CRA and Assistant Compliance Officer
Compliance / Regulatory
Winnebago, IL, USA
To see benefits offered by Foresight Bank, please visit our careers page: Career Opportunities | Foresight Bank.
Organization Overview:
Foresight Bank is the largest, locally owned community bank in Northern Illinois, with twelve offices in the counties of Winnebago, Stephenson, and Kankakee. Foresight Bank is owned by Foresight Financial Group, Inc., an Illinois corporation founded in 1986, a financial holding company established under the Federal Reserve.
Position Summary:
Serves as the Community Reinvestment Act (CRA) Officer and is responsible for managing the CRA Program for Foresight Bank. Assists Compliance Officer in ensuring Foresight Bank is compliant with federal and state banking regulations. Serves on a team to develop, administer, and monitor programs for compliance with laws, regulations, and rules governing operations and product offerings. Exercises discretion and independent judgment involving compliance and regulations with respect to matters of significance.
Primary Responsibilities:
- Assists leadership in ensuring the Bank is in compliance with all banking laws, regulations and bank established internal control standards.
- Performs ongoing compliance monitoring, ensuring that areas with the greatest potential risk receive appropriate testing and review. Makes recommendations for corrective action and provides suggestions for improvement.
- Acts as an internal resource on all compliance-related matters for team members.
- Serves as the Bank’s Community Reinvestment Act (CRA) Officer and is responsible for managing the CRA Program, including but not limited to annual review of the CRA file and preparation for regulatory CRA exams as conducted. This also includes coordinating and leading the quarterly CRA Committee meetings.
- Serves as member and secretary of the Bank’s internal CALC committee.
- Assists Compliance Officer with review and monitoring of disclosures, account statements, notices, advertisements, etc.; and reviewing compliance policies, procedures, and compliance-related risk assessments.
- Assists with implementation of new products and services to ensure the Bank is in compliance with regulatory requirements.
- Assists in ensuring the timely response and documentation of customer complaints.
- May assist with coordinating compliance-related audit and examination information requests, as needed.
- May assist with duties related to Bank Secrecy Act, as needed.
- Maintains current regulatory knowledge through ongoing attendance at conferences and webinars and review of regulatory updates through various channels.
- Maintains compliance with and adhere to all state and federal regulations and bank policies and procedures, including, but not limited to Bank Secrecy Act, FACT ACT, Community Reinvestment Act, and EEO/AA/Fair Employment Practices.
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.
Competencies:
To perform the job successfully, an individual should demonstrate the following competencies. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Leadership: Provides strong leadership; sets a good example; skilled decision-maker; is approachable and is a subject matter expert in their area of expertise.
Project Management: Ability to work on multiple projects simultaneously, managing time and resources to ensure work is completed efficiently and within established timeframes.
Judgement: Intuitive curiosity to investigate and follow through. Sound decision making abilities, working within the scope of responsibilities and seeking guidance where necessary.
Communicator: Advanced written and oral communication skills, speaking clearly, effectively listening, and clearly writing.
Organizational: Can establish a systematic course of action for self in order to accomplish objectives in an organized manner; determines priorities and allocates resources effectively, within established timeframes.
Technical: Working knowledge of core processing systems (Jack Henry CIF 20/20), loan & deposit platforms (LaserPro & OnBoard Deposits disclosures), and Microsoft Office (Word, Excel, Outlook).
Position Performance Standards:
Compliance monitoring is completed according to established compliance monitoring schedule
CRA Program is sound and adequate in that risk is proactively identified, integrity of data is maintained, and the bank’s initiatives align with regulatory expectations
Performance Weightings:
40% Competencies
60% Position Performance Standards and Personal Goals
Qualifications:
High school diploma or general education degree (GED); Bachelor’s degree preferred. Minimum 5 years of bank experience; compliance or audit experience preferred. Advanced knowledge of banking regulations and internal controls. Possess a valid driver’s license, reliable transportation and adequate auto insurance.
Physical Demands and Work Environment:
This job operates in a clerical office setting. This role routinely uses standard office equipment such as computers, phones, copy machines, filing cabinets and fax machines. The physical demands described here are representative of those that must be met by a Team Member to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This position requires manual dexterity. While performing the duties of this Job, the Team Member is regularly required to sit or stand for extended periods of time.