regulations, including but not limited to: Regulation B, Z, DD, CC, E HMDA Flood Regulations UDAAP Fair Lending CRA BSA/AML
• Experience in Jack Henry core systems
• Experience in Kadince (CRA system)
• Experience in Verafin (BSA system)
• Board or executive level presentation experience
• Certified Regulatory Compliance Manager (CRCM) designation by the ABA or other related/comparable compliance training designations that reflect core competences in the compliance field
• Bachelor's Degree in Finance, Business, Accounting, Risk Management, or related field

Responsibilities

• Administer, direct, and ensure the effectiveness of the Bank's Compliance Management System (CMS).
• Oversee enterprise-wide consumer compliance, Community Reinvestment Act (CRA), regulatory compliance, and Bank Secrecy Act (BSA) oversight.
• Ensure a strong culture of compliance while balancing regulatory expectations with operational efficiency.
• Act as a trusted advisor to executive management and the Board of Directors on compliance matters and emerging regulatory risks.
• Monitor regulatory changes, evaluate their impact, and communicate compliance requirements throughout the Bank.
• Provide executive management with information to assess compliance with applicable laws and regulations.
• Identify compliance responsibilities, organize and direct compliance activities, and prepare reports.
• Develop, review, and maintain compliance-related policies and procedures.
• Review new products, services, and operational changes to identify regulatory requirements and compliance risks.
• Respond to compliance inquiries from all departments.
• Develop compliance monitoring activities to assess adherence to laws, regulations, and policies.
• Coordinate regulatory compliance examinations and manage corrective actions.
• Serve as chairperson of the Compliance and CRA committees.
• Develop and administer all aspects of the Bank's Community Reinvestment Act program.
• Develop programs to ensure the Bank meets community needs and attains CRA compliance goals.
• Advise on emerging CRA issues.
• Maintain CRA data, CRA Public File, and CRA examination coordination.
• Provide oversight of the BSA/AML compliance program.
• Monitor overall BSA/AML program effectiveness.
• Report significant compliance risks to executive management.
• Ensure appropriate governance for BSA/AML without assuming day-to-day responsibility for suspicious activity monitoring or case management.

Benefits

• Paid Vacation, Sick, Personal, and Volunteer time off
• Single, spouse, or family medical coverage offered with majority paid by employer
• Employer funded HSA Account compliments the medical coverage plan
• 401(K) plan with employer match
• Additional Profit Sharing Plan that tops the industry

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree