Chief Compliance Officer

The Chief Compliance Officer is responsible for ensuring the Bank adheres to regulatory requirements, internal policies and procedures, and overseeing and managing the Bank’s compliance framework. While this position does focus on the payment ecosystem (ACH, card networks, wire transfers, digital payments), it is also responsible for traditional banking compliance.  The Chief Compliance Officer safeguards the Bank’s regulatory compliance functions and financial stability while enabling innovation and scalability in all financial services products.

PRINCIPLE DUTIES AND RESPONSIBILITIES

1. Develops and oversees the strategic aspects of the Compliance Program, including implementation of appropriate policies and procedures, third-party oversight processes, monitoring processes, consumer complaint responses, and the consumer compliance training program for the Bank.
2. Responsible for the management and oversight of compliance with applicable laws and regulations; ensures adherence to relevant regulations and stays ahead of evolving regulatory expectations.
3. Monitors regulatory developments and provides periodic reports to Executive Leadership and Board Committees on industry trends, state of the Compliance Program, key risk and performance indicators, and the status of key initiatives. This includes advising Executive Leadership and the Board on the impact of emerging regulatory developments on the Bank’s operations and risk profile, as appropriate.
4. Designs and implements a comprehensive compliance risk management strategy tailored to the Bank’s operations, aligning overall business objectives and regulatory requirements. 
5. Drive strategic direction as well as contribute day-to-day on implementing tactical solutions around product development.
6. Collaborates with the Information Security Officer to establish controls and mitigate cyber risks.
7. Oversees compliance associated with payments processors, fintech partners and vendors, ensuring contractual and operational alignment with risk policies.
8. Establishes controls to ensure the reliability and continuity of systems during disruptions, including stress testing and scenario planning.
9. Monitors and assesses compliance risks related to emerging payment technologies (blockchain, stablecoins) and advises on their integration into the Bank’s offerings.
10. Provides regular reports to the Board, senior management and regulators, articulating key risks, mitigation strategies, and emerging trends in the payments landscape.
11. Works closely with business units, including Information Services, Treasury, and Operations to embed compliance risk management into payment processes and product development.
12. Leads and develops a team of compliance and risk professionals, fostering a culture of proactive compliance risk management and continuous improvement.
13. Performs other duties as assigned.

EDUCATION AND/OR EXPERIENCE

• Bachelor’s degree in Finance, Business, Risk Management, or related field, required.
• CRCM certification, required.
• 12+ years’ bank compliance experience, required.
• 7+ years’ related experience in financial institutions supporting fintech partner relationships, preferred.

KNOWLEDGE, SKILLS, AND EXPERIENCE

• Extensive understanding of consumer compliance laws and regulations, with an emphasis on relationships with third-parties, with demonstrated research and implementation skills.
• Extensive understanding of compliance risk management and internal control frameworks, with demonstrated research and implementation skills.
• Deep expertise in U.S. banking regulations and a proven ability to translate complex regulatory expectations into actionable business guidance.
• Strong investigative, written, and oral communication skills.
• Strong commitment to ethics, and the ability to build consensus and understand variety of issues and perspectives.
• Strong understanding of the banking industry, including bank partnerships with fintech companies.
• Management experience leading and building risk and compliance teams within the banking industry, including ability to act as a mentor to team members.
• Ability to engage with third parties, including auditors, regulators and fintech partners, to effectively communicate aspects of the Bank’s compliance and risk management programs.
• Strong teamwork skills to effectively partner with business unit leaders and other senior executives.
• Strong leadership skills, to guide organizational change and collaborate with key partners across various levels.
• Ability to simplify difficult concepts and challenges by thinking analytically.
• Ability to work in a dynamic environment, building and maintaining a network of contacts, and coordinating with several partners across the company.
• Past experience building and maintaining key relationships across departments and functions, and establishing a culture of engagement.
• Proven ability to positively and creatively influence change and champion critical change initiatives; help others to anticipate and manage through change.