Business Compliance Specialist (Finance)

Researches all state and federal regulations and other regulatory guidelines impacting the Business division. Provides interpretation and guidance on any and all new, existing, and updated guidelines and regulations. Partners with the Credit Union's legal, compliance and risk areas to ensure compliance with all applicable lending and privacy laws and provides relevant direction to all areas in the Business Solutions division. Serves as liaison with federal examiners during compliance related examinations; monitors corrective action of any compliance deficiencies identified.

Job Description

Essential Duties and Responsibilities

• Plans and maintains a comprehensive compliance program for the Business Division, to comply with all applicable statutes, regulations, rules and best practices, including, but not limited to; BSA/AML, OFAC, Flood, TILA, Dodd-Frank and Fair Lending regulations.
• Ensures alignment with compliance and strategic direction and makes recommendations of any necessary updates or actions based on internal and external industry developments.
• Responsible implementing the SMB 1071 program for Small Business in the department and ensuring compliance with all other applicable privacy and small business laws and regulations
• Facilitates communication and implementation of regulatory changes and new requirements.
• Monitors the effectiveness of controls, identifies compliance gaps or violations, researches root causes, and recommends and implements corrective actions for when the need is identified.
• Performs regulatory research in response to business unit compliance inquiries. Assist/support the business units on the implementation of new and amended laws and regulations.
• Updates operational procedures that align to regulatory requirements and implements compliance controls that align with new regulations or changes to existing regulations.
• Advises and supports the business lines in the establishment and execution of action plans to address compliance deficiencies, findings, and/or recommendations of examiners, internal audits, and self-identified issues.
• Conducts all platform testing to ensure quality assurance with all applicable laws, regulations, and RFCU products and services.
• Provides support with regulatory compliance examinations, and/or compliance audits or reviews; serves as liaison with federal examiners during compliance related examinations; monitors corrective action of any compliance deficiencies identified.
• Reviews marketing materials, disclosures, and other member communications subject to consumer protection regulations.
• Stays abreast of all industry standards and best practices, as well as all applicable Federal and NCUA laws and regulations regarding RFCU operations; utilizes resources effectively; implements plans, programs and work processes and procedures necessary to achieve designated results; coordinates and integrates functions within the department and across the Credit Union.
• Works with department and training leadership to develop and provide job specific compliance related training.

Company Wide Expectations

• Maintains a professional image and demeanor at all times, consistently demonstrating Credit Union RISE Values and adhering to the Code of Ethics.
• Delivers friendly, caring service to internal and external members.
• Complies with all applicable State, Federal and NCUA rules and regulations and all Credit Union policies and procedures.
• Follow all physical and online security procedures and maintain strict confidentiality of all member information.
• Completes all required regulatory and compliance training and maintains required knowledge of Credit Union products and services.
• Works scheduled hours and maintains punctuality.
• Performs other related duties as assigned or requested.

EDUCATION/EXPERIENCE

Minimum Qualifications

To perform this job satisfactorily, an employee must be able to carry out each essential duty competently. The requirements listed below are representative of the education, experience, skills and abilities required.

An equivalent combination of education and experience may be considered.

Education Requirements

4 Year / Bachelors Degree - Business, Compliance or a related field - Required

Obtain & maintain NAFCU Certified Compliance Officer Certification (NCCO) OR a CUNA compliance certification. Required within one year of accepting the position if not already certified– as testing allows.

Experience Requirement

3 Years - Business industry experience involving compliance related duties – Hands on Knowledge of Dodd Frank, RESPA, TILA, Regulation X and Z, FCRA, and other federal and state regulatory requirements - Required

Strong familiarity with standard industry practices and an ability to interpret state and federal regulations - Required

Skills/Abilities

• Effectively apply internal and external customer service practices and processes to meet quality service standards and achieve member satisfaction.
• Learn and apply information, on a wide range of Credit Union products, services and regulatory compliance requirements, in order to assess member situations and develop solutions.
• Resolve problems utilizing advanced knowledge and experience.
• Provide guidance in the resolution of complex problems utilizing advanced knowledge and experience within areas of responsibility.
• Communicate in a professional manner and deliver information clearly and effectively. Actively listen to questions, opinions and ideas of others. Use tact and diplomacy in sensitive and confidential situations.
• Use correct English including spelling, grammar and punctuation.
• Operate computers and use business software and other standard office equipment.
• Understand and follow written and oral instructions.
• Set priorities and manage one's own time effectively.

PHYSICAL DEMANDS

Physical Demands Disclaimer

The physical demands described here are representative of those that must be met by employees to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Physical Requirements

• Intermittent standing, sitting, walking, bending and climbing.
• Using hands repetitively to handle, feel or operate computers and other standard office equipment.
• Reaching with hands and arms.
• Intermittent lifting and carrying up to 25 pounds.

WORK ENVIRONMENT

Work Environment Disclaimer

An employee in this job will experience the following main work environments, others not listed may also be encountered on occasion;

Work Environment

Works in a general office environment.

Redstone Federal Credit Union is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran status or status as an individual with disability. All qualified applicants will not be discriminated against on the basis of disability.

We are proud to be a Drug-Free and Tobacco Free Workplace.