Deposit Compliance Officer
Deposit Compliance Officer
Bank of Botetourt is seeking a qualified candidate to fill the position of Deposit Compliance Officer. This position will be located in our Customer Care Center located in Buchanan, Virginia and will be responsible for the following:
Maintain a current knowledge of applicable deposit compliance laws and regulations.
Monitor legislative and regulatory developments for communication to senior management and affected departments.
Work with Chief Risk and Compliance Officer (CRCO) to coordinate analysis of impact on bank of proposed regulations and develop bank's response letters to proposed regulatory changes.
Assist in developing, and periodically reviewing and updating the bank's deposit compliance policies and procedures
Research and respond to compliance questions from bank personnel, utilizing CRCO, compliance consultant, compliance library, and regulatory reference materials, regulatory agencies, and professional compliance associates.
Develop, implement, and conduct employee deposit compliance training sessions via seminars, meetings, memos, etc.
Review bank forms, brochures, and disclosures for adherence to applicable laws and regulations.
Monitor and channel any compliance issues to the CRCO.
Assist in preparations for deposit compliance related examinations and audits by furnishing examiners/auditors with requested information and acting as a contact.
Work with deposit operations to perform periodic testing of areas impacted by deposit regulations:
Reg CC holds.
Reg E error resolutions.
Serve as the Deposit Documentation Specialist.
Work with retail and deposit operations staff to remediate documentation issues.
Work with staff responsible for quality control of deposit documentation
Periodically work with the BSA Officer to perform daily account monitoring requirements:
Become proficient with FCRM.
Serve as back-up for BSA account monitoring duties when the BSA Officer is out of the office.
Qualified candidates must have prior banking experience and a strong knowledge of deposit regulations and the ability to read and interpret compliance laws and regulations. In addition, this candidate must have the ability to apply regulatory knowledge to bank workflows and provide guidance to co-workers.
Other qualification necessary to be successful in this position are:
Strong communications skills
Strong time management skills and ability to prioritize projects/duties
Flexible with ability to shift attention to unexpected high priority tasks
Ability to maintain confidentiality
Confident speaking to small groups
Confident working with regulators, auditors, and other professional associates
Confident leading and participating in projects from onset to completion
Ability to prepare and lead training sessions
Ability to perform testing work and report results to management