Compliance

Manager of Risk and Compliance

Role:

The Manager of Compliance position serves as the credit union’s Compliance Officer and will lead the development and management of all regulatory issues related to regulations, compliance, inherent risk, and overall policies and procedures.  This position will coordinate internal and external resources to detect, measure, and monitor all compliance risk that face the credit union.  They will analyze new and evolving regulatory issues to ensure that the credit union is prepared and complying with all state and federal regulations.  The candidate will be team focused and work with all department managers, senior management, and board to develop and promote processes that maintain regulatory compliance while supporting process efficiency and member service.  They will ensure that management acts on all areas of weakness noted in external and internal audits along with DBO/NCUA examinations.  They will provide training to management and staff on issues and procedures pertaining to regulatory requirements, fraud, loss prevention, and risk management. They will be responsible for all aspects related to the credit union’s compliance with BSA, AML, and OFAC laws and regulations.

Major Duties and Responsibilities:

  • Performs compliance reviews in compliance with industry standards. Prepares formal written reports identifying exceptions and exposures to regulatory violations and makes appropriate control recommendations. Serves as a compliance resource to credit union employees in all compliance-related matters including training, regulatory exams, and other audits.
  • Reviews and/or prepares reports clearly and concisely, ensuring that management understands the nature of each exception as well as the risk exposure. Writes relevant compliance programs and is available for special compliance audits or risk assessments as requested by credit union management. Recommends procedures to cover regulatory and control requirements.
  • Provides effective management through hiring, supervising, and training of qualified staff members. Monitors staff performance and provides coaching and counseling. Conducts regular meetings to discuss problems, exchange ideas, review current credit union changes in policies and procedures, and to promote positive staff participation. Oversees the development and maintenance of an effective regulatory compliance program by reviewing new and existing laws and regulations to determine appropriate compliance requirements.
  • Serves as compliance officer of the credit union by keeping abreast of regulatory changes. Also manages the business continuity plan and ensures it is properly tested and administered. Correctly analyzes information leading to the effective finding of weaknesses in internal controls.
  • Provides ongoing management and staff training on topics dealing with risk management, loss control, and credit union procedures.
  • Performs other duties and assignments as delegated.  Performs all duties in compliance with credit union policies and appropriate regulatory statutes.

Knowledge and Skills:

  • 5 to 10 years of management experience consisting of three years’ experience in auditing, compliance, risk management or accounting/finance fields.
  • Financial institution experience desirable.
  • Bachelor’s degree, certification, and/or advanced degree preferred.
  • CUNA or NAFUC Compliance Officer Certification preferred.
  • Interpersonal Skills:  Excellent verbal and human relations skills.
  • Other Skills:  Thorough knowledge and application of risk assessment techniques.