Description:
Position Summary: The Senior Vice President, Chief Compliance Officer leads the Bank’s enterprise compliance management system and provides strategic oversight of regulatory compliance, CRA, fair lending, HMDA, privacy, vendor management, compliance training, examination readiness, and related legal or regulatory matters. This role advises Senior Management and the Board of Directors on compliance obligations, emerging regulatory expectations, control effectiveness, and corrective action, while maintaining a proactive, risk-based program that supports safe, sound, ethical, and customer-focused banking operations.
Compliance Program Administration:
1. Develop, administer, and continuously improve a risk-based compliance management system aligned with federal and state banking laws, supervisory guidance, internal policies, and Bank risk appetite.
2. Maintain compliance resources, regulatory inventories, policies, procedures, monitoring tools, documentation, and reporting using appropriate technology and recordkeeping practices.
3. Monitor regulatory change, assess operational impact, coordinate implementation, and advise Bank personnel, Senior Management, committees, and business lines on compliance requirements.
4. Review new or modified products, services, delivery channels, marketing materials, disclosures, customer communications, account documentation, loan documentation, digital banking processes, and related controls for compliance.
5. Chair or coordinate the Compliance Committee and provide timely reporting on compliance risk, regulatory developments, monitoring results, complaint trends, corrective actions, and examination readiness.
Legal Matters
1. Manage legal correspondence, including subpoenas, garnishments, levies, IOLTA reporting responsibilities, and related documentation.
2. Coordinate with outside counsel as needed and review third-party legal documents and agreements for the Bank.
3. Provide practical legal and compliance guidance to branch staff and business lines regarding trusts, powers of attorney, account documentation, and related customer matters.
CRA Officer and Program Administration:
1. Develop, maintain, and oversee the Bank’s CRA program, including CRA policy, assessment area obligations, community development goals, performance context, public file requirements, notices, public comments, complaint information, and annual training.
2. Analyze community credit, deposit, service, and development needs and coordinate with business lines to support responsive, complaint, and documented CRA activities.
3. Provide periodic CRA performance reporting, risk assessments, and program updates to Senior Management and the Board of Directors.
4. Coordinate the preparation and filing of annual CRA data with the FFIEC, ensuring accuracy, completeness, and timely submission.
Lending Compliance:
1. Serve as the primary compliance contact for lending-related issues, regulatory examinations, audit findings, monitoring reviews, corrective action plans, and control enhancements.
2. Review loan documentation, disclosures, training materials, policies, procedures, and business processes for compliance with applicable state and federal requirements.
3. Monitor HMDA data collection, data integrity testing, edit resolution, submission readiness, and annual filing coordination.
Deposit Compliance:
1. Serve as the primary compliance contact for deposit-related issues, regulatory examinations, audit findings, monitoring reviews, corrective action plans, and control enhancements.
2. Review account documentation, branch procedures, customer communications, training materials, and operational processes for compliance with applicable state and federal requirements.
3. Partner with branch management to confirm compliance procedures are effective and provide periodic compliance-related in-branch training.
Vendor Management:
1. Lead the Bank’s vendor management strategy and maintain the vendor management program in alignment with applicable third-party risk management guidance, Bank policy, and risk-based oversight expectations.
2. Conduct and document risk assessments, due diligence, ongoing monitoring, contract review coordination, performance oversight, control gap identification, escalation, and risk acceptance for third-party relationships.
3. Maintain vendor management systems, documentation, reporting, and evidence of oversight for critical, high-risk, and customer-information vendors.
Privacy:
1. Maintain the Bank’s privacy policies, procedures, notices, controls, approvals, training, documentation, and annual customer privacy brochure distribution in compliance with applicable privacy requirements.
2. Review new vendors, systems, data uses, service arrangements, and internal processes involving customer or confidential information to assess privacy, confidentiality, information security, contractual, and regulatory requirements.
3. Maintain documentation supporting privacy program reviews, exceptions, issue resolution, and evidence of appropriate safeguards.
Compliance Communication and Training:
1. Develop and maintain an annual compliance training plan, including enterprise-wide and role-specific instruction for consumer compliance, deposit, lending, privacy, CRA, fair lending, complaint management, and third-party risk responsibilities.
2. Serve as the Bank’s liaison with federal and state regulators for compliance examinations and supervisory matters, including preparation, information requests, management responses, and remediation tracking.
3. Oversee compliance-related communications to ensure messaging is accurate, accessible, timely, documented, and suitable for employees, management, customers, regulators, auditors, and the Board.
4. Complete other duties as requested.
Requirements:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements below are representative of the knowledge, skill, and ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.
Education and Experience:
1. Bachelor’s degree in business, finance, accounting, law, risk management, public administration, or related field required, or equivalent combination of education and directly related banking compliance experience.
2. Demonstrated experience leading professional compliance staff, including providing direction, coaching, performance oversight, and support for effective program execution.
3. Minimum of seven years of progressively responsible experience in bank compliance, audit, risk management, regulatory affairs, legal, or related financial services required; or program management experience preferred.
4. Juris Doctor, Michigan Bar admission, CRCM, CAMS, NCCO, or other relevant compliance, audit, risk, privacy, or banking certification preferred.
Computer Skills:
1. Proficiency with Microsoft Office applications, collaboration tools, compliance management systems, document management systems, regulatory research tools, reporting dashboards, secure file-sharing practices, core banking systems, loan origination systems, vendor management platforms, complaint tracking tools, HMDA reporting systems, and compliance monitoring technology.
2. Ability to evaluate technology-enabled processes, including digital banking, workflow automation, data reporting, and vendor-provided tools, for compliance and control considerations.
3. Demonstrate the ability to develop, configure, and effectively use artificial intelligence agents to support workplace responsibilities, improve efficiency, and enhance the quality and consistency of work outcomes.
Physical Demands and Work Environment
The physical demands described here are representative of those that must be met to successfully perform the essential functions of this position. Reasonable accommodations may be made for qualified individuals with disabilities.
While performing the duties of this position, the employee regularly communicates verbally and in writing, uses a computer and standard office equipment, reviews electronic and paper documents, attends meetings, and interacts with employees, customers, vendors, auditors, and regulators. The employee may sit or stand for extended periods and may occasionally walk, reach, bend, handle files, and lift or move up to 25 pounds.
The work environment is generally a professional office setting with moderate noise levels and routine use of technology, electronic records, virtual meetings, and secure information systems.
Equal Opportunity and Accommodation Statement: Bank of Ann Arbor is an equal opportunity employer. Employment decisions are based on qualifications, merit, and business needs. The Bank provides reasonable accommodations to qualified individuals with disabilities and supports a workplace free from discrimination, harassment, and retaliation.
