COMPLIANCE OFFICER

 

The Compliance Select program – Officer is designed to provide community banks with their very own regulation focused Compliance or BSA Officer. As the Compliance Select - Officer of your institution, you will have a dedicated individual who will advise your bank regarding the Community Reinvestment Act (CRA), Home Mortgage Disclosure act (HMDA), Unfair and Deceptive Acts and Practices (UDAAP), Fair Lending laws, Deposit or Lending Compliance, or the Bank Secrecy Act (BSA), depending on what your needs may be. The Compliance Select program – Officer will provide best practices for assisting your institution meet its goals and maintaining compliance with related regulatory requirements. With a collaborative approach, the Compliance Select program – Officer level service will allow for communication across an array of bank employees and Compliance Select staff. The program is designed to bring together a network of vast CRA, HMDA, UDAAP, Fair Lending, BSA, Deposit and Lending experience, while providing your institution with the expertise needed to ensure compliance.
As your Compliance Select program – Officer, we will help to oversee compliance regarding your specific regulatory needs. The Compliance Select –Officer responsibilities may include:

  • Maintains an advanced level of expertise and knowledge of the requirement of various laws, regulations, and rulings.
  • Reviews and advises Compliance management on the adequacy of procedures associated with data collection, fair lending, and UDAAP.
  • Provides feedback during new or revised product, service, or market development to ensure compliance.
  • Attends the Compliance Committee, and other applicable committees.
  • Manages all aspects of CRA maintenance such as the CRA Public File, annual CRA Self-Assessment, and qualification of community development loans, servicing, and investments.
  • Provides guidance and support with technical aspects of CRA and HMDA regulations including data collection, preparation, and submission of an accurate CRA and HMDA LAR.
  • Reports the status of the Banks CRA, HMDA, Fair Lending and BSA performance and compliance to management and the Board.
  • Maintains an advanced level of expertise and knowledge of the requirement of various laws, regulations and rulings governing CRA, HMDA or Fair Lending activities.
  • Assist in CRA, HMDA or BSA regulatory exams, internal and external audits, and compliance monitoring reviews.
  • Conducts CRA and HMDA Data Integrity Reviews.
  • Overseeing the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) and Office of Foreign Assets Control (OFAC) programs.
  • Performs review, monitoring, and analysis of various reports, logs, and transaction data to identify trends, unusual activity, and monitor large currency activity.
  • Ensure compliance with deposit and/or lending laws and regulations.
  • Oversee and coordinate the monitoring of account activity for suspicious patterns and conducts suspicious activity report (SAR) investigations and decide when to file suspicious activity reports.
  • Prepare Risk Assessments, as needed.
  • Create and manage action plans in response to audit and exam discoveries and compliance violations.