Risk Management and Compliance

The Risk Management and Compliance team at StonehamBank is responsible for identifying, assessing, and mitigating potential risks to ensure regulatory compliance and safeguard the bank's operations. They develop and implement policies and procedures that align with state and federal regulations, monitor compliance with Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) requirements, and ensure the bank's practices uphold its commitment to community involvement and ethical standards.