What are the responsibilities and job description for the Compliance Specialist position at Sunmark Credit Union?
Our Risk Management department is Growing!
We are looking for candidates with prior legal research/regulatory compliance experience.
This position works onsite at our Latham, NY office. Once trained, is eligible to work hybrid/remote up to 2 days per week.
Job Summary:
1. Maintains a current, formal, and adequate Compliance Program that meets Sunmark Credit Union corporate goals and objectives and complies with applicable laws and regulations. Researches, analyzes, and recommends improvements to the Administrative Policy Manual, the products and services offered by Sunmark CU and to general operations relating to compliance matters. Reviews and revises Sunmark Credit Union forms, disclosures, and marketing materials. Answer compliance questions from staff including through The HUB.
2. Review and conduct analysis of regulatory and legal changes affecting financial services industry to determine applicability and impact to Sunmark
3. Review and conduct analysis of regulatory and legal changes affecting financial services industry to determine applicability and impact to Sunmark
4. Research regulatory/legal questions for other departments as assigned.
5. Maintain core functions of compliance program, including: Vendor Management, Record Retention, DR/BCP, Complaints, Abusive Members.
6. Review advertisement, forms, letters for other departments as assigned to ensure compliance with legal requirements.
7. Prepare revisions to Credit Union disclosures as needed.
8. Assist with testing areas identified by compliance review schedule under the direction of ERM & Compliance Administrator.
9. Assists with preparing accurate annual IRS reporting (e.g. 1099-INT, 1099-MISC, 1098, 1099-C and 1042 filing). Reviews various system reports to ensure compliance with internal procedures and system requirements regarding account opening.
10. Facilitates Sunmark’s compliance with third party due diligence requirements.
11. Trains staff and provides on-going communication regarding compliance matters. Creates and updates Web-enabled training documents as needed for staff use on the Intranet, or otherwise.
12. Creates and distributes appropriate correspondence, memos, and reports to appropriate staff members. Types correspondence, reports, memos, and confidential information; composes, proofreads, and obtains appropriate signatures for related correspondence.
13. Assists the Internal Audit Department regarding compliance matters, upon request. Provides back-up to the Security & Fraud Specialist and Quality Control Mortgage Processor positions.
14. Performs other duties as assigned.
Knowledge and Skill Requirements:
1. Degree preferred plus a minimum of three years of compliance experience, preferably in the Financial Services Industry;
2. A Compliance Certification is strongly desired
4. Understanding of applicable laws and regulations pertaining to financial services (products, payment systems, operational functions and processes and delivery channels)
5. Understanding of credit unions and the examination process by the National Credit Union Administration (NCUA) and NYS Department of Financial Services (DFS).
6. Strong analytical/problem solving, communication, organizational and interpersonal skills.
7. Insight and judgment to initiate timely and appropriate action.
8. Ability to effectively research and report on complex legal issues.
9. Aptitude with figures and the ability to work well under pressure;
10. Computer proficiency, including proficient with Microsoft Office, Word and Excel;
11. Aptitude for working at a highly confidential, organized and responsible level; and
12. Ability to communicate clearly both orally and in writing; ability to communicate effectively and professionally with others, including exhibiting a courteous, conscientious, and generally businesslike manner in the workplace.
Sunmark Credit Union is an equal opportunity employer and considers all applicants for employment without regard to race, color, creed, religion, sex (including pregnancy, childbirth or related medical conditions), sexual orientation, gender identity or expression, age, national origin, marital status, citizenship, physical and mental disability, criminal record, genetic information, predisposition or carrier status, status with respect to receiving public assistance, domestic violence victim status, a disabled, special, recently separated, active duty wartime, campaign badge, Armed Forces service medal veteran, or any other characteristics protected under applicable law.
