Peoples State Bank
  • Wausau, WI, USA
  • Salary
  • Full Time

Health, Dental, Vision, 401k, Profit Sharing, Bank-wide Incentive Program, Flexible Spending Accounts, Life, Disability, Paid Time Off, Volunteer Paid Time Off, Paid Holidays

Job Location: 1905 Stewart Ave, Wausau, WI 54401

Hours: Workday is normally 8-5 pm, Monday-Friday, expected to work the hours needed to meet job performance expectations

Job Summary:

As a member of the senior leadership team, oversee all aspects of risk management, regulatory compliance, and internal audit functions. Responsible for developing and implementing risk strategies, overseeing all compliance programs and ensuring internal controls are appropriate and within industry standards. Work collaboratively with department leaders to ensure that policies and procedures comply with appropriate laws and regulations that support customer service and product solutions that add value within the regulatory framework. Ensure periodic independent testing of compliance or policies as required. Liaison with FDIC, State of Wisconsin regulatory compliance examiners and third-party audit providers used to ensure we are meeting our regulatory requirements and that appropriate risk measures are in place to support the Bank's growth strategies.  

Primary Duties and Responsibilities:

Enterprise Risk Management

  • Develop, maintain, and oversee the Bank's enterprise risk management identification and reporting system appropriate for the risks faced by the bank and its growth strategy in a manner which mitigates risk and supports strong customer service and product growth.
  • Develop and maintain a vendor management system which identifies risk associated with key vendors and provides for ongoing financial and operational review of such vendors commensurate with a vendor risk assessment. 
  • Provide support as a member of the business continuity team, as led by the Chief Operations Officer, as it develops risk assessment and procedures related to business continuity. 
  • Act as a resource to management as it relates to creation and updating of bank policy and procedures. 
  • Responsible as source of risk identification and reporting to the senior management team and the board of directors. Serve as board audit committee management team contact and liaison with audit committee chairperson.  

Regulatory Compliance

  • Develop, maintain, and oversee the Bank's Compliance Management System (CMS) to provide for board and management oversight, a compliance risk assessment and program of policies, procedures and monitoring, and a compliance audit schedule. Responsible to lead updates of the bank's CMS as regulatory requirements change.
  • Conduct required regulatory compliance risk assessments with reporting to the board and management and provide for periodic audits based on required regulatory time frames or risk.
  • Act as a resource and assist management in development of regulatory compliance policies and procedures, training, and monitoring procedures to meet regulatory requirements while providing strong customer service and product growth.
  • Serve as leader of management's regulatory compliance committee and reporting monitoring and exam result trends with senior management and the board of directors.
  • Combine in depth understanding of existing and emerging regulatory requirements with efficient product delivery procedures and sales support for both the loan and deposit functions.
  • Maintain up to date knowledge of emerging changes in regulatory compliance and devise and implement strategies for the bank to comply with these changes. 
  • Provide regulatory compliance related training to employees, management, and the board of directors as needed to maintain a strong culture of compliance and accountability.
  • Maintain a system to provide adherence to high risk regulatory issues including the Bank Secrecy Act and related regulation, fair lending issues, and community reinvestment act (CRA). Serve as or manage an appointed BSA Officer, CRA Officer, and Compliance Officer.
  • Responsible for overall bank compliance with consumer protection regulation. Review product information, including legal documentation and disclosures, for compliance with consumer regulatory. 
  • Act as direct contact with outside regulatory examiners and accumulate documentation for them as needed.  Maintain contact with examiners throughout exam and communicate exam reports with management and the board of directors including any follow up responses.  
  • Supervise the regulatory compliance team for strong employee engagement and review incurred department expenses.

Internal Audit

  • Develop, maintain, and oversee the Bank's internal audit system based on a formal risk assessment, program of policies, procedures and monitoring, and an internal audit schedule.
  • Work with independent financial statement auditor to provide results of internal audit testing as requested and conduct other audit steps at their direction, as needed.
  • Maintain, document, and test a system of internal control over financial reporting as required by SEC Regulation and/or FDICIA regulation, allowing management to provide its required attestation over effectiveness of internal control.
  • Review internal audit results with management and coordinate management responses to findings.  Maintain a working list of open audit items (including internal audit and regulatory compliance exam findings) with reporting to senior management and the board of directors on progress.
  • Collaborate with operational or security staff to provide information to police agencies or other governmental authorities related to customer activity or increased risks. 
  • Supervise the regulatory compliance team for strong employee engagement and review incurred department expenses

Desirable Education, Experience and Skills:

  • Bachelor's degree with at least 10 years of bank risk management and regulatory compliance experience in a leadership role. CRCM designation preferred.
  • Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations.  Ability to write reports, business correspondence, and procedure manuals. 
  • Ability to effectively present information and respond to questions from groups of directors, managers, and employees.
  • Ability to collaborate with others requiring excellent interpersonal skills and ability to assess levels of risk as part of a solution meeting the needs of all parties involved.
  • Thorough knowledge of PC applications, including spreadsheets, word processing, and database management, and knowledge of bank internal control.

We are an Equal Opportunity Employer of Minorities, Females, Protected Veterans, and Individuals with Disabilities

Peoples State Bank
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