Chief Compliance Officer

Job Description

Job Description

Overview

At Community Financial System, Inc. (CFSI), we are dedicated to providing our customers with friendly, personalized, high-quality financial services and products. Our retail division, Community Bank, N.A., operates more than 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts. Beyond retail banking, we also offer commercial banking, wealth management, investment management, insurance and risk management, and benefit plan administration.

Just as our employees are committed to helping our customers manage their finances, we’re committed to our employees. After all, they make it happen for our customers every day.

To ensure our people can enjoy long and successful careers here at CFSI, we offer competitive compensation, great benefits, and professional development and advancement opportunities. As an equal-opportunity workplace and affirmative-action employer, we celebrate and support a diverse workplace for the benefit of all: our employees, customers and communities.

Responsibilities

Chief Compliance Officer (CCO)

The CCO is responsible for developing, implementing and administering all aspects of the Compliance Management Program and functions as an independent and objective body that reviews and evaluates compliance issues/concerns within the organization. This position plans, organizes, and manages the Bank's day to day compliance activities. Oversees and implements risk analysis/ assessment and monitoring related to Bank consumer compliance activities. Participates in various committees, audits and examinations. Oversees compliance training initiatives. Advises the Board of Directors, Senior Management and Bank personnel of emerging compliance issues and consults and guides the Bank in the establishment of controls to mitigate risks. Coordinates risk assessment and monitoring of subsidiary compliance management programs. Ensures department activities run smoothly and efficiently by providing leadership, training and supervision to compliance department personnel. Develops, oversees and implements strategies to achieve goals established for the function and Bank.

• Provide leadership of the Bank’s compliance management program consistent with a Three Lines of Defense model to measure, monitor and control the Bank’s residual exposure to compliance risk.
• Plan, organize, and manage the Bank's day-to-day compliance activities.
• Responsible for compliance reporting to the Board of Directors’ Risk Committee.
• Demonstrate expertise in applicable laws and regulations and an ability to research and understand new and modified laws, regulations, interpretations and guidance. Lead the Bank’s regulatory change management program and collaborate with applicable First Line managers to effectively revise policies, procedures and practices to address new requirements.
• Creatively deploy technology solutions to broaden the scope, frequency and efficiency of compliance monitoring activities and achieve reductions in residual compliance risk.
• Responsible for developing and performing on-going compliance risk assessment and monitoring related to Bank consumer compliance activities. Development and/or oversight of risk-based compliance policies and procedures that ensure compliance with statutes and regulations. Develop, document and maintain a compliance program that includes: risk assessments; development and maintenance of applicable policies and procedures and guidelines; and monitoring, testing and reporting protocols that are appropriately tailored to prevent, detect and correct specific compliance risks. Identify potential areas of compliance vulnerability and risk; develop/implement corrective action plans for issues resolution.
• Coordinate Bank’s efforts related to various compliance related audits, reviews, and examinations. Facilitate corrective action as appropriate.
• Interacts with Senior Management, the Board of Directors’ Risk Committee, attorneys, bank regulators, service providers, consultants and bank/subsidiary staff. Consults with the General Counsel as needed to resolve complex legal compliance issues.
• Develop and promote processes for compliance training, awareness, and conformance with regulations.
• Proactively review and assess new and existing products, capabilities, and opportunities from a compliance risk perspective.
• Provide input to the Bank’s functions and efforts related to advertising, Community Reinvestment Act, Privacy, and consumer complaints.
• Coordinate risk assessment and monitoring of subsidiary compliance management programs with Internal Audit. Coordinate the subsidiary compliance programs, in conjuncton with internal resources and/ or outside consultants.
• Evaluate the effectiveness of the use of consultants on a regular basis.
• Provide general oversight for the work and activities of the Compliance function. Ensures that the department and all personnel adhere to established operating policies and procedures along with outside regulatory requirements.

Ancillary Duties:
As the leader of Consumer Compliance and a member of the Risk Management Group, this person is responsible for achieving the function’s goal of measuring, monitoring and controlling the Bank’s residual exposure to compliance risk. The leader also contributes to the Bank achieving its annual goals.

Qualifications

Education/Training:

B.S./B.A. degree in a related field of study; specialized bank compliance training.

Skills:

A thorough knowledge of the role of the Second Line of Defense related to consumer compliance risk and expert technical knowledge of applicable banking laws, regulations and supervisory guidance.

Knowledge and experience with designing, implementing and managing an effective Three-Lines of Defense compliance management program.

Required personal characteristics include: strong leadership skills; ability to foster the development of team members, including delegating responsibilities; excellent communication and presentation skills; strong ability to effectively collaborate with the First Line of Defense, Enterprise Risk Management and Internal Audit leadership and staff to achieve shared goals, an ability to envision and implement technology solutions to improve the Bank’s ability to measure, monitor and control compliance risk; attention to detail; independent judgment with strong analytical and risk assessment skills; strong business judgment; ability to function in a deadline intensive environment, managing multiple responsibilities while effectively focusing on priority issues; ability to adapt to change; and unquestioned integrity, ethics and values.

Experience:

Large bank compliance department, consulting or examination experience preferred;

Minimum of 7-10 years experience in bank compliance related positions;

Strong leadership and management experience.

Fiduciary/Asset Management/Employee Benefits knowledge a plus.

All applicants must be 18 years of age or older.