VP of Compliance and BSA

State Bank Of Texas; Irving (TX); On-site; USD 90,000 - 140,000; Full time

Job summary

State Bank of Texas seeks a senior Compliance Officer to lead BSA/AML and OFAC risk management. This role reports to the Board and coordinates with regulators to ensure regulatory compliance across the bank’s operations.

The officer will develop and maintain a risk-based compliance program, update policies, provide training, and oversee regulatory adherence to protect customers and stakeholders.

Qualifications

• Requires strong knowledge of BSA/AML regulations and related compliance frameworks.
• Experience with high-risk MSB accounts and regulatory reporting processes.
• Ability to develop and monitor a comprehensive compliance program across the bank.

Responsibilities

• Develop and implement a risk-focused compliance program that effectively manages compliance areas across the bank.
• Assist in development and review of bank policies and procedures to ensure regulatory compliance.
• Maintain knowledge of BSA, AML, OFAC regulations and bank compliance requirements.
• Coordinate with regulatory examiners and auditors; recommend corrective actions as needed.
• Monitor and report on identity theft and other compliance risks to the Board.

Skills

BSA/AML regulations knowledge

MSB accounts experience

Regulatory reporting

Education

Bachelor's degree

CRCM and/or CAMS

Tools

Industry related systems/software

Job description

Description

State Bank of Texas is a privately owned, independent Bank specializing in lending solutions for the hospitality industry. State Bank of Texas is committed to providing personal partnerships with their customers, timely loan decisions, and convenient up to date technology for their customers.

POSITION SUMMARY:

Is committed to the banks Mission to provide a better banking experience built on quality service, competitive products, devoted employees whose goals are based on exceeding the expectations of our customers, and stakeholders, while maintaining compliance with regulatory guidance. Officer position designated by the Board of Directors. Responsible for the overall BSA and compliance risk management process for the organization. Ensures that technical advice and guidance to bank management and staff is provided in sync with business and that compliance objectives are achieved. Directs compliance staff in the identification, measurement, and monitoring of compliance risks within the organization. Responsible for board reporting and interaction with external regulatory agencies.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Develop and implement a risk-focused compliance program that effectively manages the various areas of compliance throughout the bank.
• Assist in development and review of the Bank's policies and procedures to ensure that policies are properly administered for compliance with applicable laws and regulations.
• Maintain a current knowledge of BSA, AML and OFAC regulations and all bank related compliance regulations.
• This person will also use monitoring application systems, maintain investigation files, and conduct periodic assessments of the departments for compliance. Work with BSA Officer to prepare BSA/AML Risk Assessment by identifying the risk profile of the Bank and analyzing the information to better assess the risks identified and mitigate any gaps in control
• Interpret regulations to implement new and revised regulatory requirements.
• Assign and monitor annual BSA training and all other Compliance training to Board and Employees, as well as all applicable federal and state laws and regulations.
• Coordinate with regulatory agency examiners and independent auditors during examinations. Recommend and assist with corrective action as necessary.
• Responsible for monitoring effectiveness of Identity Theft Program and providing updates to Board of Directors.
• This position is responsible for monitoring all bank regulations and create/change policies for new or updated regulations.
• Test compliance related procedures throughout the bank to ensure their effectiveness
• Will be responsible for monitoring/changes of all disclosures for compliance with Federal and State regulations.
• Reviews product and service disclosures and advertising materials for compliance with applicable rules
• Prepare and present periodic reports to the board concerning the bank's current record of compliance as determined through test work.
• Maintain compliance resources. Collect and disseminate to appropriate staff information related to compliance and other topical subjects. Provide informational assistance and research for all bank personnel.
• Investigate, aid in resolution when necessary, and report consumer complaints, tracking for trends.
• Manage/Supervise compliance and BSA personnel, and risk management personnel if applicable
• Stay abreast of changes in regulations, analyze effects on bank operations, and ensure proper adherence by policy or procedure implementation.
• Other duties as assigned by supervisor and/or management.
• Comply with all federal, state, and company policies, procedures, laws and regulations.
• Adhere to all relevant security responsibilities as outlined in the Bank's Information Security Program and Written
• Security Program.

Preferred Skills; Certifications; Education:

• Requires a bachelor’s degree. CRCM and/or CAMS preferred.
• 7 to 10 years’ experience in banking with 3 to 5 years compliance experience.
• Experience with industry related systems/software.
• Experience with high-risk money services business (MSB) accounts is required.
• Must have strong knowledge of BSA/AML regulations.