Job Overview
The Chief Compliance Officer (CCO) is responsible for overseeing and managing the Bank’s compliance programs, with primary focus on the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), and Office of Foreign Assets Control (OFAC) regulations. The CCO ensures that the institution operates in full compliance with applicable laws, regulations, and regulatory expectations, whilecpromoting a strong culture of compliance and ethical conduct across the organization.
This role serves as an independent control function and reports directly to the Board of Directors (or a designated committee) and/or senior management, as required by regulatory standards.
Key Responsibilities
Compliance Program Oversight
- Develop, implement, and maintain a comprehensive BSA/AML/OFAC compliance program.
- Ensure policies, procedures, and internal controls are aligned with regulatory requirements and
Industry’s best practices.
- Continuously assess and enhance the effectiveness of the compliance framework.
Regulatory Compliance & Governance
- Serve as the primary point of contact with regulators, auditors, and external examiners.
- Provide regular updates and reporting to the Board of Directors and senior management regarding compliance risks, issues, and program effectiveness.
- Ensure timely identification, escalation, and resolution of compliance issues.
Risk Assessment & Monitoring
- Oversee enterprise-wide BSA/AML and sanctions risk assessments.
- Ensure appropriate transaction monitoring systems and controls are in place to detect suspicious activity.
- Monitor high-risk customers, products, services, and geographies.
Suspicious Activity Reporting (SAR) & Investigations
- Oversee the investigation and reporting of suspicious activities.
- Ensure timely and accurate filing of SARs and other regulatory reports (CTR, etc.).
- Maintain effective case management and documentation standards.
OFAC & Sanctions Compliance
- Ensure robust sanctions screening processes for customers, transactions, and counterparties.
- Monitor updates to sanctions lists and ensure timely implementation.
- Investigate and report potential violations in accordance with regulatory requirements.
Training & Culture
- Develop and deliver ongoing compliance training programs for employees and management.
- Promote a culture of compliance and ethical behavior across the institution.
Audit & Testing
- Coordinate independent testing and internal audits of the compliance program.
- Address findings and ensure corrective actions are implemented in a timely manner.
Technology & Systems
- Oversee compliance-related systems (transaction monitoring, sanctions screening, case management tools).
- Ensure systems are appropriately calibrated and periodically validated.
Policy Development
- Maintain and update all compliance-related policies and procedures.
- Ensure alignment with evolving regulatory expectations and business changes.
Qualifications & Experience
- Bachelor’s degree in Finance, Law, Business Administration, or related field (advanced degree preferred).
- Minimum of 10+ years of experience in BSA/AML compliance within the banking or financial services industry.
- Prior experience in a senior compliance leadership role (CCO, BSA Officer, or equivalent).
- Strong knowledge of BSA, USA PATRIOT Act, OFAC regulations, and global AML standards.
- Relevant certifications preferred (e.g., CAMS, CRCM, CFE).
- Preferably CAMS
Skills & Competencies
- Strong leadership and organizational skills.
- Excellent communication and presentation abilities.
- High level of integrity, professionalism, and sound judgment.
- Ability to interact effectively with regulators, Board members, and senior management.
- Strong analytical and problem-solving capabilities.
- Ability to manage complex regulatory environments and evolving risks.
Pay: From $80,000.00 per year
Benefits:
- Dental insurance
- Health insurance
- Life insurance
- Paid time off
- Professional development assistance
- Vision insurance
Work Location: In person
