Salem Five is a growing regional financial services organization with a rich history of over 160 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.
Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families.
Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we’re all about.
JOB DUTIES AND RESPONSIBILITIES include, but are not limited to the following:
- Support implementation of an effective legal compliance system. At the direction of Bank Counsel, ensure that the legal affairs of the Bank and its affiliates are attended to in an effective and efficient manner, and that all legal records are properly compiled and securely maintained for an appropriate time period.
- Support the Supervision and oversight of the Legal and Complaint Resolution and Third Party Response functions of the Bank.
- Act as a central resource and contact for management and staff on legal matters, as requested. Provide an informed understanding of the Bank’s legal rights and obligations and their practical implications.
- At the direction of Bank Counsel, provide litigation management, conferring with and supporting outside legal counsel on defense strategies and requirements while controlling costs. Ensure that the legal affairs of the Bank are attended to in an effective and efficient manner. Coordinate and maintain central database of all ongoing suits in which the Bank is a litigant, deponent, trustee or party-in-interest. Prepare periodic case status summaries for executive management.
- Ensure proper jurisdiction and negotiate the reduction in scope of legal demands upon the Bank. Supervise the Customer Complaint Resolution and Third-Party Response Manager in the preparation and filing of timely responses to subpoenas, third party pleadings, and other valid legal demands and concerning customer complaints. Represent the Bank in court appearances and depositions as necessary.
- Review, comment on, edit, and draft Bank vendor contracts and property leases. Work with the Bank’s vendor manager to ensure the collection and secure storage of all vendor contracts. Work with the Bank’s Facilities Manager to ensure appropriate lease adherence and storage.
- As directed, respond to 93A demand letters and Qualified Written Requests under RESPA. Draft releases and settlement agreements as needed.
- Perform or manage trademark searches as requested. Obtain and maintain the Bank’s trademark registrations; advise business lines on their placement and use. Review periodic monitoring reports for trademark infringement.
- Supervise the preparation and submission of corporate applications to regulatory agencies, as needed. Maintain and renew as necessary the Bank’s insurance license.
- Provide legal counsel to management and staff on legal issues and risk relative to the design and implementation of new financial products and services.
- Keep abreast of relevant federal and state legislative, regulatory and judicial changes in banking, consumer and corporate law, and advise executive and senior management on their impact to the Bank. Monitor, review, and analyze pending legislation and new bank laws and regulations and provide counsel to management. Advise business units in developing and modifying Bank policies and procedures to comply with changing legal and regulatory requirements.
- Draft consumer agreements, forms and disclosures to conform with various laws; review existing agreements and disclosures periodically to ensure ongoing compliance with the law. Advise business lines on the proper use and delivery of customer agreements.
- Prepare appropriate communications to bank regulatory agencies as needed. Maintain a positive working relationship with federal and state regulatory agencies. Provide support as directed concerning regulatory examinations.
- Review incoming trust, probate, corporate and other documents submitted as part of the account opening/maintenance process for proper authorities.
- Represent the Bank by membership and participation in industry and professional organizations.
- Ensure compliance with banking laws and regulations as defined in company policies and procedures pertinent to position.
Education and/or Experience:
J.D. and at least five years’ experience in banking or a bank advisory role.
Certificates, Licenses, Registrations:
Admission to the Bar in Massachusetts.
Physical Demands
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is frequently required to sit. The employee is occasionally required to stand; walk; stoop, kneel, crouch, or crawl; and talk or hear. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision.
Benefits/Incentives: Health Insurance, Dental, Vision, Flexible Spending Account, Health Savings Account, 401k Matching, Tuition Reimbursement, Employee Referral Program, Summer Family Outing, Annual Holiday Reception and more
Salary Range: Competitive Base
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
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.
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)