Compliance Associate

POSITION SUMMARY:

The Compliance Associate ensures that the bank’s overall compliance program functions effectively. The role involves supporting policy development, conducting training, preparing regulatory reports, and coordinating with internal departments to maintain consistent adherence to legal and regulatory requirements. The Compliance Associate also works with senior compliance officers to align the bank’s strategies and operations with best practices.

CORE RESPONSIBILITIES:

• Maintain the highest standards of integrity, ensuring full adherence to company policies, procedures, and regulatory requirements.

• Develop and update compliance policies and guidelines based on evolving regulations and internal risk assessments.

• Coordinate and manage compliance projects, including new rule implementations and internal reviews, ensuring timely completion and alignment with strategic objectives.

• Prepare compliance-related reports for regulatory agencies, compiling accurate and comprehensive documentation from various departments.

• Conduct regular and ad-hoc risk assessments to identify compliance vulnerabilities, proposing actionable strategies to mitigate those risks.

• Serve as a liaison between the Compliance Department and other business units, clarifying regulatory obligations and best practices.

• Organize and deliver compliance training sessions for staff, ensuring proper understanding of regulations and internal policies.

• Track and maintain the bank’s master record of compliance policies, including version control and timely communication of policy updates.

• Oversee the documentation of audit findings, remediation plans, and follow-up actions, ensuring that all outstanding items are closed.

• Participate actively in committees (e.g., Community Reinvestment Act [CRA], BSA) and take minutes to document decisions and next steps.

• Other duties as assigned.

SUPERVISORY RESPONSIBILITY:

• This position has no supervisory responsibilities.

QUALIFICATIONS:

Education:

• Education: Bachelor’s degree in Finance, Economics, Accounting, Business Administration, or a related field is preferred.

• Experience: Background in banking operations, risk management, or compliance with familiarity in AML, BSA, OFAC, and related regulations.

• Analytical Skills: Proficiency in data analysis, including Excel and other analytical tools, with the ability to spot detailed trends and anomalies.

• Regulatory Knowledge: Strong understanding of relevant regulatory frameworks and the ability to apply them to daily tasks.

• Communication: Ability to present findings and recommendations clearly and concisely to stakeholders at all levels.

Experience:

• 5 or more years of banking or related experience – in retail banking, audit or compliance.

• At least two years of experience directly relating to Compliance.

Certifications/Licenses:

• None required. A CRCM certification is preferred.

Skills:

• Intermediate skills in Microsoft Word, Excel, Outlook and PowerPoint are required for this position.

• Understanding of banking industry regulations, data privacy laws, and compliance requirements.

• Good verbal and written communication skills to interact with bank staff at all levels.

• Knowledge of Jack Henry Silverlake preferred.

• The ability to learn job or bank specific software applications.

• Ability to conduct research and apply data to improve Compliance Program.

• Ability to learn and perform complex processes to meet specific procedures, policies and bank regulations that govern the company.

• Excellent organizational and time management skills to maintain workflow volume.

WORKING CONDITIONS/PHYSICAL REQUIREMENTS:

Working Conditions:

• Professional Office building

• This position requires occasional local travel.

Physical Demands:

• The ability to sit for long periods of time.

• The ability to see clearly at a distance of 20 inches or less, with or without corrective lenses, to read documents and/or view computer screens.

• The ability to hear, with or without hearing assistant, and talk and to communicate in person and via phone.

• The ability to use hands/fingers to enter, retrieve and/or manipulate data using a keyboard and computer daily.

Pay: $50,000.00 - $60,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Employee assistance program
• Flexible spending account
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Retirement plan
• Vision insurance

Work Location: In person

Salary : $50,000 - $60,000