CAREERS

Job Description

• Job Title: Compliance Officer

• Classification: Full-time

• Reports To: CFO

• FLSA Status: Exempt

• Department: New Horizon Bank

• Review Date: 10/29/2022

Summary:

New Horizon Bank is seeking an experienced compliance professional for a newly created Compliance Officer position, to lead the company's compliance operations, including: Overseeing regulatory compliance with the banks digital bank strategy, Directing and ensuring a sound Compliance Management System (CMS), Managing the regulatory change management process, and Overseeing execution of key compliance programs (such as BSA/AML, Fair Lending, and Privacy) consistent with regulatory and partner bank expectations. The Compliance Officer will support the development of compliance policies and standards, team with business partners to ensure appropriate documentation of operational procedures, oversee key compliance risks and related indicators and thresholds, and challenge business and technology compliance risk self-assessments. Technology is transforming the consumer and small business market, and this is your chance to have a seat at the forefront of these dynamic markets. We are a rapidly growing community bank that is interested in working with several fintech partners to provide lending solutions, deposit accounts and credit cards to businesses and consumers nationwide. The Compliance Officer will report to the Chief Financial Officer and will be responsible for executing risk-based compliance transaction testing for the purpose of independently validating adherence to federal and state regulations including, but not limited to, BSA/AML, Regulation B, FCRA, FACTA, CCPA, SCRA, and UDAAP. In addition, the compliance officer will partner with lines of business throughout the organization as part of assisting with the continued success of the established enterprise-wide compliance program. The successful candidate must have excellent communication skills, an ability to anticipate and deliver on the needs of a fast-paced and innovative business, and the flexibility to simultaneously manage a wide range of projects. This role will be based in Powhatan, Virginia.

Responsibilities

• Test transactions for adherence to company policies and applicable laws, including documenting the testing approach and plan, communication with internal business partners, determining appropriate sample size and coordinating the information request process required for testing completion.
• Evaluate identified issues, including conducting a root cause analysis, and draft recommendations to improve policies, procedures, potential efficiencies, and controls.
• Support risk assessment activities.
• Assist in performing internal Compliance Department audits.
• Perform targeted transaction testing.
• Provide expert regulatory advice and oversight on potential and emerging fair banking risks.
• Analyze and implement changes and enhancements to business line practices based on new and changed regulations, guidance, enforcement actions and industry trends;
• Perform risk assessments on programs and products;
• Draft clear and concise reports of the results of ongoing monitoring and assessment projects and communicate same to Senior Management and Business Line Management;
• Assist in coordinating Internal/External Audits and regulatory examinations;
• Serve as a compliance representative and adviser for assigned new business initiatives and special projects;
• Demonstrate the ability to exercise good judgment in assessing the significance and relevance of identified compliance risks and timely escalation to Senior Management;
• Develop and manage strong working relationships with business units;
• Manage review and monitoring of advertising, marketing, social media, product and business development efforts to ensure compliance with regulations.
• Provide updates on the state of the assigned programs;
• Stay current with the regulatory environment and expectations through discussions with peers, seminars, webinars, roundtables, law firms, bankers associations, etc.
• Prepare compliance risk summaries and analysis.
• Document and prepare final reports for management.
• Prepare documentation requested by third party audit teams to support their reviews
• Oversee and assist department managers with the development or revision of policies, procedures, products, documents and marketing material to ensure compliance with applicable laws, regulations and contractual obligations.
• Work with teammates to ensure maintenance of an effective compliance training program, including appropriate introductory training for new employees as well as ongoing training for all employees and management
• Maintain an annual calendar of scheduled internal compliance testing for each product or service informed by appropriate risk assessments and manage process for suggested remediation and scheduled follow up on areas of opportunity; initiate autonomous compliance investigations as needed
• Manage and evolve the enterprise complaint management process to align with expanding products and services
• Manage relationships with partner bank compliance counterparts and regulators
• Oversee and manage federal regulatory compliance exams and audits; review all external examination findings and coordinate responses with Legal, Senior Managers and business partners as needed
• Support compliance requests made by partnerships.
• Participate in additional projects as needed.

Experience/Knowledge

• BA/BS degree or equivalent.
• Minimum of five (5) years of experience in the banking industry in a compliance role, risk management and/or audit role (bank experience is preferred).
• Minimum of five (5) years of experience with control testing: regulatory compliance, audit, accounting, finance, or similarly related field.
• Demonstrated knowledge of BSA/AML & Sanctions Laws.
• Demonstrated knowledge of banking compliance laws and regulations including ECOA/Regulation B, FCRA, FACTA, SCRA, TILA/Reg Z, TRID, KYC and UDAAP.
• Proficiency in MS Office applications such as Word, Excel and PowerPoint.
• A high level of comfort using and manipulating data sets to identify relevant attributes within testing populations.
• Strong interpersonal and communication skills.
• Comfortable with balancing multiple, competing priorities and changes in scope/direction.
• Comfortable working independently to deliver results.
• Attention to detail and accuracy.
• Desired: Compliance certification(s) including Certified Anti-Money Laundering Specialist (CAMS), ICBA Certified Community Bank Compliance Officer (CCBCO), ABA Certified Regulatory Compliance Manager (CRCM), Certified Risk Professional (CRP) or Certified Internal Auditor (CIA)
• Experience managing the delivery of new consumer credit products or services that involve Information Technology systems changes
• Tech-savvy and innovative thinker who isn’t satisfied with the status quo

Job Type: Full-time

Salary: $65,000.00 - $90,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Health insurance
• Life insurance
• Paid time off
• Vision insurance

Schedule: 8 hour shift M-F

Work Location: One location