Risk Specialist

Description

Position: Risk Specialist

Pay Range: $22.91 to $34.37

FLSA Classification: Non-Exempt

This is a hybrid position based at our headquarters in Arcadia, CA.

Who We Are: Foothill Credit Union is a full-service financial institution proudly rooted at the foothill of the San Gabriel Valley (SGV), serving members of our select employer groups (SEGs)—primarily in education, healthcare, and municipal government—as well as individuals, families, and more than 250 businesses in the SGV and surrounding areas. 

Exceptional service is our promise to members. We’ve earned a prestigious five-star rating from Bauer Financial, placing us among the top institutions in our peer group. CUNA recognized us with the 2021 Member Benefits Top Performance accolade for delivering an average direct benefit of $690 per member household. During Q4 2024, we achieved the #1 ranking in overall return of value to members (ROM) among peer credit unions ($700MM–$1B) in California, according to Callahan & Associates. 

As a dedicated community advocate, Foothill actively partners with local businesses and organizations to support meaningful causes. Through events, sponsorships, and fundraising efforts, we actively give back to the individuals and groups that make up the core of our community. 

Benefits and Perks: 

• 100% covered Medical/Dental/Vision for employees 
• 401(k) plan with match
• Profit-Sharing Plan 
• Loan Discounts 
• Paid Holidays 
• Paid Time-Off 

About the Role:  This position is responsible for monitoring, analyzing, and escalating issues and concerns related to compliance, fraud prevention, and risk management activities to mitigate exposure to potentially fraudulent activities and ensure credit union compliance. It plays a vital role on the credit union's audit team and is responsible for assessing the effectiveness of internal controls and ensuring compliance within the consumer and real estate lending and branch divisions. The Risk Specialist involves conducting comprehensive quality control audits of loan files and new accounts, developing systems to track audit outcomes, performing re-verifications on first mortgage loans, and assisting in developing and improving audit procedures. The Risk Specialist collaborates with various departments to strengthen compliance and reduce risks, providing support to other departments as needed. Additionally, this role includes managing assigned Verafin alert queues, and serving as a backup for Verafin Anti-Money Laundering (AML) tasks.

Essential Duties and Responsibilities: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required but may not be all-inclusive. Additional functions and requirements may be assigned by supervisors as deemed appropriate. 

· Perform detailed quality control audits of consumer loans (including autos, Home Equity Line of Credit (HELOC), Home Advantage loans, personal loans, Buy Now and Pay Later loans, and credit card loans)

· First mortgage real estate loans to be reviewed to ensure adherence to internal policies and procedures, also including all federal and state regulations including all secondary market guidelines (e.g., Freddie Mac)

· Perform detailed quality control audits of new accounts that are opened in branches, onsite and online channels, making sure all applications follow CIP guidelines, field of membership eligibility and new account procedure

· Design, implement, and maintain tracking systems to monitor the status of quality control audit findings and ensure timely follow-up and resolution

· Assist in developing and refining quality control audit procedures, ensuring they are up- to-date, comprehensive, and aligned with industry best practices and regulatory requirements

· Identify potential risks within lending practices, including credit, operational, and compliance risks. Provide recommendations for mitigating these risks and improving processes. May develop and/or assist with new audits that present risk to the Credit Union

· Ensure that all loan documentation meets regulatory standards, including compliance with the Truth in Lending Act (TILA), Real Estate Settlement Procedures Act (RESPA), and Equal Credit Opportunity Act (ECOA)

· Prepare clear and concise audit reports summarizing findings, risks, and recommendations. Present reports to management and assist in implementing corrective actions

· Collaborate with the Consumer Lending management, Real Estate lending management, Branch management, and Risk and Compliance management to implement process improvements based on audit findings

· Participate in branch audits including cash counts and operational documentation review to ensure the branch division is operationally sound and in compliance

· Review and properly respond to emails within R&C Inbox in a timely manner

· Support and assist Risk Analyst with Verafin BSA/AML, CTR and Watchlist queues and elder abuse compliance

· Support and assist Risk Analyst with check fraud claims investigation and review

· Support the department around legal inquiries and requests including legal documents review and legal order requests

· Collaborate with Risk Analyst and RCM in providing training and guidance to appropriate staff on audit procedures, compliance requirements, regulatory updates and fraud and loss prevention topics

· Stay up to date with regulatory compliance updates and fraud trends through webinars, seminars, self-paced courses and forums

· Ensure compliance with Credit Union policies and procedures

· Performs other duties as assigned or requested

Requirements

Experience/Education Requirements:

· High School Diploma or GED required

· Minimum of three (3) years of experience in auditing, preferably within a financial institution, with a focus on consumer and real estate lending

· Loan processing and/or DMV experience preferred.

· Knowledge of Credit Union services and products and an understanding of related legal and regulatory requirements is required.

· Knowledge of lending functions, policies, and procedures is preferred.

· Knowledge of CIP, BSA/AML program is preferred.

· A solid understanding of credit union regulations and statutes is required (i.e., Regulation B- Equal Credit Opportunity, Bank Secrecy Act, Lending, etc.)

· Proficient in developing and implementing tracking systems and audit procedures.

Desirable certifications in the following areas:

· N/A

Other Skills and Abilities:

· Excellent analytical, organizational, and communication skills

· Strong ability to handle confidential information

· Ability to work independently and in a team environment

· Ability to communicate effectively with members and team members

· Ability to maintain a good working relationship and provide excellent customer service to all team members, members, and the public

· Able to lead through influence in a collaborative environment by motivating, developing, and directing team members

· Must have a positive attitude and friendly service must be provided to both the membership and all fellow team members at the Credit Union

· Must possess effective verbal and written communication skills.

· Must have advanced knowledge and experience with Windows, Word, Excel, and other computer applications

· Ability to work on flexible assignments and work at different Foothill location

· Must maintain a professional image

· Ensure the work area is clean, secure, and well-maintained

• Must be able to travel within the branch network regularly

· Must have a method of transportation when needed to carry out essential job-related functions; if operating a motor vehicle, must have a valid driver's license and proof of at least minimum automobile insurance coverage as required by the State of California.

Foothill Credit Union is an Equal Opportunity Employer and does not discriminate against any team member or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity, status as a veteran, and basis of disability or any other federal, state, or local protected class.