Role:

Ensures the policies and procedures of the credit union comply with the appropriate laws and regulations. Analyzes new and pending laws that could directly affect the credit union's current practices. Develops and revises current policies and procedures to ensure compliance. Ensures all affected areas of the credit union are kept informed of changing laws and procedures for implementation to be completed at the appropriate time. Responsible for developing, implementing, and administering all Bank Secrecy Act (BSA) aspects. Advises credit union employees of emerging BSA compliance issues and consults and guides the credit union in establishing controls to mitigate risks.

Essential Functions & Responsibilities:

• Analyzes new and pending laws, including but not limited to the BSA, USA Patriot Act, and OFAC, affecting the credit union's current operations, develops and periodically reviews and updates the policies and procedures to ensure compliance with the applicable federal and state laws and regulations, and notifies all affected parties of changes and the new procedures adopted.
• Develops and implements a compliance program to effectively review all areas of the credit union for compliance. Makes recommendations for change where appropriate.
• Develops and maintains a library of compliance resources. Assists in revising and designing forms, notices, products, website programs, or promotions to ensure compliance with all state, federal, and BSA rules and regulations.
• Coordinates projects that involve information disclosure and policy changes to inform employees of procedures that must be complied with. Ensures that any change in policy or procedure is communicated. Follows up to ensure new procedures are understood, trained, and implemented.
• Prepares and presents periodic reports to the Board of Directors concerning the credit union's current compliance record. Prepares the annual BSA risk assessment.
• Performs daily review, monitoring, and analysis of various reports, logs, and transaction data to identify and report trends and unusual activity, and monitors large currency activity to determine if transactions are suspicious.
• Responsible for reviewing, approving, investigating, and filing all Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs).
• Assists compliance examiners or auditors, making the information necessary to complete their examinations available.
• Researches and responds to information requested from FinCEN and other government entities.
• Performs other job-related duties as assigned.

Knowledge & Skills:

Experience: Five to ten years of similar or related experience.

Education: A bachelor's degree or achievement of formal certifications recognized in the industry as equivalent to a bachelor's degree is preferred.

Interpersonal Skills: Motivating or influencing others is an integral part of the job. Effective communication with contacts inside and outside the organization is essential. Fostering relationships with other entities (companies and individuals) is necessary and often requires the ability to influence and sell ideas or services to members or others. The role requires a significant level of emotional intelligence. Interactions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication.

Other Skills: General office equipment such as calculators, computers, photocopiers, and scanners. Maintains confidentiality related to credit union operations and work-related information. Thorough knowledge of banking practices, policies, procedures, operations, products, services, and regulations. Proficient in Microsoft Office software.

Physical Requirements:

Frequently stands or sits in a stationary position.

This Job Description is not a complete statement of all the position’s duties and responsibilities.