Compliance Officer

Job Summary 

The Compliance Officer’s primary responsibility is to manage the Farmers and Merchants Bank’s Fair Lending Program as well as the supporting regulations such as but not limited to Regulation B, Regulation C, Fair Housing Act, Appraisal and Flood regulations.  This role entails reviewing maintaining and evolving the Bank’s Fair Lending Program and related documents, policies, processes and internal controls to determine exposure related but not limited to fair lending risk factors regarding underwriting, pricing, steering, discriminatory redlining, loan service and loss mitigation, HELOC modifications and marketing of products and services in compliance with federal and state laws and regulations and interagency examination procedures.  

Essential Duties

• Supports the Chief Compliance Officer and the Bank in evolving and strengthening the compliance program in all areas of the program and where support is needed. 
• Maintains in depth working knowledge of appropriate federal and state banking laws and regulations, including commercial/fair lending and community reinvestment requirements, such as but not limited to Regulation B, Fair Housing Act, Regulation C, Fair Credit Reporting Act, Regulation C, Regulation H (appraisal/flood), and Servicemembers Civil Relief.  
• Assesses fair lending risks by conducting annual fair lending risk assessments and ongoing testing and monitoring on a periodic basis. 
• Responsible for administering the fair lending software(s) and interpreting and report results.
• Develops and maintains the fair lending database, ensures accuracy of data collection. 
• Responsible for conducting ongoing compliance monitoring and testing in the areas of responsibility and reporting on the results.  Also, works closely with business units to create meaningful action plans with appropriate measures to lower risk to an acceptable level.
• Conduct review and credible challenge for the first line business units for policies, procedures, key risk indicators, products and services and program related matters.
• Assesses, develops and provides compliance training on relevant topics to meet individual business unit and corporate needs.
• Analyzes and compiles data into meaningful reports for the Board of Directors, Executive Management and the Chief Compliance Officer while adhering to critical deadlines.
• Stays abreast of changes in banking laws and regulations, industry and regulatory trends, and best practices. 
• Conducts outreach activities with community groups and regulatory agencies to identify community development activities. 
• Reviews customer complaints to assess root cause and systemic compliance issues and work with business units to determine action plans. 
• Maintaining knowledge of credit-related laws and regulations to assess emerging and current risks.

• This role is to support management and to enhance the Bank’s compliance management system that aligns to the Bank’s ERM standards and includes risk assessments on key regulations, compliance monitoring and testing, training to business units, marketing and disclosure review, policy and procedure management, complaints program, internal and external reporting, change management, breach management, and exam management.
• While the job description of this role is the primary function, there may be other compliance areas that may require additional oversight as deemed necessary by the Chief Compliance Officer, and the individual must have experience or capability to learn and obtain the expertise to support the activities required. 

Complies with all State and Federal Banking regulatory requirements, including but not limited to: BSA, Anti-Money Laundering OFAC, CIP, Financial Elder Abuse Reporting, Sexual Harassment, Information Security and privacy requirements.  This position will elevate suspicious activity to supervisory staff and/or BSA department.  Completes compliance and other technical training workshops as assigned.

Required Knowledge, Skills and Abilities

• Strong critical thinking, judgment, analytical, and problem-solving skills
• Flexible and adaptable to changes in the regulatory environment and requirements of the Bank. 
• Excellent interpersonal skills with strong ability to manage multiple projects in a fast-paced environment

• Strong working knowledge of lending requirements and other applicable regulations to support the programs

• Strong understanding of banking products, services, and structure and strong relationship building skills to liaise with other business units to ensure processes are in line with required compliance requirements and policies
• Strong team player with an ethical and selfless approach to do what is right for the Bank and team 
• Strong written and verbal communication skills
• Strong active listening abilities and willingness to learn and/or provide advice to foster a strong and cohesive working environment with peers and business units that the team supports
• Respectful with opposing opinions and fosters collaborative interaction in a team environment, and willingness to contribute to team efforts  
• Excellent time management, verbal and written communication skills
• Strong computer skills with MS Office (Excel, Word, Power Point)

Officer Title Eligibility

For qualified positions, the Bank may designate an Officer Title to an employee who seeks and/or meets defined competencies for an eligible position. This position qualifies for the officer title(s) Vice President, First Vice President.

Equipment Operated

• Desk Top Computers 
• Standard Office Equipment (copiers, fax machines)

 Physical Requirements & Work Environment 

• Requires sitting for prolong periods of time.
• Requires lifting of 25 lbs.
• Office setting w/controlled temperature

Education and Experience 

• Bachelor’s Degree or equivalent work experience required 
• Working experience in a regional banking organization is required.
• 10+ years of compliance experience 
• Industry accreditation is preferred, e.g., CRCM
• Strong working knowledge of banking and financial aspects of credit
• Extensive knowledge of state and federal banking laws and regulations
• The ability to work independently, lead and manage a project team, and deal effectively with peers and superiors is essential, as are strong written and oral communications skills.  

This job description is not intended to be all-inclusive, and employees will be required to perform additional related work duties as assigned by their immediate supervisor and/or management.

Farmers and Merchants Bank of Long Beach reserves the right to revise or change job duties and responsibilities as the need arises. This job description does not constitute a written or implied contract of employment.