Compliance Manager

GENERAL SUMMARY

The Compliance Manager is responsible for developing, implementing, and managing the credit union’s compliance program.  This includes ensuring adherence to applicable NCUA regulations, federal and state laws, and internal policies.  Serves as BSA/AML and Identity Theft Officer, and Business Continuity Plan support.  Tracks and reports on findings/recommendations from external auditors, regulators and examiners. Serves as Third Party Vendor Contract Administrator and responsible for coordination, acquisition, organization, timely negotiation and annual review of all third-party vendor relationships.  Ensures consistent audit of that all credit union contractual agreements confirming compliance with contractually agreed terms and conditions.   

ESSENTIAL FUNCTIONS

• Develop and Implement Compliance Programs: This includes creating and updating policies and procedures to ensure compliance with laws, regulations, and industry standards. 
• Monitor Regulatory Changes: Stay informed about changes in laws and regulations and ensure the credit union's compliance programs are updated accordingly. 
• Vendor Management: Supervise the Vendor Management Program administration to ensure compliance.
• Business Continuity Plan Support:  Maintenance of Credit Union’s BCP plan to ensure continued operations during unexpected disruptions.
• Conduct Compliance Reviews and Audits: Regularly review and audit compliance programs to identify and address any weaknesses or gaps. 
• Work with Training and Education: Work with the training department to ensure staff and volunteers are educated on compliance requirements and procedures as well as understanding their responsibilities. 
• Report Compliance Violations: Report any suspected violations to the appropriate authorities. 
• Maintain Records and Documentation: Keep accurate records of compliance activities and documentation. 
• Stay informed about the industry: Continuously update their knowledge of the industry and regulatory landscape. 
• Serve as BSA/AML Officer: Administer the BSA/AML Compliance Program to ensure a system of internal controls is in place to assure on-going compliance.  This includes identification and reporting of suspicious activities, maintaining and retaining appropriate records, and ensuring staff training is appropriate and completed annually as required for BSA compliance.
• Serve as Identity Theft Officer: Ensure compliance with the ID Theft Red Flag Program, updating the program as needed and staff training is completed.
• Certified Credit Union Compliance Officer and Certified Bank Secrecy Act Professional certifications: Attend seminars and classes to become certified.  Ensure compliance BSA staff certifications are achieved and maintained.
• Compliance Committee: Organize and chair the committee by scheduling and holding regular committee meetings.
• Marketing Advertising Review: Work with marketing to review advertising and ensure accuracy of information and disclosures.
• Fraud Team: Oversee the fraud team to assure full access for investigations and reporting.  Assure the team is informed of latest fraud and scam trends.
• Complaint Management:  Review complaints received via various channels to record and monitor for trends or regulation violations.
• Regulatory Exams: Assist regulatory examiners and external auditors during exams and conduct follow up investigation on findings as necessary.  Perform annual audit of the Internal Audit Team as required by regulatory examiners.
• Board Reporting: Report policy changes, updates or additions on a monthly basis.  Provide BSA reporting monthly and annually as required.
• Official Requests: Respond to official requests regarding subpoenas, search warrants, National Security Letters and other law enforcement requests as legally permissible and in a timely manner.
• EFCU Policies and Procedures:  Maintain knowledge of credit union policies and procedures to assure compliance with federal laws and regulations as set forth by NCUA and other regulatory agencies. 
• Disclosure Reviews: Review credit union member disclosures regularly and assure amendments as regulations change or updates are necessary.

NOTE: The list of essential functions is not exhaustive.  It may be supplemented as necessary.

JOB SPECIFICATIONS

• Requires well-developed interpersonal skills for communicating with leadership, regulators, examiners, auditors, and co-workers.
• Strong understanding of internal Credit Union controls and operations and regulatory process workflow.
• Requires completion of high school education and additional coursework (equivalent to two years of undergraduate study) in business, finance, law, or a related field.
• Must have at least five years’ experience in financial services or legal compliance, preferably credit union or banking environment.
• Knowledgeable of NCUA regulations, BSA/AML, OFAC, and other federal/state laws and regulatory requirements.
• Proactive, detail-oriented, and able to educate and influence across departments.
• High degree of integrity, judgment, and discretion.
• Requires PC proficiency and knowledge of Word and Excel software programs.

PHYSICAL REQUIREMENTS

Sitting = Continuous                                               Crawling = Occasional
Standing = Frequent                                              Climbing = Occasional
Walking = Frequent                                                Balancing = Occasional
Driving an automobile = Occasional                       Reaching Overhead =Occasional
Lifting/Carrying = Occasional                                  Reaching Forward = Occasional  
           Amount of Weight = 15 to 25 lbs.                 Kneeling = Occasional
Squatting = Occasional                                           Push/Pull = Occasional
Bending = Occasional                                             Twisting = Occasional

 

DISCLAIMER

The above information on this description has been designed to indicate the general nature and level of work performed by employees in this classification.  It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job.