On an ongoing basis, maintains a current working knowledge of credit union rules, internal controls, and governmental regulations that impact the operations or policies of the credit Researches, reads, understands, reviews, and interprets regulatory issues that impact the credit union. Compiles compliance reference resources for the credit union’s daily use.
Develops, manages, and coordinates implementation of policies, procedures, and internal controls to ensure compliance with applicable laws and Fosters a culture of compliance throughout the Credit union.
Completes all daily Bank Secrecy Act (BSA) reporting for the credit union, such as: Process all Currency Transaction Reports (CTRs) as required; reviewing and analyzing reports to determine if member structuring may be occurring; investigate and gather supporting documentation to provide recommendations to the Chief Administrative Officer regarding the filing of a Suspicious Activity Report (SAR).
Keep current and knowledgeable about BSA compliance issues and regulations through resources which may include newsletters, webinars or seminars.
Serve as designated BSA Compliance Officer for the credit union.
Prepares, and analyzes reports for management and the board of directors detailing compliance activities with conclusions and provides recommendations for improvement. Prepares and files reports with government agencies as directed by law.
Develops plans and conducts periodic reviews to ensure ongoing implementation, accuracy, adequacy, efficiency, effectiveness, and proper application of compliance policies, procedures, and internal
Develop and maintain processes for identifying, assessing, measuring, monitoring, and managing compliance risks as part of the Credit union’s Enterprise Risk Management
Ensures that policies and procedures are updated and are in accordance with evolving regulations, legal requirements, and industry Makes suggestions and recommendations of changes to improve policies and procedures.
Develops, coordinates, and conducts training for all employees and volunteers on compliance issues related to their positions and responsibilities.
Responsible for the credit union’s Vendor Due Diligence
Serves as credit union’s Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act)
Serves as credit union’s Credit Review Manager, which oversees the maintenance of the credit review program.
Assists with internal and external compliance audits and federal Is responsible to develop, implement, and monitor corrective actions of compliance findings identified by staff, federal examiners, and auditors.
Assists in the revision and/or design of forms, products, web site, programs, marketing materials, or promotions to ensure compliance with all State and Federal rules and
Manages the credit union’s disaster recovery & business continuity
Disseminates information, answers questions, and be a subject matter resource for the credit union on all compliance related Communicates complex regulatory issues effectively in both oral and written form.
Assists branches and departments with problem resolution and processes as it relates to their ability to meet compliance and regulatory standards.
Assists with various compliance-related projects as directed by the Chief Administrative Officer or Chief Executive Officer.
Attends meetings as required.
Audit and exam reports demonstrate that the credit union is in compliance with all state and federal
Compliance functions are progressively well coordinated within Departments and
Good business relations exist with outside financial and business
Management is appropriately informed of area activities and of any significant Recommendations are provided as needed. Required reports are accurate and timely.
College degree in Business Administration, Accounting, Finance, or related field preferred. Experience or education in area of research, analyzing, and writing of policy and procedure.
Thorough knowledge of applicable federal and state financial regulations. Understanding of loan procedures, documentation, and audits.
Five years of experience in a financial institution with regulatory compliance experience.
High level of integrity. Ability to review regulations and legal documents and recommend appropriate action Requires attention to detail and observant with accuracy in work
Requires application of sound judgment, analysis, decision-making, and problem-solving Ability to work appropriately and professionally with confidential information