Chief Compliance Officer

ABOUT US:

Hanover Bank, The Bank of YOU – When you love your work and the people you work with, careers are made!

Embracing diversity, valuing inclusion and showing respect are the foundation upon which we build our team. At Hanover Bank, inclusion means respecting personal beliefs and appreciating that we all have perspectives that matter. We are stronger together as we move toward a shared vision of personal and corporate growth.

Whether you are just starting out or a seasoned professional, working for Hanover Bank can launch you on a path to success.

With a passion for excellence, we strive to deliver exceptional service to our clients, foster a positive impact in the communities in which we work and live and help our team members achieve their professional goals.

When you work with us you are empowered, engaged and encouraged to collaborate because every voice matters, every person counts!

Job Summary:

The Chief Compliance Officer (CCO) will provide general direction, leadership, supervision, and guidance to the various departments within banking operations including deposit & loan operations, retail delivery systems, and educational processes/training. The CCO will monitor existing and new regulations pertaining to the financial services industry and ensure the development of policies and procedures that facilitate compliance with relevant federal and state regulations. The CCO will be responsible for providing oversight and management of bank-wide regulatory compliance activities and partnering with departmental officers to maintain a strong culture of enterprise-wide compliance with applicable regulations.

Job Duties and Responsibilities

• Coordinate the development of operating policies and procedures that ensure the safety and soundness of the Bank and comply with federal and state regulations.
• Monitor compliance-related policies and procedures and work closely with line managers to revise and/or strengthen these activities, if necessary.
• Oversee bank-wide compliance including the design, implementation, and maintenance of the Compliance Program ensuring applicable regulatory compliance requirements have been incorporated.
• Coordinate and manage the annual review and other significant updates of Compliance Policies and the Compliance Program for submission to the Board of Directors for review and approval.
• Exercise administrative control over all phases of the Bank’s Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) functions and exercise appropriate authority to ensure compliance with proper policies and procedures.
• Oversee the Bank’s CRA and Fair Lending Compliance Programs. Serve as the Chairperson of the Bank’s Management CRA & Fair Lending Committee. Prepare and present data and report to the BOD on at least an annual basis.
• Serve as Compliance and BSA Committee Chair responsible for coordinating Bank-wide review and management of compliance including the implementation of new products, services, and new and changing regulations.
• Responsible for formally tracking these initiatives through to implementation and documenting these efforts in minutes submitted to the proper Management Committees and the Board of Directors.
• Act as Compliance Liaison with Regulatory Agencies. Coordinate the compliance examinations performed by all regulatory agencies.
• Track and monitor the status of management’s corrective actions regarding compliance issues noted in regulatory examinations, internal audits, departmental compliance reviews, or any other specialized reviews performed.
• Coordinate the delivery of all compliance audit reports performed by internal auditors.
• Track and monitor the status of management’s corrective actions in all compliance audit reports and reviews.
• Ensure all test work outlined in the Compliance Program has been completed and identify any trends and significant exceptions that require follow-up.
• Provide reports regularly, and as directed or requested to keep Executive Management and the Board of Directors informed of the operation and progress of compliance efforts.
• Compile and maintain the Bank's core Compliance Risk Assessment. Review the core assessment factors at least annually to ensure the Assessment reflects current operations and regulatory requirements.
• Coordinate regulatory compliance training requirements ensuring employees and the Board (as required) have adequate knowledge and understanding of applicable regulatory requirements related to their positions and responsibilities.
• Oversees the Bank's Bank Secrecy Act (BSA) Officer and ensures the Anti-Money Laundering (AML) and Office of Foreign Asset Control (OFAC) functions are compliant with State and Federal regulations.
• Oversee the annual completion and submit for BOD approval of all compliance -related risk assessments, including but not limited to:
  • Identity Theft and Red Flags
  • Compliance
  • Fair Lending
  • BSA/AML
  • OFAC
• Annually review, update, and submit for BOD approval of all compliance related Bank policies.
• Perform additional accountabilities as required.

Candidate Requirements:

• 10 years of supervisory experience in either Audit or Compliance.
• Bachelor’s Degree in either Accounting, Finance, or Criminal Justice strongly preferred.

Professional Requirements:

• Subject Matter Expert in consumer compliance regulations and compliance risk management.
• Excellent verbal and communication skills.
• Must be able to interpret regulations and apply them to the Bank’s processing routines.
• Ability to multitask and think outside of the box.
• Ability to work and communicate with all levels of staff, management, regulators, and auditors.
• Must be a problem solver and solution seeker.
• Must be proficient with Microsoft Office Suite.
• Must be flexible.

OUR BENEFITS:

• Medical, Dental and Vision (including HSA, FSA & Commuter Benefits)
• Retirement- 401(k) with Company Match
• Paid Personal Time Off (PTO) & Paid Company Holidays
• Company-paid benefits to include life insurance plus long-term disability
• Year-end bonuses
• Annual Increases
• Employee Events and Contests

Salary: $167,764.50 - $197,370.00

Hanover Bank is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender, national origin, disability or protected veteran status.