Senior Lending Compliance Specialist (Senior Compliance Specialist)

About the role

The Senior Lending Compliance Specialist plays a crucial role in ensuring the credit union adheres to all relevant laws, regulations, and best practices. They assist in developing and maintaining comprehensive compliance programs, provide guidance on regulatory changes, and monitor legal and regulatory developments.

Responsibilities

• Assists with the development and maintenance of comprehensive compliance programs to ensure adherence to credit union operational compliance requirements, laws, regulations, and prudent business practices.
• Supports respective departments with guidance and implementation of regulatory and operational changes through impact analysis, team member training, form changes, system enhancements, and creation and revision of Board Policies and standard operating procedures.
• Collects, interprets, and disseminates regulatory and legal information to credit union management.
• Develops detailed and comprehensive analyses of proposed and final regulations and newly enacted state and federal laws to senior management.
• Authors and submits comment letters expressing concerns with or in support of proposed regulations to regulatory agencies, including the NCUA and CFPB, on behalf of credit union senior management.
• Analyzes operating procedures and processes for compliance with legal and regulatory requirements and provides recommendations and guidance to ensure corrective action is taken for identified compliance issues.
• Ensures that Standard Operating Procedures (SOPs) for specific processes are compliant with applicable state laws and federal laws and regulations, as well as secondary market requirements for mortgage loans sold to Government Sponsored Enterprises (if applicable).
• Drafts, reviews, and approves lending-related loan agreements, forms, disclosures, and letters for compliance with legal and regulatory requirements in advance of implementation or use.
• Provides review and approval of marketing materials, advertisements, and all Member communications for compliance with legal and regulatory requirements in advance of publication or distribution.
• Conducts legal and regulatory research proactively, and in response to compliance issues or questions of a highly complex nature received from credit union management, team members, and government agencies.
• Acts as a resource for questions regarding legal and regulatory issues, and in the development of new products and services.
• Works directly with management to identify compliance objectives and determine which processes are key in meeting those objectives.
• Performs in-depth analysis of legal and regulatory requirements and identifies gaps.
• Determines which situations are reportable and which can be addressed within business unit without escalation to senior management.
• Develops recommendations for changes to processes and systems that will minimize compliance risk, improve performance and productivity, and ensure that specific areas of the credit union comply with all relevant laws, regulations, and standards.
• Acts as Compliance liaison to assist with the facilitation of regulatory examinations by the NCUA, CFPB, and external audit firms.
• Develops oral and written presentations to present to management after disseminating legal and regulatory analyses; expresses opinions, discusses complex legal and regulatory requirements in a layman’s manner, and provides recommendations and guidance to ensure compliance with applicable legal and regulatory requirements both during the implementation of new requirements and with existing requirements.
• Conducts presentations and training to credit union staff and leads group meetings.
• Maintains contact with external legal counsel regarding legal and regulatory compliance questions pertaining to programs and products.
• Completes short- and long-term projects as assigned by management.
• Provides support with periodic reporting to senior management.

Qualifications

• A high school diploma or GED is required.
• A bachelor's degree or equivalent years of experience in compliance within the financial industry are required.
• Lexis-Nexis experience is preferred.
• America’s Credit Unions Certified Credit Union Compliance Officer (CUCO) or American Bankers Association Certified Regulatory Compliance Manager (CRCM) certification is preferred.
• Expert knowledge of federal and state consumer protection and regulatory compliance requirements.
• Proficient with Microsoft Office, including Word, Excel, and Power Point.
• Strong analytical skills.
• Strong communication skills, including advanced-level writing, and ability to present complex materials.
• Strong legal research ability using the internet and available resources.

Skills

• Expert knowledge of federal and state consumer protection and regulatory compliance requirements.
• Proficient with Microsoft Office, including Word, Excel, and Power Point.
• Strong analytical skills.
• Strong communication skills, including advanced-level writing, and ability to present complex materials.
• Strong legal research ability using the internet and available resources.

Benefits

Our benefits package includes:

• Competitive compensation within a range of $42.41 - $63.62 per hour.
• Flexible work schedule of 40 hours per week.

Pay

The typical new hire salary offers fall within the minimum to midpoint of a pay range for many candidates. Any offer extended to a candidate will be based upon their unique set of knowledge, skills, education, and experience as well as internal equity.

Schedule

Scheduled Weekly Hours: 40