Compliance Officer

About the Role

Responsible for effective compliance and loss prevention programs and management functions for compliance and vendor management. Ensure ASE is compliant with appropriate laws, rules, regulations, accepted business practices, and internal policies. Implement and maintain adequate systems of policies, procedures, and internal controls. Review and analyze industry trends and regulatory changes to identify and correct weaknesses in current policies and procedures. Direct strategies, controls, and measures to monitor and mitigate risk and protect the credit union's assets. Oversee the fraud and BSA departments; reports to the VP of Risk Management.

Responsibilities

• Manage the compliance program to ensure adherence to internal, federal, and state rules, regulations, policies, and procedures.
• Oversee vendor management system and work with senior management to prescreen vendors and conduct annual vendor reviews.
• Conduct and document risk assessments of various programs, departments, and systems to identify areas most susceptible to noncompliance.
• Evaluate existing internal controls and procedures to determine their effectiveness in identifying, detecting, and preventing areas of noncompliance.
• Prepare monitoring reports on compliance issues identified through risk assessments and follow up on the findings.
• Regularly assess industry fraud trends, emerging threats, and technology opportunities impacting compliance management performance and effectiveness for prevention.
• Ensure all departments are informed of and implement changes to laws, policies, and procedures related to compliance areas.
• Review each branch's operations, including monthly audits and logs, to ensure compliance with applicable regulations and internal policies, as well as to monitor employee compliance performance.
• Conduct surprise branch audits, including all cash drawers, recyclers, teller infinity machines, vaults, ATM cassettes, card stock, and safe deposit boxes.
• Provide compliance oversight, guidance, and recommendations for departments and programs.
• Provide training to educate team members on compliance risks and best practices to ensure a robust understanding of these key areas.
• Perform follow-up and document the actions taken or not taken by departments, as well as the results.
• Maintain proficiency in the core system and perform compliance monitoring of software.
• Manage the development, testing, and implementation of new rules, profiles, and strategies to improve program performance.
• Conduct periodic reviews and update existing rules or implement new strategies to mitigate noncompliance and financial loss or improve compliance-related initiatives.
• Review compliance findings identified in external audits from NCUA, ACUA, CPA, internal auditor, and Supervisory Committee to ensure all findings are corrected timely.
• Prepare responses to internal and external audits to resolve specific findings.
• Update policies, procedures, and processes to prevent the recurrence of audit findings and ensure ongoing compliance.
• Manage direct reports to maximize productivity, efficiency, and the potential of the company's human assets, including hiring, directing job assignments, monitoring staff performance, coaching, counseling, training, and assuring compliance with regulatory requirements and organizational mission, values, policies, and work rules.
• Appraise performance and provide recommendations for staff compensation, promotion, and termination, as appropriate.
• Determine personnel requirements and establish work schedules.
• Perform all other job responsibilities as assigned by management.

Requirements

• Minimum five years of experience in compliance or risk management at a financial institution.
• Bachelor's degree in business or related field or equivalent experience in compliance, risk management, fraud, or financial investigations for the equivalent number of years.
• Preferred but not required: Certified Compliance Officer Designation, Credit Union Compliance Expert, or Certified Risk and Compliance Manager.
• Must be bondable.
• Maintains confidentiality as well as exercises discretion and judgment.
• Extensive knowledge of governmental and financial regulations, laws, and guidelines including NCUA.
• Proficient in compliance software preferred.
• Analytical, strong decision-making, and investigative abilities.
• Attention to detail and accuracy.
• Professional oral and written communication skills.
• Proficient in Excel and Word.
• Ability to manage and prioritize multiple tasks.
• Work in a team environment with minimal supervision.

Skills

• A significant level of trust, credibility, and diplomacy is required.
• In-depth dialogue, conversations, and explanations with customers, direct and indirect reports, and outside vendors can be of a sensitive and/or highly confidential nature.
• Communications may involve motivating, influencing, educating, and/or advising others on matters of significance.

ADA Requirements

Physical Requirements

• Able to bend, sit, and stand in order to perform primarily sedentary work with limited physical exertion and occasional lifting of up to 10 lbs.
• Capable of climbing/descending stairs in an emergency situation.
• Must be able to operate routine office equipment including computer terminals and keyboards, telephones, copiers, facsimiles, and calculators.
• Must be able to routinely perform work on a computer for an average of 6-8 hours per day, when necessary.
• Must be able to work extended hours or travel off-site whenever required or requested by management.
• Capable of regular, reliable, and timely attendance.

Working Conditions

• Routinely perform work indoors in climate-controlled shared work areas with minimal to moderate noise.

Mental and/or Emotional Requirements

• Perform job functions independently and work effectively either on own or as part of a team.
• Plan and direct the work activities of self and others.
• Read and carry out various written instructions and follow oral instructions.
• Speak clearly and deliver information in a logical and understandable sequence.
• Perform basic financial calculations with extreme accuracy.
• Deal calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public.
• Perform responsibilities with composure under the stress of deadlines/requirements for extreme accuracy and quality and/or fast pace.
• Effectively handle multiple, simultaneous, and changing priorities.
• Exercise the highest level of discretion on both internal and external confidential matters.