Compliance Officer

First Bank Chicago•Northbrook, IL

23h

About The Position

This position reports to Vice President Senior Compliance CRA Officer. The Compliance Officer is a member of the Enterprise Risk Management (ERM) Department, responsible for developing, administering, and maintaining effective Consumer Compliance Management Programs in accordance with applicable laws, guidelines, and regulations. The role involves performing, monitoring, and maintaining various aspects of compliance programs, including risk assessments, monitoring and testing, training, consumer complaints, marketing materials review, CRA activity oversight, and ensuring timely remediation of audit results. The officer will also provide guidance and training to business partners, assist with Compliance and CRA Committee meetings, and stay updated on regulatory developments to ensure Bank policy and procedures remain compliant.

Requirements

Possesses strong research, analytical and problem-solving capabilities.
Highly organized with the ability to manage multiple duties/projects simultaneously.
Strong written and verbal communication skills.
Detail oriented self-starter capable of working independently.
Ability to collaborate effectively, build strong interpersonal relationships and resolve conflicts constructively.
Strategic thinker with the ability to develop a comprehensive understanding of applicable products and services.
Comprehensive knowledge of all Consumer Protection Regulations.
Ability to quickly learn and adapt to new technologies and systems.
Ability to serve as a trusted compliance resource.
Bachelor’s Degree in Economics, Finance or Business Management or equivalent related experience.
3 to 4 years’ Compliance experience with a financial institution.
Microsoft proficiency.

Nice To Haves

1 to 2 years CRA experience.
Prior Regulation O experience/responsibility.
CRCM certification or progress toward certification.
Knowledge of Fiserv Premier software.

Responsibilities

Work closely as a member of the Bank’s Compliance team to perform, monitor and maintain specific aspects of the compliance programs.
Oversee compliance management system, compliance risk assessments, compliance monitoring and testing programs, and compliance training program and reporting.
Manage the consumer complaints process.
Review marketing materials and bank forms to ensure compliance with applicable rules and regulations.
Monitor CRA service, investment, and loan activity to ensure goals/metrics are being met.
Review results of internal and/or external audits for Consumer Compliance related issues to ensure timely and accurate responses and remediation.
Monitor regulatory developments and ensure timely implementation of new or revised requirements.
Prepare compliance reports for senior management and regulatory agencies.
Provide practical guidance and training to business partners across the bank.
Assist in coordinating and attend CRA Committee meetings.
Assist in coordinating and attend Compliance Committee meetings.
Attend applicable regulatory training, seminars, and conferences to maintain regulatory consumer compliance knowledge.
Determine effects of consumer protection laws and regulations on Bank policy, procedures, and practices.
Maintain and update various consumer compliance policies.
Implement changes to Bank policy, procedures, and practices to ensure compliance with consumer protection laws and regulations.
Inform Bank management and lines of business regarding changes to Federal and State regulatory laws.
Inform Bank management regarding the outcome of reviews and investigations to escalate any concerns.
Perform other duties as assigned.