POSITION SUMMARY

The Compliance Specialist serves the Compliance team by assisting the Compliance Officer, the VP of Risk Management, and other Spans of Care (SOC) with the research, implementation, and reporting on laws and regulations for the Credit Union. In addition to the development and maintenance of risk management functions that result in reduced risk to the Credit Union.

POSITION RESPONSIBILITIES

General Responsibilities

• Execute requirements of the compliance management system.
• Maintain knowledge of laws and regulations affecting the credit union.
• Monitors and communicates regulatory changes affecting SOCs, products, and services.
• Prepare communications for review by the Compliance Officer of regulatory change management issues.
• Work with LOBs on the implementation of regulatory changes.
• Provide communications to Compliance Officer and VP of Risk Management on the status of regulatory change implementation by SOCs.
• Assist in validation of regulatory changes by SOCs under the supervision of the Compliance Officer.
• Performs periodic compliance reviews to ensure compliance with laws and regulations.
• Maintains member compliant monitoring system to ensure complaints are being addressed by appropriate levels of management.
• Assist with the development and implementation of internal controls designed to minimize loss exposure for the credit union and ensure fraud prevention of its members.
• Assist the Compliance Officer in the development and review of training materials.
• Assist the Compliance Officer in the development and review of policies and procedures.
• Assist the Compliance Officer and VP of Risk Management in the tracking and updating of policies for Board review.
• Additional duties as assigned.

EDUCATION AND EXPERIENCE

• A minimum of two (2) years’ financial institution experience required.
• Compliance experience is a plus.
• Associates degree or higher in a related field required.
• Professional certification preferred.
• Equivalent combination of education and experience will be considered.

KEY COMPETENCIES

• Thorough understanding of financial and operational functions.
• Knowledgeable of state and federal laws and regulations related to the financial industry and fraud.
• Use effective judgment to make sound decisions while minimizing the Credit Union’s exposure to risk.
• Understanding of credit functions and procedures.
• Ability to read, analyze, research, and interpret applicable industry-related journals and other sources of information.
• High degree of accuracy and attention to detail.
• Ability to effectively respond to common inquiries from members, team members, or regulatory agencies.
• Excellent oral and written communication skills to aid in facilitating compliance discussions with applicable parties and writing reports, business correspondence, and procedure manuals.
• Ability to solve practical problems and think critically.
• Demonstrated ability to achieve goals.
• Ability to work well with others at all levels of the organization.
• Demonstrated ability to work independently, work collaboratively, handle multiple priorities, exercise good judgment, and employ initiative.
• Proficient in the use of personal computers and associated software (e.g., word processing, spreadsheets, etc.).
• Ability to define problems, collect data, establish facts, and draw valid conclusions.
• Ability to read and interpret a variety of instructions furnished in written, oral, diagram, or schedule form such as operating instructions and procedure manuals.
• Ability to operate standard office equipment and tools, such as a personal computer terminal, keyboard and mouse with visual monitor, calculator, computer printer, fax machine, telephone, photocopier, scanner, and security system.

PHYSICAL DEMANDS AND WORK ENVIRONMENT

• Work Environment: Business office, the noise level in the work environment is usually quiet to moderate.
• Physical Requirements: Ability to sit or stand at a desk the majority of the day; talk or hear; stand or walk occasionally. While performing the duties of this job, the team member is typically utilizing a computer, keyboard, and phone. May occasionally reach with hands and arms; stoop, kneel, and crouch.

The above information has been designed to indicate the general nature and level of work performed by persons within this job this job classification. It is not designed to contain or be interpreted as a comprehensive inventory of all the duties, responsibilities, and qualifications required of persons assigned to this job. Additional duties may be required to perform the job effectively.