Deposit Compliance Officer
BASIC PURPOSE OF POSITION:
The Deposit Compliance Officer I supports the Director of Compliance in developing, implementing, and maintaining the bank’s enterprise-wide Compliance Management System (CMS) with a specific focus on retail and deposit operations. This position plays a foundational role in monitoring regulatory compliance, reviewing marketing collateral, reviewing retail related complaints, and ensuring that deposit policies and procedures align with federal mandates. This role requires frequent collaboration with Retail, Operations, Marketing, and IT.
DUTIES OF POSITION:
- CMS & Policy Support: Assist the Director in building and enhancing deposit-related components of the CMS. Lead the drafting and refinement of policies and procedures for Reg E, Reg DD, Reg CC, and Privacy.
Marketing Oversight: Serve as the primary reviewer for all deposit-related advertisements and promotions. Assist with the tracking and reporting of marketing efforts to ensure compliance with UDAAP and fair treatment standards.
Monitoring & Reporting: Execute the deposit monitoring schedule, including transaction testing and disclosure reviews. Prepare draft reports and summaries for the Compliance Committee.
Compliant Process Assistance: Provide guidance to retail and operations teams on implementing compliant workflows and resolving consumer complaints. Assist the Director of Compliance with reviewing and responding to deposit / retail related complaints.
Training & Research: Assist with creating deposit compliance training materials and job aids. Stay informed of regulatory updates from the FDIC, CFPB, and Federal Reserve.
EDUCATION/ EXPERIENCE/ SKILLS
In-depth knowledge of deposit regulations (Reg E, CC, D, DD, Privacy, and UDAAP).
Strong analytical skills with the ability to identify operational risks in a retail environment.
Excellent communication skills for translating complex regs into clear staff instructions.
Minimum Qualifications:
Required: Five (5) years of banking experience.
Required: Two (2) years of compliance-related experience; Two (2) years of deposit experience (Deposit Ops, Retail, etc).
Preferred: Experience with compliance management software (Ncontracts, Kadince, etc.) and Jack Henry Retail Systems.
BankFirst is an EO employer- M/F/Veteran/Disability