Compliance Officer

Independently and objectively reviews and evaluate organizational compliance issues/concerns. Advises management and staff of emerging compliance issues and guides the Credit Union in the establishment of controls to mitigate risks. Review credit union policies and procedures to ensure compliance with laws and regulations applicable to the credit union. Manages Compliance records, BSA, and vendor management functions. Develops policies, procedures, and training to ensure efficient and effective compliance.

Assumes responsibility for the development and implementation of effective Compliance planning.

1. On an ongoing basis, reviews, interprets and implements laws and regulations that impact the credit union's compliance requirements
2. Evaluates the credit union's policies, procedures, products, and programs to ensure compliance with applicable laws and regulations. Makes recommendations for change to minimize loss exposure, where appropriate.
3. Acts as the Bank Secrecy Act (BSA) Officer, responsible for overseeing all aspects of the organizational-wide Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Asset Control (OFAC) and Member Identification (MIP) programs. Includes establishing internal controls to mitigate risks, training, coordinating, and assisting in the administration of independent, state, and federal regulator and auditor examinations and reviews.
4. Prepares annual risk assessments for BSA, Red Flags and other regulations as required.
5. Assist management with the credit union bond coverage.
6. Act as the California Insurance Endorsee administrator for the Credit Union.
7. Assists Senior Management with long and short-term Credit Union planning.
8. Responsible for tracking identity theft when reported and ensures that appropriate BSA reports are filed when required.

Assumes responsibility for ensuring the effective administration of Compliance functions.

1. Creates and implements Compliance policies and procedures.
2. Ensures compliance and all services are delivered in accordance the law and regulations.
3. Develops and monitors budgets. Manages and oversees expenses.
4. Attends and participates in meetings and committees as required.
5. Completes required reports and documents.
6. Ensures that applicable laws and regulations are strictly adhered to.
7. Assists departments in developing quality control standards and processes and ensures that quality control activities are effective and in accordance with established standards.