VP of Compliance and Risk

State Bank of Texas•Irving, TX

About The Position

State Bank of Texas is a privately owned, independent bank specializing in lending solutions for the hospitality industry. The VP of Compliance and Risk is an officer position designated by the Board of Directors and is responsible for the organization’s overall BSA and compliance risk management process. The role provides technical advice and guidance to bank management and staff, aligning compliance work with business needs and ensuring compliance objectives are achieved. It directs compliance staff in identifying, measuring, and monitoring compliance risks, and is responsible for Board reporting and interaction with external regulatory agencies. The position develops and implements a risk-focused compliance program, maintains knowledge of applicable regulations, oversees compliance training and assessments, and ensures policies, procedures, disclosures, products, services, and advertising comply with regulatory requirements. It also manages or supervises compliance and BSA personnel and investigates and reports consumer complaints.

Requirements

Bachelor’s degree.
7 to 10 years of experience in banking, including 3 to 5 years of compliance experience.
Experience with high-risk money services business (MSB) accounts.
Strong knowledge of BSA/AML regulations.
Experience with industry-related systems or software.

Nice To Haves

CRCM certification.
CAMS certification.

Responsibilities

Develop and implement a risk-focused compliance program covering the bank’s compliance areas.
Assist in developing and reviewing bank policies and procedures to ensure compliance with applicable laws and regulations.
Maintain current knowledge of BSA, AML, OFAC, and other bank-related compliance regulations.
Use monitoring application systems, maintain investigation files, and conduct periodic departmental compliance assessments.
Work with the BSA Officer to prepare the BSA/AML Risk Assessment by identifying and analyzing the bank’s risk profile and mitigating control gaps.
Interpret regulations and implement new or revised regulatory requirements.
Assign and monitor annual BSA training and other compliance training for the Board and employees.
Coordinate with regulatory agency examiners and independent auditors during examinations, and recommend or assist with corrective action as needed.
Monitor the effectiveness of the Identity Theft Program and provide updates to the Board of Directors.
Monitor bank regulations and create or update policies for new or revised regulations.
Test compliance-related procedures throughout the bank to assess their effectiveness.
Monitor and update disclosures for compliance with federal and state regulations.
Review product and service disclosures and advertising materials for compliance with applicable rules.
Prepare and present periodic reports to the Board concerning the bank’s compliance record based on testing.
Maintain compliance resources and collect and disseminate compliance and other topical information to appropriate staff.
Provide informational assistance and research for bank personnel.
Investigate consumer complaints, assist with resolution when necessary, report complaints, and track trends.
Manage or supervise compliance and BSA personnel, and risk management personnel if applicable.
Stay current with regulatory changes, analyze their effects on bank operations, and ensure adherence through policy or procedure implementation.
Perform other duties assigned by a supervisor or management.
Comply with applicable federal, state, and company policies, procedures, laws, and regulations.
Adhere to security responsibilities outlined in the Bank’s Information Security Program and Written Security Program.