What are the responsibilities and job description for the COMPLIANCE OFFICER, BANKING position at Alerus Financial?
WHO ARE WE : Alerus is a commercial wealth bank and national retirement provider with one core purpose : helping clients achieve their financial goals. We are driven by a shared commitment to always do the right thing; leading with integrity and providing valued advice and guidance to our clients. We value the expertise and skillsets each team member provides and encourage collaboration, innovation, adaptability, and an entrepreneurial spirit at all levels of our company. By consistently seeking improvements and growth, we foster long-term relationships with clients and team members. We are proud to be recognized as a Top Workplace by numerous industry and regional outlets.
CORE VALUES : Passion for Excellence : : Success is Never Final : : Do the Right Thing : : One Alerus
ABOUT THE ROLE :
The Compliance Officer is responsible for providing expert support, advice, and guidance to clients on regulatory compliance matters within the banking and division. This role requires a thorough understanding of all applicable regulations in the assigned areas and involves monitoring and tracking laws and regulations that impact various operations and product offerings. The Compliance Officer will maintain a risk-based program to ensure regulatory compliance, collaborating closely with business lines, Internal Audit, and Enterprise Risk Management.
WHAT YOU'LL BE DOING :
- Risk-Based Compliance Monitoring : Manage risk-based compliance monitoring performed within business units, conduct reviews for areas not covered by the first line or third lines of defense, and maintain schedules and documentation of monitoring performed.
- Regulatory Monitoring and Implementation : Monitor new and changing regulations, communicate relevant updates to internal clients, and ensure compliance through policy, procedure, or system changes.
- Compliance Reviews and Exams : Assist in preparing for internal and external exams and work with business lines to monitor progress on compliance related findings.
- Consulting and Training : Provide expertise on regulatory requirements, help clients with implementation, and assist in developing and facilitating compliance training programs.
- Collaboration and Reporting : Work with Internal Audit and Risk Management to adjust compliance monitoring scope, develop risk assessments, and report on regulatory developments and compliance monitoring results to the Chief Compliance Officer and ERM Committee.
- Third Party Risk Management Function : Assist with ongoing vendor management and monitoring and coordinate risk assessments and initial and ongoing vendor due diligence with business lines.
- Community Reinvestment Act : Ensure the Company's community development activities are tracked, reviewed and analyzed, along with promoting awareness for the program within the organization
- Complaint Management Program : Review complaints, escalate as appropriate, and address significant complaints that have an impact on regulatory compliance or potential consumer harm. Provide periodic reporting on trends to ERM Committee.
- Continuous Learning and Project Support : Maintain up-to-date knowledge of company procedures, policies, and regulations through ongoing education and specialized training, and represent the compliance function in company projects to ensure adherence to applicable laws and regulations.
WHAT YOU SHOULD HAVE :
WHAT WE BRING TO THE TABLE :
WORK ENVIRONMENT : Work is typically performed in an office setting. The employee is regularly required to sit for extended periods of time. The employee is occasionally required to move about the office utilizing proper ergonomic safeguards when doing so. Additionally, the employee must occasionally lift or move supplies and materials up to 20 pounds.
The above information in this description has been designed to indicate the general nature and level of work performed by employees in this position. It is not designed to contain or be interpreted as an exhaustive list of all responsibilities, duties, and qualifications required of employees assigned to this job.
Alerus is an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
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