Compliance Officer
- Employer
- Alerus Financial
- Location
- Minneapolis, Minnesota
- Salary
- Join our team!
Job Details
The Compliance Officer is responsible for providing support, advice and guidance to clients on compliance matters related to the banking division. This position must be familiar with all traditional banking regulations and is responsible for monitoring and tracking laws and regulations that impact the various areas of banking operations and product offerings. This role is also responsible for maintaining a risk-based program to monitor compliance with regulations.
Essential Responsibilities:
Job Function Number 1: Bank Compliance - 80%
- Responsible for monitoring new and changing regulations and working with clients to implement and monitor compliance with banking related regulations.
- Assist in the preparation for scheduled internal and external exams.
- Monitor regulatory developments, examiner priorities and enforcement initiatives and communicate relevant information to clients.
- Provide consulting expertise to business areas regarding questions, interpretations, and implementation of new regulatory requirements
- Work with clients to ensure that new or changed regulations are implemented in a manner so as to minimize compliance risk through changes to policy, procedures or systems
- Partner with clients in identifying training needs and assist when necessary in the development, implementation and facilitation of compliance training programs.
- Review existing programs for improvements and updates needed due to revisions in laws and regulations.
- Collaborate with Internal Audit and Risk Management to review coverage of relevant regulations and make appropriate adjustments to the scope of the compliance monitoring program.
- Manage risk based compliance monitoring which is performed within the first line of defense/business units.
- Conduct and document risk based compliance monitoring reviews for regulatory areas where coverage by first line of defense is not feasible.
- Maintain schedules and documentation of compliance monitoring.
- Report results of compliance monitoring to the chief compliance officer and clients on a periodic basis and work with internal clients to obtain corrective action plans to address findings.
- Develop and/or update compliance related risk assessments through collaboration with appropriate resources.
- Provide established reporting for ERM Committee meetings, including updates on bank regulatory developments and results of compliance monitoring.
- Perform ongoing tasks related to compliance with company-wide regulatory requirements, as necessary, such as CRA and privacy.
Job Function Number 2: Vendor Management - 10%
- Assist with ongoing vendor management processes managed by compliance department.
- Ensure business owners are provided the contract review tools and procedures timely to allow completion of their obligations under the vendor program.
- Alert in house legal counsel to the proposed service/product.
- Ensure that adequate due diligence is performed on new vendors to satisfy the vendor review process.
- Assist with the annual review of critical and tier 1 vendors as identified under the vendor program.
- Facilitate in communicating vendor management expectations to applicable parties
- Ensure executed contracts are sent for imaging into the company's archival system.
Job Function Number 3: Maintain Knowledge of Products and Services; Project Support - 10%
- Understand the areas being reviewed, including, but not limited to, attending meetings and training.
- Maintain current knowledge of company procedures, policies and regulations
- Carry out a program of continuing education
- Obtain and seek out specialized training related to traditional bank products, including self-study materials, conferences, and telephone seminars.
- Serve as a member on project teams for company projects.
- Represent compliance function on company projects to ensure appropriate consideration of applicable laws and regulations.
- Initiate projects related to job functions.
Position Requirements:
Qualifications:
- Bachelor's degree from a college or university; and 4+ years of related experience in a bank or financial institution, preferably in the consumer compliance area; or the equivalent combination of education and experience.
- Professional certification (CPA, CIA, CRCM or other relevant certification) or advanced degree is a plus but not required.
- Working knowledge of traditional banking regulations and banking functions.
- Ability to readily analyze and interpret government regulations
- Ability to perform research independently and work under minimal supervision
- Excellent written and verbal skills
Personal Characteristics:
- Self-starter, quick learner and easily adaptable to change
- Strong attention to detail and accuracy
- Strong organizational skills
- Proven leadership ability
- Ability to problem solve and analyze; make decisions
Physical Demands: (must be met with or without a reasonable accommodation)
- Spend extended periods of time sitting at a desk and using office equipment
- The employee is occasionally required to stand, walk, reach with arms and hands, climb or balance, and to stoop, kneel, crouch or crawl.
- Visional abilities required by this job include close vision
- Will spend most of time in an indoor environment
Alerus Financial is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.
Company
Alerus is a company that will challenge you to be at your best and where your efforts have real, tangible effects. Our culture is one of collaboration, innovation, forward-thinking, and giving back. And, as a growing company with a presence in markets from New Hampshire to Arizona, we offer a broad range of opportunities for you to travel the career path that matches your abilities, interests, and goals.
What is the current company culture like?
While our footprint spans North Dakota, Minnesota, Arizona, New Hampshire, and Michigan, we still operate like a small company. In other words, every single person on our team matters. Our employees create our culture.
What skills, education, and experiences does your ideal candidate(s) have? Each position has their own specific requirements and qualifications. In addition to those, Alerus seeks people who live out our fundamental beliefs every day: do the right thing, cherish people, empower with knowledge, respect everyone, serve with passion, and embrace change.
How would you describe the company leadership/team management? Alerus has a diverse executive and leadership team. Each leader comes with a wealth of experience and knowledge within their field to help their teams succeed. Alerus leaders, including our C*Suite executives, maintain regular communication with employees on company updates and goals.
Where do you see the company/organization in the upcoming years? Alerus has bank and office locations in North Dakota, Minnesota, Michigan, New Hampshire and Arizona. While we continue to serve our clients in these states we also look to grow our national footprint to best serve clients wherever they may live.
What do you feel candidates need to know about the company before applying? Alerus is more than just a bank and offers many products for our clients including personal & business banking, mortgages, wealth management and retirement savings. We continue to grow and expand but still maintain and operate with a small business feel. We would not have continued success without our employees and all the hard work they do to serve our clients with passion.
See the current Alerus job openings below!
- Website
- https://alerus.com/
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