Compliance Director

Job Description:

Essential Functions & Responsibilities:

• Create and maintain an overall compliance program. Review and audit all appropriate areas to determine the degree of compliance with various laws including but not  limited to, employee account monitoring, inactive membership management, ACH audit, IT reporting, and the IRR/ALM model.
• Performs various quality control reviews and monitoring through auditing samples such as loans, new accounts, account receivable, wires, and cash audits. Identify and note exceptions, identify factors causing exceptions, effect corrections, track trends, and make recommendations to reduce exceptions.
• Analyzes new and pending laws which will affect the Credit Union’s current operations, develops and periodically reviews and updates policies and procedures to ensure compliance with the applicable Federal and State laws and regulations. Notifies all affected parties of compliance changes and assists them in understanding, addressing and adopting the new procedures.
• Responsible for managing the Credit Union’s BSA compliance program. Ensure regulatory and policy compliance requirements, which include those efforts in compliance with the Bank Secrecy Act (BSA), Office of Foreign Asset Control (OFAC), Anti-Money Laundering (AML) regulations, Identity Theft Red Flags and other compliance related policies. Responsible for adhering to filing deadlines for Currency Transaction Reports (CTR) and Suspicious Activity Reports (SAR) as well as review of documentation for warrant and accuracy.
• Compliant documentation. Prepares accurate and timely reports and make presentations to management, the President/CEO, and Board of Directors as requested. Complete vendor due diligence and vendor contract review at inception and upon renewal or change of terms. Monitor renewal and cancellation timelines for outstanding contracts. Review and approve all forms, disclosures, and advertisements that have been created or purchased prior to finalization. Provide overall document and record management for the credit union. Implement and oversee record retention schedules for all records (imaged and non-imaged).
• Cooperate with examiners and internal or external auditors. Provide requested information necessary to complete audits and examinations.
• Performs other job related duties as assigned.

Performance Measurements:

• Prepare, maintain, and deliver assigned reports, and tracking systems to accurately identify, correct and monitor selected exceptions and risks.
• Develop, maintain, and demonstrate current knowledge of applicable State and Federal Laws and Industry Regulations to ensure the Credit Union’s policies and procedures remain compliant and are adhered to in all areas.
• Serve as the Bank Secrecy Officer for the Credit Union.
• Keep management informed of key operating issues affecting the credit union or any department.
• Provide informed, professional, accurate service and support to all members and associates.
• Review all Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) in a timely manner to ensure compliance with policies, procedures, and BSA rules and regulations.
• Develop and maintain a library of compliance resources to enable employees to educate themselves in relevant areas.
• Ensure timelines are met for periodic audits.
• Ensure audit and examination findings are addressed accurately and timely.

Knowledge and Skills:

Experience:     Five to ten years of similar or related experience
Education:      (1) A bachelor’s degree, or (2) achievement of formal certifications recognized in the industry as equivalent to a bachelor’s degree (e.g., information technology certifications in lieu of a degree).
Interpersonal Skills:     Motivating or influencing others is a material part of the job. 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. The role requires a significant level of trust or diplomacy.
Other Skills Excellent communication skills (written and verbal), leadership skills, interpersonal skills, organization skills, computer skills; pays attention to details; and has the ability to react to change positively; and to identify and resolve problems effectively and efficiently.