What are the responsibilities and job description for the SVP of Compliance position at Gate City Bank?
Location Fargo Corporate Office Job Description: Gate City Bank is seeking an experienced and strategic Senior Vice President of Compliance to lead our enterprise-wide Compliance Management System (CMS) and serve as a trusted advisor across the organization. This senior leadership role reports to the Deputy Chief Risk Officer (DCRO) and plays a critical part in safeguarding the Bank through effective compliance oversight, strong risk management, and proactive alignment with regulatory expectations and industry best practices. The role may manage a team of Senior Compliance Officers, Compliance Officers, and/or Compliance Analysts. ESSENTIAL FUNCTIONS: Oversees and ensures the implementation and administration the Bank’s Compliance Management System (CMS). Maintains an understanding of industry best practices for administering an effective CMS. Maintains a working knowledge of the life cycle of a group of products, services, technology, marketing, operational processes and sales practices and a detailed understanding of the applicable regulatory and corporate compliance requirements (“compliance requirements”). Ensures the compliance requirements are identified and communicated effectively to appropriate team members. Manages the Bank’s BSA/AML OFAC Programs, which includes: Leads, maintains, updates oversees and provides leadership and strategic vision for all aspects of the Bank’s BSA/AML/OFAC Programs in a manner that fulfills the mission and strategic goals of the Bank while complying with state and federal laws related to BSA/AML/OFAC compliance. Management of robust BSA/AML/OFAC Policies, overseeing investigations into suspicious transactions, conducting risk assessments, and providing training on relevant BSA/AML/OFAC topics. Leads the build out of metrics and prepares and presents periodic and ad-hoc reports for the Chief Compliance Officer on program status and risks. Responsible for identifying, assessing, and escalating potential money laundering and reputational risk issues associated with higher risk client types and transaction monitoring. Lead, maintain, update, and oversee the BSA/AML/OFAC systems and models. Trains the organization on key BSA/AML/OFAC risks. May serve as the Bank’s delegate BSA (Bank Secrecy Act) Officer. May serve as the Bank’s delegate OFAC (Office of Foreign Assets Control) Officer. Manages a risk-based Product & Service Compliance Program (“PSCP”) for the life cycle of a group of products, services, technology, marketing, operational processes and sales practices. Activities include but are not limited to: Ensures that the applicable policies, procedures, controls, and training address the compliance requirements. Monitors, analyzes, and ensures that legal, regulatory, and compliance requirement changes are identified and implemented effectively on a timely basis. Develops, maintains, and executes an effective risk-based compliance monitoring and testing program. Develops test programs and the testing methodology and executes monitoring and testing where appropriate. Synthesizes analyses, identifies root cause(s) of potential compliance risk, provides recommendations that influence business solutions and validates resolution. Collaborates effectively with the appropriate 1st, 2nd, and 3rd line functions to ensure that compliance issues are effectively addressed on a timely basis. Design and execute validation where appropriate. Collaborates with business leaders to assess customer complaints, ensure adequate complaint response, and address complaint trends. Conducts due diligence in advance of implementation of a new, expanded, or modified products and services to ensure compliance with legal, regulatory, and corporate requirements. Conducts due diligence in advance of implementation of operational, systems and/or vendor changes to ensure compliance with legal, regulatory, and corporate requirements. Communicates with regulators as part of the Bank’s overall Regulator Engagement Program and participates in the regulatory examination process where applicable. SUPERVISORY RESPONSIBILITY: Carries out supervisory responsibilities in accordance with the Bank’s policies and applicable laws. Responsible for the effective and successful management of labor, productivity, customer obsession and training. Leverage strengths of the team members, help to clarify roles and responsibilities, and develop and implement training programs in order to maximize and reach optimal individual and organizational goals. Responsibilities include interviewing, hiring, training team members; planning, assigning, and directing work; appraising performance; rewarding and disciplining team members; addressing complaints and resolving problems. Ensures staff is kept current on issues affecting job-related duties, responsibilities, and trends on a consistent basis. EDUCATION AND EXPERIENCE: Bachelor’s degree preferred; Minimum 10 years of regulatory compliance experience in banking and/or financial services; Minimum 7 years of management/supervisory experience. CERTIFICATES OR LICENSES: At least one of the following certifications are required Certified Regulatory Compliance Manager certification (CRCM), Certified Anti-Money Laundering Specialist (CAMS). Certified Information Privacy Manager (CIPM)/Certified Information Privacy Professional (CIPP) or similar certification preferred. ADDITIONAL SKILLS: Technical knowledge of banking and compliance with a focus on consumer lending and deposit products and services. Knowledge of federal statutory and regulatory framework, including key consumer and wealth management regulations (e.g., Truth-in-Lending Act, Truth-in-Savings Act, Home Mortgage Disclosure Act, Equal Credit Opportunity Act, Fair Housing Act, Real Estate Settlement Procedures Act, Electronic Funds Transfer Act, Community Reinvestment Act, Federal Trade Commission Act, OCC guidelines and regulations on predatory and abusive lending, privacy, complaint management, cash management, anti-money laundering and other suspicious activities) Project management experience with large scale projects. Appropriate use of technology tools, including Data Analytics, to drive audit effectiveness and efficiency. Ability to influence/motivate others to produce desired results. Well-established reputation and relationships with regulators. Strong ability to work in a complex team environment requiring exceptional communication and organizational skills. Leadership experience in enhancing/managing a compliance risk management program in a fast-growth environment. Working knowledge of bank technology and operating systems. Extensive knowledge of compliance and regulatory concepts, practices and methodologies. Extensive knowledge of risk management principles and practices. Drive a continuous improvement and value-adding culture in the Internal Audit Department. Keep abreast of developments in the internal audit field and adopt changes to drive improvement. Superior analytical and critical thinking skills. Excellent listening, verbal, written and presentation communication skills. Strong influencing and negotiation skills. Passion to help improve operations continuously. At Gate City Bank, we are committed to making a difference for our customers, communities, and team members. You will join a mission-driven organization that values integrity, innovation, and empowering leaders to drive meaningful impact. If you are a forward-thinking compliance leader who thrives in a collaborative environment and is passionate about helping an organization achieve its goals responsibly—this is an exceptional opportunity to lead with purpose. EOE/including Disability/Vets Member FDIC Gate City Bank is growing and creating more employment opportunities to meet our customer's needs For a Better Way of Life.® At Gate City Bank, we are committed to making the lives of our team members better by investing in them with competitive compensation and a comprehensive benefit package. We take pride in providing a fun, fast paced, high energy, and collaborative work environment and have been named by Prairie Business Magazine as one of the 50 Best Places to Work in the region for twelve years in a row. We are excited you are interested in joining the Gate City Bank team. 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