TRI-STATE BANK OF MEMPHIS
Conducts regulatory policy and compliance audits for management to assess effectiveness of compliance procedures and controls, accuracy and timeliness of documentation generation, and efficiency and knowledge of compliance requirements in operations. Develops, maintains and revises policies and procedures for the Compliance Program. Provide training to the Board of Directors and staff on regulatory laws, internal policies and procedures. Completes scheduled internal monitoring reviews and reports findings to the Audit Committee and the Board. Tracks formal and informal complaints to ensure no systemic issues are present. Plans, directs, implements and oversees the Bank’s BSA/AML Program to include: (1) Know Your Customer; (2) Customer Information Program; (3) Suspicious Activity Reporting; (4) CTR Filing; (5) Recordkeeping requirements; (6) OFAC; and (7) 314a. Ensures directors and employees are made aware of emerging risks, new or amended laws, regulations or agency guidance that impacts the Bank. Manages and oversees all phases of internal/external compliance exams and audits.
- Examines documents, processes and records of departments and interviews associates to ensure timely recording of transactions and compliance with applicable laws and regulations.
- Develops compliance reporting checklists and logs to ensure compliance with regulation and policy is being monitored, inspected and corrected when compliance deficiencies occur.
- Attends compliance schools and information sessions to become knowledgeable and skilled in compliance requirements. Reports requirements to management and may train departmental heads in compliance processes, requirements and controls.
- Develops schedule for implementing compliance requirements and records progress.
- Ensures every compliance requirement is in place and is tested for adherence at least annually.
- Maintains a schedule for annual, semi-annual, quarterly or weekly examination of all compliance requisites and looks for evidence of deficiencies in controls, duplication of effort, timeliness of response to compliance issues or lack of compliance with laws, government regulations, and management policies or procedures.
- Prepares reports of findings and recommendations for management.
- Conducts special studies for management to discover the Bank's potential exposure to existing or pending compliance regulation (e.g. Truth-In-Lending, Truth-In-Savings) and cooperates with the appropriate staff in developing an effective response to the compliance requirements.
- Works cooperatively with all staff to implement and maintain the highest level of conformance to compliance requirements.
- Performs such other compliance tasks and functions as might be deemed appropriate from time to time.
- Performs other duties as assigned.
List of Compliance Audits that cover the Majority of Lending and Operation Regulations
- Fair Housing Act
- Regulation CC-Expedited Funds Availability Act
- Real Estate Settlement Procedures Act
- Regulation E-Electronic Fund Transfers Act
- Homeownership Counseling Act
- Regulations Q and D- Interest on Deposits
- SAFE Act
- Garnishments of Accounts with Federal Benefits
- Flood Disaster Protection Act
- Privacy Act Notices
- Regulation B-Equal Credit Opportunity Act
- Regulation GG-Unlawful Internet Gambling Act
- Fair Credit Reporting Act/Fact Act
- Bank Secrecy Act/Anti-Money Laundering
- Regulation AA-Fair Credit Practices Act
- Office of Foreign Assets Control
- Regulation Z-Truth in Lending Act
- USA Patriot Act
- Consumer Insurance Protection Act
- Regulation BB-Community Reinvestment Act
- Interest on Loans
- Advertisements and Lobby Postings
- Service Members Civil Relief Act
- Minimum Security Devices
- Military Lending Act-this is a new regulation
- Right to Financial Privacy Act
- Regulation DD-Truth in Savings Act
- Branch Closings Act
- Bachelor’s Degree (BS.) or equivalent from four-year college or technical school; five years related experience and/or training in auditing, or compliance requirements for a financial institution; or equivalent combination of education and experience.
- Ability to read, analyze, interpret and communicate regulatory information and technical procedures relating to a bank operation.
- Ability to write reports, business correspondence, and procedure manuals.
- Ability to effectively present information and respond to questions from groups of managers, directors, employees, and customers as required.
- Ability to calculate figures and amounts such as discounts, interest, commissions and percentages.
- Ability to apply concepts of basic algebra and geometry.
- Knowledge of how a bank operates and processes transactions, reports and compliance formats.
Office Environment with typical office equipment
Monday through Friday and during peak season, evening and weekend.