Serve as the Bank's Compliance Officer administering the Compliance Management System; oversee monitoring, testing, risk assessment, regulatory reporting, examinations, and governance. Provide routine legal and corporate governance support, coordinate with General Counsel and outside counsel on complex matters, review contracts and policies, and partner with business leaders to ensure regulatory compliance (including SBA, commercial lending, and CRA).
Work Location
On-site position based in Austin, TX, or Northbrook, IL.
Vice President - Compliance & Legal
The Vice President - Compliance & Legal serves as the Bank's Compliance Officer and is responsible for administering the Bank's Compliance Management System (CMS). The role oversees the Bank's compliance monitoring, testing, risk assessment, regulatory reporting, examination coordination, and compliance governance activities while partnering with business leaders to maintain a strong culture of compliance. In addition, the role provides routine legal, regulatory, and corporate governance support to the Bank, partnering with the General Counsel and, as appropriate, outside counsel on complex or specialized legal matters.
This is an individual contributor role that will work in either Austin, TX, or Northbrook, IL. Compliance administration and oversight are the primary responsibilities of this position. Legal and corporate governance responsibilities are intended to support the Bank's overall compliance and risk management framework.
Key Responsibilities
Compliance
- Administer and maintain the Bank’s CMS.
- Perform compliance monitoring, testing, and risk assessments, including activities related to SBA lending, commercial lending, and deposit operations.
- Prepare and present periodic compliance reporting for Management and Board Risk Committees.
- Maintain the Bank’s compliance policies and procedures.
- Coordinate regulatory examinations, audits, and remediation efforts.
- Monitor regulatory changes that impact the Bank, coordinate implementation activities, and report significant changes to Management and the Board as appropriate, including changes to SBA regulations, guidance, and program requirements.
- Review customer complaints, identify trends, support issue resolution, and provide periodic reporting to management and the Board.
- Review new products, services, and material business changes for regulatory and legal implications.
- Administer the Bank’s Community Reinvestment Act (CRA) Strategic Plan by partnering with the lending organization to support execution, while ensuring compliance with regulatory requirements.
- Escalate significant compliance concerns to executive management, the Audit & Risk Committee, and the Board, as appropriate.
Governance
- Maintain corporate records, governance documentation, and applicable record retention requirements.
- Support the Corporate Secretary in Board governance activities and assume Corporate Secretary responsibilities as assigned.
Legal
- Review and negotiate vendor agreements, NDAs, and routine commercial contracts.
- Coordinate with the General Counsel and/or outside counsel on employment, litigation, regulatory, SBA, and other specialized legal matters, including subpoenas, legal process requests, and routine legal correspondence.
- Provide routine legal and regulatory guidance to business partners and coordinate complex legal matters with the General Counsel and/or outside counsel.
Qualifications
- Bachelor’s degree required.
- Juris Doctor (J.D.) preferred; significant banking legal/compliance experience may be considered in lieu of a law degree.
- 7+ years of banking, fintech, or regulated financial services experience.
- Strong working knowledge of applicable banking laws and regulations, with an emphasis on commercial lending compliance, SBA lending regulations, the Community Reinvestment Act (CRA), and related regulatory requirements.
- Experience supporting compliance testing, monitoring, and issue management.
- Strong communication and organizational skills.
- Ability to operate independently in a fast-paced environment.
Opportunities & Benefits at SmartBiz Bank
- Mission-driven culture focused on small business banking.
- Competitive compensation and equity participation where applicable.
- Employer-paid medical, dental, vision, life, and disability insurance for eligible employees and dependents.
- 401(k) retirement plan.
- Flexible vacation policy.
-- SmartBiz Bank is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. California residents can learn more about how we use your information by visiting https://sites.google.com/view/smartbizloans-employment-ccpa
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