VP of Compliance

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Job description

Job Title: Vice President of Compliance
Location: Carmel, Indiana
Reports to: Chief Compliance Officer (CCO)
Department: Compliance
Salary: 125,000
Fully in office

Job Summary:

The Vice President (VP) of Compliance will lead the bank's compliance strategy and ensure adherence to all applicable banking regulations, laws, and industry standards. The VP will develop, implement, and manage the compliance program to mitigate risks and foster a culture of compliance across all functions of the bank. The role requires strong leadership, analytical thinking, and a deep understanding of regulatory requirements within the financial services industry.

Key Responsibilities:

- Strategic Leadership:

- Develop and implement the bank's compliance strategy in alignment with business objectives and regulatory requirements.
- Advise the executive team on regulatory changes and compliance risks.
- Collaborate with various departments to ensure compliance policies are understood and followed.

- Regulatory Oversight:

- Oversee the bank's adherence to federal and state regulations, including but not limited to BSA/AML, OFAC, FDIC, and CFPB requirements.
- Monitor regulatory developments and implement necessary adjustments to policies and procedures.
- Manage audits and examinations from regulatory bodies.

- Risk Management:

- Identify potential compliance risks and develop mitigation strategies.
- Lead internal audits and testing of compliance controls.
- Implement a system of internal controls to ensure the bank's operations comply with all relevant regulations.

- Policy Development:

- Develop, implement, and maintain compliance policies, standards, and procedures across the bank.
- Ensure all employees receive appropriate compliance training and certifications.
- Update compliance manuals and documentation as required by regulatory changes.

- Reporting:

- Report to the Chief Compliance Officer (CCO) and board on compliance matters, risk assessments, and regulatory concerns.
- Provide regular updates and reporting on the effectiveness of compliance programs.

- Team Management:

- Lead and manage the compliance team, providing guidance, mentorship, and development opportunities.
- Ensure proper staffing and training for the compliance department to meet regulatory demands and business needs.

- Relationship Management:

- Serve as the primary liaison with regulatory agencies.
- Work closely with legal counsel to address compliance issues.
- Maintain strong relationships with key stakeholders across the bank to ensure cross-departmental compliance.

Required Qualifications:

- Bachelor's degree in finance, business administration, law, or related field (Master's degree or JD preferred).
- 10+ years of experience in banking compliance, with at least 5 years in a leadership role.
- Strong knowledge of U.S. banking regulations, including BSA/AML, OFAC, FDIC, CFPB, and state-specific regulations.
- Experience with regulatory examinations and audits.
- Proven track record in developing and implementing compliance programs.
- Strong leadership and team management skills.
- Excellent communication and presentation skills.

Preferred Qualifications:

- Certified Regulatory Compliance Manager (CRCM) or similar compliance certification.
- Experience working in community or regional banks.
- Knowledge of risk management frameworks (e.g., COSO, Basel III).

Key Competencies:

- Strategic thinking and problem-solving.
- Strong attention to detail and analytical skills.
- Ability to influence and collaborate with senior leadership.
- Integrity and ethical judgment.

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