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Compliance Officer

Department: Risk Management
Reports to: SVP – Chief Risk Officer
Supervises: BSA/Security Officer
Status: Exempt
Level: Level 5
Location(s): Main Office – Sanford, Maine


The Compliance Officer oversees compliance with laws and regulations, as well as serves as the Bank’s CRA, Reg. O, and Red Flag/Identity Theft Officer. Currently this position oversees the Bank Security program along with the BSA/AML program. In addition this position has responsibility for oversight and coordination of the Bank’s internal audit program.

Job Requirements:

  • Bachelor’s degree or equivalent experience
  • Six to Eight years of relevant work experience
  • Extensive knowledge of all financial institution policies and procedures
  • Ability to read, analyze and interpret government regulations, trade journals and legal documents. Must be able to respond to common inquiries from regulatory agencies, courts and outside consultants
  • Strong written and verbal communication skills
  • Superior communication and negotiation skills to communicate across a broad base of internal customers

Strong Leadership and Management skills

Specific Job Functions:

  • Develops, administers and monitors programs that ensure the Financial Institution’s compliance with laws, regulations and rules governing operations and product offerings.
  • Researches federal and state banking laws and regulations, reviews the Financial Institution’s policies and procedures, and ensures Financial Institution compliance with laws and regulations.
  • Ensures that all written procedures contain a component for departmental monitoring of processes and that all monitoring activity is reported to the Compliance Department.
  • Provides Chief Risk Officer with information to accurately determine the Institution’s extent of compliance. Schedules meetings with departments and supervisors, as necessary, to provide information on compliance changes that affect them.
  • Chairs the Bank’s Compliance Committee.
  • Responsible for scheduling compliance audits and report findings to the Chief Risk Officer.
  • Promotes and enhances the corporate culture and fosters the development and implementation or organizational vision, policies and guidelines.
  • Builds constructive and effective relationships to support a collaborative working environment.
  • Conducts interviews and investigates all internal and external fraud complaints.
  • Performs oversight of the Bank’s internal audit and compliance program in coordination with the Bank’s contracted audit firm to ensure effective controls are maintained throughout the Bank and that audit concerns are resolved in a timely manner.
  • Participates in the annual enterprise-wide risk assessment in order to set an appropriate audit and compliance review schedule and scope for the coming year.
  • Communicates audit findings and management recommendations for correction to the Audit Committee of the Board of Directors on a periodic basis.
  • Act as the Bank’s Community Reinvestment Act (CRA) Officer and ensure that the Bank is in compliance with all requirements related to CRA.
  • Oversees the residential loan quality control process.
  • Manages the Bank’s response to complaints regarding consumer compliance and other issues.
  • Exercises the usual authority of a manager concerning performance improvement plans, performance reviews, promotions, salary recommendations, terminations and timecard review for hourly employees. Coaches, develops and inspires staff to maximize their potential.

This Job Description describes the essential functions and qualifications of the job described. It is not an exhaustive statement of all the duties, responsibilities or qualifications of the job. This document is not intended to exclude modifications consistent with providing reasonable accommodations for a disability. This is not a contract.
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