Compliance Officer

About the position

This position is primarily responsible for supporting the organization's Risk Management oversight by ensuring compliance with applicable banking and credit union rules and regulations, working with the Director of Risk and Controls to assess control needs and effectiveness, and participate in vendor inherent and residual risk rating discussions. Partner with various internal teams for continuous improvement of existing policies and procedures based on regulatory changes, internal audits, and examinations by regulatory agencies. Works on issues of diverse scope where analysis of data requires evaluation of various factors.

Responsibilities

• Work with the Director of Risk and Controls and Vendor Risk Analyst in overseeing the risk management of the credit union and its vendors.
• Work with various interdepartmental teams for continuous improvement of existing policies and procedures based on regulatory changes, internal audits, and examinations by regulatory agencies.
• Assist in maintaining the compliance training program and ensures that all personnel receive adequate training specific to their job title.
• Assist management in evaluating new product development, including changes in products and advertising to ensure that compliance is maintained.
• Assist in the preparation for regulatory examinations.
• Assist in the management of alerts and/or other cases that fall under compliance and internal controls.
• Assist in monitoring key control reports to ensure compliance with internal policies.
• Identify and report unusual and suspicious activity under the requirements of the BSA/Anti-Money Laundering Act.
• Ensure compliance with OFAC/USA PATRIOT Act and the Customer Identification Program as applicable to your position.
• Investigate ADHOC regulatory related issues.
• Serve as backup to the access management process.
• Serve as back-up Safe Act Officer.
• Evaluate complaints for regulatory violations or concerns, root cause analysis, review the response, present to the board and/or supervisory committee if necessary, and maintain tracking of all escalated complaints or lawsuits against the credit union.
• Serve as a member of the Enterprise Risk Management team.
• Always represent the best interests of the Credit Union in words and actions.
• Complete all required training on or by the assigned due date(s).
• Perform other duties as assigned.

Requirements

• Bachelor's degree or at least two to three years' related experience and/or training; or equivalent combination of education and experience.
• Financial institution or credit union experience is preferred.
• Bondable upon initial employment and continue to be bondable throughout term of employment.