Cannabis jobs at Bank Michigan

JOB SUMMARY

The Senior Risk Officer participates in identifying, measuring, mitigating, monitoring and reporting risks across the Bank. The Senior Risk Officer works with the Chief Financial Officer to build a culture of risk management in the organization. This work includes risk identification, risk assessment, and risk mitigation. The role will lead the development, implementation, and monitoring of appropriate risk mitigation strategies for the Bank within processes, projects, and business activities.

The Senior Risk Officer will accumulate, assess, and report on risks to executive management, working with that group on appropriate courses of action. the Bank's Board of Directors will receive written and verbal reports and updates from the Senior Risk Officer on a regular basis.

The role includes responsibility for establishing risk procedures and routines to support the Bank's risk methodology, including creating business continuity plans to limit risks, recommending management solutions such as insurance, safety and security policies; and, overseeing the implementation of the risk solutions that help optimize operations. The Senior Risk Officer ensures that the bank's policies, procedures, & practices adhere to federal regulations; and, conducting policy and compliance audits, which will include liaising with internal and external auditors.

This role includes managing the daily activities of the team responsible for identifying suspicious activity in violation of the Bank Secrecy Act (BSA), USA Patriot Act, and other Anti-Money Laundering (AML) regulations. The Senior Risk Officer will also be responsible for the Bank's compliance function, with the Compliance Officer reporting to them.

Job Responsibilities:

• Implement and manage an effective legal compliance program.
• Develop and review company policies.
• Advise management on the company's compliance with laws and regulations through detailed reports.
• Create and manage effective action plans in response to audit discoveries and compliance violations.
• Regularly audit company procedures, practices, and documents to identify possible weaknesses or risks.
• Assess company operations to determine compliance risk.
• Ensure all employees are educated on the latest regulations and processes; including advising all levels of bank employees about servicing customers within federal guidelines.
• Resolve employee concerns about legal compliance.
• Maintains insurance policies to ensure they are effective and appropriate for the bank's risk tolerance levels.
• Assessing, measuring, and mitigating the organization's exposure to operational threats, such as supplier problems, political risks, natural disasters, pandemics, and external or internal fraud.
• Developing and implementing risk management policies.
• Evaluates risk for significant transactions, analyzes business processes to determine business' "risk appetite', and develops reports documenting transactional risk.
• Assess and understand all bank risks - including the risk of failing to meet regulatory compliance obligations - and then develop policies, procedures, and internal controls to manage risk at management determined acceptable levels.
• Maintains procedural documentation of relevant tasks/responsibilities.
• Identify opportunities for process improvements within scope of responsibilities or functional area.
• Acts as an advocate for the Bank in all interactions both internally and externally.
• Attend regular trainings/seminars both inside and outside the bank, as needed.
• Assists in preparing various reporting.
• Establishes relationships with other key Bank team members.
• Works harmoniously and collaboratively with team members to accomplish bank objectives.

Other:

• Assist with 3rd party audits and reviews as needed.
• Attends meetings/events throughout the state with periodic overnight travel, as needed.
• Assist with other duties as assigned.

Job Requirements:

Education: Bachelor's Degree in business, economics, finance or equivalent combination of education/experience preferred.

Certifications: CAMS (Certified Anti-Money Laundering Specialist) and CCCE (Certified Commercial Cannabis Expert) preferred.

Required Knowledge, Skills, Abilities, Training and Experience Minimum of 10 years of prior AML/BSA/Risk Management financial institution experience preferred. Previous experience/knowledge of MRBs preferred. BSA knowledge and experience with Shield and/or Engage (or similar platform) preferred. Extraordinary attention to detail and problem-solving abilities. Successful completion of in-house training program. Ability to work autonomously and with little guidance. Displays the confidence and competence to gain/maintain the Bank's credibility. Takes initiative to learn, develop oneself and see thing through from start to finish. Good interpersonal communication and computer skills; ability to operate standard office equipment.

Essential Physical Requirements:

• Ability to converse verbally and in writing with others.
• Ability to utilize general office equipment, Internet and various business software programs (i.e. MS office).
• Occasional exposure to aromas relating to cannabis cultivation, manufacture, storage, etc. when visiting client locations.

• Ability to travel within the state and to the corporate office to attend various events and meetings.

EEO Statement:

Bank Michigan provides equal employment opportunity to all individuals regardless of their race, color, creed, religion, gender, age, sexual orientation, national origin, disability, veteran status, or any other characteristic protected by state, federal, or local law. Further, the company takes affirmative action to ensure that applicants are treated fairly during employment without regard to any of these characteristics. Discrimination of any type will not be tolerated.

This job description does not list all of the duties of the job. Other duties and responsibilities may be assigned. This job description may be revised at any time. This job description is not a contract for employment and either the employee or the employer may terminate employment at any time, for any reason or no reason.

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Bank Michigan is growing to serve the businesses in the Specialty Agriculture industry, offering deposit accounts and supporting services to the cannabis industry. Successful candidates have proven experience in developing new business in this industry and an interest in working to provide deposit solutions to this specialized niche.

JOB SUMMARY

Develops commercial relationships across Michigan in the Specialty Banking industry: cannabis related businesses (CRB). Develops new business relationships through centers of influence such as CPAs, Attorneys, Banking Associations, Chambers of Commerce, Economic Development organizations and CRB related associations. Onboards new CRB deposit relationships with appropriate products and services.

RESPONSIBILITIES

Primary:

• Manages overall Cannabis workflow and processes.
• Calls on and corresponds with prospective Cannabis business leaders and COI's to generate new deposit business for the Cannabis division.
• Establish a strong customer relationship management structure and process to effectively manage the Bank's CRB relationships.
• Oversees the onboarding of new accounts in the AML/BSA compliance and core deposit systems to ensure proper set-up.
• Partners with both internal BSA and third parties to help in the monitoring and oversight of Cannabis related activity.
• Ensures tools such as Shield Compliance Assure system is being utilized to track activity, monitor state licenses for Cannabis customers, and resolves alerts on transactional related activity in a timely manner.
• Assists in product and service development to ensure customer satisfaction and financial institution profitability; recommends upgrades, elimination or future development of under-performing products and services, and development or introduction of new products and services related to Cannabis business.
• Creates/revises the Bank's CRB policies, programs and processes.
• Serves as an industry expert in the Cannabis area with banking associations at the State level.
• Works collaboratively with various third parties for processing and administration of the CRB products/services.
• Establishes relationships with other key Bank team members and participates in joint calling efforts and/or makes referrals for non-CRB products as appropriate.
• Attend regular trainings/seminars both inside and outside the bank, as needed.
• Assists in preparing various reporting.
• Works harmoniously and collaboratively with team members to accomplish bank objectives.

Other:

• Assist with 3rd party audits and reviews as needed.
• Assist with other duties as assigned

QUALIFICATIONS

• Education: Bachelor's Degree in business, economics, finance or equivalent combination of education/experience preferred.
• Certifications: CCBF (Certified Cannabis Banking Professional) Preferred.
• Required Knowledge, Skills, Abilities, Training and Experience:

  Minimum of 5 years of prior financial services business development experience required. Previous experience/knowledge of CRBs preferred. High level of confidence, positivity and tenacity. Ability to communicate with conviction and actively listen for understanding. Ability to build strong rapport with customers and internal team members. Possess genuine entrepreneurial drive and spirit to continually self-improve. Extraordinary attention to detail and problem-solving abilities. Ability to work autonomously and with little guidance.

Essential Physical Requirements:

• Ability to converse verbally and in writing with others.
• Ability to utilize computer, internet and various business software programs (i.e. MS office).
• Ability to travel within the community and to other bank locations to attend various events.

EEO Statement:

Bank Michigan provides equal employment opportunity to all individuals regardless of their race, color, creed, religion, gender, age, sexual orientation, national origin, disability, veteran status, or any other characteristic protected by state, federal, or local law. Further, the company takes affirmative action to ensure that applicants are treated fairly during employment without regard to any of these characteristics. Discrimination of any type will not be tolerated.

This job description does not list all of the duties of the job. Other duties and responsibilities may be assigned. This job description may be revised at any time. This job description is not a contract for employment and either the employee or the employer may terminate employment at any time, for any reason or no reason.

Apply for this job with Bank Michigan

Apply now →

By clicking the "Apply now" button, you'll be leaving Fazow and going to an external job application page for this company. Please research all companies before applying. When applying for jobs, you should NOT have to pay to apply. Fazow accepts no liability or responsibility as a consequence of any reliance upon information on external sites or in jobs listed on fazow.com.