- Administer and monitor the Compliance Management System, including the Fair Lending Program, that ensures the Bank's compliance with all laws and regulations applicable to its operations and product offerings.
- Research, analyze, and draw conclusions related to all federal and state rules and regulations and their applicability to Bank products, services, and systems.
- Provide regulatory updates to all applicable personnel.
- Review required disclosures for required regulatory content.
- Maintain a strong awareness of company goals, regulatory and legislative developments, and industry trends.
- Serve as primary in-house subject matter expert to provide compliance advice and guidance to all bank staff, addressing any compliance questions.
- Chair the Compliance Committee.
- Report on a regular basis to Executive Management and the Board of Directors regarding the status of the Compliance Program. Provide Management with process improvement recommendations, as necessary.
- Oversee all compliance related communication and ensure such communication is comprehensive, accessible, current, and appropriate for all employees.
- Develop, revise, and implement Bank-wide compliance policies and procedures and address various compliance issues.
- Oversee the Compliance Analyst's annual compliance training schedule/program for all bank staff, Management, and the Board of Directors.
- Work with department managers to ensure that compliance topics are covered in procedure manuals.
- Oversee the Compliance Analyst's testing of periodic, in-depth compliance monitoring reviews, issue reports of findings and recommendations to department management, and summary reports to Executive Management and the Board of Directors.
- Serve as the Bank's representative to Federal and State regulators with respect to Bank compliance, including management of regulatory compliance examinations. Assemble information for examinations, conduct post-examination follow up, prepare responses to examination reports, and oversee corrective actions.
- Assist department managers to make improvements to operating procedures or systems to correct any operational deficiencies found in internal reviews and audits, or regulatory examinations.
- Review Seattle Bank marketing advertisements and marketing materials. Review prior to publication to ensure compliance to federal and state laws. Keep a tracking log of all approved advertisement and marketing materials.
- Review Seattle Bank's complaint log and also review third-party vendor and FinTech Partner complaints and perform trend analysis that is reported to Audit Committee.
- Supervises the Bank's record retention program.
- Chair the CRA Committee with reports to the Audit Committee.
- Maintain the bank's Community Reinvestment Act program.
- Provide annual CRA training and communication to all staff.
- Ensure that the bank's CRA Public File is current, accurate, and made available as required.
- Maintain the bank's complaint file and public comments relating to the bank's CRA performance.
- Conduct periodic reviews and assessment of CRA activity and compliance and report results to the bank's Compliance Committee, Executive Management, and the Board of Directors.
- Review for accuracy and file the annual CRA LAR before deadline.
- Maintain the bank's Privacy Policies and Procedures.
- Partner with the bank's Human Resources and IT departments to conduct quarterly and annual training of bank staff and provide direction and support as needed.
- Oversee annual distribution of privacy policy to bank customers.
- Bachelor's degree (BA) from a four-year college or university, and five years related experience and/or training; or equivalent combination of education and experience. Work-related experience should consist of an audit or compliance background in financial institution operations, lending, and financial reporting.
- Advanced knowledge of related state and federal banking compliance regulations. CRCM designation preferred.
- Excellent organizational, prioritization, and time management skills, with the ability to provide leadership, supervision and training for employees using positive supervisory techniques to ensure maximum productivity; demonstrated ability in organization and delegation skills.
- Exceptional verbal, written and interpersonal communication skills.
- Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.
- Medical, Dental and Vision insurance
- Employee Assistance Program (EAP), Life Insurance, Long Term Disability, Voluntary Life
- 401K with Bank contribution
- Paid Vacation - 3 Weeks
- Paid Sick Time - 1 hour per 40 hours worked
- Paid Holidays - 10 days
- Stock Options
- Annual Bonus Opportunity
- Transportation Benefits
- And fun, extra perks such as company socials and lunches, team development activities, bank sponsored volunteer opportunities, paid volunteer hours, quarterly incentive awards, and professional development opportunities.
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Compliance Officer - Seattle, United States - Seattle Bank
Description
Who We Are
Seattle Bank is a locally owned, digitally driven financial institution that provides personal, business and partner banking services and the website, CD Valet.
Our experienced team and open API, cloud-based core technology platform deliver a boutique bank experience for clients with interwoven personal and business financial needs.
Our highly configurable and scalable tech stack also supports partner banking that enables companies to embed banking transactions into their customer online experience.
Seattle Bank's most recent innovation is CD Valet, a new online marketplace that connects consumers to financial institutions to compare and open Certificates of Deposit (CDs) with the most competitive rates and terms nationwide.
Seattle Bank is a wholly owned subsidiary of Seattle Bancshares, Inc., a privately held bank holding company. Visit Seattle Bank for more information.Position Summary
The Compliance Officer (CO) is jointly responsible for administration and execution of the regulatory compliance program of the bank.
Additional duties include implementing action plans resulting from audit or examination reports, partnering with appropriate staff in the execution of compliance responsibilities, performing research on compliance issues relating to bank products & services, and keeping the bank apprised of regulatory changes.
The CO also ensures Management, and the Board of Directors are continuously informed of all aspects of the bank's compliance activities, including an evaluation of the bank's compliance risk exposure.
Essential DutiesCompliance Management System Administration:
Compliance Communication and Training:
Compliance Reviews and Monitoring:
CRA Program Administration:
Privacy:
We're committed to delivering our promise of peace of mind to our clients. But we're also committed to our team members. We have intentionally designed a culture and work space that are highly collaborative, inclusive and supportive.
We believe in the value of each team member and offer a full range of benefits and perks designed to support both your personal and professional goals.
Our comprehensive benefits program for eligible employees includes:
