Compliance Officer

The Compliance Officer is responsible for developing and maintaining compliance programs, reviewing policies as requested, providing insight, interpretation and guidance on policy of compliance and advising management on possible risks. The Compliance Officer ensures that the credit union is current on various regulatory requirements, and that employees are in adherence with internal procedures and policies.   The incumbent is responsible for hiring and supervising assigned staff.

Performs appropriate research and provides answers and/or solutions to compliance-related questions from across the credit union.

Provide regulatory guidance and advice to Lending, Retail Banking, Digital Banking, etc. 

Keeps credit union leadership informed of compliance-related topics via periodic Regulatory Compliance Team meetings.

Fosters relations between the Business Lines and Internal Audit over compliance matters.

Evaluates the impact of existing and new regulatory changes to ensure appropriate stakeholders are informed and necessary changes are implemented timely.

Designs, develops, and coordinates the preparation and ongoing review of policies, procedures, training materials, and other communication tools to ensure departments meet compliance requirements.

Plans and assigns the annual compliance training plan for the CU.

Drafts and reviews regulatory compliance policies and procedures for the annual approval.

Performs risk assessments for various compliance areas to determine residual risk and appropriate controls as well as any gaps for required remediation.

Gather documents and coordinates the monitoring and testing for the CU based on the approved monitoring and testing plan.

Meets with business units to review testing results and assist with preparing the management action plans for any compliance issues identified.

Works closely with Marketing to review and provide feedback on marketing materials and other company initiatives.

Serves as an active member of the Compliance Committee maintaining a high level of Compliance expertise, including but not limited to, consumer compliance laws and regulations, and a working current knowledge of emerging risks, how they may impact the Credit Union, and mitigating controls.

Point of contact on all Compliance exams and the compliance portion of any other exams and internal audits.

Developments and manages credit union wide compliance training program. Proactively manages and updates training to ensure changes in relevant laws and regulations are indoctrinated into all affected departments and personnel.

Facilitates remediation of compliance audit findings by training staff to make corrections and prevent future violations.

Assists in vendor due diligence and special projects as directed by management to evaluate risks.

Manages, trains, mentors and completes performance evaluations for Compliance Department staff when the department grows.

Performs periodic compliance reviews in order to self-identify any potential compliance weaknesses and take prompt, corrective, documented action to address the weaknesses identified.

Consumer complaint management. Maintains responsibility of managing, documenting and tracking the consumer complaint program. Provides periodic updates to the Senior Management Team and annual UDAAP updates to the Board of Directors.

Five-ten years of related compliance, risk, and/or audit experience in the financial services industry

Bachelor’s degree in business, accounting or related field; banking schools and/or an advanced degree is preferred.

Professional certification in the field of compliance or auditing is preferred such as NCCO, CRCM, and CFE.

Experience with Quality Control and Quality Assurance in a Financial Institution with specific experience in deposits and lending is required.

Experience drafting and reviewing compliance policies, procedures, training materials, complaint responses and marketing materials.

Must possess critical thinking, analytical, and organizational skills and should possess the ability to collaborate and build partnerships with multiple business units.

Or equivalent combination of education and experience

Proficiency in computer applications such as Microsoft Office Suite.

In-depth knowledge and experience with statistical analysis is preferred.

In-depth knowledge of Consumer deposits and lending products and services is preferred.

Thorough knowledge of key CU regulations.

Ability to interact tactfully and effectively with all levels of management, regulators, and examiners while maintaining strict confidentiality.

A significant level of trust, credibility and diplomacy is required. In-depth dialogue, conversations and explanations with internal customers, direct and indirect reports and outside vendors can be of a sensitive and/or highly confidential nature. Communications may involve motivating, educating and/or advising others on matters of significance. 

Strong interpersonal, communication, problem solving, and organizational skills with the ability to work independently, as well as, collaboratively.

Strong decision making and leadership; prior leadership training is helpful.

Analytical decision-making ability with attention to detail.

Has knowledge of and adheres to credit union policies and procedures and all regulations related to the bank Secrecy Act, the USA Patriot Act and OFAC.

Ability to work the hours needed which may extend beyond the defined work schedule when operating conditions dictate.

Ability to lift up to 15 lbs., with or without assistance, in compliance with ADA.