Compliance Officer

Compliance Officer

General Summary:

Establishes and maintains policies, procedures, processes and practices to support the Bank’s Compliance Program, ensuring effective compliance with internal policies, legislative requirements, and regulatory requirements, including Federal Housing Finance Agency (FHFA), Sarbanes Oxley (SOX), Anti-Money Laundering (AML)/Bank Secrecy Act (BSA), and fair lending requirements.  

Principal Duties and Responsibilities:

• Independently owns and maintains a risk-based framework to coordinate with stakeholders across the Bank to assess, measure, monitor, verify, and report Bank-wide compliance with laws, regulations, regulatory guidance, internal Bank policies, and internal controls.
• Creates and executes a risk-based approach to identifying Bank-wide compliance gaps, assists departments in remediating gaps, and ensures gaps are appropriately reported, monitored, and addressed.
• Maintains a tracking database of key regulatory compliance requirements, as well as departmental compliance activities.
• Assists and coordinates gap analysis assessments of new/revised regulatory initiatives to ensure appropriate compliance activities are achieved.
• Performs an annual assessment of compliance risk and departmental compliance activities as part of the Bank’s risk assessment process.
• Performs ad-hoc compliance reviews and analysis of self-reported operational errors, as needed.
• Creates compliance reports for management and the Board.
• Coordinates with stakeholders across the Bank in the maintenance of a database of information reported to the FHFA, including responses to Special Data Requests.
• Addresses regulatory and audit findings related to compliance.
• Develops and maintains the fraud risk assessment and coordinates Suspicious Activity Reporting (SARs) with appropriate agencies.
• Provides direction, assistance and support for SOX initiatives.Assists staff with SOX documentation and control efforts and implements procedures to ensure SOX documentation is updated on a regular basis.Coordinates with Internal and External Audit on various SOX control initiatives.
• Implements, owns, and administers the Bank’s Governance, Risk, and Compliance (GRC) system, ensuring it is effectively integrated into the Bank’s overall risk management and compliance framework.
• Assists in the preparation for and management of regulatory examinations, audits, and inquiries, as assigned.
• Oversees the development and delivery of compliance training programs for all levels of staff, ensuring that employees are aware of and understand their compliance obligations, as assigned.
• Leads and manages one or more compliance professionals.
• Performs other duties and completes special projects as assigned by management.

Minimum Knowledge, Skills and Abilities Required:

• Bachelor’s degree in business, finance, accounting, law, or a related discipline or equivalent experience in a related field. MBA and/or relevant professional certifications (CPA, CRCM, CAMS, CIA, CFE) are highly desirable.
• Ten years of experience in a banking/financial institution, with five years of progressively responsible experience in a compliance-related role. Direct experience with the Federal Home Loan Bank (FHLB) System and/or FHFA is preferred.
• Prior experience implementing and maintaining policies, practices and procedures to support a company-wide compliance function is highly preferred.
• Sound knowledge of compliance and risk management best practices, including working understanding of risks and controls.Experience and/or understanding of regulatory processes is preferable.
• Ability to proactively develop and implement an efficient and effective risk-based compliance program. High degree of initiative and independence. Results-oriented and capability of working in a fast-paced, changing environment. Ability to manage multiple projects simultaneously, and complete tasks according to project deadlines.
• Excellent analytical skills; ability to independently assess and address compliance issues in a timely manner.
• Effective verbal, written, and interpersonal skills to communicate with all levels of Bank staff.
• Proven experience in owning, administering, and optimizing GRC systems within a financial institution is highly desirable.
• Proficient with Microsoft Office including Word, Excel, and Power Point. Proficiency with data visualization (e.g., Tableau, Power B.I.) and/or data management techniques (e.g., Python, R, Stata, SAS, SQL) desirable.
• Demonstrated commitment to diversity, equity, and inclusion. Promotes an environment of empathy and respect. Advocates for diversity at all levels of team members and in the selection of business partners and practices inclusion in all areas of responsibility. Supports D&I events and learning opportunities.
  
  

Working Conditions:

Normal office environment with flexibility to meet tight deadlines as required.