Deposit Operations Compliance Officer
Company: Westamerica Bank
Location: Fairfield
Posted on: January 12, 2021
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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
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