This role is responsible for monitoring programs that ensure the financial institution’s compliance with laws, regulations, and policies governing compliance. This includes maintaining the compliance management framework for LifeStore, assisting in the completion and documentation of risk-based internal audit activities, interpreting the results of audit work performed and determining internal control weaknesses. This role is also responsible for coordinating and maintaining the Vendor Management and Business Continuity Programs.

Primary Job Functions may include:

Regulatory Compliance

• Serve as the Bank’s Subject Matter Expert (SME) for regulatory compliance, specifically regarding deposit and lending regulations.
• Stay current on new and changing state and federal banking regulations and best practices to provide guidance and/or training to improve the Bank’s understanding of related laws and regulatory requirements and assess emerging compliance risks.
• Work with various department managers on implementing and maintaining appropriate policies, procedures, and controls to ensure compliance with regulations.
• Maintain policies and procedures within the policy management system, monitor the adequacy of the policies and controls, ensure they remain current, and submit policy updates to the Board of Directors as needed.
• Assist in compliance reviews of marketing activities.
• Oversee the complaint management process to ensure customer complaints are addressed timely and comprehensively.
• Advise lines of business during the development of new products and services and evaluate regulatory compliance risk levels.

Internal Audit

• Assist in the creation and maintaining of bank wide risk assessments.
• Prepare for internal audits by reviewing audit procedures, applicable risk assessments, consulting with the Senior Risk Manager and department managers.
• Performs transaction testing for internal audits including pulling deposit and loan account documents for audit samples, and meeting with department managers and/or internal control process owners.
• Analyze documentation to evaluate design effectiveness and efficiency of controls.
• Identify and communicate internal control weaknesses, risks, and root causes to the Senior Risk Manager.
• Complete Internal Audit reports.
• Assist in preparing for external audits and federal/state examinations.
• Oversee the tracking of internal/external audit and examination findings and provide status reports to the Senior Risk Manager.
• Develop internal audit skills.

 Vendor Management Program

• Maintain the Vendor Management Program within the online based system.
• Work with managers during the onboarding of new vendors to ensure vendors are properly classified and appropriate due diligence materials are received and reviewed.
• Work with managers during the ongoing vendor due diligence review process.
• Identify and report identified risks associated with vendors to appropriate management.
• Monitor various banking websites, online communities, peer networks, etc. for best practices and make recommendations for improving the Vendor program.

Business Continuity Program

• Maintain the Business Continuity Program within the online based system.
• Work with management to keep the Business Continuity Program current with the Bank’s processes, staffing, and IT systems.
• Coordinate testing of the Business Continuity Program and document testing of IT systems.
• Monitor updates with the online based system for both Vendor Management and Business Continuity Programs and implement changes into current processes.
• Monitor changes in federal and state banking regulations and implement updates in the Vendor Management and Business Continuity programs.
• Monitor various banking websites, online communities, peer networks, etc. for best practices and make recommendations for improving the Business Continuity program.

Minimum Qualifications:

• Bachelor’s degree (preferred) in Finance, Accounting, Business, or related field, or 2-year college degree, in Accounting, Business or related field.
• Preferred 4-5 years of experience with financial institutions’ regulatory environment with background in compliance, or audit functions.
• Possess appropriate professional certification (CRCM, CIA, etc.) or be willing to obtain certification(s).
• Excellent written and verbal communications skills; Proven success in problem analysis and resolution; Strong attention to detail; Strong organization skills; Ability to manage multiple detailed work assignments with a high degree of accuracy.
• Ability to grasp the underlying concepts in complex information.
• Good decision-making skills.
• Aptitude for learning analytical and audit skills.
• Willing to travel overnight for training and professional development.
• Ability to handle confidential material, especially relating to audit and regulatory examination findings and inquiries, in a professional, highly ethical manner.
• Proficiency with Microsoft Office products (Word, Excel, PowerPoint, etc.).

Physical and Mental Requirements:

• Must have the ability to work the hours and days required to complete the essential functions of the position, as scheduled. Vision, hearing, dexterity, and speech are required.   Ability to read, analyze and interpret information related to position-related documentation and requirements.  Other normal office-related physical demands may be necessary.
• Must have the ability to listen, reason, think, concentrate and interact with others.  The ability to exercise self-control and work under stressful conditions is necessary.  Must have the ability to collect data and conduct research and solve position-related problems. 

Location: West Jefferson

Apply today at Careers at LifeStore Financial Group NW NC | LifeStore Bank