POSITION SUMMARY

Responsible for overseeing the bank’s compliance area in both lending and deposits. Completes various risk assessments, including new products/services risk assessments. Completion of due diligence required for new vendors and/or services; as well as annual vendor reviews as required by FFEIC. Partner with the applicable department heads in planning the audit scope for outsourced internal audits and compliance audits. Assist in communications between the various auditors/examiners and the Bank’s management. Act as the SAFE Act Officer. Manage the results of the outsourced audit work and exams, including findings, conclusions, recommendations, and corrective actions and responses. The employee must be knowledgeable of the applications, bank services and products, the policies, and the procedures of the Bank; and well-versed in regulatory and agencies guidelines.  

REPORTS TO:

Administrative/daily functions - The Senir Lending Officer and VP/Chief Operations Officer

Compliance - President & Board Compliance Committee (Coordinate with the Bank Compliance Committee)

Internal Audit Manager – Board of Directors Audit Committee (Coordinate with the Bank Internal Audit Management Committee)

MAJOR ACCOUNTABILITIES

Manage the bank’s compliance area by keeping abreast of current political and regulatory issues. Review and consult on compliances, policies, and updated compliance issues as needed. Assure policies and procedures are accurate, current and in compliance with federal and state regulations. Develop and maintain a comprehensive internal audit program which includes regular audit procedures and activities for the Bank.

Specific Duties 

· Develop, review, and/or advise on update of policies and changes in law.

· Interpret and disseminate information on regulatory matters to appropriate management.

· Communicate current state of legislative issues to Management and Board.

· Review and offer advice on development/modify bank’s forms and contracts used in bank’s operations.

· Review bank’s Marketing and Advertising Material. 

· Consult with Department Heads to establish the budget for the Compliance Department and the Internal Audit Budget. 

· Annually discuss and approve the department scope and schedule for the upcoming year.

· Perform and review the Bank’s Risk Assessments annually and/or impacted by new services, products, vendors, or changes in regulatory and state guidelines. 

· Complete the Enterprise-wide Risk Assessment.

· Conduct follow up reviews and investigations of irregularities of financial, operations, or regulatory compliance deficiencies noted during audits as requested by senior management or the banks security officer, fraud, embezzlement, and defalcations within the bank. Work in cooperation with law enforcement agencies in any cases as necessary.

· Chair the Bank Compliance & Assist with the Management’s Internal Audit Committees. Set meetings as needed to review & discuss audit/exam findings and recommendations to the appropriate management personnel based on the results of regularly scheduled audits, non-scheduled audits, and any-time, when issues need to be addressed by management and other such matters as deemed necessary. Prepare and maintain minutes for the Compliance Committee meeting to report to the Board Committees. At minimum, meet once each quarter.

· Report to the Directors Audit Committee and assist the committee in the fulfillment of its duties and set as needed: 

a. Annually to discuss and approve the department scope and schedule for the upcoming year and review the Risk Assessment for the bank.

b. Periodically to review and discuss audit findings, update on the status of the Audit schedule, and other such matters as deemed necessary (Minimum Quarterly)

· Answer to the President of the Bank and the Directors Audit Committee. If there are issues when the actions, practices, or motives of the President are in question, you are to report directly to the Chairman of the Board who is also the Chairman of the Audit Committee.

· Develop training for areas that are lacking policies and procedures and make recommendations to the internal audit process to enhance internal controls, operating efficiency and the adequacy of bank records and record keeping.

· Participating member of the Project Team

· Serves on the BSA/SAR Committee; IT Committee, & Privacy Committee

Work Environment 

This job operates in a clerical, office setting. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.  

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.

This is a largely sedentary role; however, some filing is required. This would require the ability to lift files, open filing cabinets and bend or stand on a step stool as necessary.  

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

Guaranty Bank and Trust Co. is an Equal Employment Opportunity Employer. 

Employment policies and decisions on employment and promotion are based on merit, qualifications, performance, and business needs. The decisions and criteria governing the employment relationship with all employees are made in a nondiscriminatory manner, without regard to race, religion, color, national origin, sex, age, physical or mental disability, sexual orientation, gender identity, veteran status, or any other factor determined to be unlawful by federal, state, or local statutes.