Director of Compliance and Audit

at Camden National Bank in Portland, Maine, United States

Job Description

The Director of Compliance and Audit is responsible for the development, implementation and monitoring of the Corporation’s compliance and Audit /SOX Program. The program established will ensure that the Corporation remains in compliance with all applicable laws, rules and regulations governing operations and products and provides sufficient reporting to Senior Management, the Audit Committee and the Board of Directors.  This role is responsible for directing all aspects of the Company’s internal audit function, auditing and examining Bank/Corporate operations to ensure the integrity of the Company’s financial assets, effectiveness of internal controls, compliance with operating policies and procedures and Federal and State banking regulations, assisting with audits and examinations by the company’s independent auditors and Federal regulators, and directing the investigation of incidents of fraud; Sarbanes/FDICIA Compliance and Program Administration; Internal Control Assessment and Oversight.            


Essential Duties and Responsibilities: 

  • Compliance Program: 

    • Responsible for the development and maintenance of the Bank’s Compliance Program and Compliance Risk and Control Assessment.

    • Review and establish Compliance policies, procedures and practices to ensure the Corporation remains in compliance with all applicable laws and regulations, including supporting the various departments and areas understand and are operating within all applicable laws and regulations.

    • Oversee second line compliance testing and issue tracking.

    • Oversee the data and reporting requirements for CRA, HMDA and any other regulatory requirements.

    • Responsible for assessing the Bank’s Fair Lending Risk and to oversee the Fair and administer the Fair Lending Policy and Program

    • Responsible for assessing the Bank’s UDAAP Risk and overseeing the UDAAP Policy and Program.

    • Create strong partnerships and provide collaborative support to all of the first line of defense areas.

  • Audit and Sarbanes Oxley(SOX)/FDICIA Program:

    • Develop and manage a strong audit program and procedures for the company.  Annually complete the risk assessment and ensure that an appropriate audit plan is created for the ensuing year.  Ensure that comprehensive audits of all Company departments are completed according to the audit program to assess the accuracy of financial records, the integrity of transactions, the existence and effectiveness of internal controls, and compliance with all applicable policies, procedures and regulations. 

    • Ensure that written audit reports are prepared and presented to department managers for formal responses; discuss audit findings and recommendations with the appropriate division head and the Executive Vice President, CRO & Enterprise Risk Management and that all audit results and the progres under the plan are shared with the Audit Committee on a quarterly basis. 

    • Act as management liaison to CNC Audit Committee and provide administrative support to the Board Committee.

    • Oversee the administration of the Sarbanes Oxley(SOX)/FDICIA program working with the line areas as to Risk Assessment and Testing Plans.  Track and report all results to the Disclosure Committeee and the Audit Committee and be a resource and provide training on internal control activities.  Coordinate and support the Management Disclosure Committee meetings. 

    • Supervise and direct the activities of the outsourced audit vendors(s) that complete both internal audit and control testing, as well as, loan review and external audit work

  • Budget:  Manage the annual compliance and audit budget, as part of the Risk Budget overall.

  • Staff Management: Manage and oversee the compliance and audit staff, including performance reviews, time and attendance, workflow management, development needs, and employee relations. Responsible for employee growth/development and retention.

  • Key Stakeholder Partnerships/Collaboration: Partner with key stakeholders and deliver and/or provide support for organizational programs specific to compliance related activities, the three lines of defense model and audit/SOX related activities. 

  • Consulting/Expertise: Recognized as the Bank's authority on compliance and audit related matters, provide subject matter expertise to internal and external clients across the Bank as needed. Provide advice and counsel to management on complex compliance and audit related issues or concerns.   

  • Third Party Vendor Management: Maintain compliance and audit vendor relationships in accordance with Bank vendor management and procurement policies. 

  • Security Training & Awareness: Direct training requirements and content for new employee and ongoing/continuous training of Bank employees in security and safety measures; including Robbery, Active Shooter, Emergency Procedures.

  • Key Activity Reporting/Metrics: Prepare and report annually to the Board of Directors on status of the Bank's Physical Security Program and demonstrate compliance with the Bank Protection Act. Prepare and report on key security activities periodically to executive leadership and key stakeholders as required.


Basic Qualifications

  • Bachelor’s Degree

  • 5-7 Years of applicable experience such as law enforcement, corporate security functions or a military specialty involving physical security or critical infrastructure law enforcement programs

  • Prior experience interfacing with local, state and federal law enforcement; and private sector corporate security organizations

  • Prior knowledge of Federal Statutes (Title 18) and similar state penal statutes that relate to threats, robbery, Bank Protection Act, protests, trespassing, vandalism, etc.

  • Demonstrated ability to communicate effectively with in times of crisis and incidents; excellent communication and interpersonal skills


Preferred Qualifications: 

  • 5-10 Years of applicable experience as outlined above

  • Certifications such as CPA, Audit Certifications, CRCM or J.D.

  • Direct experience in managing a Compliance and/or Audit Team in a Banking environment

  • Ability to professionally represent the Bank on industry specific organizations and workgroups


Skills and Abilities: 

  • Proficient with Microsoft Office applications; Advanced Excel and PowerPoint

  • Strong problem solving and analytical skills preferably in Financial Services industry

  • Excellent communications (oral and written), interpersonal / business partnering, and organizational skills

  • Advanced training or experience in project management or change management preferred

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Job Posting: 817813

Posted On: Sep 15, 2022

Updated On: Sep 15, 2022