Compliance Officer & Internal Audit

At StonehamBank, we work as a team to achieve the fundamental principles of excellence, service, and trust. Our experience has led us to what we are today, a stable institution that has progressed into the future with its own identity.

Banking Opportunities

Compliance Officer & Internal Audit- Stoneham, MA

Full-Time

Position Summary:

Reporting directly to the Senior Vice President, Risk Management Officer, the Compliance Officer assumes responsibilities for the managing of risk management, lending compliance, deposit compliance, identity theft, fraud prevention, and audit programs, as well as all other matters requiring regulatory action.

Key Responsibilities:

• Oversees, manages and monitors programs that verify the Bank's compliance with laws, regulations and rules governing operations and product offerings. In addition, oversees and performs periodic compliance monitoring and self-testing to verify that controls are operating effectively. Periodic compliance monitoring includes reviews over the following business areas/functions: Lending related regulations (Federal and Massachusetts) including HMDA, RESPA/TRID, Credit Authorizations (FCRA), Commercial/Construction Lending, Residential Lending, Deposit related regulations (Federal and Massachusetts) including ACH and Electronic Banking, Bank Signage, Bank's Social Media Platforms, and various other deposit and lending related internal control reviews that do not have any regulatory oversight.
• Ensures the Bank complies with all Federal and State regulations. Establishes and maintains ongoing programs to evaluate the Bank's risk management and compliance activities. Advises Bank Management of methods to develop and improve the Bank's regulatory performance and internal operating controls. Assists in maintaining ongoing programs to evaluate the Bank's risk management and compliance, including the Monitoring and Testing Program, Enterprise Risk Management (ERM) and the CoNetrix Compliance Management system activities to ensure all levels of risks are identified and addressed.
• Serves as the Bank's subject matter expert for HMDA who serves as a resource for employees with HMDA responsibilities and is responsible for overseeing that the Bank's HMDA LAR is accurately prepared and documented.
• Assists in managing the risk management program with the reviews of the Bank's policies, procedures and risk assessments. Assesses the Bank's monitoring and testing program and assists Management with implementation and support of products and services, to ensure all levels of risks are identified and addressed. Perform various risk assessments as required. Ensures that risk issues associated with new products and significant changes in existing products are properly evaluated and adequately addressed.
• Oversees and manages the reviews of Bank advertisements and marketing materials and promotional giveaways to ensure they are in compliance with federal regulations and do not pose any financial and/or reputational risk to the Bank.
• Provides guidance and leadership by ensuring department participation on various Bank committees, as requested. Serves as a resource and support to Bank Management and employees on issues or inquiries, as needed.
• Assists in serving as a liaison in managing the internal and external audit functions of the Bank, including consultants. Ensures corrective action is implemented on issues identified. Coordinates, as needed, with the Federal and State regulatory authorities on examinations and other regulatory topics.
• Manages the customer complaint program. Responds to complaints as warranted. Maintains and provides reports to appropriate management and Board Committees.
• Assists in the management of the identity theft program and reviews any customer reported instances of identity theft. Ensures Bank staff have taken the appropriate steps to ensure customer's information and deposit/loan accounts are protected. Maintains and provides reports to appropriate management and Board Committees. Ensures the safeguarding of customer data and Bank information is preserved. Assists with the managing and reporting of data breach incidents to the appropriate committees and management.
• Provides assistance to the Training department to set appropriate training that meets the risk and the regulatory objectives and ensures personnel and the Board of Directors have appropriate levels of training and development to ensure full insight of responsibilities.
• Maintains a high level of knowledge through training, participation in outside seminars and from professional publications and groups to ensure compliance with FDIC laws and regulations; applicable state laws; and such other laws and regulations as may be imposed on the Bank.
• Manages and assists in comprehensive compliance projects being considered or implemented at the Bank. Coordinates the appropriate team to assist in the project while ensuring that proper regulations are met and that the project is completed in a timely manner.
• Participates in the following committees:
• Compliance Committee
• Operations Committee
• CRA/Fair Lending Committee
• Participates in Community Events such as volunteering for local schools, neighborhood associations, government, and/or nonprofit organizations which is part of StonehamBank's Values "SERVICE".
• May participate in Board Meetings from time to time.
• Perform other duties as assigned by Bank Management.

Minimum Qualifications (Education, Experience, and Skills):

• Bachelor degree in Finance, Accounting, Business, Management, related degree or equivalent Bank experience.
• 6-8 years Risk, Audit, and Compliance, deposit and lending experience. CRCM certification desired.
• Strong communication, collaboration, and technical compliance skills. Should be able to work effectively with others at all levels across the organization
• Extensive working knowledge of the compliance risks associated with a banking institution as well as experience working in and/or building effective compliance programs
• Experience reading and interpreting regulations, laws, and statutes
• Exceptional organizational, analytical, and managerial skills.
• Effective communication, presentation and writing proficiencies.
• Strong project management abilities and research skills
• Problem solving skills as well as flexibility and adaptability are of key importance
• Ability to work independently and proactively with a strong desire to effect change

Job Specific Competencies: Quality, Planning, Dependability, Initiative and Results Focus, Regulatory Environment-Financial Services and Risk Management, Interpersonal Skills, Banking Products, Operations (Back Office), Presentation skills and proficiency with MS-Office with particularly strong skills in Word and Excel.

Management Competencies:Managing for performance, managing conflict, decision-making & judgment, people development, strong attention to detail, ability to multi-task while adhering to multiple timely tasks.

• Capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public
• Ability to perform responsibilities with composure under the stress of deadlines /requirements for extreme accuracy and quality and/or fast pace
• Ability to effectively handle multiple, simultaneous, and changing priorities
• Capable of exercising highest level of discretion on both internal and external confidential matters
• Ability to conform to shifting priorities, demands, and timelines through analytical and problem-solving capabilities
• Ability to learn, understand, and apply new technologies, techniques, and procedures
• Ability to elicit cooperation from a wide variety of sources, including senior management, coworkers, and customers
• Project a professional image to maintain credibility with team members
• Ability to manage multiple projects in a detail-oriented manner
• Participates in Community Events such as volunteering for local schools, neighborhood associations, government, and/or nonprofit organizations which is part of StonehamBank's Values "SERVICE".
• May participate in Board Meeting from time to time.

Physical Demands and Work Environment:

Employee will work in a standard office environment and must have the ability to access the Montvale Avenue Office (Main Floor and 2nd Floor) and, at times, the Billerica branch. The ability to use standard office equipment is necessary to maintain the efficiency of the department. Constant use of computer requires good visual ability. Employee may be asked to attend outside training and seminars.

We offer a competitive compensation package including the following:

Medical Insurance with HRA

Dental Insurance

Vision Insurance

401K with matching contributions

Performance Incentive Plan

Flexible Spending Account

Dependent Care

Life, AD&D Insurance

Free Parking

Paid Vacation Personal, Sick, Holiday, Bereavement

Wellness Programs including flu shots and Health Club membership reimbursement (through health insurance)

Voluntary programs including supplemental Short/Long Term Disability and Cancer benefits

Employee Assistance Program (legal, financial, and personal counselling)

On-site and online training classes

Employee Referral Incentive

StonehamBank is an equal opportunity employer and makes employment decisions without regard to race, color, religion, gender, sexual orientation, age, national origin, genetic information, gender identity, disability, marital status, status as a covered veteran, or any other protected status as defined by applicable state and federal laws. EOE / M/F/Disabled/Vet

Member FDIC/Member DIF