The Compliance Officer is responsible for administrating and managing the overall compliance program. This includes ensuring the credit union maintains adequate credit, market and operational risk and confirming the credit union is in full compliance with the rules and regulations and internal policies and procedures.
• Develops and implements a risk management program for administrative, lending, operational, and compliance functions of the credit union.
• Monitors and analyzes developing trends and changes in regulatory compliance laws, rules and regulations, and advises management on the operational impact.
• Reviews, revises, and develops credit union forms, contracts, agreements and disclosures to ensure compliance with applicable laws, rules and regulations.
• Develop and administer the Risk Management and Loss Prevention Programs designed to minimize losses to the Credit Unions operations.
• Interfaces with legal counsel to ensure that the terms and condition set forth in forms, contracts, agreements and disclosures are accurate, complete, and meet the needs of and properly protect the credit union.
• Maintains and updates risk assessments of all necessary functions of the credit union as it relates to BSA/CIP/OFAC.
• Serves as a primary contact for the credit union in fraud and forgery cases.
• Develops and maintains a Compliance Training Program, which effectively addresses the requirements of applicable laws and regulations, the credit union’s related policies and procedures, and employee responsibilities.
• Reviews, monitors, and submits suspicious activity reports (SARs).
• Prepares regulatory-related documentation and policy statements requiring adoption by the board or periodic board review and approval.
• Serves as an advisor to Senior Management in the areas of compliance and makes recommendations to reduce risk exposure in areas of asset, liability, credit, operational, and compliance.
• Other duties as assigned by Supervisor.