Compliance Specialist

Description

About Bankwell:

Bankwell is a commercial bank with more than $3 billion in assets that serves the banking needs of businesses and individuals. At Bankwell, we pride ourselves on our unique ability to bring you high touch, high quality banking with the expertise and dedication of our experienced team of professionals. When it comes to business, our deep industry knowledge, flexibility and innovative treasury and financing services enable us to find the right solutions for our business and commercial clients. We’re passionate about giving back and are actively involved with many not-for-profit organizations that help shape and improve the lives of others. We’re dedicated to giving our time and talent to support the communities we serve. More about Bankwell can be found at www.mybankwell.com.

Summary of Position:

The Compliance Specialist will support the Head of Compliance in ensuring that the Bank operates in compliance with applicable laws, regulations, and internal policies. This will include supporting the Bank’s risk-based Compliance Management System, conducting regular compliance monitoring, providing guidance and training to business lines on compliance issues and identifying opportunities for automation.   

Responsibilities Include:

• Assist in the development and maintenance of policies and written procedures to ensure compliance with applicable federal consumer protection regulations. 
• Support updates to the Compliance Risk Assessment module in the Enterprise Risk Management system.
• Conduct regular compliance reviews that include testing and/or oversight of outsourced testing, perform root cause analysis of issues, track open issues, and validate the completion of corrective actions.  
• Support Community Reinvestment Act (CRA) activities, including but not limited to data collection and submission, maintenance of the Public File, ongoing performance monitoring, BOD/Committee reporting, and annual preparation of context statements.  
• Assist in monitoring rulemaking activities, assessing impact, and documenting changes to support timely implementation; specific rules include: FDIC Signage; 1071 Small Business Data Collection Rule; CRA Modernization; etc. 
• Support business lines with compliance issues, which includes performing isolated research upon request and advising on compliance matters for new projects, products and services.
• Support business line compliance training, including but not limited to managing the online compliance training platform, coordinating the development and review of the annual compliance training plan, provide in person compliance training sessions and developing materials (as needed). 
• Support the management of regulatory examinations and participate in Internal Audits. 
• Assist in tracking and documenting complaints and support the development of enhancements to the Bank’s Customer Complaint Program. 
• Assist with Compliance special projects as assigned. 

Requirements

Qualifications & Skills:

The ideal candidate will have a strong understanding of laws and regulations that impact community banks, excellent organization and problem-solving skills, strong communication skills, and the ability to coordinate with all levels of the Bank. The Compliance Specialist will be able to identify opportunities for streamlining and automation in compliance processes, collaborate with IT and other relevant business lines to implement automated solutions, and monitor and evaluate the effectiveness of technology solutions. At least three (3) years of industry-related experience required, Certified Regulatory Compliance Manager (CRCM) certification preferred or a willingness to obtain within one (1) year of hire.