Compliance Officer, Senior - Fraud & Payments

Overview

The Senior Compliance Officer is responsible for ensuring that the credit union is operating in compliance with applicable laws, regulations, rulings, and credit union policies and procedures related to, fraud prevention, retail payments systems, and check processing. This senior level position will own developing, implementing and administering all aspects of the credit union’s compliance program related to fraud mitigation and retail payments systems. Advises leadership on emerging fraud trends, payment security concerns, and regulatory updates, and works closely with business units to implement controls to mitigate risk and ensure regulatory compliance.

Essential Functions

• Acts as subject matter expert for fraud prevention, payments regulations, and security compliance, including but not limited to card and retail payment systems, ACH, wire transfers, and digital platforms for payments and money movement.
• Interprets and applies new relevant regulations, ensuring that policies and procedures reflect the intent and requirements of such regulations. Collaborates with business units to revise and create procedures and controls.
• Advises senior leadership on emerging fraud risks and industry trends, working to proactively identify, assess, and mitigate risks that could affect the credit union’s payments operations or expose it to fraud.
• Leads the development and execution of fraud and payments compliance testing and monitoring programs. Collaborate with other business units to resolve fraud and payments -related incidents and ensures appropriate follow-up actions are taken, including reporting to regulatory bodies.
• Prepares detailed reports on compliance status, fraud trends, and regulatory updates. Provides guidance on development of incident response protocols for fraud and/or payment situations.
• Lead efforts to resolve fraud and payment related compliance issues, contribute to quality control program and testing; issues may result from regulator(s), the fraud or payment department(s), compliance department, internal or external audits, or industry guidance.
• Researches and resolves compliance-related issues and inquiries, particularly those that relate to fraud and payment compliance.
• Stays current on industry standards, trends, and proposed and actual changes relating to relevant compliance topics.
• Collaborate with first line of defense risk officers to manage complaint trending and root cause analysis, as they relate to fraud and payments.
• Other duties as assigned.

Knowledge, Skills and Abilities

• Strong understanding of fraud prevention strategies and regulations affecting payments systems, including PCI DSS, ISO 20022, NACHA rules, and federal and state anti-fraud regulation.
• Strong knowledge of regulatory frameworks for electronic payments, ACH, wire transfers, card,and retail payment networks and devices, with expertise in related compliance requirements. UCC, TILA/ Reg Z, NACHA, Regulation CC, Regulation E, and Instant Payment knowledge is essential to the role.
• Strong analytical and problem-solving skills, using data to identify trends, risks, and opportunities to improve credit union compliance.
• Experience with MeridianLink Loans PQ loan origination system, DNA, Payment Exchange, DTS/Quavo, Friday or similar core operating system, Encompass or similar mortgage lending origination and servicing systems a plus.
• Knowledge of traditional payment networks, such as credit/debit/ATM networks, as well as emerging faster payment networks is essential to the role.
• Essential understanding of payment networks such as Visa/Mastercard, and unaffiliated POS and ATM networks (Pulse, Accel, Co-op) and network issued mandates.
• Demonstrated strong organizational skills, with the ability to prioritize and coordinate various assignments simultaneously.
• Ability to work independently and function under limited supervision while exercising sound judgment, speed, and accuracy.
• Effective time management skills and the ability to work both independently and collaboratively.
• Ability to work effectively with various teams, exhibiting strong interpersonal skills.
• Identify tasks and create and manage a project plan in coordination with other departments.
• Excellent verbal and written skills to effectively communicate complex legal and regulatory issues. Ability to provide concise, professional written documentation and recommendations in response to compliance research requests.
• Strong knowledge and proficiency with Microsoft Office Suite.

Minimum Qualifications

• Minimum of 10 years of experience in pertinent compliance area(s), and working with related issues and reporting requirements OR

• 10 years of applied operational experience in fraud prevention, payments systems compliance, or related areas in the financial services industry.

• Bachelor’s Degree in Finance, Business, or related field preferred.
• Certified Regulatory Compliance Manager (CRCM) certification, Credit Union Compliance Expert (CUCE) designation or NAFCU Certified Compliance Officer (NCCO) designation is preferred.

At OnPoint, we believe a workplace that reflects the richness of the world fosters a welcoming and empowering environment for everyone. We're committed to equity and inclusion, and consider all qualified applicants embracing every race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and your unique background.

We encourage you to apply if you're passionate about this opportunity and have the core qualifications. Your unique experiences and skills are what make you a strong candidate. Don’t let imposter syndrome hold you back! Our recruitment process is designed to be inclusive and accessible to all. If you need any accommodations during the application or interview stage, please let us know. We're dedicated to providing what's necessary to ensure a fair and inclusive experience.