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Job Opening: Compliance Specialist

Introduction

Established in 1996, Community Bank of the Bay is an independent, community-focused bank with over 20 years of active financial investment in businesses and individuals in the San Francisco Bay Area. Our mission is to foster and promote economic development in the communities we serve.

At Community Bank of the Bay, we take the time to listen, understand, and develop customized financial solutions that support the unique needs of our business banking clients. Through community partnerships, civic engagement, nonprofit stewardship, and a meaningful approach to our client relationships, we strive to offer the tools and resources necessary for equitable development and economic opportunity.

Community Bank of the Bay (CBB) is a member of the FDIC, an SBA Preferred Lender, and a CDARS depository institution, headquartered in Oakland, CA with offices in Danville and San Mateo. We are also California’s first FDIC-insured certified Community Development Financial Institution (CDFI) and have been awarded 18 Bank Enterprise Awards since 1997 from the federal CDFI fund to use in service to distressed communities. CBB is the first and only bank in the Bay Area to sign the Anti-Displacement Code of Conduct, which advocates for sustainable investment that allows local communities to thrive.

Overview

The Compliance Specialist is responsible for operational support duties of the Compliance Department and assists the Chief Risk Officer and the BSA-AML Officer as directed. Assists in originating, implementing, and maintaining the Bank’s compliance programs to ensure conformity and adherence with all applicable state and federal laws, rules, and regulations.

  • Location: to be determined
  • Job Type: Full-time

Duties and Responsibilities

  • Provides support to all areas of the department as directed or where service or assistance is needed.
  • Helps in the coordination and support of compliance audits and examinations.
  • Provides clerical assistance in training personnel on the Bank’s compliance policies and procedures.
  • Performs a variety of routine daily tasks; reviews reports, prepares correspondence; and participates in special department projects.
  • Maintains a proficient knowledge of all applicable banking laws, rules, and regulations.
  • Performs daily review, monitoring and analysis of various reports, logs and transaction data to identify trends, unusual activity and monitor large currency activity, and determines if transactions are suspicious in nature, such as kiting, significant changes in balances, cash structuring in deposits, loans payments and certificate of deposit purchases, wire or ACH transfers, monetary instrument sales, new account openings, etc.
  • Provides clerical assistance and support for the Bank’s CRA data collection, tracking and reporting software systems, and submits such information to appropriate regulatory authorities and independent auditors within assigned timelines as directed.
  • Provides clerical assistance in the completion and filing of Suspicious Activity Reports (SARs) ensuring they are properly documented with related narrative and supporting documentation.
  • Provides clerical support for the process of documenting, tracking, and responding to complaints concerning the Bank.
  • Works with the Bank’s OFAC system and FinCEN 314(a) and (b) list and inquiries, and appropriately responds to positive hits detected by the Bank’s AML or OFAC software system as directed.
  • Assists in maintaining the Bank’s Compliance Library and ensures materials are current and available for use and reference.
  • Assists in conducting various risk assessments as directed.
  • Assists in the investigation of issues relating to lost or stolen checks, fraud, teller’s overs and shorts and other security issues to help mitigate risk and minimize loss to the Bank.
  • Reviews account opening reports for CIP compliance and accuracy; maintains database of missing information for follow up by branch personnel; and identifies, monitors and tracks high risk customers and accounts.
  • Reviews Currency Transaction Reports (CTRs) completed by branch personnel for accuracy and filing, and reviews daily currency reports to ensure CTRs have been completed for all reportable transactions.
  • Assists in the filing and review of exempt person filings.
  • Ensures compliance with all applicable reporting and record-keeping requirements and timely distribution of related materials and publications to designated personnel.
  • Helps coordinate compliance training presentations and exercises with all Bank personnel.
  • Assists in special projects and tasks for the department as directed.
  • Processes, solves and answers customer transactions, problems or inquiries.
  • Assumes responsibility for various department functions in the absence of staff members or in overload situations.
  • Assures compliance with all Bank policies, procedures and processes, and all applicable state and federal banking laws, rules and regulations, and adheres to Bank Secrecy Act (BSA) responsibilities that are specific to the position.
  • Completes administrative tasks correctly and on time; supports the Bank’s goals and values.
  • Attends meetings as required. Completes all required training of the position in a timely manner.
  • Other duties as assigned.

Qualifications:

EDUCATION/CERTIFICATION:

  • Bachelor’s degree (or equivalent) or 4-5 years related experience and/or training.
  • CAMS or related Certification preferred.

REQUIRED KNOWLEDGE:

  • Strong knowledge of lending and deposit operations, consumer protection laws and regulations, and USA Patriot Act, Bank Secrecy Act and Anti-Money Laundering laws and regulations.
  • Thorough working knowledge of bank operations and banking policies and procedures.
  • Basic knowledge and proficiency with Microsoft Word/Excel is required.

EXPERIENCE REQUIRED:

  • 4-5 years of experience in related regulatory compliance.

SKILLS/ABILITIES:

  • Solid analytical and problem solving skills.
  • Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.
  • Good organizational and time management skills.
  • Attentive to detail and observant.
  • Excellent verbal, written, and interpersonal communication skills.
  • Ability to work well independently and as a team player; collaboratively interface with other business units/departments.

Community Bank of the Bay is an Equal Opportunity Employer and hires qualified candidates without regard to race, religion, color, sex, sexual orientation, gender identity, age, national origin, ancestry, citizenship, veteran or disability status, or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, and municipal laws. Job candidates must be legally eligible to work in the United States.