Senior Compliance Officer

Sutton Bank

Location: Ohio

Responsible for establishing and maintaining effective Compliance Managements Systems (“CMS”), including risk assessments, regulatory policies, monitoring and testing, complaints management, and training for all areas of the Bank besides BSA/AML and OFAC. Directly manages Compliance staff supporting both Core and Payments activities, including the Bank Compliance Officer and Payments Compliance Manager.

Qualifications:

Education: Bachelor’s degree in Business Administration or related field. Master’s degree preferred.

Licenses/Certifications: ACAMS preferred.

Experience: Ten plus years of compliance/BSA/AML experience, preferably with a mid-size to large financial institution or a Money Service Business (MSB). Experience working specifically with pre-paid card programs preferred. Or equivalent combination of education and experience.

Essential Functions:

Job Specific:

• Develop and administer periodic formal Compliance risk assessments identifying key inherent risks and corresponding mitigating controls, and assessing the appropriateness and effectiveness of the latter.

• Assist business management in establishing operational controls for mitigating applicable legal and regulatory risks, including by identifying key risk indicators (“KPIs”) and key performance indicators (“KPIs”), and implementing effective quality assurance (“QA”) and quality control (“QC”) practices.

• Partner with Legal and relevant business leaders in mapping business processes to key regulatory and legal risks with the goal of creating sustainable risk control matrices (“RCMs”) for all strategically important Bank activities.

• Support and develop the Payments Risk Committee, the Bank Compliance Committee, and other key Compliance functions.

• Develop and implement written, risk-based Compliance monitoring standards and testing procedures for all strategically important Bank activities.

• Keep abreast of changes in legal and regulatory requirements, and partner with Legal in establishing and effective change management practices.

• In close coordination with Legal, provide ongoing advice to business management on applicable legal and regulatory risks.

• Assist management is remediating known Compliance deficiencies and violations of laws and regulations, including by establishing and implementing appropriate corrective action plans.

• Partner with senior management in establishing and administering an annual Compliance testing plan in coordination with the Bank’s existing annual audit testing.

• Serve as an effective liaison with regulators and auditors.

• Ensure that appropriate and timely regulatory compliance training is provided to relevant Bank staff, including by identifying effective external training, and developing tailored, Bank-specific training, as applicable.

• Mentor and manage Compliance staff, including for purposes of identifying and developing future senior leaders.

• Works with HR to initiate corrective action and/or development plans, evaluate performance and develop staff members.

Knowledge/Skills/Abilities:

• The ability to communicate effectively and clearly, both in verbal and written communications.

• Excellent interpersonal skills.

• Strong knowledge of the business area that is being supported.

• Self-directed and motivated.

• The ability to manage multiple tasks.

• Excellent problem-solving skills.

• Ability to read, analyze and comprehend journals, audit reports, regulations and legal documents.

• Ability to respond to common inquiries or complaints from employees, customers, regulatory agencies, or members of the business community.

• Ability to effectively present information to top management and employee groups.

• Ability to write training documents, policies, procedures and correspondence.