The Vice President of Compliance & Risk Officer plans, conducts, and reviews all bank activities and assesses the internal controls, operations, and administrative functions for efficiency and effectiveness. This person is responsible for the execution of the annual compliance risk assessment, performing credible challenges of line-of-business and operations (first line of defense) risk and control self-assessments, and maintaining the compliance regulatory applicability matrices. This role plays a critical role in the execution of the Bank’s responsibilities to monitor and report compliance-related risks.
Responsibilities:
- Prepare and manage the Risk Assessment by identifying the risk profile of the Bank and analyzing the information to better assess the risks identified and mitigate any gaps in control.
- Manage and administer the Risk and Compliance Self-Assessments.
- Manage and administer the Regulatory Applicability Matrices
- Conduct due diligence on new MSB applications, and establish and direct ongoing monitoring activities for MSBs based upon risk.
- Monitors application systems, maintains investigation files, monitors all bank regulations, policies, and/or procedures for new or updated regulations and disclosures, and conducts periodic assessments of the departments for compliance.
- Responsible for monitoring the effectiveness of the Identity Theft Program and providing updates to the Board of Directors.
- Manage the execution of the annual compliance risk assessment results and management reporting.
- Prepare communication materials and documentation, including methodology descriptions consistent with regulatory guidance.
- Exploring and gaining an understanding of the primary activities of the business, including key processes and risk controls
- Develop mapping of regulations to products and processes.
- Serves on the Compliance committee and meets and discusses with Examiners and Auditors regarding the compliance program.
- Oversee and manage the compliance department.
- Develop and present new compliance training sessions on current and new regulations.
- Review all projects for compliance-related issues.
- Performs other job-related duties or special projects as assigned.
Qualifications:
- Requires a bachelor’s degree. CRCM and/or CAMS preferred.
- 7 to 10 years’ experience in banking with 4 to 6 years of compliance and risk experience.
- Experience with industry-related systems/software.
- Experience with high-risk money services business (MSB) accounts is required.
- Must have strong knowledge of Bank Compliance regulations.
Salary: Up to $150,000
