Compliance Officer

True Sky Credit Union Structured Compensation - Job Description Compliance Officer Data Year: 2022 Prepared On: 02/08/2022 Department: Operations Grade: 13 Reports To: CXO Classification: Exempt Supervises Direct: 0 Supervises Indirect: 0 Approved By: President Effective Date: 02/08/2022 FLSA Basis: Executive Revised Date: 02/08/2022 Role: Ensures the Credit Union is in compliance with all state and federal regulations, laws, and rules.
Analyzes new and pending compliance requirements affecting the Credit Union’s practices.
Develops, revises, communicates, and implements policies and procedures to ensure compliance.
Essential Functions & Responsibilities: E 20% Reviews, assesses, develops, revises, and ensures the adequacy of programs, policies, and procedures designed to safeguard Credit Union assets and maintain regulatory compliance.
Ensures policies and procedures are appropriately disseminated.
E 20% Stays informed of new and pending laws and developments related to compliance issues, analyzes requirements, appropriately revises policies and procedures, and ensures communication and implementation of regulatory changes.
E 20% Develops, directs, and implements a compliance program and schedule to review internal Credit Union areas for compliance.
Investigates complaints.
E 10% Supports training department on compliance related issues and policy changes.
Develops a library of compliance resources for employee use.
E 10% Compiles and issues reports detailing conclusions of audits and compliance analysis, reports violations as appropriate, provides recommendations for improvement, and follows up to ensure compliance.
E 10% Maintains records and documentation of compliance activities, complaints, investigations, and outcomes.
Analyzes, prepares, and files appropriate reports with regulatory agencies.
E 5% Prepares and presents reports concerning Credit Union compliance issues to the Board of Directors as requested.
N 5% Performs other job-related duties as assigned.
Performance Measurements: 1.
The Credit Union is in compliance with all state and federal regulations.
2.
Internal compliance reviews are conducted, results analyzed, improvements made, and issues resolved in a timely manner.
Appropriate records are kept.
3.
Required reports are prepared and delivered in an accurate and timely manner.
4.
Knowledge of applicable State and Federal laws and regulations is developed, maintained, and kept current.
5.
Compliance officer monitors resources to ensure any potential or realized regulatory change, state or federal, is documented, consulted with applicable VP, and coordinated for compliance.
6.
Officer will facilitate monthly policy committee meetings for required annual reviews.
7.
Library of compliance resources is developed, maintained, and effectively used by staff.
8.
Management is kept informed of key issues.
9.
Inquiries are responded to and resolved in a timely and professional manner.
10.
To stay current and comply with all federal and state regulations including Bank Secrecy Act (BSA), Office of Foreign Assets Control (OFAC) and all credit union policies and procedures.
Knowledge and Skills: Experience Five years to eight years of similar or related experience.
Education (1) A bachelor's degree, or (2) achievement of formal certifications recognized in the industry as equivalent to a bachelor's degree (e.
g.
information technology certifications in lieu of a degree).
Interpersonal Skills Work involves extensive personal contact with others and is of a personal or sensitive nature.
Motivating, influencing, and/or training others is key at this level.
Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary and often requires the ability to influence and/or sell ideas or services to others.
Other Skills Thorough knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
Talks to others to convey information effectively.
Thorough knowledge of banking practices, policies, procedures, operations, products, services, and regulations.
.
Specific knowledge of the philosophy and structure of the Credit Union industry.
Physical Requirements 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.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is occasionally required to stand; walk; sit; use hands to finger, handle, or feel objects, tools or controls; reach with hands and arms; climb stairs; balance; stoop, kneel, crouch, talk and hear.
The employee must occasionally lift and/or move up to 25 pounds.
Specific vision abilities required by the job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.
Work Environment Work environment characteristics described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is not exposed to weather conditions.
The noise level in the work environment is usually moderate.