Compliance and BSA Officer

Premier Bank
Rock Valley, Iowa
Apr 26, 2023
Jun 25, 2023
Full Time

Position Summary

The Compliance and BSA Officer is responsible for the overseeing the compliance of laws and regulations as they apply to the financial institution. This includes identifying compliance responsibilities, organizing and directing the compliance function, preparing detailed reports for management, Board of Directors and Compliance Committee, and relaying relevant compliance related information to the attention of executive management so that changes in policy and procedures can be made.

The Compliance and BSA Officer must demonstrate strong knowledge and practical understanding of all laws and regulations that apply to the bank. This position requires insight for translating regulatory requirements into operational processes.

Essential Functions of the Compliance and BSA Officer

To perform this job successfully, an individual must be able to perform each essential function and skill satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

  1. Manage the day-to-day activities of the Premier Bank Compliance Program. The Compliance Program shall be responsible for establishing and implementing policies and procedures that ensure the Bank is compliant with laws, rules, and regulations within all its operations, including, but not limited to, the following:
    • Bank Secrecy Act (BSA) and Anti-Money Laundering (AML), including OFAC, CTR, SAR, Customer Identification Program, Customer Due Diligence, and recordkeeping requirements.
    • Deposit Operations Compliance and related regulations.
    • Loan Operations Compliance and related regulations.
    • Community Reinvestment Act (CRA)
    • Bank Advertising Compliance

  2. Research, monitor and plan for compliance with Federal and State banking laws and regulations, including pending or upcoming changes that may affect the Bank’s activities.

  3. Perform and/or oversee compliance risk assessments and internal reviews. Oversee tracking, monitoring, and reporting of current and pending compliance findings and matters requiring attention. Oversee external audits and examinations.

  4. Lead monthly compliance meetings.

  5. Ensure that the annual training provided for all Bank employees adequately covers topics related to compliance with banking laws and regulations.

  6. Maintain complete confidentiality regarding sensitive customer and proprietary information.

  7. Physical presence in the bank is required, including occasional travel between other branch facilities and training functions.

  8. Perform other duties as assigned and requested.

This position description does not list all the duties of the position. You may be asked by supervisors or managers to perform other duties. You will be evaluated in part based upon your performance of the tasks listed in this position description. The employer has the right to revise this position description at any time. The position description is not a contract for employment, and either you or the employer may terminate employment at any time, for any reason, without notice.

Required Skills

  • In depth knowledge of deposit and lending compliance and operations.
  • Attention to detail.
  • Ability and desire to coach and develop employees to meet compliance requirements.
  • Strategic leadership and change management skills.
  • Collaboration with management.
  • Critical Thinking in making sound business decisions.
  • Excellent verbal and written communication skills.
  • Problem Solving.
  • Time Management.

Education and Experience
Recommended – Associates or Bachelor’s Degree in related field
Required - Continuing Education to maintain job knowledge
Recommended –  Three to five years of community banking experience
Required - Proficiency in Microsoft Suites

Premier Bank is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, age, religion, gender, sexual preference or orientation, gender identity, gender expression, national origin, disability, veteran status and all other protected classes.

Member FDIC.