Senior Compliance Officer

Summary:

Responsible for leading the Bank's overall consumer compliance and community banking related compliance activities, respectively. Those responsibilities encompass managing the Compliance staff and external resources that: (i) provide advisory compliance support and reviews customer-facing communications for adherence to legal and regulatory requirements, and (ii) conduct monitoring and testing on the Bank's consumer banking activities, including third-party managed prepaid and other nationwide payment card programs.

Qualifications:

Education: Bachelor's degree in Business Administration or related field. Master's degree preferred.

Licenses/Certifications: CRCM or other professional certifications preferred.

Experience: Ten (10) plus years of relevant supervisory experience in consumer compliance working at a bank with direct involvement in supporting nationwide payment card activities, coupled with strong knowledge of community banking compliance. Or equivalent combination of education and experience.

Essential Functions:

A: Job Specific:

• Directs and supervises Compliance staff responsible for a wide range of Compliance activities spanning the support of nationwide third party-managed payment card programs, community banking, and monitoring and testing
• Effectively manages multiple third-party resources that serve to augment the Bank's directly employed staff and which collectively comprise a highly-important component of the Bank's overall CMS.
• Develops, maintains, and administers formal Compliance risk assessments, including assessments targeting specific programs and existing and proposed banking activities, and periodic assessments that seek to assess applicable compliance risks across the bank.
• Effectively supervises direct reports, including by identifying appropriate goals for the professional development of staff and recognizing opportunities for further development, along with the need for appropriate remedial action;
• Provides timely and informative ongoing and periodic reporting on applicable compliance risks to Bank management, the Board of Directors, and regulators, respectively;
• Partners effectively with Legal and relevant business leaders in mapping business processes to applicable key risks and assessing control effectiveness;
• Successfully executes lead responsibility in supporting and further developing the Payments Risk Committee and related activities, the overall Bank Compliance Committee, and other key Compliance functions;
• Supervises the Compliance Monitoring and Testing Program, including by overseeing the development of testing standards and ensuring appropriate risk-based coverage of all significant banking activities;
• Keeps abreast of changes in legal and regulatory requirements, and partner with Legal in establishing and effective change management practices;
• In close coordination with Legal, provides ongoing advice to business management on the practical consequences of applicable legal and regulatory risks;
• Assists management is remediating known Compliance deficiencies and violations of laws and regulations, including by establishing and implementing appropriate corrective action plans;
• Partners with senior management in establishing and administering an annual Compliance testing plan in coordination with the Bank's existing annual audit testing;
• Serves as an effective liaison with regulators and auditors;
• Ensures that appropriate and timely regulatory compliance training is provided to all relevant Bank staff and third-party agents, including by identifying effective external training opportunities, and developing and administrating internal training; and
• Mentors junior staff with an eye toward identifying and developing future senior leaders.

Knowledge/Skills/Abilities:

• The ability to communicate effectively and clearly, both in verbal and written communications.
• Excellent interpersonal skills. The ability to establish and maintain effective interpersonal relationships with key business partners both within the Bank and with relevant external parties, including applicable state and federal regulators.
• Strong knowledge of the business area that is being supported.
• Self-directed and motivated.
• The ability to manage multiple tasks.
• Excellent problem-solving skills.
• Ability to read, analyze and comprehend journals, audit reports, regulations and legal documents.
• Ability to respond to common inquiries or complaints from employees, customers, regulatory agencies, or members of the business community.
• Ability to effectively present information to top management and employee groups.
• Ability to write training documents, policies, procedures and correspondence.
• The proven ability to manage and mentor staff effectively.
• A deep and up-to-date understanding of applicable legal and regulatory requirements and supervisory expectations, including expectations for effective Compliance Management Systems (CMS) for a bank that heavily engages in "banking as a service" payment card activities on a nationwide scale.
• A strategic thinker, who possesses the ability to identify Compliance program gaps and opportunities for enhancements along with the ability to manage the existing program.

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