Bank Regulatory Compliance Officer Job Description

What does a bank regulatory compliance officer do?

A bank regulatory compliance officer works in the capacity of a financial examiner to ensure that the bank adheres to all governmental regulations and laws. The successful candidate will work with upper management and frontline staff to ensure that the policies and procedures are upheld.

He/she will also be responsible for researching, assessing, and monitoring new developments and updating bank personnel in a timely manner.     

Bank Regulatory Compliance Officer Job Description

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Bank Regulatory Compliance Officer Job Responsibilities

Responsibilities include but are not limited to:

  • maintain current and extensive knowledge of the laws and regulatory guidelines by which the bank is required to comply with
  • act as an integral part of the team regarding knowledge resources for all compliance-related matters
  • monitor compliance programs that have been put in place to ensure adequacy
  • carry out interview reviews and audit of the bank’s compliance program
  • oversee the dissemination of compliance-related information to bank employees to ensure familiarity with compliance requirements
  • collect, analyze, and report on relevant statistics
  • ongoing development and administration of compliance training programs for all employees
  • work with auditors and examiners during regulatory compliance examinations
  • participate in training relating to the job and any other training programs as required
  • comply with bank policies and procedures as well as banking regulations and laws
  • act as the main contact source for outside audit companies
  • liaise with the chief operating officer (COO) to oversee certain compliance procedures and offer risk management advice

Reports to Whom

The bank regulatory compliance officer will report to the AML compliance manager and may be required to work closely with the bank’s COO.

Bank Regulatory Compliance Officer Qualifications (Desired Skills and Experience)

  • undergraduate degree in finance, business or law
  • graduate degree gives a distinct advantage
  • professional certification, such as Certified Bank Compliance Officer (CBCO), Certified Regulatory Compliance Manager (CRCM), or Certified Regulatory and Compliance Professional (CRCP), regarded as an asset
  • minimum of three years’ managerial experience in a financial institution
  • experience working in a fast-paced and dynamic environment
  • ability to read and understand technical and legal language
  • strong mathematical and statistical analysis background
  • ability to multi-task
  • self-motivated with strong leadership abilities
  • strong critical thinking and problem-solving skills
  • excellent oral and written communication
  • exceptional presentation skills
  • strong organizational skills
  • detail-oriented with strong research skills
  • experience in Microsoft Office (Word, Excel, PowerPoint, Project)
  • confidentiality and sound business judgment
  • exercised discretion when performing duties assigned
  • occasional travel may be required
  • position requires sitting for long periods 

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