Compliance and Risk Specialist

The Compliance and Risk Specialist is responsible for supporting and administering the Credit Union's compliance and risk management programs. This position helps ensure compliance with applicable federal and state laws, regulations, and industry standards while identifying, assessing, monitoring, and mitigating operational, regulatory, reputational, and strategic risks.

The Compliance and Risk Specialist works collaboratively with all departments to strengthen internal controls, support audits and examinations, conduct risk assessments, monitor regulatory developments, and promote a culture of compliance and risk awareness throughout the Credit Union.

Key Duties and Responsibilities

• Monitor and support compliance with applicable laws and regulations, including: 
  • NCUA Rules and Regulations
  • Bank Secrecy Act (BSA)
  • Anti-Money Laundering (AML)
  • Office of Foreign Assets Control (OFAC)
  • Truth in Lending Act (TILA)
  • Real Estate Settlement Procedures Act (RESPA)
  • Equal Credit Opportunity Act (ECOA)
  • Fair Credit Reporting Act (FCRA)
  • Fair Lending Regulations
  • Privacy and Information Security Regulations
• Assist in maintaining the Credit Union's Compliance Management System (CMS).
• Review policies, procedures, disclosures, forms, and processes for regulatory compliance.
• Conduct compliance monitoring and testing activities.
• Research regulatory updates and communicate changes to management and business units.
• Assist with preparation for regulatory examinations and internal/external audits.
• Track corrective actions and ensure timely resolution of findings.
• Maintain compliance records, reports, and documentation.
• Assist with complaint management and regulatory reporting requirements.
• Coordinate compliance training programs and employee awareness initiatives.

Risk Management Responsibilities

• Assist in the development and maintenance of the Enterprise Risk Management (ERM) framework.
• Conduct risk assessments across operational, compliance, information security, vendor, lending, and deposit functions.
• Identify emerging risks and recommend mitigation strategies.
• Monitor key risk indicators (KRIs) and risk metrics.
• Support business continuity and disaster recovery planning efforts.
• Participate in vendor management and third-party risk assessments.
• Review incidents, losses, and operational risk events to identify trends and opportunities for improvement.
• Assist management with documenting and evaluating internal controls.
• Support fraud prevention and risk mitigation initiatives.
• Prepare risk reports for senior management and committees.

Reporting and Analysis

• Prepare compliance and risk management reports for management committees and leadership.
• Analyze data to identify trends, control weaknesses, and regulatory concerns.
• Develop dashboards and reporting tools to monitor compliance and risk performance.
• Document findings, recommendations, and corrective action plans.

Collaboration and Support

• Serve as a compliance and risk resource for employees and management.
• Promote a culture of regulatory compliance and risk awareness.
• Participate in strategic projects and new product reviews.
• Support organizational initiatives that affect compliance obligations or risk exposure.
• Perform other duties as assigned.

Required Qualifications

Education

• Bachelor’s degree in business administration, Finance, Accounting, Risk Management, Legal Studies, or a related field.
• Equivalent combination of education and experience may be considered.

Experience

• Three to five years of experience in compliance, risk management, audit, financial services, banking, or credit union operations.
• Experience interpreting and applying regulatory requirements.
• Experience conducting risk assessments or compliance reviews preferred.

Knowledge, Skills, and Abilities

• Knowledge of credit union operations and financial institution regulations.
• Understanding of enterprise risk management concepts and methodologies.
• Strong analytical and problem-solving skills.
• Exceptional organizational and project management abilities.
• Ability to interpret regulations and communicate requirements effectively.
• Strong written and verbal communication skills.
• Proficiency in Microsoft Office Suite, particularly Excel, Word, PowerPoint, and Teams.
• Ability to manage confidential and sensitive information.
• Ability to work independently and collaboratively across departments.
• Strong attention to detail and accuracy.

Preferred Qualifications

• Credit union industry experience.
• Certified Regulatory Compliance Manager (CRCM).
• Certified Risk Management Assurance (CRMA).
• Certified Internal Auditor (CIA).
• Certified Anti-Money Laundering Specialist (CAMS).
• Enterprise Risk Management certification or equivalent designation.
• Experience with compliance management systems, governance-risk-compliance (GRC) platforms, or audit management software.

Physical Requirements

• Prolonged periods of sitting and working at a computer.
• Ability to communicate effectively in person, on the telephone, and electronically.
• Occasionally lift and carry items weighing up to 20 pounds.
• Frequent interaction with leadership, employees, auditors, examiners, and external vendors.

Travel Requirements

• Occasional travel to branch locations, training events, conferences, and professional development seminars.
• May attend off-site audits, examinations, risk reviews, or industry meetings.
• Occasional overnight travel may be required.