What are the responsibilities and job description for the VP Compliance & CRA Officer position at The Village Bank?
Description
Position Summary
The Vice President, Compliance & CRA Officer will work under the direction of the Chief Risk Officer. Responsible for the Bank’s compliance management and compliance quality control program. Oversees the bank’s adherence to internal policies and procedures as they relate to complying with state and federal regulations. Assesses compliance risk across all bank functions. Responsible for the bank’s vendor management program. Provides compliance training. This position also serves as the bank’s CRA Officer which will ensure adherence to CRA regulations to serve our communities lending needs to include low and moderate income neighborhoods.
Responsibilities
Compliance Officer:
Number of employees supervised: 2
Qualifications
Experience
The Village Bank is committed to the policy of providing equal employment opportunities for employment, training, compensation, transfer, promotion, and other aspects of employment for all qualified applicants and employees without regard to sex, race, creed, color, religion, national origin, age, sexual orientation, gender identity or expression, veteran status, physical or mental disabilities, genetics or any other status protected by law.
Core Competencies
Village Banker - Provides the Village Bank experience and delivers on the Preferred Banking Pledge by extending exceptional service to both external and internal customers. Is a respectful, cooperative, and supportive team member. Supports the Bank's overall initiatives in the community through active involvement and participation.
Communication - Uses effective, clear communication and active listening skills with internal/external customers. Shares timely and accurate information to the relevant audience, including appropriate follow-up. Uses a professional tone both orally and in written communications. Respectful of the views and opinions of others.
Problem Solving - Identifies problems and considers contributing factors. Seeks and considers input from others. Recommends alternatives. Exhibits good judgment in decision-making. Implements a timely solution as appropriate.
Initiative - Proactively looks for ways to add value to the customer experience. Makes suggestions for process improvement and workflow efficiency. Takes action when appropriate. Seeks new opportunities to increase job skills and knowledge.
Risk Management - Adheres to and administers BSA, OFAC, anti-money laundering, CIP and security policies and procedures in order to limit risk and exposure to the Bank and its customers. Complies with all Bank policies and government regulations. Performs well in audits, as applicable.
Dependability – Consistently produces a great quality work product. Is accurate and timely. Meets established deadlines. Maintains a positive attendance record by being punctual and reliable.
Management/Leadership (if applicable) - Establishes respect and trust of the staff; exemplifies the behaviors of a Village Banker and shares the Bank's values to inspire the team to work towards the Bank's mission, goals and objectives; defines and delegates responsibilities; creates a motivating team environment; provides consistent feedback via one-on-one and/or team meetings; mentors, coaches, recognizes and rewards employee performance; offers opportunity and develops employees to meet their full potential.
Physical Requirements
The employee must occasionally lift and/or move up to 10 pounds.
Security and Conduct
All employees are to follow prescribed security procedures, policies and banking regulations to ensure strict compliance with all regulations, the safety and well-being of the bank and its employees. In addition, adherence to the BSA policies and procedures designated to the position and the ability to recognize and appropriately report suspicious activity to the BSA Officer are an important component of each job. Any information acquired through the business of the bank is to be treated as strictly confidential information not to be improperly divulged to unauthorized individuals. The Bank's objective is to provide customers and the communities we serve with high quality personalized service, innovative products and sound financial assistance, creating challenging career opportunities for our employees and a work environment that encourages their input and continued development. We maintain a professional atmosphere for our customers as well as for our employees and expect all employees to adhere to the code of ethics and dress code at all times. It is the policy of the Bank that employees maintain a working environment that encourages mutual respect, promotes civil and congenial relationships among employees and is free from all forms of harassment and violence. Overall compliance with the Bank’s policies, security and codes of conduct are equally important in meeting overall performance objectives of the position.
Disclaimer
This job description is intended to describe the general nature and level of the work being performed by employees in this position. It is not intended to be a complete list of all responsibilities, duties, and skills required for this job classification. Managers may, at their discretion, assign or reassign duties and responsibilities to this job at any time.
Position Summary
The Vice President, Compliance & CRA Officer will work under the direction of the Chief Risk Officer. Responsible for the Bank’s compliance management and compliance quality control program. Oversees the bank’s adherence to internal policies and procedures as they relate to complying with state and federal regulations. Assesses compliance risk across all bank functions. Responsible for the bank’s vendor management program. Provides compliance training. This position also serves as the bank’s CRA Officer which will ensure adherence to CRA regulations to serve our communities lending needs to include low and moderate income neighborhoods.
Responsibilities
Compliance Officer:
- Responsible for the Bank’s Compliance Management Program. Coordinates, supervises, and supports the Bank's compliance-related programs, such as compliance training, compliance testing and reporting, and contingency planning.
- Monitors proposed and final changes to State and Federal regulations primarily through software such as RegAdvisor Pro and anticipates the impact on the operations of the Bank. Works with business units to implement changes to process as needed.
- Develops and executes the Bank’s Compliance Quality Control Review Program. Program is designed to proactively monitor and ensure the Bank is in compliance with all state and federal regulations. Ensures identified deficiencies have been corrected.
- Responsible for writing all applicable compliance policies and procedures, their distribution, and maintenance of compliance manuals. Oversees the revision, preparation, and dissemination of new and updated compliance standards and procedures.
- Working with the Chief Risk Officer, individual will be responsible for managing all regulatory compliance examinations and compliance related audits at the Bank.
- Through the Chief Risk Officer, informs and advises management and the Bank's Audit Committee of the condition of the Bank's adherence to laws and regulations or pending issues.
- Works closely with Marketing Officer to review and ensure that all advertising, new product development, promotional activities and materials are in compliance.
- Consults with and advises business units and managers affected by compliance issues and regulatory requirements.
- Tracks responses to customer complaints, advises management of status and recommends actions to resolve issues and minimize the Bank's exposure.
- Actively promotes the Bank through participation in various community and industry related activities
- Actively meets with business units on at least a quarterly basis to determine to ensure regulatory issues/questions are being addressed timely
- Performs annual review of compliance training modules provided to all employees within BAI system
- Performs annual review of commercial HMDA data collected to ensure accuracy of data prior to submission.
- Responsible for working closely with Lending to ensure new reporting requirements for HMDA are accurate.
- Responsible for managing the large bank performance standards in preparation for three audit tests relative to lending, investment, and service. Responsible for gathering data and input into QuestSoft for analysis and reporting to senior management. Provides data to help the Bank’s senior management team make strategic decisions to meet their CRA needs and performance.
- Responsible for the Bank’s Community Reinvestment Act (CRA) Program. Specific responsibilities include:
- Identify the credit and community development needs of the bank's assessment area, including low- and moderate-income neighborhoods.
- Develop and implement programs to address these needs. Monitor and report on the bank's CRA performance and compliance.
- Collection and reporting of Small Farm and Small Business Loan information annually for submission by March 1st of the following year. Data points must be accurate.
- Collection and reporting of Community Development loan information annually for submission by March 1st of the following year. Data points must be accurate. Anything under $1 million must be reported as a small business loan. $1 million and over can be reported on a separate schedule specific for filing community development loans.
- Input data such as small business loans, community development loans, donations, and qualified investments into Kadince software.
- Chairperson of the semi-annual CRA Committee – must prepare the materials and take minutes for the semi-annual meeting. Must have good working knowledge of expectations from regulators.
- Prepare annual Public File.
Number of employees supervised: 2
Qualifications
Experience
- Bachelor’s degree (B.A.) from four-year college or university; and
- Seven or more years related experience in banking and compliance; or equivalent combination of education and experience.
- On an ongoing basis, incumbents must maintain knowledge of all compliance issues by compliance certification or equivalent annual training. CRCM professional accreditation is preferred.
- Must be proficient in Microsoft Word, Excel, Outlook, and PowerPoint. Must also be proficient in technology that the Bank uses to execute their specific duties and responsibilities.
- Must have a general knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, and agency rules.
The Village Bank is committed to the policy of providing equal employment opportunities for employment, training, compensation, transfer, promotion, and other aspects of employment for all qualified applicants and employees without regard to sex, race, creed, color, religion, national origin, age, sexual orientation, gender identity or expression, veteran status, physical or mental disabilities, genetics or any other status protected by law.
Core Competencies
Village Banker - Provides the Village Bank experience and delivers on the Preferred Banking Pledge by extending exceptional service to both external and internal customers. Is a respectful, cooperative, and supportive team member. Supports the Bank's overall initiatives in the community through active involvement and participation.
Communication - Uses effective, clear communication and active listening skills with internal/external customers. Shares timely and accurate information to the relevant audience, including appropriate follow-up. Uses a professional tone both orally and in written communications. Respectful of the views and opinions of others.
Problem Solving - Identifies problems and considers contributing factors. Seeks and considers input from others. Recommends alternatives. Exhibits good judgment in decision-making. Implements a timely solution as appropriate.
Initiative - Proactively looks for ways to add value to the customer experience. Makes suggestions for process improvement and workflow efficiency. Takes action when appropriate. Seeks new opportunities to increase job skills and knowledge.
Risk Management - Adheres to and administers BSA, OFAC, anti-money laundering, CIP and security policies and procedures in order to limit risk and exposure to the Bank and its customers. Complies with all Bank policies and government regulations. Performs well in audits, as applicable.
Dependability – Consistently produces a great quality work product. Is accurate and timely. Meets established deadlines. Maintains a positive attendance record by being punctual and reliable.
Management/Leadership (if applicable) - Establishes respect and trust of the staff; exemplifies the behaviors of a Village Banker and shares the Bank's values to inspire the team to work towards the Bank's mission, goals and objectives; defines and delegates responsibilities; creates a motivating team environment; provides consistent feedback via one-on-one and/or team meetings; mentors, coaches, recognizes and rewards employee performance; offers opportunity and develops employees to meet their full potential.
Physical Requirements
The employee must occasionally lift and/or move up to 10 pounds.
Security and Conduct
All employees are to follow prescribed security procedures, policies and banking regulations to ensure strict compliance with all regulations, the safety and well-being of the bank and its employees. In addition, adherence to the BSA policies and procedures designated to the position and the ability to recognize and appropriately report suspicious activity to the BSA Officer are an important component of each job. Any information acquired through the business of the bank is to be treated as strictly confidential information not to be improperly divulged to unauthorized individuals. The Bank's objective is to provide customers and the communities we serve with high quality personalized service, innovative products and sound financial assistance, creating challenging career opportunities for our employees and a work environment that encourages their input and continued development. We maintain a professional atmosphere for our customers as well as for our employees and expect all employees to adhere to the code of ethics and dress code at all times. It is the policy of the Bank that employees maintain a working environment that encourages mutual respect, promotes civil and congenial relationships among employees and is free from all forms of harassment and violence. Overall compliance with the Bank’s policies, security and codes of conduct are equally important in meeting overall performance objectives of the position.
Disclaimer
This job description is intended to describe the general nature and level of the work being performed by employees in this position. It is not intended to be a complete list of all responsibilities, duties, and skills required for this job classification. Managers may, at their discretion, assign or reassign duties and responsibilities to this job at any time.
