Mission Federal Credit Union
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at Mission Federal Credit Union
SUMMARY: Serves as the credit union’s Compliance Officer. Directs and supervises Mission Fed’s Regulatory Compliance Program. Oversees the development of an evolving Bank Secrecy Act program. Assumes the lead role in the development and management of a regulatory compliance program, including proactive identification and communication of compliance deficiencies, inherent risks, and the development of programs, policies and procedures to identify, manage, and mitigate compliance risks. Coordinates with applicable internal and external resources to detect, measure, and monitor internal and external compliance risks that face the credit union industry and Mission Fed in the development and maintenance of the compliance program. Develops and promotes processes to maintain regulatory compliance in all areas of Mission Fed, including safeguards against deterioration of regulatory compliance by maintaining awareness of established procedures and policies.
1. Regulatory Compliance:
- Develops and maintains a comprehensive regulatory compliance management program for all areas of the credit union to ensure all areas comply with state and federal regulations.
- Ensures all compliance deficiencies are corrected in a timely manner.
- Responsible for ensuring credit union compliance with the Bank Secrecy Act (BSA), USA PATRIOT Act, Anti-Money Laundering (AML), and OFAC laws and regulations.
- Directs the overall compliance training of credit union staff.
- Drafts and maintains member disclosures, including but not limited to new account disclosures, membership disclosures, card disclosures, online banking disclosures and promotional disclosures.
- Participates in cross-functional projects, providing compliance support and guidance with new and updated products and services.
- As appropriate, leads and supports operational changes to respond to regulatory revisions.
- Reviews all marketing materials and website pages to ensure regulatory requirements are met.
- Monitors the progress of applicable proposed changes to federal and state financial institution regulations. As warranted, provides comments to regulators on proposed regulations affecting the credit union.
- Develops, participates in and reviews proposed changes in the credit union policies and procedures for compliance with applicable rules and regulations. Recommends policy and procedure changes to facilitate the credit union’s compliance program.
- Pro-actively identifies and communicates deficiencies or issues with regulatory compliance, and provides guidance in the development of alternative solutions or implementation of corrective action. Reviews compliance examinations, audits and assessments and facilitates corrective action.
- Conducts research and provides written responses to inquiries of a regulatory or compliance nature for credit union management.
- Assists outside examiners and auditors with reviews, assimilating the information which is necessary to complete audits and examinations.
- Manages the activities of the Compliance Specialist. Ensures the duties performed by the Compliance Specialist supports the overall compliance activities of the credit union.
- Provides direction, backup and support to the Bank Secrecy Act Officer.
2. Directs Compliance Department Operations:
- Provides leadership, coaching, employee training, problem resolution, and day-to-day functional guidance to Compliance staff.
- Recruits and hires Compliance staff. Prepares and delivers employee performance evaluations. Conducts corrective or progressive discipline sessions as necessary.
- Handles escalated compliance situations from members, departments, and branches as needed.
- Prepares the annual department budget. Recommends areas for process improvements, streamlining, cost efficiency, and savings.
- Designs and maintains an Environmental Risk Scan Program to ensure risks and regulatory changes are identified, communicated and appropriate action is taken.
3. Risk Assessments
- Develops and performs specialized risk assessments as assigned.
4. Special Projects:
- Participates on and/or directs special project teams, committees and focus groups to consider ideas and implements projects/process improvements that support Mission Fed’s strategic business goals and objectives.
- Attends various meetings and training programs, workshops, seminars, and/or conferences for staff and self-development.
- Maintains in-depth knowledge of and complies with all Mission Fed, departmental and security policies and procedures, as well as, federal regulations applicable to the position, including BSA requirements. Completes all required compliance training as assigned.
- Performs other duties as assigned.
Education: Bachelor’s Degree or equivalent is required. Two years of equivalent experience can substitute for every one year of education. CUNA or NAFCU Compliance Officer Certification is required.
Experience: A minimum of 10 years financial institution experience, with a minimum of 5 years in direct supervision and 8 years in administration of financial services compliance (Federal credit union preferred) and BSA compliance.
Skills & Abilities: High-level written, verbal communication and presentation skills are required, along with the ability to communicate with all levels of management, employees, external members, vendors and organizations. Must have ability to perform comprehensive and objective analysis, and possess excellent problem solving skills.
Software: Microsoft Office Suite, Internet, and BSA software (Verafin preferred).
PHYSICAL DEMANDS/WORKING CONDITIONS:
- Constant sitting.
- Occasional walking, repetitive use of the hand involving: simple grasping and fine manipulation, lifting & carrying (0-10 lbs.).
**Critical features of this job are described under the headings above. They may be subject to change at any time due to reasonable accommodation or other reasons. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.**