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Compliance Officer

Company: Alerus
Location: Grand Forks
Posted on: October 21, 2019

Job Description:

Position Summary:The Compliance Officer is responsible for providing support, advice and guidance to clients on compliance matters related to the banking division.--This position must be familiar with all traditional banking--regulations and is responsible for monitoring and tracking laws and regulations that impact the various--areas of banking operations and product offerings.--This role is also responsible for maintaining a risk-based program to monitor compliance with regulations.Essential Responsibilities:Job Function Number 1:--Bank Compliance - 80%Responsible for monitoring new and changing regulations and working with clients to implement and monitor compliance with banking related regulations.Assist in the preparation for scheduled internal and external exams.Monitor regulatory developments, examiner priorities and enforcement initiatives and communicate relevant information to clients.Provide consulting expertise to business areas regarding questions, interpretations, and implementation of new regulatory requirementsWork with clients to ensure that new or changed regulations are implemented in a manner so as to minimize compliance risk through changes to policy, procedures or systemsPartner with clients in identifying training needs and assist when necessary in the development, implementation and facilitation of compliance training programs.Review existing programs for improvements and updates needed due to revisions in laws and regulations.Collaborate with Internal Audit and Risk Management to review coverage of relevant regulations and make appropriate adjustments to the scope of the compliance monitoring program.Manage risk based compliance monitoring which is performed within the first line of defense/business units.Conduct and document risk based compliance monitoring reviews for regulatory areas where coverage by first line of defense is not feasible.Maintain schedules and documentation of compliance monitoring.Report results of compliance monitoring to the chief compliance officer and clients on a periodic basis and work with internal clients to obtain corrective action plans to address findings.--Develop and/or update compliance related risk assessments through collaboration with appropriate resources.Provide established reporting for ERM Committee meetings, including updates on bank regulatory developments and results of compliance monitoring.Perform ongoing tasks related to compliance with company-wide regulatory requirements, as necessary, such as CRA and privacy.--Job Function Number 2:----Vendor Management - 10%Assist with ongoing vendor management processes managed by compliance department.Ensure business owners are provided the contract review tools and procedures timely to allow completion of their obligations under the vendor program.Alert in house legal counsel to the proposed service/product.--Ensure that adequate due diligence is performed on new vendors to satisfy the vendor review process.--Assist with the annual review of critical and tier 1 vendors as identified under the vendor program.Facilitate in communicating vendor management expectations to applicable partiesEnsure executed contracts are sent for imaging into the company's archival system.--Job Function Number 3:----Maintain Knowledge of Products and Services; Project Support - 10%Understand the areas being reviewed, including, but not limited to, attending meetings and training.Maintain current knowledge of company procedures, policies and regulationsCarry out a program of continuing educationObtain and seek out specialized training related to traditional bank products, including self-study materials, conferences, and telephone seminars.Serve as a member on project teams for company projects.Represent compliance function on company projects to ensure appropriate consideration of applicable laws and regulations.Initiate projects related to job functions.Position Requirements:Qualifications:--------------------------------------------------------Bachelor's degree from a college or university; and 4+ years of related experience in a bank or financial institution, preferably in the consumer compliance area; or the equivalent combination of education and experience.--Professional certification (CPA, CIA, CRCM or other relevant certification) or advanced degree is a plus but not required.--Working knowledge of traditional banking regulations and banking functions.Ability to readily analyze and interpret government regulationsAbility to perform research independently and work under minimal supervisionExcellent written and verbal skillsPersonal Characteristics:--------------------------------------------Self-starter, quick learner and easily adaptable to changeStrong attention to detail and accuracyStrong organizational skillsProven leadership abilityAbility to problem solve and analyze; make decisions---Physical Demands:--(must be met with or without a reasonable accommodation)Spend extended periods of time sitting at a desk and using office equipmentThe employee is occasionally required to stand, walk, reach with arms and hands, climb or balance, and to stoop, kneel, crouch or crawl.Visional abilities required by this job include close visionWill spend most of time in an indoor environment--Alerus Financial is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.

Keywords: Alerus, Fargo , Compliance Officer, Other , Grand Forks, North Dakota

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