Compliance Specialist
Are you looking for an opportunity to let your skills shine? Come join the team at the credit union! We aren't so small that growth opportunities are scarce and we aren't so big that you'll get lost in the shuffle. We are able to offer similar products and services as our larger competitors, but on a more personalized scale, both with our members and our employees. This approach provides our employees the opportunity to get involved in the organization in a way they may not be able to, in the corporate world. Here at the credit union, we value the contributions of our employees and actively look for ways to be collaborative, within all levels of the organization. Here, you will have the opportunity to roll up your shirtsleeves, put your unique skills to work, and have a voice in developing your role from the ground up.
As a Compliance Specialist you will:
- Work as a key part of a team to create a proactive environment through monitoring trends related to laws and regulations and making recommendations for policy updates. Conduct research as assigned and provide information regarding regulations, regulatory changes and potential procedural impact.
- Support a credit union wide compliance culture by being responsive to new regulations as well as changes to existing regulations, providing recommendations for change and support in implementing change.
- Assist in the analysis of the credit union’s regulatory compliance posture and the development of control recommendations.
- Assist with development, implementation, and administration of a compliance program that effectively addresses the credit union’s compliance with laws, regulations and rules governing operations and product offerings.
- Assist with various quality control reviews to ensure that compliance is applied in practice as well as on paper. This includes reviewing, evaluating and verifying the soundness, adequacy and application of controls and procedures.
- Prepare reports documenting compliance issues and provide recommendations to ensure management is appropriately informed of any significant concerns. Meets with department heads and supervisors, as necessary, to provide information on compliance deficiencies and guidance in implementing recommended changes.
- Assist during examinations or audits including following up on and assisting in resolving cited violations and/or deficiencies.
- Monitor legislative and regulatory developments and reports important compliance changes to management.
- Serve as a central resource for credit union staff to provide assistance regarding compliance issues.
- Assist with management of the credit union’s vendor management program including the vendor risk assessment process.
- Respond to and maintain all correspondence related to regulatory complaints in coordination with applicable business unit.
To be successful in this role, you will need the following competencies:
Technologically Astute - Demonstrates the ability to use technology to effectively and efficiently perform job functions.
Results Orientation - Is keenly aware of personal, team, departmental and company wide goals and is able to prioritize work to achieve funding goals. Demonstrates the ability to excel in a high stress environment and is able to meet goals and deadlines.
Service - Demonstrates an unsurpassed commitment to exceptional member service. Explains recommendations, products and services in ways employees can easily understand. Demonstrates patience, respect and empathy when dealing with employees or their complaints. Personifies CSCU's role as a Trusted Advisor.
Initiative - Motivated self-starter who measure self against standards of excellence. Actively and consistently seeks qualified opportunities to increase loan volume and residual product penetration.
Accountability - Demonstrates responsibility for providing timely and accurate information, responses and decisions to internal and external members. Willingly accepts and embraces constructive coaching and feedback as needed.
Effective Communicator - Persuasive and confident. Explains recommendations, products and services in ways employees and members can easily understand.
Teamwork - Builds rapport with fellow teammates and credit union staff.
Skills/ Requirements
- Requires education equivalent to a four-year high school education or general education degree (GED). Some post-secondary education preferred.
- Minimum of 2 – 5 years of direct work experience in compliance or equivalent with related experience in other areas of banking, preferably in the financial services industry.
- Professional, well-developed interpersonal skills necessary for communicating with internal staff as well as external auditors, management, the Supervisory Committee.
- Familiarity with internal control issues and risk identification and be ability to provide recommendations for improvement preferred.
- Working knowledge of credit union products and services, policies, Bank Secrecy Act, USA Patriot Act, and other laws and regulations that apply to credit unions required.
- Strong communication skills, written and verbal.
- Ability to manage multiple deadlines while remaining timely with obligations. Must be able to multi task, adapt well to changing priorities and effectively prioritize workflow to meet critical deadlines.
- Requires knowledge of single PC applications (Word, Excel, MS Outlook) and various bank systems including financial analysis platforms and FinCEN. Knowledge of Verafin, Fiserv DNA and FIS is preferred.
Company Overview
Join a winning team and a dedicated Credit Union! We have been offering quality financial service to members and their families since 1951. As a credit union, we are a not-for-profit financial cooperative, which means we operate to serve our member-owners. This makes us quite different from other financial institutions. Since 1951, we have focused on building lifetime relationships by continually expanding our products and services while emphasizing financial security, quality, and convenience in an environment that values and respects members, employees, and business partners.