What are the responsibilities and job description for the Compliance Associate position at Salem Five Bank?
Salem Five is a growing regional financial services organization with a rich history of over 160 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.
This position requires the ability to work in the Salem, MA office.
Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families.
Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we’re all about.
Actively participate in activities of the Compliance Department including HMDA and CRA (including 1071 Small Business) reporting, online Compliance training curriculum development, the formalized compliance risk assessment process, and the planning, coordination and completion of targeted, timely compliance monitoring reviews in accordance with the Compliance Calendar and as directed on an as-needed basis.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
Associates or Bachelor’s degree. Bank compliance, audit or related banking experience a plus.
CERTIFICATES, LICENSES, REGISTRATIONS
Must have a current driver’s license and be able to travel regularly to branch locations and other remote offices. A willingness to work towards obtaining a professional regulatory compliance certification (Certified Regulatory Compliance Manager or “CRCM”) a plus.
PHYSICAL DEMANDS
The physical demands listed are typical of those an employee must meet to successfully perform the essential duties of this job. We may make reasonable accommodations to enable individuals with disabilities to perform those duties. While performing the duties of this job, the employee is regularly required to talk, see, hear, read, write, walk, sit, stand, stoop, kneel or bend; reach with hands and arms; use office equipment such as computer, telephone, calculator, and fax machine. The employee must occasionally lift and/or move up to 20 pounds.
Benefits/Incentives: Health Insurance, Dental, Vision, Flexible Spending Account, Health Savings Account, 401k Matching, Tuition Reimbursement, Employee Referral Program, Summer Family Outing, Annual Holiday Reception and more.
Salary Range: Competitive Base
Ready to apply? If this job sounds like a fit for you, then click on Apply/Apply Now in this posting. We look forward to talking with you.
Qualified candidates may also submit a resume and application online at salemfive.com/careers or mail your resume to Human Resources, 210 Essex Street, Salem, MA 01970.
This position requires the ability to work in the Salem, MA office.
Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families.
Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we’re all about.
Actively participate in activities of the Compliance Department including HMDA and CRA (including 1071 Small Business) reporting, online Compliance training curriculum development, the formalized compliance risk assessment process, and the planning, coordination and completion of targeted, timely compliance monitoring reviews in accordance with the Compliance Calendar and as directed on an as-needed basis.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
- Keep abreast of statutory and regulatory developments impacting the Bank and its affiliates.
- Assist in the collection of documents/information in preparation for federal and multi-state regulatory examinations, as well as internal/external audits.
- Assist in the completion of independent risk-based compliance on-site assessments of Retail branches and the Bank’s Contact Center area for compliance with all relevant banking laws and regulations, as prescribed by the Compliance Calendar.
- Assist in the preparation and delivery of written reports and recommended action plans (including commentary as to adequacy of any policy/procedure, the need for additional training and/or development of enhanced monitoring techniques) for management to correct identified deficiencies. Follow up to ensure receipt and implementation of appropriate responses and maintain documentation of all.
- Assist in the review of residential mortgage, commercial and consumer loan files for compliance with state and federal lending laws and regulations. Identify deficiencies and/or weaknesses in procedures and assist in the creation of reports of findings to management and the Bank’s Audit Committee.
- Provide assistance and perform follow up testing and review as prescribed by the Compliance Department’s Findings Tracker.
- Support preparation and filing of the Bank’s HMDA-LAR report via utilization of third-party reporting software (collecting application data, performing quality and validity checks, and ultimate submission).
- Support the Bank’s CRA Officer with the collection and analysis of required data for reporting on the annual CRA LAR.
- Support implementation of the Bank’s online compliance training program including the review of the training content. Assist in the creation of face-to-face training on new or changed regulatory requirements and the associated implementation strategy to impacted staff. Maintain records of all compliance training, both online and face-to-face.
- Assist in performing, documenting, and maintaining Compliance Risk Assessments.
- Identify and recommend efficiencies in the Compliance Department. Attend periodic seminars, webinars and other training to gain a better understanding of emerging regulatory issues.
- Regular attendance is essential to this position.
- Assume additional responsibilities as requested.
- Demonstrate compliance with banking business laws and regulations as defined in company policies and procedures pertinent to the position.
Associates or Bachelor’s degree. Bank compliance, audit or related banking experience a plus.
CERTIFICATES, LICENSES, REGISTRATIONS
Must have a current driver’s license and be able to travel regularly to branch locations and other remote offices. A willingness to work towards obtaining a professional regulatory compliance certification (Certified Regulatory Compliance Manager or “CRCM”) a plus.
PHYSICAL DEMANDS
The physical demands listed are typical of those an employee must meet to successfully perform the essential duties of this job. We may make reasonable accommodations to enable individuals with disabilities to perform those duties. While performing the duties of this job, the employee is regularly required to talk, see, hear, read, write, walk, sit, stand, stoop, kneel or bend; reach with hands and arms; use office equipment such as computer, telephone, calculator, and fax machine. The employee must occasionally lift and/or move up to 20 pounds.
Benefits/Incentives: Health Insurance, Dental, Vision, Flexible Spending Account, Health Savings Account, 401k Matching, Tuition Reimbursement, Employee Referral Program, Summer Family Outing, Annual Holiday Reception and more.
Salary Range: Competitive Base
Ready to apply? If this job sounds like a fit for you, then click on Apply/Apply Now in this posting. We look forward to talking with you.
Qualified candidates may also submit a resume and application online at salemfive.com/careers or mail your resume to Human Resources, 210 Essex Street, Salem, MA 01970.
