Compliance Analyst

Suffolk Credit Union•Medford, NY

10h

About The Position

As a leader in the industry, Suffolk Credit Union is about more than just banking. We are about empowering people . As the Compliance Analyst you will be responsible for Monitoring federal and state regulations and compliance trends, including but not limited to the Bank Secrecy Act (BSA), mortgage lending regulations (SAFE Act), record retention, determine how changes and trends may affect the credit union and facilitates the implementation of actions to reduce risk and remain compliant.

Requirements

Knowledge of federal and state regulatory environments affecting credit unions, such as Bank Secrecy Act, Secure and Fair Enforcement (SAFE) in Mortgage Licensing Act, NCUA marketing standards, etc.
Knowledge of risk analysis techniques and theories, with a proficient understanding of regulatory environments affecting the financial industry
Knowledge of financial industry operations
Knowledge of credit union products, services, policies, regulations and procedures
Demonstrated skill in preparing audits work papers
Demonstrated computer and software skills
Advanced skill with using and analyzing data with spreadsheet software
Intermediate mathematical and accounting skills
Ability to handle multiple and complex deadlines
Ability to express oneself clearly and articulately both orally and in writing
Skill in gathering, analyzing and compiling complex financial and statistical data
Skill with independent problem-solving
Ability to exercise tact and responsibility with handling confidential information
Ability to work with general supervision of daily activities
Associate's degree; Bachelor's degree preferred
Three to five years of compliance, auditing or risk management experience in a financial institution required.
Compliance Officer Certification or similar (CUCE, CRCM, BSACS etc.) required (or obtained within two years of hire)

Responsibilities

Monitors federal and state regulations and compliance trends, including but not limited to the Bank Secrecy Act (BSA), mortgage lending regulations (SAFE Act), records retention, determines how changes and trends may affect the credit union and facilitates the implementation of actions to reduce risk and remain compliant.
Researches and implements regulatory changes affecting compliance and risk
Updates regulation manuals for the credit union, including but not inclusive to: BSA, safety, business resumption, records retention, SAFE Act, red flag and identity theft, and vendor due diligence aligning with regulations, laws, best practice and organizational strategies
Develops and administers risk assessments, compiling data, identifying risk, mitigating factors and contingencies reporting results to the VP – Risk Management.
Oversee S.A.F.E Act-NMLS registration process for new hires, changes, terminations, and performs annual reviews.
Liaise with legal counsel and credit union business units on legal issues.
Administers the member complaint management program ensuring all issues are addressed in a timely manner and compliant with applicable law.
Serves as a subject matter expert for all compliance areas and responds to inquiries from internal and external sources.
Completes and/or coordinates special projects assigned by management staff
Ensure all lines of business are aware and understand proposed, updated and new regulation, laws, guidance and letters applicable to their areas of responsibility.
Reviews all channels of marketing and website advertising material for compliance with all applicable laws, regulations, and best practices.
Administer the vendor management program, ensuring all required due diligence items are completed by each vendor owner and information within the vendor management system is accurate and up to date.
Assist in enterprise risk management activities.
Backs up other departmental staff as necessary
Accomplishes the credit union's mission by completing relevant duties as needed when requested by management or other staff members