Deposit Operations Compliance Officer

Company: Westamerica Bank
Location: Fairfield
Posted on: January 12, 2021

Job Description:

Westamerica is among the largest commercial banks headquartered in California. We are looking for outstanding people to join our winning team. We reached our current strength because our employees, customers, and shareholders believe in the same fundamental goals: Delivering a wide variety of financial services with a superior customer service guarantee.Under general managerial guidance: The Deposit Compliance Officer is responsible for supporting Westamerica's Compliance Management System daily activities ensuring that bank activities comply at all times with appropriate laws and regulations. Ensures that all required deposit-related compliance policies are in force and reviewed periodically for adequateness. Directs and coordinates procedural updates related to compliance issues, participates in business line project and meetings to provide compliance support, manages deposit-related compliance issues and responds to compliance inquiries. Reports compliance issues to the CRA & Compliance Manager and Senior Management.Essential Functions:Research regulatory issues, respond to compliance questions, and provide guidance to business units through the use of regulatory reference materials, regulatory agencies, and profession associations and organizations as appropriate. Ensure assigned business units are in compliance with applicable deposit laws, regulations, and rules, and have appropriate operating controls to mitigate risk. Assists the business units with developing and revising compliance-related practices, procedures and controls where needed.Maintain a strong working knowledge of all deposit-related regulatory compliance laws, regulations, regulatory guidance, and industry best practices by reviewing industry publications, receiving/attending compliance training, and networking with professional advisors, experts and peers.Coordinates the deposit aspects of the compliance management system that ensures proper policies, procedures, risk mitigation activities, and operating controls are followed. Identifies and reports compliance issues and gaps in policies, procedures, and operating controls to leadership to ensure risk is mitigated. Work with business unit partners to resolve and track identified issues to resolution.Reviews product and service disclosures and advertising materials for compliance with applicable rules.Assist with complaints as needed.Participates in the oversight of regulatory compliance audits and/or examinations.Helps to develop, coordinate and facilitate training programs, sessions, and seminars to educate business unit partners about compliance requirements and procedures. Provides and/or assists with conducting compliance training to managers and employees as needed. Participates as a member of the Regulatory Compliance Committee (RCC) and is a member of the Consumer Complaint Committee (CCC). Facilitates and provides guidance during the compliance risk assessment process.Marginal Functions:Provides other compliance assistance as needed.Minimum Knowledge, Prior Work Experience, and Skills Needed to Perform Job Functions:Has progressively more responsible work experience in a financial institution implementing, monitoring and coordinating compliance activities. Bachelor's Degree required. Additional education in financial services regulations or CRCM certification required. Excellent oral, technical, writing, training, interpersonal, analytical, organizational, leadership and presentation skills required.Physical Demands:Travel to CRA outreach events, training seminars and between the Corporate offices and bank branches. Extended periods of telephone use. Moderate PC work. Ability to lift up to 25 pounds.Mental Demands:Read, interpret, analyze laws and regulations that apply to the designated line of business deposit or electronic banking products, and other areas including, but not limited to, Regulations D, E, J, CC, DD and the E-Sign Act, California Consumer Privacy Act, unclaimed property, garnishment, or deposit insurance.Prioritize assignments, ensure resolution of issues within appropriate time-frame to minimize compliance-related risks.Combine knowledge and judgment to identify solutions to complex compliance issues.Equipment/Software Used to Perform Functions:PC, calculator, telephone, scanner, copier, printer, Microsoft Office Decision Making:Identify most appropriate means to ensure revisions are made to documents affected by regulatory changes, employees are trained appropriately on compliance issues, and the CRA & Compliance Manager and Senior Management are well-informed about the status of CRA and compliance.Determine which projects will be delegated.Select personnel to participate in various projects.Financial Impact:Having a successful compliance program is key to Westamerica's strategic plan regarding acquisitions. Growth through acquisitions is a principal means for Westamerica to increase its value and earnings in the future. Being successful in compliance will help ensure successful acquisition efforts.Direct cost savings for legal and consulting fees.Contacts:Internal: Regularly consults and provides support and coordination to bank personnel on compliance issues.Regularly advises CRA & Compliance Manager and Senior Management on compliance issues.External:Periodic contact with examiners of State and federal bank regulatory agencies; manages regulatory examinations.Periodic contact with consultants, manages regulatory consumer compliance audits.Maintains networking communications with compliance professionals to remain current on developing trends within the profession. EOEWestamerica Bank's Privacy Policy may be found at: www.westamerica.com/about/privacy

Keywords: Westamerica Bank, Fairfield , Deposit Operations Compliance Officer, Other , Fairfield, California