Establish and manage an enterprise-wide risk management program. Oversight of Bank Protection (Loss Prevention & Physical Security), Internal Audit, Compliance, Community Development, Fair Lending, and BSA/AML/OFAC. Assess significant risks and exposures to all departments. Propose and implement recommendations to improve reporting systems, data integrity and processes to identify, and assess and mitigate risks in all departments. Oversight of the Bank’s compliance, reputation, and financial risk related to bank laws and regulations.
Enterprise Risk Management
• Manage the Bank’s reputation and financial and operational risks.
• Oversee Enterprise Risk Management (ERM) program.
• Develop, implement, and maintain plan, policy, and procedures.
• Be the Examination Management & Regulatory Liaison
o Provide insight into the Bank’s risk profile, actively manage the examination process for all areas within the Bank (BSA, Trust, IT, Safety & Soundness, Compliance, and CRA).
o Proactively identify shifts in the regulatory climate.
o Work closely with department leaders to implement necessary changes.
• Responsible for evaluating and enhancing the Bank’s existing reports to measure and mitigate operational, regulatory, and reputation risk.
• Direct the study and establishment of systems, procedures, methods, and forms to improve efficiency and mitigate risk.
• Identify key risk indicators and create risk framework for proactive response and root cause analysis.
• Establish and maintain appropriate advisory relationships with key departmental contacts and serve on various new product/system task forces.
• Chairperson of the Bank’s Risk Committee.
• Report quarterly to the Audit Committee and quarterly or more frequently, if requested to the Board.
• Prepare and present Board level Risk Profile Report to capture the key risks across all departments within the organization to enhance Board awareness of all key risk areas.
• Provide information and support to Corporate Board, Audit Committee, and Board of Directors in connection with Corporate Governance and related laws and regulations.
Litigation Liaison/Coordinator/Compliant Resolution
• Legal Liaison for the Bank.
• Provide management of and support to outside legal counsel while addressing customer disputes that escalate from Macatawa’s direct customer contacts. As well as, disputes that have escalated to the point of threatened litigation.
• Recommend key strategies to Executive Officers to mitigate reputation risk or resolve/prevent outstanding legal issues.
• Responsible for the coordination and resolution of complaints escalated to the BBB, OFIS, or FDIC.
• Keep abreast of ideas, developments, and changes that would affect the Bank.
• Maintain full awareness of company goals, industry trends, and regulatory and legislative developments.
• Prepare comment letters, position statements, and responses on behalf of the Bank for proposed regulatory changes.
• Responsible for the Bank’s annual Proxy Disclosure based on SEC regulations and interpretations.
• Responsible for reviewing all contracts for legal requirements/impact prior the Bank execution.
• Work closely with Accounting and Finance on matters requiring extensive internal documentation or investigation for response to SEC or NASDAQ.
• Oversee the Bank’s Bank Secrecy Act, Anti-Money Laundering, and OFAC programs.
• Oversee Board appointed BSA officer.
• Responsible for compliance with OFAC rules and regulations and the systems supporting those functions.
• Monthly SAR Reporting to the Board.
• Identify various risk factors and trends of potential money laundering or terrorist activity.
• Develop and implement educational programs and training as needed.
• Implement and update systems/controls in various departments to mitigate risk.
• Responsible for enhancing and managing the Bank’s compliance, reputation, and financial risk related to Bank laws and regulations.
• Position the Bank’s program for future growth with a flexible compliance infrastructure.
• Act as a resource for the most complex questions regarding banking regulations and state law. Specifically for the Financial Services Group related to SEC, FDIC, FINRA, and state regulations.
• Leadership role in our CRA efforts, including establishing and maintaining an effective CRA program to ensure satisfactory CRA performance and ongoing monitoring of data.
Bank Protection and Audit Oversight
• Oversee the Bank’s Audit function to ensure that the planning, organizing, directing, and controlling of financial, operational, and lending audits is adequate.
• Maintain cutting edge awareness of auditing standards, principle, concepts, and financial and accounting rules, regulations, and practices.
• Responsible for ensuring the Loss Prevention and Physical Security programs are effective at directing internal and external loss prevention resources to reduce or eliminate losses from all sources.
• Maintain awareness of industry trends, concepts, and best practices.
• Responsible for oversight of the Bank-wide Business Community Plan.
• Provide support, guidance, training, and mentoring to ERM staff.
• Develop technical and leadership skills.
• Create education programs for each employee within the career development framework.
MORE ABOUT THE ROLE:
A comprehensive understanding of general banking compliance regulations and an understanding of Bank products and issues relevant to departments within the Bank is required. Must be able to evaluate and solve problems from multiple perspectives. Facilitation skills both in training and meeting environments are essential. Must be able to communicate with all levels both inside and outside the Bank, conveying highly technical compliance related information; excellent written and verbal communication skills are necessary. The ability to negotiate and collaborate with others, initiate action, adapt to change, make difficult decisions and accept challenging assignments is essential. Must be proactive in identifying potential concerns and following-up to resolve such issues.