Regulatory Compliance Specialist

2 weeks ago


Portage, Michigan, United States gpac Full time

Regulatory Compliance Specialist:

The Regulatory Compliance Specialist plays a crucial role in overseeing various compliance functions, including training, monitoring assessments, policy formulation, and product development across all divisions of the financial institution.

This position is essential in ensuring that the organization upholds a robust and effective compliance management framework by evaluating adherence to financial protection laws and regulations, primarily through conducting regular reviews of relevant processes and protocols.


Regulatory Compliance Specialist Requirements:
Bachelor's Degree

CRCM and/or CAMS certification preferred
7 to 10 years of experience in the banking sector with 3 to 5 years focused on compliance

Proficient computer skills:
Advanced proficiency in Microsoft Excel; Familiarity with Microsoft Word and PowerPoint. Experience with industry-specific software and systems
Strong analytical skills
In-depth knowledge of compliance laws, regulations, and rules including consumer protection laws, TRID-RESPA, UDAAP, FCRA, HMDA, etc. Comprehensive understanding of the Bank Secrecy Act, CRA, and other pertinent regulations is essential.

Regulatory Compliance Specialist Responsibilities:

The Regulatory Compliance Specialist is tasked with maintaining up-to-date knowledge of BSA, AML, and OFAC regulations along with all compliance-related mandates applicable to the bank.

This role will also involve utilizing monitoring systems, maintaining investigation records, and conducting periodic evaluations of departments for compliance adherence.

Prepare BSA/AML Risk Assessments by identifying the risk profile of the institution and analyzing data to better understand and mitigate identified risks.

Oversee the preparation, research, and submission of SARs and CTRs.
This position will participate in the Compliance Committee and the IT Steering Committee.
Assign and oversee annual BSA training and all other compliance training for Board members and staff.
Engage with Examiners and Auditors regarding the BSA program and compliance matters.
Review all initiatives for BSA and compliance-related considerations.
Responsible for evaluating the effectiveness of the Identity Theft Program and providing updates to the Board of Directors.
This role is accountable for monitoring all banking regulations and developing or modifying policies and procedures in response to new or updated regulations.
Will oversee compliance of all disclosures with Federal and State regulations. Review product and service disclosures and marketing materials for adherence to applicable rules.

Conduct due diligence on new MSB applications and establish ongoing monitoring protocols for those MSBs based on risk assessments.

This opportunity includes a competitive compensation and benefits package.

This institution values employee retention and boasts one of the best tenure records in the region, offering a competitive salary and bonus incentive program.



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