Senior Deposit Compliance Specialist
Bank of Botetourt
Buchanan, VA
Full-time
Finance
Posted on November 20, 2024
Bank of Botetourt is posting for a Senior Deposit Compliance Specialist. The Senior Deposit Compliance Specialist is the Bank's primary resources to help ensure the Bank remains compliant with its deposit products and services. The successful applicant who fills this position will have the unique opportunity to be provided with development in order to achieve the Deposit Compliance Officer role within approximately 12 months. Applicants must have the following qualifications in order to apply.
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Baseline knowledge of deposit regulations impacting bank operations preferred
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Highly organized individual
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Excellent communication skills - both oral and written
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Ability to work independently
A Community Partner
For 125 years, Bank of Botetourt has been committed to reaching out within our local communities to do all we can to further the area's overall economic development. As a community partner, we make charitable contributions for education, culture and the arts, social service agencies, charitable activities, community and economic development, and other programs that impact the needs of our communities. By bridging the needs of our local communities with the resources of Bank of Botetourt, we help to improve the quality of life for residents in our service areas. We realize that we can only be as successful as the communities we serve!
Volunteerism
Being a good corporate citizen means being actively involved in the community. Bank of Botetourt employees are encouraged to participate through mentoring, volunteering, sponsoring, and public service. Every day, our employees provide their time and talents for efforts that are important to their local communities - some read to children, others work during parades and festivals, some donate blood, or participate in walk-a-thons. We are proud of the many employees who generously donate so much of their time in support of charitable, civic, and professional organizations.
Essential Functions
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Maintain a current knowledge of applicable deposit compliance laws and regulations.
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Monitor legislative and regulatory developments for communication to senior management and affected departments.
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Work with the Chief Risk & Compliance Officer (CRCO) to coordinate analysis of impact on bank of proposed regulations and develop bank's response letters to proposed regulatory changes.
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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.
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Assist in developing, and periodically reviewing and updating the bank's deposit compliance policies and procedures.
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Work with the Training Officer in the development, implementation, and delivery of employee deposit compliance training as warranted based on job requirements
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Review bank forms, disclosures, and proposed marketing material (including website and social media) for adherence to applicable laws and regulations. Update/make recommendations as needed.
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Monitor and channel any compliance issues to the CRCO
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Assist in preparations for deposit compliance-related examinations and audits by furnishing examiners/auditors with requested information and acting as a contact.
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Review, as needed, any legal documents that are presented to employees for accounts (such as power of attorney, trust, etc.).
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Serve as the Deposit Documentation Specialist
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Work with retail and deposit operations staff to remediate documentation issues.
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Work with staff responsible for quality control of deposit documentation.
Other Duties/Responsibilities:
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Serve as the Business Process Manager (BPM) Administrator assigned with maintaining all software upgrades, training, and support functions.
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Along with the teller support team, participate in providing support to end users as needed.
BANK OF BOTETOURT Expectations:
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Provide superior customer service.
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Represent the bank in a professional manner.
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Represent Bank of Botetourt in community affairs and events.
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Treat all staff members with the utmost respect and cooperation.
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Conduct business to maximize shareholder value.
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Promptly report known or suspected violations of BSA laws, rules, or regulations involving the bank, its customers, or any other parties, or violations of the bank’s BSA compliance program to the BSA Officer or Coordinator.
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Performs other related duties.
Note: This job description is not all-inclusive, and employees are expected to perform all other duties as assigned and directed by management. Job descriptions and duties may be modified when deemed appropriate by management.
BANK OF BOTETOURT promotes an equal employment opportunity workplace, which includes reasonable accommodation of otherwise qualified disabled applicants and employees. Please see your manager should you have any questions about this policy or these job duties.
