Loan and Deposit Compliance Officer
Merchants Bank VT - South Burlington, VT

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This position is full time in South Burlington, VT.

Position Summary
Assists in designing and managing the compliance program for the bank by focusing on loan and deposit disclosure requirements and related servicing compliance. The Bank’s compliance program includes advising on adequacy and development of controls to ensure compliance with federal and state laws and regulations, performing risk assessments, and monitoring/testing for compliance with regulatory requirements. This position is also responsible for managing and overseeing the bank’s change management processes including tracking new regulations and reporting on their impact to the bank’s management and/or committees and status of their implementation. This position reports to the Compliance Officer and will assist the Compliance Officer as requested in administering the overall compliance program for Merchants Bank.

Principal Duties and Objectives

1. Maintain a thorough knowledge of federal and state laws and regulations pertinent to the area of specialty and ensure that employees are aware of current requirements that impact their position. Receive, analyze, interpret and coordinate the effective implementation of pertinent bank, federal, state and other financial rules and regulations. Develop action plan and make recommendations to the appropriate bank committee(s). Coordinate with applicable departments and provide implementation oversight.

2. Provide written communication explaining regulatory requirements and changes, including tools to help achieve/control compliance risk. Act as the point person for regulatory guidance, issues and concerns for the bank in compliance specialty areas.

3. Assist in developing and delivering supplemental training programs in coordination with the Training Coordinator.

4. Evaluate and follow-up on management compliance monitoring for bank business units. Manage outsourced compliance audit work. Perform supplemental testing as needed. Coordinate issue responses and management/committee reporting.

  • Assist in coordination of regulatory examinations and provide documentation to examiners as necessary.
  • Perform any and all duties as assigned from time to time.
    Qualifications and Education Requirements

    1. A bachelor’s degree in business or liberal arts.
    2. CRCM or progress toward certification strongly preferred.
    3. Minimum of 3 - 5 years of progressive compliance management experience in a Financial Institution. A combination of bank lending, payment or deposit operation experience coupled with compliance experience may also be considered.
    4. In depth knowledge of federal and state laws and regulations governing financial institutions, including proven ability to apply these requirements to business practices and systems to identify and assess compliance risk.
    5. Strong communications and collaboration skills are necessary, including the ability to work effectively with others at all levels across the bank and regulatory authorities.
    6. Effectively provide solutions and direction, multi-task, excellent time and resource management skills, work independently, problem solve, and deliver results.
    7. Ability to quickly integrate information relating to complex issues, maintain diplomacy, and the ability to use discretion when making decisions, be creative and innovative in problem solving, and exercise good judgment.

  • About this company
    Established in 1849, Merchants Bank is the largest Vermont-based bank. The bank's consumer, business, municipal and investment customers...