Position Function:
The Compliance Officer is responsible for implementing various aspects of the Bank's Compliance Management System (CMS) to ensure adherence to all applicable federal and state consumer protection laws, regulations, internal policies, and industry standards. This role involves collaborating with various business units to provide guidance, conduct assessments, and ensure the Bank operates in compliance with consumer protection laws.
Performs all duties and interacts with internal and external customers in a manner that is expressly aligned with the Company's Core Values of approaching all actions with a “Voyaging Spirit” and being “Positively Ohana”. Exhibits core competencies that result in consistent delivery of positive Customer Interactions, Empowerment and Ownership and demonstrate key professional and performance skills such as Active Listening, effective Oral and Written Communication, Action and Solution Oriented and Thoroughness.
Primary Accountabilities:
Compliance Management System (CMS):
- Develop, implement, and administer various aspects of the Bank’s CMS to ensure full compliance with all applicable consumer protection laws, rules, and regulations.
Compliance Risk Assessment:
- Facilitate the Bank-wide Compliance Risk Assessment process to identify potential compliance risks.
- Support the development of risk mitigation strategies and compliance controls.
Issue Tracking and Resolution:
- Track and manage identified compliance issues.
- Coordinate timely resolution or corrective actions in line with regulatory requirements.
Regulatory Tracking and Implementation:
- Stay updated on changes to customer compliance laws and regulations that affect the Bank.
- Ensure the timely implementation of regulatory changes and assist with necessary updates to policies, procedures, and practices.
Compliance Policies and Procedures:
- Develop and maintain Bank-wide compliance policies and procedures.
- Assist business units in developing and maintaining department-level compliance processes and procedures.
Compliance Training:
- Design, develop, and implement ongoing compliance training for employees, officers, and directors to ensure awareness and adherence to compliance requirements.
- Tailor training programs to specific roles and responsibilities.
Compliance Monitoring and Testing:
- Conduct compliance monitoring activities, including transaction testing, to identify and address potential weaknesses in operations.
- Provide recommendations for improvements to ensure continued compliance.
CRA and HMDA Reporting:
- Support the preparation and review of CRA and HMDA data to ensure that all required loan, application, and demographic information is accurately reported to regulatory bodies.
- Collaborate with the Compliance team and other business units to ensure that CRA and HMDA reporting is consistent with internal records and regulatory guidelines.
- Conduct data analysis to identify any gaps or inconsistencies in CRA and HMDA reporting, working with business units to resolve any discrepancies.
Compliance Knowledge
- Responsible for having and maintaining a solid understanding of all compliance laws and regulations that affect the Bank and its business operations and keeping abreast of any regulatory changes.
Minimum Qualifications:
Education:
- High School Diploma required.
- Associate’s degree from an accredited higher-level learning institution preferred.
Experience:
- 5 + years of bank compliance, audit, examination, legal, and/or data analysis experience. (An associate’s degree can substitute for 1 year of work experience or Bachelor’s degree can substitute for 2 years of work experience.)
Physical Requirements & Working Conditions:
- Must be able to perform light physical work and to move or lift items including but not limited to boxes, files and papers up to 20 pounds unless otherwise as indicated.
- Must be able to operate and proficiently use standard office equipment, including phone, copier, personal computer and/or other work related mechanical or electronic devices and applications.
- Must be able to clearly communicate verbally and in writing with all internal and external customers. Must also be able to hear sufficiently to engage in daily discussions and interactions.
- Must be able to read and understand bank-related documents.
- Must be able to work in a conventional office setting, involving sitting at a desk or workstation for long periods of time. Must also be able to adapt to different work environments as needed to perform the job.
We are proud to be an EEO/AA employer M/F/D/V. We maintain a drug-free workplace and perform pre-employment substance abuse testing.
