Trust & Wealth Compliance and Reporting Specialist at Peoples Bank ensuring fiduciary compliance and reporting functionality. Collaborating with various departments to maintain regulatory readiness and proper reporting.
About the role
- VP & Compliance Officer III responsible for compliance support at Open Bank. Delivering compliance testing and training while managing regulatory requirements in the financial sector.
Responsibilities
- Support branches and departments by performing compliance research and communicating regulatory requirements in a timely and professional manner.
- Develop and execute periodic, timely, and accurate compliance reviews and transactional testing with minimal supervision. This includes evaluating compliance with banking laws and regulations across all departments, documenting findings, and performing rigorous follow-up to ensure management’s corrective actions are fully implemented and effective.
- Create or draft new or revised compliance policies, procedures, and forms as needed.
- Assist with performing compliance governing tasks such as responding to consumer complaints, reviewing, verifying, and reporting Reg B monitoring of closed, denied, and withdrawn loan applications, and follow up on SAFE Act renewal registration.
- Leads compliance staff in maintaining and understanding the Bank’s online training program and portal, including accurately assigning training courses, monitoring and reporting incomplete training assignments, producing online training reports for management, and serves in a backup capacity with administrative duties.
- Make recommendations for training assignments, and system and program enhancements.
- Develop or update compliance classroom and online training materials, with minimal supervision. Co-teach, or teach on own, new hire compliance orientation and other refresher training in an online or in-person format as assigned.
- Assist in the development and maintenance of the Bank’s Compliance Risk Assessment. This includes gathering data, documenting control effectiveness, and providing support to ensure the assessment accurately reflects the Bank's current regulatory risk profile.
- Assist with finalizing and uploading approved Bank policies, procedures, and compliance-related forms to the policy management system or the Bank’s Intranet for Bank-wide accessibility and use.
- Support CRA goals and initiatives by contributing to CRA service. Active participant with the Compliance Team when reviewing new software programs specific to the Compliance department. Active participant or may lead the Compliance Team on projects or implementing new software programs as requested.
- Maintain current compliance and CRA knowledge by keeping abreast of new and changing regulatory requirements, and internal policies, procedures and practices by means of checking various government and non-government regulatory websites and, use of bank compliance software programs, and attending conferences, seminars and webinars as applicable.
Requirements
- Bachelor’s degree in related field or equivalent experience preferred but not required.
- Minimum eight years’ experience in bank compliance or related field required.
- Ability to retain a broad knowledge of tasks performed in the operations functions, including but not limited to Regulation CC, Regulation D, Truth-in-Savings Act, Regulation E, and Privacy regulations.
- Ability to retain a broad knowledge of lending related compliance knowledge, including but not limited to HMDA, Truth-in-Lending, RESPA, SCRA, SAFE Act, FDPA, and FDCPA.
- Strong written and oral communication skills; ability to communicate effectively and project a professional image when giving and taking information in writing, in person, and over the phone.
- Accurate typing/keyboarding skills; moderate computer skills, including the use of word processing, spreadsheet software applications, presentation software applications, and e-mail.
- Good analytical skills, including the ability to define problems, collect data, establish facts, and draw conclusions.
- CRCM designation preferred.
Benefits
- Medical, Dental, & Vision: Open Bank offers medical, dental, and vision insurance for all full-time employees and their immediate family members. Employees become eligible for insurance benefits on the first of the month following their hire date.
- Life, Accidental Death & Dismemberment, & Long-Term Disability: Open Bank pays 100% of the cost.
- Flexible Spending Account (FSA): Tax-advantaged financial accounts are offered for employees to pay for eligible out-of-pocket expenses (health, dependent care, transit, and parking) with pre-tax dollars.
- 401(k) Retirement Savings Plan: Open Bank matches 100% of the first 6% of employees' contributions. Employees are eligible to participate on the first of the month following 90 days of employment.
- Paid Time Off (PTO): Employees begin to accrue PTO hours at the time of hire to use for vacation, illness, or other personal reasons.
- Employee Assistance Program (EAP): The EAP offers counseling sessions, online tools and resources, and legal and financial guidance for employees and their family.
- Company Paid Lunch: Open Bank provides company paid lunch twice a week.
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