Compliance Officer will be responsible for coordinating the credit union’s overall compliance program with applicable rules, regulations and statutory requirements through the development and maintenance of a comprehensive compliance program.
Essential Job Functions:
Keep abreast of, monitor, analyze, and interpret regulatory and policy changes and the potential impact those changes may have on the business operations of the credit union. Communicates such information to affected management personnel, and makes recommendations for appropriate actions necessary to maintain compliance.
Inform Leadership Team of proposed regulations that may affect their area of operations. In consultation with Leadership Team, analyze and provide written response to proposed new regulations and/or amendments to existing regulations that significantly impact our Members or our operations within allotted time frames established by the regulatory agencies.
Maintain compliance review calendar and conduct compliance reviews in accordance with established standards and practices.
Participate in the development of new products, services and promotions and provide input regarding compliance concerns relevant to proposed and current products and services offered by the credit union.
Participate in and review proposed changes to credit union policies and procedures for compliance with applicable laws, rules and regulations, and provide recommendations for any necessary changes.
Review, revise and develop credit union forms, contracts, agreements, and disclosures to ensure compliance with applicable laws, rules and regulations. Interface with legal counsel and/or bonding agency to ensure that the terms and conditions set forth in forms, contracts, agreements and disclosures are accurate, complete, and meet the needs of and properly protect the credit union.
Whether self-initiated or at the request of management or staff, conduct research of individual regulatory-related matters (i.e., practices, proposals, etc.), identify and communicate regulatory compliance, deficiencies or potential problems, and provide guidance in the development of alternative solutions or implementation of corrective action. Provide written responses (as applicable) to inquiries of a regulatory nature, supporting analysis, conclusions and recommendations upon well-investigated and documented research of regulatory requirements.
Coordinate with the Learning and Development team to develop and administer a Compliance Training Program which effectively addresses requirements of applicable laws and regulations, the credit union’s related policies and procedures, and team member responsibilities.
Report as appropriate, regulatory matters, concerns, and/or the overall compliance condition of applicable divisions, departments, operations or functions within the credit union to senior management.
Act as backup to the Compliance Specialist position, including the review of all advertising and marketing material for compliance.
All team members must comply with regulatory compliance and assigned training requirements including but not limited to BSA regulations corresponding to their specific job duties. Failure to do so may result in disciplinary and other employment related actions.
All other duties as assigned.
Knowledge, Education, and Experience:
Minimum 5 years experience as a Compliance Manager