Job Description

The Assistant Consumer Compliance Officer will recommend new policies and procedures to the Consumer Compliance Officer that will permit the Bank to function in a more effective manner, consistent with all legal and regulatory requirements.

Essential Duties and Responsibilities

  • Loans:
  • Examines the Bank’s loan operations and loan files to ensure compliance with regulatory requirements, as well as, consistency with Bank policies and procedures.
  • Reviews and tests loan files, on a recurrent monthly schedule, consistent with the Board-approved “Compliance Monitoring Plan”, to ensure loans are being granted in a manner consistent with loan policy, as well as, to ensure compliance with all consumer safety and soundness laws and regulations, both state and federal.
  • Maintains proper evidence (including works papers) of all tests performed, and reports the results of these tests to his direct supervisor in a timely manner, so that these results may be reported to the Bank’s Compliance Committee and Board of Directors.
  • Follows up on any recommendations or corrective actions called for as a result of these monthly examinations.
  • Visits the Bank’s branches, on an “as needed” basis to examine bank premises (for compliance with “physical” signage requirements and disclosure requirements) and “test” bank personnel (with prepared questionnaires with questions about loan products) on a random basis. Reports the results of these visits to his immediate supervisor.
  • Depository products:
  • Examines the Bank’s depository operations and depository files to ensure compliance with regulatory requirements, as well as, consistency with Bank policies and procedures.
  • Reviews and tests depository products, on a recurrent monthly schedule consistent with the Board-approved “Enhanced Consumer Compliance Testing Program”, to ensure depository accounts are being opened and maintained in a manner consistent with account opening policy and procedures, as well as, to ensure compliance with all consumer safety and soundness laws and regulations, both state and federal.
  • Maintains proper evidence (including works papers) of all tests performed, and reports the results of these tests to his direct supervisor in a timely manner, so that these results may be reported to the Bank’s Compliance Committee and Board of Directors.
  • Follows up on any recommendations or corrective actions called for as a result of these monthly examinations.
  • Visits the Bank’s branches, on an “as needed” basis to examine bank premises (for compliance with “physical” signage requirements and disclosure requirements) and “test” bank personnel (with prepared questionnaires with questions about depository products) on a random basis. Reports the results of these visits to his immediate supervisor.
  • Policies and Procedures:
  • Assists in developing operating policies and procedures that will ensure compliance with all legal and regulatory compliance requirements.
  • Assists in analyzing operational problems and develops procedures for their resolution.
  • Responsible for recommending changes in documents and/or procedures to comply with regulatory changes and/or to increase efficiency.
  • Meets with officers and other key staff regularly (at committee meetings assigned by his supervisor or at the request of his supervisor) to communicate policies and goals, including participating actively in the monthly Operations Meetings.
  • Assists in the implementation of internal controls.
  • Reviews and updates, with the Bank’s Compliance Officer, operations manuals and procedures.
  • Assists the Compliance Officer, in other related duties, as assigned.
  • Legal Cases:
  • Receives and reviews legal matters on behalf of the bank, including but not limited to, subpoenas, writs of garnishments, notices of levy, etc.
  • Takes operational steps to ensure legal requests are responded to on a timely basis.
  • Maintains separate files and a log for each respective legal case, documenting the bank’s response to each.
  • Monitors, when necessary, accounts to ensure proper action was taken (i.e. freezing an account, closing an account, etc.)
  • Primary “liaison” with the bank’s general counsel as to these legal cases. 

Compliance Duty Acknowledgement

I understand and acknowledge that, in addition to the duties outlined in this job description, I am also responsible for making sure that my duties are performed in full compliance with all of the Bank’s rules, and with all of the state and federal regulations to which the bank is subject. I understand that knowledge of, and adherence to, the bank’s Bank Secrecy Act/Anti-Money-Laundering/OFAC Program is an important part of my job performance and will be considered a factor for job evaluations as well as promotions, and that ongoing BSA/AML/OFAC training will be required during my employment. I agree to address any and all questions I may have about the bank’s BSA/AML/OFAC Program to the Bank’s Compliance Department.  

 Qualifications:

  • 1-3 years of experience working on compliance 
  • A bachelor's degree in finance (or related fields) 
  • Proven track record of compliance experience 
  • Knowledge of terms and procedures