Compliance Officer

Citizens Bank•Big Bend, WI

About The Position

The Compliance Officer oversees Bank’s Compliance Management System. This includes chairing the bank’s Compliance Committee, developing appropriate risk assessments, creating audit/monitoring schedules in response to risk levels, and managing overall compliance. Hours: 40 hours/week Monday - Friday 8am-5pm Hours may change based on business needs

Requirements

Bachelor’s degree or equivalent from a four-year college in a related field; or minimum of five years’ experience in the compliance function of a financial institution; or equivalent combination of both.
Continuing professional development and training in banking, auditing skills, and compliance regulations.
Must have excellent written and oral communication skills.
Must have advanced analytical skills.
Broad knowledge of Bank operations and procedures.
Must comply with applicable laws and regulations, including but not limited to, the AML/CFT Act and the requirements of the Office of Foreign Assets Control. Additionally, all employees must follow policies and procedures to minimize risk by exercising good judgment, raising questions to management, and adhering to policy guidelines.

Responsibilities

Regulatory Compliance:
Ensure the bank adheres to relevant financial laws and regulations.
Monitor regulatory changes and assess their impact on the bank's operations, ensuring necessary updates are implemented in a timely manner.
Oversee the Compliance Management System (CMS) to ensure the Bank remains strong, independent, and free from regulatory compliance violations.
Chair the Compliance Committee to disseminate regulatory compliance information and maintain a strong proactive culture of compliance throughout the bank.
Serve as the CRA Officer, responsible for high level oversight of the tracking and monitoring of CRA-eligible loan activity and reporting progress to senior management and the Board.
Risk Management:
Develop, implement, and maintain the compliance risk management processes and policies.
Conduct periodic risk assessments to identify potential compliance vulnerabilities and advise on mitigation strategies.
Training and Awareness:
Design and deliver training programs to bank employees on compliance-related matters, including regulatory updates, anti-money laundering, and fraud prevention.
Raise awareness among employees about the importance of maintaining compliance in all business activities.
Audit and Reporting:
Implement and maintain an effective audit/monitoring schedule to identify regulatory compliance deficiencies and recommend corrective actions. Ensure corrective actions are tracked and any deficiencies are reported to the Compliance Committee and Board of Directors for accountability.
Collaborate with internal and external auditors to prepare for audits and assessments, ensuring that proper records and documentation are maintained.
Prepare regular compliance reports for senior management and the Board of Directors, outlining findings, compliance status, and any corrective actions taken.
Investigations and Reporting of Violations:
Investigate potential compliance violations and ensure appropriate actions are taken.
Report significant compliance issues to senior management, regulatory bodies, or the Board of Directors.
Policy Development and Implementation:
Review, update, and draft compliance department policies and procedures to ensure ongoing compliance with regulatory changes and internal standards.
Ensure that all bank departments align their operations with the established policies.
Liaison with Regulatory Authorities:
Serve as the main point of contact for regulatory agencies, addressing inquiries and responding to regulatory requests or audits.
Manage and facilitate examinations conducted by regulatory authorities.
Leadership
Supervise, mentor, and motivate the members of the Compliance team.
Conduct regular staff meetings and performance evaluations.
Approve staff time off according to bank policies.
Provide coaching, mentoring, training, and education to staff.
Manage performance and employee relations issues with confidentiality, timeliness, professionalism, and tact.
Attend interviews and recommend hiring/staffing decisions to HR.
Share relevant and important information with staff through regular meetings to address questions and concerns.
Meet one-on-one with staff members at least bi-monthly to review performance and progress on goals.
Attend relevant meetings and communicate information to staff.
Act as a resource to team members in all regulatory compliance areas to include policy reviews, advertising approval, new product implementation, etc.
Foster partnerships with business line managers to align risk management with business goals, including new product/service development, strategic planning, and responding to new regulations.
Lead the bank through regulatory compliance audits and exams.
Any other duties as assigned.