Job Description and Requirements
The Operations Compliance Officer will be responsible for assuring the Credit Union is in compliance with all applicable laws, rules and regulations by developing, implementing and administering the organization's corporate compliance program. As well as, serve in a consultative role to add value and improve the Credit Union's regulatory compliance posture. The Operations Compliance Officer will also supervise compliance related projects for completion by compliance staff and perform and manage duties in a manner which enhances the image and promotes growth of the compliance department.
Essential Functions and Responsibilities:
- Demonstrate a proficient level and ongoing understanding of regulatory agency directives, memoranda, interpretive rulings, laws, and regulations applicable to the credit union including, but not limited to, enforcement actions, circulars, supervisory highlights, and letters to credit unions.
- Participate and actively engage in and provide insights, expertise, and support to Annual Risk Assessments, Internal Audits, Issue Management / Corrective Actions Plans, and projects.
- Act as a Subject Matter Expert (SME) for compliance inquiries of high complexity including, but not limited to, being familiar with related policies and standards, attending business related meetings and forums to stay abreast of changes in processes and requirements, and communicating with and providing guidance to business units, as applicable.
- Assist in the review, revision, and/or design of forms, disclosures, notices, products, web site, programs, advertisements, and promotions to minimize exposure to litigation and ensure consistency with operational practices, laws and regulations.
- Lead proposed changes to credit union policies, procedures, and credit union compliance training for content accuracy.
- Gather information regarding new product development, business projects and initiatives to provide input regarding compliance questions and concerns with support, as needed.
- Review and monitor member complaints and resolution for analysis of trends by product/service, concern, or regulatory topic.
- Assist front line business units to identify, establish, and document risks and controls to ensure compliance with applicable laws and regulations.
- Perform ongoing compliance monitoring and testing to ensure compliance with policies, procedures and applicable rules, laws and regulations. This responsibility includes research and analysis necessary to validate identified risks are mitigated.
- Identify potential or actual compliance or operational deficiencies through self-identification, complaints, or other engagements and develop corrective action and reporting to ensure adequate resolution.
- All other duties as assigned (note: essential functions and responsibilities may change, or new ones may be assigned at any time with or without notice).
Requirements:
- High School Diploma or G.E.D.
- Minimum of 3 years financial regulatory compliance or audit experience within a financial institution
- Broad knowledge of and practical experience with credit union or other financial institution operating areas, functions, products and services and the applicable laws and regulations
- Ability to conduct thorough research, interpret and understand laws and regulations, and provide workable recommendations and solutions
- Excellent communication, analytical, organizational, problem solving and time management skills
Skills and/or Certifications:
- NCCO (NAFCU Certified Compliance Officer), Bank Certified Compliance Officer, Certified Regulatory Compliance Manager (CRCM), Certified Internal Auditor (CIA), or relevant certification within 12 months in this role. A Bachelor's Degree may be substituted for the certification requirement.
- The ability and willingness to learn and practice the thought leadership principles published by Franklin Covey. Such aptitudes include 'The 13 Behaviors of High Trust Leaders', 'The 7 Habits of Highly Effective People', and 'The 5 Choices - The Path to Extraordinary Productivity'. RBFCU provides several Instructor-Led classes designed by the Franklin Covey Company for employees to learn the expectations.
All qualified applicants will receive consideration for employment without regard to race, color, sex, sexual orientation, gender identity, religion, national origin, disability, veteran status, or other legally protected status.