Compliance Officer

Seattle⠀Bank is a⠀locally⠀owned,⠀digitally⠀driven⠀financial⠀institution⠀that⠀provides⠀personal,⠀business⠀and⠀partner⠀banking⠀services⠀and the⠀website,⠀CD Valet.⠀Our⠀experienced⠀team and⠀open API,⠀cloud-based⠀core⠀technology⠀platform⠀deliver a⠀boutique⠀bank⠀experience⠀for⠀clients⠀with⠀interwoven⠀personal⠀and⠀business⠀financial⠀needs. Our⠀highly⠀configurable⠀and⠀scalable⠀tech stack⠀also⠀supports⠀partner⠀banking⠀that⠀enables⠀companies⠀to embed⠀banking⠀transactions⠀into their⠀customer⠀online⠀experience.⠀Seattle⠀Bank’s⠀most⠀recent⠀innovation⠀is CD⠀Valet, a⠀new online⠀marketplace⠀that⠀connects⠀consumers⠀to⠀financial⠀institutions⠀to compare⠀and open⠀Certificates⠀of Deposit⠀(CDs) with⠀the most⠀competitive⠀rates and⠀terms⠀nationwide.⠀Seattle⠀Bank is a⠀wholly⠀owned⠀subsidiary⠀of Seattle⠀Bancshares,⠀Inc., a⠀privately⠀held bank⠀holding⠀company.⠀Visit⠀Seattle⠀Bank for⠀more⠀information.

Position⠀Summary

The⠀Compliance⠀Officer⠀(CO) is⠀jointly⠀responsible⠀for⠀administration⠀and⠀execution⠀of the⠀regulatory⠀compliance⠀program of⠀the bank.⠀Additional⠀duties⠀include⠀implementing⠀action⠀plans⠀resulting⠀from audit⠀or⠀examination⠀reports,⠀partnering⠀with⠀appropriate⠀staff in⠀the⠀execution⠀of⠀compliance⠀responsibilities,⠀performing⠀research⠀on⠀compliance⠀issues⠀relating⠀to bank⠀products &⠀services,⠀and⠀keeping⠀the bank⠀apprised⠀of⠀regulatory⠀changes.⠀The CO⠀also⠀ensures⠀Management,⠀and the⠀Board of⠀Directors⠀are⠀continuously⠀informed⠀of all⠀aspects of⠀the⠀bank’s⠀compliance⠀activities,⠀including⠀an⠀evaluation⠀of the⠀bank’s⠀compliance⠀risk⠀exposure.

Essential Duties

Compliance Management System Administration:

• Administer⠀and⠀monitor⠀the⠀Compliance⠀Management⠀System,⠀including⠀the Fair⠀Lending⠀Program,⠀that⠀ensures⠀the⠀Bank’s⠀compliance⠀with all⠀laws and⠀regulations⠀applicable⠀to its⠀operations⠀and⠀product⠀offerings.
• Research,⠀analyze,⠀and draw⠀conclusions⠀related to⠀all⠀federal⠀and state⠀rules and⠀regulations⠀and their⠀applicability⠀to Bank⠀products,⠀services,⠀and⠀systems.
• Provide⠀regulatory⠀updates to⠀all⠀applicable⠀personnel.
• Review⠀required⠀disclosures⠀for⠀required⠀regulatory⠀content.
• Maintain⠀a strong⠀awareness⠀of company⠀goals,⠀regulatory⠀and⠀legislative⠀developments,⠀and⠀industry⠀trends.
• Serve⠀as primary⠀in-house⠀subject⠀matter⠀expert to⠀provide⠀compliance⠀advice and⠀guidance⠀to all⠀bank⠀staff,⠀addressing⠀any⠀compliance⠀questions.
• Chair⠀the⠀Compliance⠀Committee.
• Report⠀on a⠀regular⠀basis to⠀Executive⠀Management⠀and the⠀Board of⠀Directors⠀regarding⠀the status⠀of the⠀Compliance⠀Program.⠀Provide⠀Management⠀with⠀process⠀improvement⠀recommendations,⠀as⠀necessary.

Compliance Communication and Training:

• Oversee⠀all⠀compliance⠀related⠀communication⠀and ensure⠀such⠀communication⠀is⠀comprehensive,⠀accessible,⠀current,⠀and⠀appropriate⠀for all⠀employees.
• Develop,⠀revise,⠀and⠀implement⠀Bank-wide⠀compliance⠀policies⠀and⠀procedures⠀and⠀address⠀various⠀compliance⠀issues.
• Oversee⠀the⠀Compliance⠀Analyst’s⠀annual⠀compliance⠀training⠀schedule/program⠀for all⠀bank⠀staff,⠀Management,⠀and the⠀Board of⠀Directors.
• Work⠀with⠀department⠀managers⠀to ensure⠀that⠀compliance⠀topics are⠀covered in⠀procedure⠀manuals.

Compliance Reviews and Monitoring:

• Oversee⠀the⠀Compliance⠀Analyst’s⠀testing of⠀periodic,⠀in-depth⠀compliance⠀monitoring⠀reviews,⠀issue⠀reports of⠀findings⠀and⠀recommendations⠀to⠀department⠀management,⠀and⠀summary⠀reports to⠀Executive⠀Management⠀and the⠀Board of⠀Directors.
• Serve⠀as the⠀Bank’s⠀representative⠀to Federal⠀and State⠀regulators⠀with⠀respect to⠀Bank⠀compliance,⠀including⠀management⠀of⠀regulatory⠀compliance⠀examinations.⠀Assemble⠀information⠀for⠀examinations,⠀conduct⠀post-examination⠀follow up,⠀prepare⠀responses⠀to⠀examination⠀reports,⠀and⠀oversee⠀corrective⠀actions.
• Assist⠀department⠀managers⠀to make⠀improvements⠀to⠀operating⠀procedures⠀or systems⠀to correct⠀any⠀operational⠀deficiencies⠀found in⠀internal⠀reviews⠀and⠀audits, or⠀regulatory⠀examinations.
• Review⠀Seattle⠀Bank⠀marketing⠀advertisements⠀and⠀marketing⠀materials.⠀Review⠀prior to⠀publication⠀to ensure⠀compliance⠀to federal⠀and state⠀laws. Keep⠀a tracking⠀log of all⠀approved⠀advertisement⠀and⠀marketing⠀materials.
• Review⠀Seattle⠀Bank’s⠀complaint⠀log and⠀also⠀review⠀third-party⠀vendor and⠀FinTech⠀Partner⠀complaints⠀and⠀perform⠀trend⠀analysis⠀that is⠀reported⠀to Audit⠀Committee.
• Supervises⠀the⠀Bank’s⠀record⠀retention⠀program.

CRA Program Administration:

• Chair the⠀CRA⠀Committee⠀with⠀reports to⠀the Audit⠀Committee.
• Maintain⠀the⠀bank’s⠀Community⠀Reinvestment⠀Act⠀program.
• Provide⠀annual CRA⠀training⠀and⠀communication⠀to all⠀staff.
• Ensure⠀that the⠀bank’s⠀CRA Public⠀File is⠀current,⠀accurate,⠀and made⠀available⠀as⠀required.
• Maintain⠀the⠀bank’s⠀complaint⠀file and⠀public⠀comments⠀relating⠀to the⠀bank’s⠀CRA⠀performance.
• Conduct⠀periodic⠀reviews⠀and⠀assessment⠀of CRA⠀activity⠀and⠀compliance⠀and report⠀results to⠀the⠀bank’s⠀Compliance⠀Committee,⠀Executive⠀Management,⠀and the⠀Board of⠀Directors.
• Review⠀for⠀accuracy⠀and file⠀the annual⠀CRA LAR⠀before⠀deadline.

Privacy:

• Maintain⠀the⠀bank’s⠀Privacy⠀Policies⠀and⠀Procedures.
• Partner⠀with the⠀bank’s⠀Human⠀Resources⠀and IT⠀departments⠀to conduct⠀quarterly⠀and annual⠀training⠀of bank⠀staff and⠀provide⠀direction⠀and⠀support as⠀needed.
• Oversee⠀annual⠀distribution⠀of privacy⠀policy to⠀bank⠀customers.

• Bachelor’s⠀degree⠀(BA) from⠀a⠀four-year⠀college or⠀university,⠀and five⠀years⠀related⠀experience⠀and/or⠀training;⠀or⠀equivalent⠀combination⠀of⠀education⠀and⠀experience.⠀Work-related⠀experience⠀should⠀consist of⠀an audit⠀or⠀compliance⠀background⠀in⠀financial⠀institution⠀operations,⠀lending,⠀and⠀financial⠀reporting.
• Minimum⠀of five⠀(5)⠀years’⠀experience⠀must be in⠀audit or⠀compliance⠀with⠀financial⠀institution⠀operations.⠀Experience⠀to include⠀deposit⠀operations,⠀mortgage⠀and⠀consumer⠀lending,⠀data⠀analysis,⠀and⠀management⠀reporting.
• Minimum⠀3-5 years⠀Community⠀Reinvestment⠀Act⠀experience;⠀strategic⠀planning⠀experience⠀preferred.
• Minimum⠀3-5 years⠀of Fair⠀Lending⠀Experience⠀in a⠀financial⠀institution⠀required.
• Advanced⠀knowledge⠀of related⠀state and⠀federal⠀banking⠀compliance⠀regulations.⠀CRCM⠀designation⠀preferred.
• Excellent⠀organizational,⠀prioritization,⠀and time⠀management⠀skills,⠀with the⠀ability to⠀provide⠀leadership,⠀supervision⠀and⠀training⠀for⠀employees⠀using⠀positive⠀supervisory⠀techniques⠀to ensure⠀maximum⠀productivity;⠀demonstrated⠀ability in⠀organization⠀and⠀delegation⠀skills.
• Exceptional⠀verbal,⠀written⠀and⠀interpersonal⠀communication⠀skills.
• Ability⠀to deal⠀with⠀complex⠀problems⠀involving⠀multiple⠀facets and⠀variables⠀in⠀non-standardized⠀situations.