Compliance Officer

BLACK HILLS FEDERAL CREDIT UNION•Rapid City, SD

36d•Onsite

About The Position

The Compliance Officer is primarily responsible for ensuring the company complies with various federal and state compliance areas including, but not limited to, Fair Lending laws, NCUA Regulations, HMDA, Truth-in-Savings Act, Truth-in-Lending Act, RESPA, FCRA, etc. This position will work closely with Business Unit Leadership Teams to provide expertise and recommendations.

Requirements

Strong knowledge of federal and state rules and regulations that apply to financial institutions.
Strong knowledge of risk management as it relates to compliance and the development/maintenance of risk assessments.
Skilled at applying internal compliance standards, procedures, and techniques as well as credit union compliance procedures.
Working knowledge of Credit Union policies/procedures and service philosophy.
Working knowledge of the Credit Union's lending processes and systems.
Vision: A sighted person to read and interpret compliance-related laws and regulations.
Speech/Hearing: Ability to communicate verbally and in writing with directors, staff, members, and appropriate outside parties.
Manual Dexterity: Ability to perform necessary computer-related input.
Physical Mobility: Limited mobility required.
Ability to understand and follow complex written and oral instructions.
Ability to comprehend complex functions and procedures and to be able to disseminate that knowledge in a clear and understandable format to others.
Ability to express oneself, clearly and concisely, both orally and in writing.
Ability to prepare and maintain confidential records and reports.
Ability to gather, assemble, correlate, and analyze facts and develop solutions.
Ability to interpret complex laws and regulations.
Ability to provide friendly, professional, and accurate service and support to all staff, members, and external contacts.
Strong aptitude for analytical work, to include legal and regulatory research, documentation of findings, risk analysis, and policy development.
Ability to maintain a high level of confidentiality.
Ability to research and solve complex problems or issues.
Ability to work with multiple departments daily.
Job requires a four-year college level equivalent of language, math, and reasoning skills.
Minimum of five years’ experience working in a financial institution or in a compliance or auditing role in another industry.
Must be capable of regular, reliable and timely attendance.

Nice To Haves

Regulatory compliance certifications or willingness to obtain preferred.
Certifications may include Certified Regulatory Compliance Manager (CRCM), Certified Credit Union Compliance Officer (CUCO), or Certified Mortgage Compliance Professional (CMCP).
A bachelor’s degree is preferred.
Formal training should be supplemented with continuing education.

Responsibilities

Provide thoughtful and risk-based regulatory expertise in response to business initiatives, line of business guidance requests, internal and external audits, and regulatory examinations.
Develop and implement compliance policies and procedures.
Ensure compliance with existing processes and procedures and recommend new ones that most effectively anticipate, manage, and reduce risk to the business.
Develop and communicate recommendations that support adherence to regulations, industry best practices and/or the compliance program.
Assist in developing compliance training programs for staff.
Complete and review risk assessments to identify areas of compliance risk exposure, prioritize compliance risks, and enhance internal controls.
Assess compliance issues presented through new/revised product and service offerings and work closely with lines of business and the Compliance Manager to plan a response.
Review BHFCU forms, disclosures, member publications, advertisements, etc. to ensure compliance with regulations.
Work with business units and the Compliance Manager to design a plan for timely and effective resolution of complex issues identified through monitoring and testing.
Prepare quarterly and annual compliance reports for management and regulatory bodies.
Perform routine monitoring to determine the extent of compliance with regulations, laws, policies, and procedures.
Communicate the results of monitoring to the appropriate department managers and senior management, follows up to ensure issues are addressed, escalates issues as appropriate.
Consult with the Compliance Manager as well as the managers of business units on compliance and regulatory matters.
Maintain a thorough knowledge and understanding of the laws, rules and regulations with which the business must comply and an awareness of issues of recent regulatory focus.
Interact with State and Federal Regulatory Agencies, Executive Management, and support departments such as Internal Audit and Legal on an ongoing and regular basis.
Provide training and guidance to applicable staff on compliance matters.
Serve as a liaison with departments as appropriate in the execution of compliance program components and in complying with regulations.
Perform other duties as may be assigned by the Compliance Manager or the General Counsel.