Job Summary
The Director of Compliance has an in-depth knowledge of regulatory compliance related to lending and deposit compliance. This position will develop and manage the bank’s compliance management program and procedures related to compliance for the bank. This role provides strategic leadership and mitigates regulatory risk. This position has management responsibility.
Essential Functions
Employees must be able to perform the essential functions of this position satisfactorily or make a request for reasonable accommodations as needed.
- Develop, implement, and administer all aspects of the Bank’s compliance framework and program.
- Serves as a trusted advisor to senior leadership on regulatory requirements and compliance risks. Works with bank management and department leaders on company projects and initiatives.
- Develop and mentor compliance team members.
- Serves as the Bank’s Compliance Officer.
- Maintain a proficient knowledge of all applicable banking rules and regulations, staying abreast of changes in deposit and lending regulations and guidelines.
- Review new and proposed regulations, assess impact on Bank’s products and initiatives, oversee regulatory change management, and disseminate information to staff related to compliance and other topical subjects.
- Coordinate regulatory filings, examinations, and reporting obligations.
- Conduct compliance and privacy risk assessments and identify areas of exposure.
- Develop and implement remediation plans to mitigate identified risks.
- Track and report key compliance metrics to senior leadership and the Board.
- Oversee compliance monitoring, internal audits, and control reviews.
- Review complaint data and trend analysis, coordinating with Legal to identify and escalate potential systemic issues.
- Develop, maintain, and communicate compliance policies, standards, and procedures.
- Ensure policies are consistently applied and enforced across the organization.
- Collaborate with operations to ensure documents and disclosures are accurate, compliant, and appropriately developed and maintained.
- Develop, coordinate, and facilitate compliance training programs for bank personnel.
Education & Experience
- Bachelor of Arts or Sciences degree from accredited four-year college or university and at least ten (10) years of related experience or an equivalent combination of education and experience.
- Completion of industry certification is preferred. E.g.,
- Certified Compliance & Ethics Professional (CCEP)
- Certified Regulatory Compliance Manager (CRCM)
- Certified Internal Auditor (CIA) or similar
- Experience working within a larger, more complex financial institution with a broad product portfolio and diverse business lines
- Experience supporting complex functions and operating within a similarly scaled, growth-oriented organization preferred
We offer the opportunity for career growth and development in a professional and pleasant working environment. We offer a competitive salary and exceptional benefits package including:
- Health Insurance-Dacotah Bank pays 100% of the premium, family and individual coverage
- Dental Insurance-Dacotah Bank pays 100% of the premium, family and individual coverage
- Health Savings Account
- Life Insurance for the employee and family
- Paid Vacation and Sick Time
- Retirement Plan Options
- Additional Perks and Benefits
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
Skills Required
- Bachelor’s degree from an accredited four-year college or university, or equivalent education and experience
- At least 10 years of related experience
- Experience in banking compliance
- Experience working within a larger, more complex financial institution with a broad product portfolio and diverse business lines
- Completion of an industry certification such as CCEP, CRCM, CIA, or similar
- Experience supporting complex functions in a similarly scaled, growth-oriented organization
What We Do
As a state-chartered bank, Dacotah Bank provides banking, insurance, mortgage, and trust services to customers who enjoy existing financial relationships with us. We also market these services to prospective customers residing in or doing business from our defined trade area. Dacotah Bank's trade area includes all of North Dakota; all of South Dakota; the following counties in western Minnesota: Becker, Big Stone, Chippewa, Clay, Clearwater, Cottonwood, Douglas, Grant, Jackson, Kandiyohi, Kittson, Lac qui Parle, Lincoln, Lyon, Mahnomen, Marshall, Murray, Nobles, Norman, Otter Tail, Pennington, Pipestone, Polk, Pope, Red Lake, Redwood, Renville, Rock, Stevens, Swift, Traverse, Wilkin and Yellow Medicine; the following counties in Iowa: Lyon and Osceola; and the counties in Montana, Wyoming and Nebraska that are adjacent to North Dakota and South Dakota. On November 10, 2004, employees, stockholders, and customers observed the 40th Anniversary of Dacotah Banks, Inc. (DBI). That same year, the Aberdeen-based bank holding company, owner of a family of community banks and insurance agencies, passed the $1 billion assets mark. Today, the company's banking assets exceed $2 billion. With locations in dozens of hometowns in North Dakota, South Dakota, and Minnesota, the firm employs over 500 employees and serves over 60,000 customers, Dacotah Bank is also one of America’s largest lenders to agriculture and consistently ranks in the top 20.
