Vice President of Compliance

Lafayette Federal Credit Union • Rockville, MD

2d • $105,000 - $120,000

About The Position

About us: Our Difference: What makes Lafayette Federal cutting-edge ? Lafayette Federal Credit Union is not only a great place to bank, but also a great place to work! In addition to our Top Workplaces recognition by USA Today, we've also earned numerous accolades including: Newsweek’s America’s Best Banks list A 5-star rating from Bauer Financial Recognition by S&P Global's Top Performing Credit Unions Our Culture: Lafayette Federal is about inclusion, diversity, high performance, and new opportunities. Teamwork and our sense of community also make Lafayette Federal a great place to work. Each person is valued for his or her unique set of skills. We share a common devotion to the people we serve, participating in charity events throughout each year and giving back to the community. Our Opportunities: Professional development, training, and certification is a priority for our employees. We want you to reach your career goals and provide support that leads to opportunities of advancement within the industry. About the role: The Vice President of Compliance is responsible for managing Lafayette Federal Credit Union’s Compliance Management System (CMS) and internal audit program. This role oversees ongoing effectiveness of regulatory compliance programs across all business lines, ensuring adherence to applicable federal and state laws and regulations. The Vice President of Compliance serves as a key advisor to senior management on regulatory risk, examination readiness, and emerging compliance trends, and works closely with the Senior Vice President of Risk Management to align compliance oversight with the Credit Union’s overall compliance management framework.

Requirements

• Knowledge of Regulatory (Consumer and Lending) Compliance rules. Knowledge of AML laws and regulations, to include but not be limited to Bank Secrecy Act (BSA), Office of Foreign Assets Control requirements, USA PATRIOT Act, and Customer Identification Program (CIP) requirements.
• Ability to analyze and interpret government regulations.
• Knowledge in all financial institution products and services to which regulations and legal issues apply.
• Ability to analyze complex data based on audit and compliance trends.
• Ability to utilize spreadsheet and word processing software, PC and all types of general office equipment.
• General knowledge of banking core lines of businesses and their processes.

Responsibilities

• Monitors changes in laws, regulations and examination trends and keeps personnel informed of all relevant matters and advises Senior Management as to how regulatory changes will affect departmental operations, policies and procedures.
• Maintains files of all current operating guidelines, procedures, industry information, and regulatory requirements and disseminates information to the appropriate departments and/or staff as needed.
• Oversee the review and approval of marketing materials, disclosures, and product changes for regulatory compliance.
• Responsible for managing the credit union's Regulatory Compliance programs and for monitoring compliance regulations.
• Develops compliance education programs to ensure that all employees are knowledgeable of the rules applicable to their jobs.
• Assists in an advisory capacity to credit union staff concerning compliance matters.
• Reviews all marketing material for trigger terms and disclosures.
• Oversees the regular review of all concerned areas of the credit union to ensure compliance including but not limited to credit, support and branch operations.
• Makes recommendations to senior management regarding changes, new procedures and techniques to eliminate weaknesses in policies, practices and procedures or operations.
• Oversee all consumer and lending compliance programs, including but not limited to Fair Lending, UDAAP, HMDA, RESPA, TILA, FCRA, Regulation B, Regulation CC, and related consumer protection regulations.
• Acts as Liaison between Internal Auditors and credit union to ensure annual Audit Plan is completed each year.
• Works with departments to remediate reported audit findings and tracks completion.
• Performs audits of branch operations, corporate credit card portfolio and usage, lending compliance, user access, and other credit union functions that require regular monitoring.
• Oversees tracking, reporting and timely remediation of examination findings, audit issues and compliance exceptions.
• Responsible for understanding and complying in an accurate and timely basis with all Bank Secrecy Act/Anti-Money Laundering/OFAC requirements that pertain to your position at LFCU and as directed by management and/or the SVP of Risk Management.
• Promotes a strong culture of compliance throughout the organization by providing guidance, consultation, and leadership to all levels of staff.
• Performs other duties as assigned by the SVP of Risk Management.

Benefits

• Employer paid (99.9%) health insurance premium for single and family coverage (HMO Plan)
• Fully funded deductible (HMO Plan)
• 401k employer matching contribution
• Income protection with life insurance, short and long-term disability
• Paid time off, holiday leave & birthday leave
• Educational assistance
• Commuter benefits program and more !

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Education Level: No Education Listed
• Number of Employees: 1-10 employees