Financial Crimes & Compliance Officer

Description

Periodic travel to the island is expected.

Position Summary:

• As the Audit Manager liaison, coordinating all internal audits, this function will report directly to the Audit Committee for all internal control reporting.

Keep abreast of regulatory and legal developments governing institution operations, products, and services.  Utilizing third-party professional resources, plan, coordinate and evaluate the institutions programs to ensure compliance with applicable laws and regulations.  As the Bank’s BSA Officer and Compliance Officer, provide bank-level leadership for all aspects of MVSB’s Bank Secrecy Act and Compliance Program.  Plan for and coordinate all internal and compliance audits/exams between the functional business units and the outside auditors/examiners and track all audit and exam recommendations while collaborating with functional line managers to remediate such recommendations in an expeditious manner.

• Oversees the organization and control of the Bank's day-to-day administrative, lending, and operational compliance and internal audit activities.
• Utilizing outside professional third-party services, coordinates the administration and monitoring programs that ensure the Bank’s compliance with laws, regulations and rules governing operations and product offerings.
• Utilizing professional outside third-party resources, research federal and state banking laws and regulations as needed and reviews the financial institution’s policies and procedures, to ensure Bank’s compliance with laws and regulations.
• Participate in various committees.
• Serve as direct liaison between the Bank and various outside auditing and/or monitoring third party contractors that provide internal audit, compliance, and monitoring services.
• Serve as the primary coordinator between the Bank and federal and state examiners when requests for information are sent to the Bank.
• As needed, support the CFO to advise the Board of Trustees, Executive Management and Bank personnel of emerging compliance issues and consults and guides the Bank in establishing controls to mitigate risks.
• Coordinates the gathering and dissemination of information related to various audit and examination engagements at the Bank.
• Serve as the Bank’s Chairperson over the Management Compliance Committee.
• Coordinate the preparation of risk assessments, and all Bank Board approved policies.
• Monitor and Approve all Audit and Monitoring Expense Invoices.
• Provide ongoing coaching to BSA team to properly manage workflows and reporting.
• Serve as the overseer, central resource, and repository for the gathering of all suspicious activity information identified by Bank employees or through automated third party outside services. 
• Daily, monitor the Bank’s compliance with the Bank Secrecy Act, USA Patriot Act, Anti-Money Laundering, OFAC and Customer Identification Program using industry standard and regulatory guidance sampling methods. 
• As BSA Officer, determine when SARs should be filed.

• Recognize and demonstrate the Bank’s Core Values:
  • We value and respect the contribution of each member of the team.
    • We work together to support our mutual goals.
    • We foster an inclusive, non-hierarchical environment.
    • We gain a sense of fulfillment through our contribution to the whole.
    • We manage client and company resources responsibly.
  • We are passionate about our craft.
    • Each day our effort is focused on doing better than the day before.
    • Be curious.
    • Expect the highest quality work from ourselves.
    • Enable our creativity with continuous self-improvement.
  • We go out of our way to do the right thing.
    • Going the distance to do right by our customers and colleagues.
    • Protect the confidentiality and privacy of our customers – no matter what. 
    • Embody the gold standard of professional ethics.
    • Avoid even the appearance of impropriety.
  • We are candid and kind.
    • Our integrity, built on the trust of our community and among our peers, depends on our ability to communicate with respect, honesty, and candor.
    • Have the courage to be honest.
    • Trust and empower individuals.
    • Hold each other accountable to uphold our values.
• Maintain knowledge of services in area of responsibility.
• Maintain basic knowledge of related state and federal banking compliance regulations.
• Demonstrate understanding and adherence to Bank Security procedures.
• Work within procedural limits of position.
• Any other tasks or projects assigned by supervisor.

Qualifications

• Bachelor’s Degree or equivalent experience.
• Five to ten years project management/banking experience.  Extensive knowledge of all financial institution policies and procedures.
• Excellent organizational and interpersonal skills.
• Excellent leadership, managerial and verbal and written communication skills.  Advanced organizational skills with the ability to prioritize and meet deadlines.
• Knowledge of basic computer applications (windows, word, excel spreadsheets).
• Ability to establish and maintain effective relationships with other management staff and employees

• Must be able to stand or sit for long periods of time.
• Work is normally performed in an office environment.
• May operate office equipment necessary to perform job function.

Job Positions Immediately Supervised:

• BSA Specialist
• Sr. BSA Specialist
• Assistant BSA Officer