Chief Compliance Officer

About the role

At Liberty, we strive to maximize our impact and exceed goals by investing in our teammates to deepen our relationships in the workplace and communities we serve. We take pride in promoting a socially responsible and sustainable future through initiatives and investment.

Summary of the Job

The Chief Compliance Officer (CCO) is responsible for the strategic leadership, administration, and effectiveness of the Bank's enterprise-wide Compliance Management System (CMS).

The CCO ensures that the Bank conducts operations in compliance with applicable federal and state laws, regulations, supervisory guidance, and industry standards while supporting the Bank's mission, values, growth objectives, and commitment to customers and communities.

The position serves as a trusted advisor to executive management and the Joint Board Risk Committee on regulatory compliance matters and maintains key relationships with banking regulatory agencies. The CCO partners across all business lines to identify, assess, monitor, and mitigate compliance risk while promoting a strong culture of compliance throughout the organization.

Essential Functions

Regulatory Compliance Leadership

• Lead and maintain the Bank's enterprise Compliance Management System (CMS).
• Establish compliance strategy, policies, procedures, governance structures, and risk assessment methodologies related to the Compliance Management System and regulatory compliance obligations.
• Monitor and partner with Legal to interpret regulatory developments and assess their impact on the Bank.
• Ensure timely implementation of new or amended laws, regulations, and supervisory guidance through effective regulatory change management processes.

Board and Executive Reporting

• Report regularly to executive management and the Joint Boad Risk Committee
• Provide compliance training and education to Directors and senior management.

Regulatory Relationship Management

• Serve as the primary compliance liaison with regulatory agencies, including:
• Connecticut Department of Banking, FDIC, Federal Reserve, Consumer Financial Protection Bureau and FinCEN and other governmental agencies
• Coordinate and oversee compliance-related examinations, inquiries, and responses.
• Ensure effective remediation of regulatory findings and commitments.

Compliance Risk Management

• Chair the Compliance Committee
• Conduct enterprise-wide compliance risk assessments.
• Oversee complaint management processes for regulatory exposure.
• Develop risk-based compliance monitoring plans.
• Escalate significant compliance concerns to executive management and the Board.

Consumer Compliance Oversight

• Oversee compliance with applicable federal and state consumer protection laws and regulations, including but not exclusive to TILA, RESPA, FCRA, ECOA, FHA, CRA, GLBA

Fair Banking and Consumer Protection

• Oversee Fair Lending, Fair Banking, and UDAAP programs.
• Monitor for discriminatory practices and disparate impact risks.

Training and Culture

• Develop and maintain enterprise compliance training programs for employees, officers, and directors.
• Promote awareness and understanding of compliance responsibilities across the organization.

Third-Party Risk and Product Governance

• Participate in new product, service, and delivery channel reviews.
• Oversee time-sensitive compliance reviews of marketing materials.
• Evaluate compliance implications of strategic initiatives and partnerships.
• Provide compliance oversight for significant third-party, fintech, and vendor relationships.

Issue Management

• Track and ensure timely remediation of compliance findings identified through:
• Regulatory examinations, Internal Audits, Monitoring activities and self-identification processes

Leadership Responsibilities

• Lead and develop a team of compliance professionals.
• Develop succession plans for key compliance leadership roles.
• Build organizational capability to support growth and strategic objectives.
• Manage departmental budget, staffing, technology, and vendor relationships.
• Maintain direct access to the Joint Board Risk Com

Minimum knowledge/skills

• Bachelor's degree required.
• Advanced degree (JD, MBA) preferred.
• Professional certifications preferred, including:
• CRCM (Certified Regulatory Compliance Manager)
• CAMS (Certified Anti-Money Laundering Specialist)
• CAFP (Certified AML and Fraud Professional)
• CIA (Certified Internal Auditor)
• Other relevant certifications
• Minimum 15 years of progressively responsible experience in regulatory compliance, risk management, legal, or governance functions within the banking industry.
• Minimum 7 years in a senior compliance leadership role.
• Experience within a bank or bank holding company with assets between $10 billion and $50 billion preferred.
• Demonstrated experience working directly with federal and state banking regulators.
• Experience with mutual bank governance structure.

Physical Requirements

• General Office Equipment
• Keyboard Dexterity
• Prolonged Sitting

Salary Range

$195,000 - $255,000

Liberty Bank Benefit Offerings

• Medical, dental, and vision coverage
• 401K with Employer Match
• Pension Plan
• Employer-paid life and disability insurance
• HSA option
• FSA option
• Employee Assistance Program (EAP)
• Telehealth and wellness resources
• Supplemental insurance options
• Pet insurance and legal plan benefits
• Paid Time Off (PTO)