Compliance Officer

Role:

To assist the credit union in the achievement of its goal to always make a positive difference in each

member's financial life. This is accomplished by ensuring the policies and procedures of the Credit

Union comply with the appropriate laws and regulations.

Major Duties and Responsibilities:

• While meeting the service standards of the credit union, analyze new and pending laws and regulations which will affect the credit union’s operations, periodically review and update policies, procedures, disclosures and documentation to ensure compliance with applicable federal and state laws and regulations and notify all affected departments of such changes.
• Work with the Projects team to ensure all new services products being considered by the credit union are in compliance with federal and state laws and regulations.
• Provide support on any updates to current services and products for how the changes could affect other departments and their processes from a compliance perspective.
• Perform all responsibilities required of a Bank Secrecy Act (BSA) Compliance Officer, including ensuring the credit union’s compliance with all BSA and anti-money laundering laws and regulations, completing required board reporting, coordinating completion of BSA and OFAC risk assessments, and making the final decision on filing Suspicious Activity Reports.
•  Maintain vendor management files, ensure compliance with vendor management program and policy by each department and perform or manage due diligence on new and existing vendors.
•  Review and approve Marketing materials to make certain they comply with all current rules and regulations.
•  Facilitate and perform compliance training for credit union staff, management and the Board of Directors.
• Ensure all office locations and ATMs/ITMs are properly displaying all required disclosures, posters, signage, etc.
• Perform other job related duties as assigned. 

Expectations:

1. To deliver high quality member service by meeting service standards.

2. To maintain a continuous study of applicable State and Federal Laws to ensure the Credit Union's policies and procedures remain compliant with the appropriate laws.

3. To ensure departments and staff are made aware of all new changes affecting their compliance within the required time frame as set down by management.

4. To keep management informed of key operation issues affecting the department.

5. To keep informed of current fraud trends and methods to prevent loss.

6. To provide independent, effective evaluation of internal controls, processes, policies and procedures for compliance and risk exposure.

7. To follow the credit union’s Bank Secrecy Act and anti-money laundering policies and procedures, including running OFAC searches, completing investigative reports of suspicious activity and currency transaction reports timely and without error.

8. To maintain a professional work environment, promote teamwork, build respect among coworkers and present a businesslike appearance.

9. To follow all security policies and procedures and report discrepancies or suspicious activity to manager immediately.

Knowledge and Skills:

• Experience: Three years to five years of similar or related experience.
• Education: (1) A two year college degree or (2) Completion of a specialized course of study at a business or trade School or (3) completion of a specialized and extensive in-house training or apprentice program. Applicable Compliance and Bank Secrecy Certifications preferred.
• Interpersonal Skills: A significant level of trust and diplomacy is required, in addition to normal courtesy and tact. Work involves extensive personal contact with others and/or is usually of a personal or sensitive nature. Work may involve motivating or influencing others. Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary and often requires the ability to influence and/or sell ideas or services to others.
• Other Skills: Good communication skills.
• Attention to detail and interpretation of legal regulations.