Job Description

Job Description

Job Description

Under the direction of the Chief Risk Officer, drives implementation and continuous improvement of enterprise-wide Compliance Management Programs, with the support of the Compliance, CRA, and BSA/AML/OFAC Officers. Builds collaborative working relationships and partnerships with management to understand core business activities, ensure the effective assessment of compliance risk, and effectively manage those risks in line with the Bank's risk appetite. Assists business lines and supports projects to ensure that regulatory compliance risks and changes are understood, and that internal controls are in place to foster compliance. Reinforces the Bank's strong tone-from-the-top and strong culture of compliance.

Collaborates on the delivery of regulatory training and education at all levels of the organization, and conducts ongoing risk-based monitoring and testing of the institution's compliance with laws and regulations. Develops corrective action plans (as needed) collaboratively with management to minimize violations and prevent systemic compliance issues.

ESSENTIAL DUTIES & RESPONSIBILITIES

• Oversees the enterprise-wide Compliance Programs, policies, and relevant procedures for all aspects of Bank compliance, Fair Lending, Community Reinvestment Act (CRA), Bank Secrecy Act, Anti-Money Laundering (BSA/AML), Office of Foreign Assets Control (OFAC), and any other relevant regulatory requirements. .
• Directs enterprise-wide compliance-related risk assessment practices, and oversees implementation of compliance testing and monitoring, and regulatory change management practices.
• With support of the Compliance & CRA Officers, oversees the Bank-wide Compliance & CRA programs, including Compliance testing & monitoring programs, complaint handling practices & analyses, the development & execution of CRA & Fair Lending Business Plans.
• With support of the BSA Officer, oversees Bank-wide BSA/AML program and monitoring activities in line with the Bank's risk appetite, Know-Your-Customer/ Customer Identification Program (KYC/CIP), customer due diligence, enhanced due diligence, filing of Suspicious Activity Reports (SARs), and Currency Transaction Reports (CTRs).
• Oversees enterprise-wide delivery of compliance related training to all employees in line with their respective roles and job responsibilities.
• Builds collaborative business partnerships with management to understand core business activities, risks, products, and transactions in order to appropriately customize and support the Bank's compliance risk management practices, including for high-risk businesses and customers.
• Strives to become a trusted advisor of management in supporting the Bank's regulatory compliance and business objectives.
• Maintains strong working relationships with vendors and other stakeholders, and communicates effectively with government agencies in collaboration with the Chief Risk Officer, when applicable.
• Effectively manages, develops, and coaches managers & team members in compliance, compliance monitoring, investigation, and reporting processes. Drives engagement, advances a culture of teamwork, transparency, and accountability, while motivating team members to higher levels of performance.
• Ensures ongoing training, personal & professional development, and engagement of all team members.
• Continually stays abreast of emerging or changing Regulatory guidance and expectations. Monitors and proactively adapts Compliance & BSA Programs as a result of emerging changes, ensuring the Bank is well-positioned and future ready. Reports important compliance developments to management and other bank personnel.
• Works with internal auditors and regulatory examiners collecting and preparing requested documents and consulting with same on matters relating to the Bank's Compliance Programs.
• Pursues continuous improvement.
• Perform additional duties as requested or assigned.

JOB REQUIREMENTS

• Highly-motivated and driven professional with deep knowledge of Compliance, BSA/AML, OFAC, and other regulations.
• Strong leadership skills, including experience in managing, developing, and coaching team members, while promoting collaborative teamwork and a spirit of continuous improvement.
• Demonstrated ability to build business partnerships and collaborative working relationships with management and vendors.
• Strong communication and business writing abilities, with the capability to effectively present information to varied audiences, including Board members, executives, employees at all levels, vendors, other stakeholders, and regulators.
• Effective management skills, including the ability to handle multiple projects simultaneously as well as the ability to plan, organize, and ensure the completion of work assignments with appropriate attention to detail.
• Excellent analytical skills, including the ability to define problems, collect data, establish facts and draw valid conclusions.
• Ability to participate and adapt to change in a fast-paced environment.
• Knowledge of bank operations, policies, and procedures.
• Ability to read, analyze and interpret government regulations, trade journals, and legal documents.
• Ability to respond to common inquiries from regulatory agencies, and outside consultants.
• Ability to adhere to Needham Bank's core values: Focus on Customer Relationship, Embrace Change, Work as a Team, Be an Asset to Your Community, Always Learn, and Do the Right Thing

EDUCATION & EXPERIENCE

• Bachelor's Degree or its equivalent
• Minimum of 10-15 years demonstrated Compliance and BSA/AML Compliance experience, and/or relevant compliance experience in the financial services industry
• Experience in supervisory regulatory agencies preferred
• Professional Certification (CRCM, CAMS, etc.)

WORKING CONDITIONS/PHYSICAL DEMANDS

• Normal business office environment

Needham Bank offers a competitive salary and an amazing benefit package for a full-time employee which includes fully paid medical and dental insurance, HRA, 401(k) plan with an 8% bank match, paid time off (PTO), paid holidays, a bonus program, flexible spending accounts, vision service plan, group term life insurance, short and long term disability insurance, tuition reimbursement, and an Employee Assistance Program. We offer a great benefit package to our eligible part-time employees as well.

At NB, we are dedicated to building a diverse, inclusive and authentic workplace - if you are excited about this role, but your past experience doesn't align perfectly with every qualification in the job description, we still encourage you to apply. You may be just the right candidate for this or other roles.

Needham Bank is an Equal Opportunity/Affirmative Action Employer. Needham Bank will provide all applicants for employment and all employees with equal opportunity for employment and promotion regardless of race, color, religion, gender, national origin or ancestry, age, disability, veteran status, military service, sexual orientation, genetic information, or gender identity.

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