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 a Board-designated officer responsible for the organization’s overall Bank Secrecy Act (BSA) and compliance risk management process. The role provides technical compliance advice and guidance to bank management and staff, directs compliance personnel in identifying, measuring, and monitoring compliance risks, and oversees board reporting and interactions with external regulatory agencies. The position develops and maintains a risk-focused compliance program, helps ensure bank policies and procedures comply with applicable requirements, and monitors regulatory changes and their effects on bank operations. It oversees compliance testing, training, disclosures, advertising reviews, consumer complaint investigations, and relevant BSA/AML risk assessments. The role also supervises compliance and BSA personnel and, if applicable, risk management personnel.

Requirements

Bachelor’s degree.
Seven to ten years of experience in banking.
Three to five years of compliance experience.
Experience with industry-related systems or software.
Experience with high-risk money services business (MSB) accounts.
Strong knowledge of BSA/AML regulations.

Nice To Haves

CRCM certification.
CAMS certification.

Responsibilities

Develop and implement a risk-focused compliance program covering the bank’s compliance areas.
Assist with 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 the bank’s risk profile, assessing identified risks, and addressing 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 examiners and independent auditors during examinations and recommend or assist with corrective action.
Monitor the effectiveness of the Identity Theft Program and provide updates to the Board of Directors.
Monitor bank regulations and create or change policies in response to new or updated 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.
Prepare and present periodic reports to the Board concerning the bank’s compliance record, as determined through testing.
Maintain compliance resources and collect and distribute relevant compliance and topical information to appropriate staff.
Provide informational assistance and research to bank personnel.
Investigate consumer complaints, assist with resolution when necessary, and report and track complaints for trends.
Manage and supervise compliance and BSA personnel, and risk management personnel if applicable.
Monitor regulatory changes, analyze their effects on bank operations, and ensure adherence through policy or procedure implementation.
Perform other duties as assigned by a supervisor or management.
Comply with 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.