What are the responsibilities and job description for the Compliance & CRA Officer position at Wayoh?
Institution: Commercial Bank
Role: Compliance & CRA Officer
Location: Houston, TX (on-site 5 days per week)
Salary: $100,000 - $140,000 (depending on experience)
Role: Our client, a Commercial Bank in Houston is looking for a new Compliance & CRA Officer to join the business. This individual will manage a small team, work with senior leadership and report to the Risk Officer for the Bank.
The Compliance/CRA Officer will ensure compliance with laws, regulations, and professional standards and will be responsible for developing policies, conduct audits, provide guidance, and monitor effectiveness. This person will also oversee Community Reinvestment Act (CRA) requirements and interact with regulators.
Responsibilities:
- Develop, implement, and update policies and procedures to ensure ethical and lawful conduct throughout the bank's operations.
- Stay up-to-date with new legislation, regulations, and directives, and incorporate them into the bank's compliance review procedures.
- Manage the day-to-day operation of the Compliance Program.
- Advise and train bank personnel on compliance matters, including laws, regulations, and internal policies.
- Conduct regular compliance audits, risk assessments, and investigations, and prepare reports with recommendations.
- Ensure the bank meets the requirements of the Community Reinvestment Act (CRA), including preparing CRA public disclosures, coordinating with auditors, and training staff on CRA obligations.
- Continuously monitor the performance of the Compliance Program and take steps to enhance its effectiveness.
- Address alleged violations by evaluating and initiating investigative procedures.
- Collaborate with other departments to address compliance issues and facilitate investigations.
- Interact with regulatory agencies, providing information and submitting required reports and certifications.
- Stay informed about industry changes, trends, and best practices, and assess their potential impact on the bank's processes.
- Develop and implement comprehensive training programs to educated bank staff and board members on relevant laws, regulations and industry standards.
- Create training materials, presentations, and workshops that effectively communicate regulatory requirements and their practical implications for different departments and roles within the bank.
- Maintain documentation of training activities, including attendance records, training materials, and evaluations, to demonstrate compliance efforts and support regulatory audits or inquiries.
Requirements:
- A Degree preferably in a Risk Management, Finance, Accounting or Business Administration field. Holding your CRCM is preferred.
- 5 years of relevant experience working as part of a Compliance program in a Commercial Banking setting.
- Strong knowledge of banking laws and regulations, including the Community Reinvestment Act (CRA).
To explore this role further, please connect with matt@wayoh.co
Salary : $100,000 - $140,000
