Compliance Manager

WORK ARRANGEMENT: On-site; full-time; no remote option available

SUMMARY/OBJECTIVE

Ensures policies and procedures meet legal, regulatory, or contractual requirements.  Keeps abreast of regulatory and legal developments governing institution operations, products, and services.  Plans, coordinates, and evaluates the institution's programs to ensure compliance with applicable laws and regulations. Manages effective responses to compliance violations and audit findings.

ESSENTIAL FUNCTIONS

• Serve as the Credit Union’s Bank Secrecy (BSA) Officer and adhere to all regulatory requirements relating to BSA.
• File all CTR’s and SAR’s as needed on a timely basis in accordance with BSA rules and regulations
• Develop and update BSA policies and procedures
• Update and develop all credit union policies as required by state and federal regulations.
• Serve as CRA officer and adhere to all regulatory requirements relating to CRA.
• Oversee all internal compliance for lending, retail services, operations.
• Work with external compliance auditors to ensure all compliance audits are completed timely.
• Prepare all follow-up documentation for findings and recommendations pertaining to compliance audits.  Ensure all recommendations are completed timely.
• Conduct all internal audits/reviews and risk assessments annually or periodically as required including but not limited to: GLBA, BSA, ACH, identity theft, safe act, Fed Home Loans (loans sold), website, participation loan reviews, indirect dealer program, bankruptcy process, foreclosure process, repossession of vehicles, collections, as examples. 
• Annually prepare HMDA Data and file as needed
• Prepare and file annual Schedule Q - in accordance with the Division of Banks’ (Division) regulation 209 CMR 31.00, owners/operators of electronic branches located within the Commonwealth of Massachusetts
• Prepare annual vendor risk assessment and report to findings to President/CEO
• Conduct SOC reviews of all critical internal vendors
• Conduct all new vendor and product risk assessments and report results to President/CEO.
• Train all new and existing staff on credit union policies as needed
• Conduct annual BSA training for Board and staff as needed
• Conduct BSA tailored training for applicable staff
• Ensure BSA validation audit of the AML monitoring system is completed on a periodic basis.
• Train all new lending hires on loan origination process as needed (policy, underwriting and input into the XP system)
• Ensure all forms, brochures, posters, lobby signage, marketing materials meet regulatory requirements
• Annually review the credit unions fee schedule and update/recommend changes to President/CEO. Ensure membership is notified of changes in a timely manner as required.
• Review financial data and other information related to business operations.
• Gathers and compiles data related to risk from internal and external resources.
• Identifies potential risks by analyzing data, observing processes, and talking to staff.
• Drafts and delivers reports and presentations outlining findings, identifying and explaining potential risks, and recommending solutions.
• Selects or develops and implements appropriate risk assessment models or methodologies.
• Develops and implements contingency plans to manage business interruptions, volatile market events, and other emergencies.
• Ensures and/or facilitates adequate communication concerning key risks.
• Drafts and/or evaluates risk disclosures and similar documentation.
• Maintains knowledge of existing and developing laws and regulations related to the organizations industry; assesses and explains how new requirements may affect the organization in terms of risk exposure.
• Adherence to Bank Secrecy Act (BSA) responsibilities which are specific to the position and reporting suspicious activities to the BSA Officer.
• Performs other duties as assigned.

QUALIFICATIONS 

• Bachelor’s degree in finance, business administration, or industry-related area preferred.
• Minimum of five (5) years of related experience is required.
• Prior experience working in banking or finance is preferred.

COMPETENCIES

• Positive, professional business relationships within the credit union.
• The ability to work independently and take-on additional projects as assigned.
• The ability to meet deadlines.
• Strong organizational skills.
• Excellent oral and written communication skills.
• A strong commitment to achieving personal growth and success.

WORK ENVIRONMENT
This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.

PHYSICAL DEMANDS
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.  While performing the duties of this job, the employee is regularly required to type, file or lift office supplies up to 20 pounds.  The employee is frequently required to sit, stand for an extended period, walk, bend, talk, hear, use hands to finger, handle or feel; and reach with hands and arms.

OTHER DUTIES
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice

EEO statement

New Bedford Credit Union is an Equal Opportunity Employer that does not discriminate on the basis of actual or perceived race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth, pregnancy-related conditions, and lactation), gender identity or expression (including transgender status), sexual orientation, marital status, military service and veteran status, physical or mental disability, genetic information, or any other characteristic protected by applicable federal, state, or local laws and ordinances.

New Bedford Credit Union is committed to complying with applicable federal, state, and local laws governing reasonable accommodations of individuals, including, but not limited to, the Americans with Disabilities Act (ADA) and the Pregnant Workers Fairness Act (PWFA). To that end, New Bedford Credit Union will endeavor to make a reasonable accommodation to applicants and employees who have requested an accommodation, unless doing so would an undue hardship to New Bedford Credit Union’s business operations.

Salary : $55,000 - $75,000