Chief Compliance Officer

Posted Date 16 Mar 2024

Experience	10 Years	Salary	167764USD - 197370USD
Job Type	Full Time	Company	Hanover Community Bank
Job Category	Audit	Qualification	BS Finance
Gender	Both	Last Date	14 Jun
Vacancies	1	Remote	No
Location(s)	New York , United States

Job Description

Hanover⠀Bank, The⠀Bank of⠀YOU –⠀When you⠀love your⠀work and⠀the people⠀you work⠀with,⠀careers⠀are⠀made!

Embracing⠀diversity,⠀valuing⠀inclusion⠀and⠀showing⠀respect⠀are the⠀foundation⠀upon which⠀we build⠀our team.⠀At Hanover⠀Bank,⠀inclusion⠀means⠀respecting⠀personal⠀beliefs⠀and⠀appreciating⠀that we⠀all have⠀perspectives⠀that⠀matter. We⠀are⠀stronger⠀together⠀as we move⠀toward a⠀shared⠀vision of⠀personal⠀and⠀corporate⠀growth.

Whether⠀you are⠀just⠀starting⠀out or a⠀seasoned⠀professional,⠀working⠀for⠀Hanover⠀Bank can⠀launch you⠀on a path⠀to⠀success.

With⠀a passion⠀for⠀excellence,⠀we strive⠀to deliver⠀exceptional⠀service to⠀our⠀clients,⠀foster a⠀positive⠀impact in⠀the⠀communities⠀in which⠀we work⠀and live⠀and help⠀our team⠀members⠀achieve⠀their⠀professional⠀goals.

When⠀you work⠀with us⠀you are⠀empowered,⠀engaged⠀and⠀encouraged⠀to⠀collaborate⠀because⠀every⠀voice⠀matters,⠀every⠀person⠀counts!

Job Summary:

The Chief⠀Compliance⠀Officer⠀(CCO) will⠀provide⠀general⠀direction,⠀leadership,⠀supervision,⠀and⠀guidance⠀to the⠀various⠀departments⠀within⠀banking⠀operations⠀including⠀deposit &⠀loan⠀operations,⠀retail⠀delivery⠀systems,⠀and⠀educational⠀processes/training.⠀The CCO⠀will⠀monitor⠀existing⠀and new⠀regulations⠀pertaining⠀to the⠀financial⠀services⠀industry⠀and ensure⠀the⠀development⠀of⠀policies⠀and⠀procedures⠀that⠀facilitate⠀compliance⠀with⠀relevant⠀federal⠀and state⠀regulations.⠀The CCO⠀will be⠀responsible⠀for⠀providing⠀oversight⠀and⠀management⠀of⠀bank-wide⠀regulatory⠀compliance⠀activities⠀and⠀partnering⠀with⠀departmental⠀officers⠀to⠀maintain a⠀strong⠀culture of⠀enterprise-wide⠀compliance⠀with⠀applicable⠀regulations.

Job Duties and Responsibilities

Coordinate⠀the⠀development⠀of⠀operating⠀policies⠀and⠀procedures⠀that⠀ensure the⠀safety and⠀soundness⠀of the⠀Bank and⠀comply⠀with⠀federal⠀and state⠀regulations.
Monitor⠀compliance-related⠀policies⠀and⠀procedures⠀and work⠀closely⠀with line⠀managers⠀to revise⠀and/or⠀strengthen⠀these⠀activities,⠀if⠀necessary.
Oversee⠀bank-wide⠀compliance⠀including⠀the⠀design,⠀implementation,⠀and⠀maintenance⠀of the⠀Compliance⠀Program⠀ensuring⠀applicable⠀regulatory⠀compliance⠀requirements⠀have been⠀incorporated.
Coordinate⠀and manage⠀the annual⠀review and⠀other⠀significant⠀updates of⠀Compliance⠀Policies⠀and the⠀Compliance⠀Program⠀for⠀submission⠀to the⠀Board of⠀Directors⠀for review⠀and⠀approval.
Exercise⠀administrative⠀control⠀over all⠀phases of⠀the⠀Bank’s⠀Bank⠀Secrecy⠀Act (BSA)⠀and⠀Anti-Money⠀Laundering⠀(AML)⠀functions⠀and⠀exercise⠀appropriate⠀authority⠀to ensure⠀compliance⠀with⠀proper⠀policies⠀and⠀procedures.
Oversee⠀the⠀Bank’s⠀CRA and⠀Fair⠀Lending⠀Compliance⠀Programs.⠀Serve as⠀the⠀Chairperson⠀of the⠀Bank’s⠀Management⠀CRA & Fair⠀Lending⠀Committee.⠀Prepare⠀and⠀present⠀data and⠀report to⠀the BOD on⠀at least⠀an annual⠀basis.
Serve⠀as⠀Compliance⠀and BSA⠀Committee⠀Chair⠀responsible⠀for⠀coordinating⠀Bank-wide⠀review and⠀management⠀of⠀compliance⠀including⠀the⠀implementation⠀of new⠀products,⠀services,⠀and new⠀and⠀changing⠀regulations.
Responsible⠀for⠀formally⠀tracking⠀these⠀initiatives⠀through to⠀implementation⠀and⠀documenting⠀these⠀efforts in⠀minutes⠀submitted⠀to the⠀proper⠀Management⠀Committees⠀and the⠀Board of⠀Directors.
Act⠀as⠀Compliance⠀Liaison⠀with⠀Regulatory⠀Agencies.⠀Coordinate⠀the⠀compliance⠀examinations⠀performed⠀by all⠀regulatory⠀agencies.
Track⠀and⠀monitor⠀the status⠀of⠀management’s⠀corrective⠀actions⠀regarding⠀compliance⠀issues⠀noted in⠀regulatory⠀examinations,⠀internal⠀audits,⠀departmental⠀compliance⠀reviews,⠀or any⠀other⠀specialized⠀reviews⠀performed.
Coordinate⠀the⠀delivery⠀of all⠀compliance⠀audit⠀reports⠀performed⠀by⠀internal⠀auditors.
Track⠀and⠀monitor⠀the status⠀of⠀management’s⠀corrective⠀actions in⠀all⠀compliance⠀audit⠀reports⠀and⠀reviews.
Ensure⠀all test⠀work⠀outlined⠀in the⠀Compliance⠀Program⠀has been⠀completed⠀and⠀identify⠀any trends⠀and⠀significant⠀exceptions⠀that⠀require⠀follow-up.
Provide⠀reports⠀regularly,⠀and as⠀directed⠀or⠀requested⠀to keep⠀Executive⠀Management⠀and the⠀Board of⠀Directors⠀informed⠀of the⠀operation⠀and⠀progress⠀of⠀compliance⠀efforts.
Compile⠀and⠀maintain⠀the Bank's⠀core⠀Compliance⠀Risk⠀Assessment.⠀Review the⠀core⠀assessment⠀factors at⠀least⠀annually⠀to ensure⠀the⠀Assessment⠀reflects⠀current⠀operations⠀and⠀regulatory⠀requirements.
Coordinate⠀regulatory⠀compliance⠀training⠀requirements⠀ensuring⠀employees⠀and the⠀Board (as⠀required)⠀have⠀adequate⠀knowledge⠀and⠀understanding⠀of⠀applicable⠀regulatory⠀requirements⠀related to⠀their⠀positions⠀and⠀responsibilities.
Oversees⠀the Bank's⠀Bank⠀Secrecy⠀Act (BSA)⠀Officer⠀and⠀ensures⠀the⠀Anti-Money⠀Laundering⠀(AML) and⠀Office of⠀Foreign⠀Asset⠀Control⠀(OFAC)⠀functions⠀are⠀compliant⠀with State⠀and⠀Federal⠀regulations.
Annually⠀review,⠀update,⠀and submit⠀for BOD⠀approval⠀of all⠀compliance⠀related⠀Bank⠀policies.
Perform⠀additional⠀accountabilities⠀as⠀required.

Requirements:

Candidate Requirements:

10 years⠀of⠀supervisory⠀experience⠀in either⠀Audit or⠀Compliance.
Bachelor’s⠀Degree in⠀either⠀Accounting,⠀Finance,⠀or⠀Criminal⠀Justice⠀strongly⠀preferred.

Professional Requirements:

Subject⠀Matter⠀Expert in⠀consumer⠀compliance⠀regulations⠀and⠀compliance⠀risk⠀management.
Excellent⠀verbal and⠀communication⠀skills.
Must⠀be able to⠀interpret⠀regulations⠀and apply⠀them to⠀the⠀Bank’s⠀processing⠀routines.
Ability⠀to⠀multitask⠀and think⠀outside of⠀the⠀box.
Ability⠀to work⠀and⠀communicate⠀with all⠀levels of⠀staff,⠀management,⠀regulators,⠀and⠀auditors.
Must⠀be a⠀problem⠀solver and⠀solution⠀seeker.
Must⠀be⠀proficient⠀with⠀Microsoft⠀Office⠀Suite.
Must⠀be⠀flexible.

OUR BENEFITS: