Compliance Specialist

GPO Federal Credit Union•Town of New Hartford, NY

7d•Onsite

About The Position

The Compliance Specialist is responsible for ensuring the credit union remains compliant with all state and federal laws and regulations through the monitoring of industry activities and review of credit union policies and procedures. This role involves conducting daily reviews of file maintenance reports, evaluating policies and procedures, updating them as needed, and ensuring communication to affected staff. The specialist will also recommend and assist in the development of credit union products, processes, and controls to ensure regulatory compliance and asset safeguarding. Additionally, this position serves as a subject matter expert on compliance-related issues, including marketing materials, and assists with the management of the credit union's vendor due diligence program. The role also includes developing and overseeing record retention policies and procedures and performing other related duties as assigned.

Requirements

Associate’s OR diploma with 5 years of similar experience
Must possess at least one year of in-depth experience handling credit union regulations.
Must possess excellent written and verbal communications skills.
Must be a self-starter and have demonstrated experience.

Nice To Haves

Review daily compliance publications to remain abreast of regulatory changes.
Play an active role in local and national compliance communities.
Adapt a work ethic that is aligned with GPO’s mission and keeps our member service at the forefront.
Act as a back up to other members of the department as needed.
To contribute to the overall achievement of the credit union’s strategic goals and objectives.
To effectively communicate compliance information to senior management, department members and all employees and ensure understanding.
Contribute to a positive environment that inspires GPO employees to display pride, passion and a commitment to our mission statement.

Responsibilities

Conduct daily reviews of file maintenance reports related to the credit union’s products.
On an on-going basis, review laws and regulations that impact the credit union’s compliance requirements and provide recommendations for change.
Evaluate the credit union’s policies, procedures and programs to ensure compliance with applicable laws and regulations.
Update policies as needed in reaction to regulation changes and track all policy updates. Ensure that policy updates are communicated to affected staff.
Implement a policy review schedule to ensure policies are reviewed annually and receive board approval.
Recommend and assist in the development of credit union products, processes and controls to ensure regulatory compliance and safeguarding of the credit unions’ assets.
Disseminate information, answer questions, and be a subject matter expert for the credit union on all compliance-related issues, including marketing material for credit union products.
Answer employee questions regarding account opening requirements and allowable member transactions.
Assist with management of the credit union’s vendor due diligence program. Ensure proper due diligence is conducted on all new vendors, that annual vendors reviews are conducted and vendors are evaluated before contract renewals occur.
Develop and update credit union forms to ensure compliance with all state and federal rules and regulations.
Collaborate with the marketing department to align the design with GPO’s brand.
Develop and oversee record retention policies and procedures in accordance with regulations and laws. Coordinate and record the destruction of documents per policy.
Perform other related duties as assigned.