Compliance Counsel (Concentration In Mortgages)

Position Summary
Performs a variety of compliance-related functions, especially functions related to regulatory compliance. Work involves participating in a comprehensive compliance management plan, including provision of accurate, timely, and comprehensive counsel concerning laws, regulations, case law, and other legal authority impacting the Credit Union, implementation of new legal or regulatory requirements, providing comments on proposed rules, and working with business units to ensure compliance with applicable laws and regulations. The position is responsible for conducting performance, operational, financial, and compliance reviews; providing consulting services to organizational management and staff; and providing input to the development of compliance management plans.
Pay & Benefits:

• Salary Range:
  
  • Level I starting at $120,000 depending on experience
• 100% Company-Paid Health, Dental, Vision, Life, and Long-Term Disability Premiums
• Up to 26 days of PTO within your first year, as well as Volunteer Time Off & 11 Paid Holidays
• 401(k) with a 2:1 Match
• Tuition Reimbursement
• Up to 12 Weeks of Paid Parental Leave

Work Location:
This position offers a hybrid (role with a combination of working both onsite at the Headquarters 2 building in East Lansing and remotely). A schedule of expected onsite and remote workdays will be discussed during the interview process.
An offer of employment with MSU Federal Credit Union and affiliates is contingent upon the agreed work arrangement (onsite/hybrid/remote) and work location. MSU Federal Credit Union may or may not be able to accommodate temporary or permanent changes to work arrangements or allow employment outside the city and/or state of residency in which the new hire resides at the time of offered employment.
Essential Duties and Responsibilities
Compliance Counsel

• Conduct complex research involving determination of applicable and pertinent laws, regulations, case law, and other legal authority, and use results of research to identify issues and make strategic recommendations.
• Monitor and review new laws, regulations, case law, and other legal authority, identifying and summarizing relevant issues, necessary action, and applicable deadlines.
• Assist in the identification and evaluation of the organization's compliance risk areas and provide input to the development of the ongoing compliance management program.
• Perform various compliance procedures, including identifying and defining issues, developing criteria, reviewing and analyzing current processes and procedures, and documenting the credit union's regulatory compliance processes.
• Assist in reviewing the Credit Union's regulatory compliance program and serves as a resource for compliance questions and issues that may arise from various areas throughout the Credit Union.
• Stay informed of all laws, regulations, and other information that affect the Credit Union's operations; determines whether internal controls are adequate to ensure compliance with Credit Union goals, objectives, policies, procedures, and applicable laws/regulations while maintaining economical and efficient use of resources.
• Identify, develop, and document compliance issues and prepare recommendations for improvement; discuss deficiencies, recommend corrective action, and suggest improvements in operations to achieve organizational efficiencies and maintaining regulatory compliance.
• Participate in project meetings to provide the compliance perspective to the development of new products and services, or the modification of existing products and services.

Senior Compliance Counsel

• All of Compliance Counsel duties and responsibilities.
• Demonstrate the ability to independently research a variety of compliance issues.
• Demonstrate significant knowledge of relevant laws and regulations affecting the credit union.
• Demonstrate the ability to accept increasingly complex duties and responsibilities and perform those additional duties to a satisfactory level.
• Demonstrate the ability to independently plan, perform, and complete compliance projects.
• Assist and mentor team members with less experience in expert areas.
• Demonstrate an expert-level knowledge of relevant laws, regulations, case law, and other legal authority affecting the Credit Union.
• Performs all tasks consistently and effectively.

Knowledge, Skills, and Abilities Required
Compliance Counsel

• A Juris Doctorate (JD) and license to practice law in Michigan, or the capability to be licensed in Michigan, is required.
• One to five years of experience interpreting laws and regulations governing a heavily regulated industry is preferred, with further preference for individuals with experience with the laws and regulations related to consumer financial services (i.e., accounts, lending, etc.).
• In-house operational experience at a credit union or other financial institution is preferred.
• Relevant compliance certifications, or active pursuit of such designations, is preferred.
• Extensive knowledge of and skill in regulatory compliance issues affecting credit unions.
• Considerable knowledge of industry program policies, procedures, regulations, and laws.
• A high level of interpersonal and communication skills necessary to relate to and empathize with others and to maintain a friendly and positive attitude.
• Knowledge of regulatory compliance, financial crimes, and fraud related issues affecting Credit Unions is
• required.
• Knowledge of management information systems terminology, concepts, and practices.
• Knowledge of industry program policies, procedures, regulations, and laws.
• Skill in collecting and analyzing complex data, evaluating information and systems, and drawing logical conclusions.
• Extensive skill in planning and project management, and in meeting multiple deadlines.
• Ability to use independent judgment and discretion, and take initiative, in absence of specific direction from the Compliance Manager, VP of Compliance, and/or Chief Risk Officer.
• Skill in negotiating issues and resolving problems.
• Computer skills, including word processing, spreadsheet, systems documentation, and other business software to prepare reports, memos, summaries, and analyses.
• In addition to personal computer, operates standard office equipment, i.e., copier and fax.
• Considerable skill in effective verbal and written communications, including active listening skills and skill in presenting reports and recommendations for improvement.
• Ability to establish and maintain harmonious working relationships with co-workers, staff, and external contacts, and work effectively in a professional team environment.

Senior Compliance Counsel

• All of Compliance Counsel knowledge, skills, and abilities.
• Five or more years of experience interpreting laws and regulations governing a heavily regulated industry is preferred, with further preference for individuals with experience with the laws and regulations related to consumer financial services (i.e., accounts, lending, etc.).
• Ability to organize and prioritize work with minimal direction.
• Obtained, or is successfully working towards obtaining, multiple compliance certifications.
• Ability to assist with the training of other staff on complex regulatory compliance issues.
• Ability to analyze complex problems and perform research in order to provide value-added recommendations for improvement.
• Expert knowledge of and skill in regulatory compliance issues affecting credit unions.
• Expert knowledge of industry program policies, procedures, regulations, and laws.

Physical Demands and Work Environment

• May be required to remain in a stationary position for an extended period of time.
• Ability to operate standard office technology, equipment and tools, which may include many hours of computer and phone usage.
• Occasionally needs to move about inside of office area
• Exposure to potentially hazardous condition, i.e. robbery. Receives detailed instructions and procedures to be followed to minimize the exposure
• This position is able to work in hybrid or onsite working arrangements.

Disclaimer
The above statements are intended to indicate the kinds of tasks and levels of work difficulty that will be required of positions that will be given this title and shall not be construed as declaring what the specific duties and responsibilities of any particular position shall be. It is not intended to limit or in any way modify the rights of any supervisor to assign, direct, and control the work of employees under his or her supervision. The use of a particular expression or illustration describing duties shall not be held to exclude other duties not mentioned that are of similar kind of level of difficulty. MSU Federal Credit Union is an affirmative-action, equal-opportunity employer. Reasonable accommodations may be made for individuals with disabilities to enable them to perform the essential functions of the position.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)