Compliance Director

Description

JOB CLASSIFICATION

Full / Part-time: Full-time

Hours Per Week: 40 hours

Location: 175 E. Arizona Ave., El Paso, TX 77902

JOB SUMMARY

Vantage Bank is seeking a dynamic and experienced Compliance Director to lead and enhance our compliance program as we expand our operations, including the development of embedded finance offerings. The Compliance Director will play a critical role in ensuring that the bank adheres to all applicable laws, regulations, and internal policies, while also supporting strategic growth initiatives and innovation in financial services.

ESSENTIAL DUTIES

The duties listed below may not include all responsibilities that the person in this role may be asked to perform. Incumbent may be required to perform other related duties as assigned.

1. Oversee the bank’s compliance with federal and state banking regulations, including CRA, fair lending laws, and other applicable regulations.
2. Ensure compliance with emerging regulations related to embedded finance and digital banking services.
3. Develop and maintain a comprehensive compliance program that addresses the bank’s traditional and innovative service offerings.
4. Develop, implement, and manage a robust Compliance Management System to ensure effective compliance oversight and risk management.
5. Regularly review and update the CMS to reflect changes in regulations, business operations, and strategic direction.
6. Ensure the CMS includes effective policies, procedures, monitoring, and reporting mechanisms.
7. Lead the development, implementation, and maintenance of compliance policies and procedures.
8. Ensure policies are updated to reflect changes in regulations and the bank’s strategic direction, including new products and services.
9. Conduct regular compliance risk assessments and develop strategies to mitigate identified risks.
10. Collaborate with the Chief Risk Officer to integrate compliance risk management into the bank’s overall risk management framework.
11. Design and deliver compliance training programs for employees at all levels, with a focus on emerging areas such as embedded finance.
12. Foster a culture of compliance and ethical behavior throughout the organization.
13. Establish and oversee monitoring systems to ensure ongoing compliance with regulatory requirements.
14. Prepare and present compliance reports to the Board of Directors, Audit Committee, and senior management.
15. Serve as the primary liaison with regulatory agencies and external auditors.
16. Collaborate with internal departments, including IT, Legal, Operations, Marketing, and Product Development, to ensure compliance considerations are integrated into business processes and product development.
17. Support the bank’s strategic initiatives, including digital transformation and embedded finance, by providing compliance guidance and expertise.
18. Stay informed of industry trends and regulatory developments to proactively address potential compliance challenges.
19. Other duties as assigned.

BANK SECRECY ACT (BSA)

All employees of Vantage Bank Texas, herein referenced to as the “Bank”, must comply with the terms of the BSA Policy upon acceptance of this position. The primary responsibility for enforcement of this policy and its operating procedures rests with the BSA/AML/OFAC Officer. However, it is the responsibility of each employee to take the required BSA training modules and become familiar with and adhere to the Bank Secrecy Act, Anti Money Laundering and Office of Foreign Asset Control Policy.

Requirements

QUALIFICATIONS

These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. The requirements listed below are representative of the knowledge, skill and/or ability required to perform the position in a satisfactory manner. Individual abilities may result in some deviation from these guidelines.

• Bachelor’s degree in Business Administration, Finance, Law, or a related field preferred. Advanced degree or professional certification (e.g., CRCM) preferred.
• Minimum of 7-10 years of experience in banking compliance, with a strong understanding of regulatory requirements and industry best practices.
• Prior experience with digital banking, FinTech, or embedded finance is highly desirable.
• Proven leadership skills with the ability to manage and develop a high-performing compliance team.
• Excellent verbal, written, presentation and interpersonal communication skills.
• Excellent analytical, time management, organizational and problem-solving skills with the ability to multi-task and work in a deadline-driven environment.
• Ability to work collaboratively across departments and with external stakeholders.
• Ability to always maintain a high degree of ethical standards and complete confidentiality.

EOE/M/F/D/V