Assistant Vice President - Compliance and CRA Officer Job at Bay State Bank, Worcester, MA

SUQwK1o3SzVvUFhmTkRQcU52UjVRTTZoblE9PQ==
  • Bay State Bank
  • Worcester, MA

Job Description

Job Description

Company Overview:

Established in 1895, Bay State Bank is an approximately $500MM, Massachusetts-based mutual Bank. As a Bank owned by a mutual holding company, the Bank is effectively governed by its depositors, and its mutual ownership structure allows it to focus on long-term and community impact rather than short-term profits. BSB has seven branch locations in central Massachusetts. BSB is the only remaining Bank originally headquartered in Worcester, Massachusetts: the second largest city in New England. BSB is a value-driven organization committed to international actions and investments that position the Bank as the communities’ preferred choice for Banking.

Position Description:

Ensures compliance with all banking laws, rules, regulations, and prescribed polices/practices/procedures necessary to reduce risk and uphold ethical standards. The AVP Compliance and CRA Officer will play a major role in the Compliance Management System (“CMS”) and will assist with the compliance and risk management monitoring, reporting, and remediation where appropriate. Ensures the proper compliance training needs are identified and provided to the various business units. Additionally, support the Bank’s BSA/AML/CIP/OFAC program as needed.

Key Responsibilities:

  • Assist with the Community Reinvestment Act requirements.
  • Assists with the Vendor Risk Management Program.
  • Tracks regulatory changes, assesses how the changes might affect the Bank, and provides recommendations to Chief Risk Officer about necessary policy and procedural chances.
  • Manages compliance monitoring programs based on internal/external risk assessments, audit findings and exam findings.
  • Works with management to create and implement new monitoring programs throughout the organization as part of the CMS.
  • Identifies regulatory compliance weaknesses throughout the organization and work with management to identify root causes, remediation steps, and tracking of the issues.
  • Composes memos summarizing expectations noted, root causes, and present to management.
  • Contributes to the compliance training program. This may include identifying training courses, webinars, etc; however, it may also include creating compliance and risk related training and providing the training through various methods.
  • Alongside the Chief Risk Officer, completes enterprise-wide compliance related risk assessments, including new/modified products and services.
  • Enhances Enterprise Risk Management framework by authoring and managing policies, procedures, risk assessments, etc.
  • Acts as an internal point of contact for compliance related questions and problems.
  • Attends and participates in the Enterprise Risk Management Committee meetings. This includes but is not limited to attending the committee meetings, presenting monitoring exceptions, training updates, and completing tasks for the committee as appropriate.
  • Assists with the outsourced internal audit function, including the coordination of internal audits with audit firm and internal business unit. Additionally, may be responsible for coordinating the request lists with the business units.
  • Assists with the BSA/AML/CIP/OFAC program when needed. This may include completing Verafin generated alerts, completing and submitting Currency Transaction Reports and Suspicious Activity Reports.

 

Qualifications, Education and Experience:

  • In-depth knowledge of state and federal consumer regulations that affect the Bank. This includes but is not limited to TILA, HMDA, RESPA, UDAAP, TISA, etc.
  • A high degree of interpersonal skills necessary to effectively sell the Bank’s products and services.
  • Able to use considerable discretion, resourcefulness, and persuasiveness to achieve the desired objectives and results.
  • Strong knowledge of other bank services, policies, and procedures.
  • Demonstrates current knowledge regarding compliance with various financial institution regulations and other job essentials.
  • High School diploma or equivalent required.
  • Minimum of 3-5 years of experience working in banking compliance.
  • Bachelor’s degree preferred, but not required.
  • Strong interpersonal skills, problem solving ability and accuracy.
  • Strong written and verbal communication skills .
  • Strong computer skills, knowledge of Microsoft Word and Excel.
  • Demonstrated ability to meet/exceed goals.
  • Ability to work in a fast-paced diversified environment .

Job Tags

Temporary work,

Similar Jobs

Constellation Brands

Harvest Assistant Winemaker - Stonewall Canyon Winery Job at Constellation Brands

 ...especially MS Office applications), and must be at least 21 years of age. Preferred qualifications include previous harvest experience in winery production, ability to communicate in Spanish, able to work independently with minimal supervision, and well-developed wine tasting... 

Five Below, Inc.

Store Asset Protection Associate Part Time Job at Five Below, Inc.

Contribute to shortage reduction/ Investigations - Work closely with the General Manager to ensure that all employees are following policies and procedures - Responsible for maintaining the employee entrance, where applicable. - Keep track of all pac Associate, Part Time...

Peel HR

Experienced Butcher Job at Peel HR

Job Description Job Description Job Description: We are seeking a skilled and experienced butcher to join our team. The ideal candidate will have at least 4 year of experience in the butcher industry and be able to communicate fluently in English. Responsibilities...

BJC HealthCare

Surgical Patient Care Tech-PT Job at BJC HealthCare

 ...hourly rate is based on job qualifications and relevant work experience) Additional Information About the Role ~ Preferred experience...  ...as a CNA, nurse assistant, emergency medical technician, or surgical technician ~ Benefits Eligible ~24 hours per week ~ Days...