Business Unit Compliance Specialist II, Consumer Loans

SchoolsFirst Federal Credit Union•Tustin, CA

About The Position

Supports a specific Consumer Lending business unit in maintaining compliance with Credit Union operational requirements, laws, and regulations as part of the Credit Union's First Line of Defense Compliance Management Program. Develops test scripts to ensure adherence to regulatory requirements through ongoing quality control monitoring and testing. Works with business units to implement recommendations from the Compliance team by reviewing forms, disclosures, communications, advertisements, risk assessments, and standard operating procedures. Reviews summaries and recommendations of regulatory and legal information sent by the Compliance department. Evaluates the potential impact on the Credit Union consumer lending products (i.e., vehicle, personal, credit card, etc.), policies, or processes, and provides recommendations to Credit Union management. This position is not responsible for BSA compliance. Assists with the maintenance and continued improvement of the Credit Union's First Line of Defense Compliance Management Program. Monitors and interprets regulatory changes impacting the consumer lending business unit, evaluates their impact, and provides recommendations to ensure compliance. Assists with implementation through training, procedural updates, and form revisions. Identifies compliance risks, recommends solutions, and supports corrective actions to maintain business unit adherence to policies, procedures, and regulatory requirements. Supports the implementation of required changes for consumer loan agreements, disclosures, marketing materials, advertisements and communications to ensure compliance. Conducts legal and regulatory research related to the business unit to support management and respond to inquiries received from Credit Union Management, team members, and government agencies. Acts as a resource for questions regarding regulatory issues within the business unit. Assists with managing the compliance monitoring and testing calendar, ensuring timely reviews and reporting findings to management. Supports regulatory examinations and audits by coordinating documentation and responses. Contributes to the development and enhancement of business unit Standard Operating Procedures (SOPs) to align with compliance requirements. Recommends and reviews First Line of Defense training programs to enhance team member awareness and understanding of compliance policies. Assesses risk potential of current business unit procedures and recommends process improvements to minimize compliance risks and loss exposure.

Requirements

High School Diploma or GED required
Bachelor's Degree in a related field or equivalent years of experience required
3-5 years of prior relevant experience required
Knowledge of federal and state consumer protection and regulatory compliance requirements.
Knowledge with Microsoft Office, including Word, Excel, and Power Point
Analytical skills
Communication skills, including intermediate-level writing, and ability to present complex materials
Legal research ability using the internet and available resources

Nice To Haves

America’s Credit Unions Certified Credit Union Compliance Officer (CUCO) or NAFCU’s Certified Compliance Officer (NCCO) designation(s) preferred

Responsibilities

Develops test scripts to ensure adherence to regulatory requirements through ongoing quality control monitoring and testing.
Works with business units to implement recommendations from the Compliance team by reviewing forms, disclosures, communications, advertisements, risk assessments, and standard operating procedures.
Reviews summaries and recommendations of regulatory and legal information sent by the Compliance department.
Evaluates the potential impact on the Credit Union consumer lending products (i.e., vehicle, personal, credit card, etc.), policies, or processes, and provides recommendations to the Credit Union management.
Monitors and interprets regulatory changes impacting the consumer lending business unit, evaluates their impact, and provides recommendations to ensure compliance.
Assists with implementation through training, procedural updates, and form revisions.
Identifies compliance risks, recommends solutions, and supports corrective actions to maintain business unit adherence to policies, procedures, and regulatory requirements.
Supports the implementation of required changes for consumer loan agreements, disclosures, marketing materials, advertisements and communications to ensure compliance.
Conducts legal and regulatory research related to the business unit to support management and respond to inquiries received from Credit Union Management, team members, and government agencies.
Acts as a resource for questions regarding regulatory issues within the business unit.
Assists with managing the compliance monitoring and testing calendar, ensuring timely reviews and reporting findings to management.
Supports regulatory examinations and audits by coordinating documentation and responses.
Contributes to the development and enhancement of business unit Standard Operating Procedures (SOPs) to align with compliance requirements.
Recommends and reviews First Line of Defense training programs to enhance team member awareness and understanding of compliance policies.
Assesses risk potential of current business unit procedures and recommends process improvements to minimize compliance risks and loss exposure.
Performs other duties as assigned.
Complies with regulatory compliance and assigned training requirements including but not limited to BSA regulations corresponding to their specific job duties.