Vice President of Risk and Compliance

Mar 31, 2025

Central Pennsylvania

Central, PA Financial Institution searching for a Vice President of Risk and Compliance

The Vice President of Risk and Compliance will oversee the institution’s risk management and compliance programs to ensure it adheres to regulatory requirements, operates efficiently, and manages potential risks. They will also serve as the Patriot Act Officer.

Key Duties

Risk Management:

• Identify and Assess Risks: Develop and implement processes to identify, evaluate, and monitor potential risks (financial, operational, cybersecurity, and reputational) that could affect the institution.
• Risk Mitigation: Design strategies to mitigate identified risks and recommend solutions to minimize potential negative impacts.
• Internal Controls: Establish and maintain robust internal control systems to safeguard assets, data, and the integrity of operations.
  
  

Compliance Oversight

• Regulatory Compliance: Ensure the institution complies with federal and state regulations, including Dodd-Frank, Bank Secrecy Act (BSA), Anti-Money Laundering (AML) rules, and other relevant laws.
• Policy Development: Develop, update, and implement compliance policies and procedures in accordance with regulations and best practices.
• Training and Education: Provide training to staff on compliance-related topics, ensuring they are aware of regulatory changes and organizational policies.
  
  

Reporting And Monitoring

• Compliance Audits: Oversee periodic audits of the institution’s operations and systems to ensure compliance with internal policies and external regulations.
• Risk and Compliance Reporting: Provide regular reports and updates to senior management and the board of directors regarding risk exposure, compliance status, and any issues or breaches.
• Remediation Plans: Develop and implement corrective actions in response to audit findings, regulatory violations, or incidents of non-compliance.
  
  

Leadership And Collaboration

• Cross-Functional Collaboration: Work closely with other departments (e.g., IT, finance, lending, operations) to integrate risk and compliance considerations into the institution’s business processes.
• Team Management: Lead their staff providing direction, mentorship, and support for their development.
• Vendor Management: Administer program and ensure third-party vendors comply with the institution’s risk and compliance policies and regulatory requirements.
  
  

Strategic Planning And Improvement

• Continuous Improvement: Regularly review and update risk management and compliance programs to address emerging threats and changes in the regulatory environment.
• Strategic Advice: Provide counsel to executive leadership on risk and compliance matters, advising on strategic decisions and their potential impact on risk exposure.
  
  

Crisis Management

• Incident Response: Lead efforts to respond to risk events, regulatory investigations, or compliance violations, managing communications with regulators, external auditors, and legal teams.
• Business Continuity Planning: Ensure the institution has a comprehensive business continuity plan in place to handle disruptions or crises effectively.
  
  

Regulatory Interaction

• Liaison with Regulators: Act as contact for regulatory bodies and respond to regulatory inquiries, exams, and inspections.
• Regulatory Updates: Stay updated on evolving regulations, industry best practices, and emerging risks, adapting the institution’s compliance and risk management strategies as needed.
  
  

Technology And Data Security

• Cybersecurity Risk Management: Work with CIO on the cybersecurity program to ensure the protection of member data and the institution’s information systems.
• Data Privacy: Ensure compliance with data privacy laws and regulations, protecting member and organizational data from breaches.
  
  

Fraud Prevention And Detection

• Fraud Risk Assessment: Identify and assess potential fraud risks across the institution’s operations, including member transactions, lending processes, and digital banking services.
• Fraud Investigations: Lead investigations into suspected fraudulent activities, coordinating with internal teams, external auditors, law enforcement, and legal advisors as necessary.
• Internal and External Fraud Prevention: Develop and implement policies and procedures to prevent both internal (employee) and external (member or third-party) fraud, ensuring all employees are educated on fraud awareness and prevention techniques.
• Fraud Incident Response: Lead the institution’s response to fraud incidents, ensuring proper reporting, documentation, and resolution. This includes working with law enforcement or regulatory bodies when appropriate.
• Fraud Reporting: Prepare and deliver regular reports on fraud prevention efforts, including detection systems’ effectiveness, incidents, and trends, to senior management and the board of directors.
• Fraud Control Policies: Establish, review, and update fraud prevention and control policies to address emerging fraud schemes and mitigate risks. This includes ensuring robust verification processes for new accounts, loans, and online banking services.
  
  

Qualifications

• A Bachelor’s Degree is required or equivalent industry experience can be substituted.
• 10 Years of Compliance Experience.
• 8 Years of Management Experience.
• Compliance Certification as applicable is preferred.
• High Level of Accountability and Self-Management
• Excellent Verbal and Written Communication
• Ability to Problem-Solve Complex Issues with a High Level of Confidentiality.
  
  

Benefits

• Company Paid Health, Dental and Vision Insurance for the Employee
• 401K Retirement Plan with a Company Contribution
• Short-Term Disability, Long-Term Disability and Life Insurance
• Vacation and Sick Leave PTO
• Tuition Reimbursement
  
  

This is a Full-Time Exempt Position located in Central, PA. The salary range is between $90,000 to $120,000 per year. The position would be offered with the company benefits package.

Please send resume to: hrhiringandrecruiting@gmail.com