Compliance Officer

TelComm Credit Union

Job Description

Title: Compliance Officer

Department: Operations

Reports To: Director of Operations

Overview:

Performs functions essential to ensuring risk and compliance requirements as set forth by the State, HCUA, NCUA, and other regulatory agencies. Responsible for the development and implementation of credit union policies and procedures to ensure compliance with related laws and regulations. Recommends policy changes that will facilitate the Credit Union’s compliance program, reduce risk, and reflect changes in regulations. Updates and disseminates information regarding laws and regulations to management & staff as appropriate. Responsible for the maintenance of Disaster Recovery Plan and security procedures and equipment. Provides Board and executive administrative support.

Roles and Responsibilities (including, but not limited to):

• Functions in capacity as Bank Secrecy Act (BSA) officer
• Ensures adherence to BSA and Office of Foreign Asset Control (OFAC) requirements and provides staff with additional coaching and training as necessary. Informs appropriate executive management of BSA and OFAC issues noted while carrying out these duties. Keeps management apprised of new best practices, laws and regulations related to BSA and OFAC.
• Responsible for identifying and reporting unusual and suspicious activities under the requirements of the BSA/Anti-Money Laundering Act.
• Maintain a high degree of knowledge of appropriate BSA/AML/OFAC and USA PATRIOT Act related laws and regulations
• Ensures regulatory reports are queued, filed and completed in a timely manner.
• Ensure Executive Team are kept fully informed of the conditions and operations of the Credit Union as it relates to compliance matters and important factors influencing those.
• Identifies and reviews laws and regulations that impact the credit union’s compliance requirements such as Bank Secrecy Act, Patriot Act, OFAC, and other regulator or legal changes. Disseminates pertinent information to appropriate department heads with areas to consider evaluating.
• Ensures membership packet (both in person and online) is accurate and carried out within procedure.
• Assesses risk potential of current procedures and recommends new procedures that will mitigate loss exposure.
• Ensures that changes in policy and procedures are clearly communicated to impacted management, departments, or the credit union as a whole. Follows up to ensure new procedures are understood and implemented.
• Develops and facilitates implementation of corrective action procedures as necessary to ensure the Credit Union’s policies and procedures are structured to avoid future compliance problems.
• Maintains TCU compliance library as well as compliance and control reference materials that provide necessary resources.
• Supports Credit Union departments for compliance, and follow-up on corrective actions to avoid future compliance problems.
• Assists in the development and implementation of compliance training programs
• Responsible for daily, monthly, and annual reviews and reporting including:
• Activity on dormant accounts, CTRs, SARs, known member issues, FinCen, loan exceptions and extensions, CDD, NMLS for MLOs, record retention.

• Research issues and questions as they arise and become a trusted advisor to executive team.
• Other duties as assigned.

Minimum qualifications (Education, Experience, Skills):

• Ability to read, analyze, and interpret technical publications regulatory instructions, financial reports, and legal documents.
• Ability to work independently.
• Requires excellent communication skills, good time management skills and the ability to initiate and embrace change.
• Must have strong computer skills and able to utilize applicable software programs.
• High School Diploma
• Ability to maintain a high level of confidentiality.
• Financial institution experience relating to compliance and internal controls required.
• Strong decision-making process that is consistent, thoughtful and informed, with the ability to consider alternate conclusions and actions.
• General mathematical, analytical, and organizational skills, with strong attention to detail with immediate and accurate results.
• Team player with a positive attitude.

Job Type: Full-time

Pay: $50,000.00 - $60,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Employee discount
• Health insurance
• Life insurance
• Paid time off
• Referral program
• Retirement plan
• Tuition reimbursement
• Vision insurance

Physical setting:

• Office

Schedule:

• 8 hour shift

Ability to commute/relocate:

• Springfield, MO 65804: Reliably commute or planning to relocate before starting work (Required)

Experience:

• Financial Institution: 1 year (Preferred)

Work Location: One location