The Compliance Manager performs a key consumer regulatory risk management role (second line of defense to the business unit’s first line of defense) while supporting the company Mission, Vision, Values and Strategy. This position will provide support for the development and ongoing management of the Compliance Management System and related programs, with a focus on Deposit, Lending or Enterprise regulatory risks.
• Assist with the development, implementation and maintenance of a comprehensive regulatory compliance management program for key areas of the credit union. Review policies, procedures and training to ensure alignment with applicable regulations.
• Partner with assigned business units to provide guidance for mitigating any regulatory impacts identified with respect to new products and services. Work with business managers to provide support for development of documented business controls, designed to mitigate key compliance risks. Collaborate with business units to facilitate analysis of complaints or process breakdowns to determine root cause, trends, member impacts and planned remediation activities.
• Conduct research to identify changes to or new regulations, and prepare written plain language summaries for review by Compliance Director and eventual distribution to impacted business areas
• Conduct assigned periodic regulatory risk assessments. Provide input to 2nd line test plans and periodically sample transactions for compliance with applicable laws, as assigned. Conduct targeted testing of key business controls for effectiveness, and provides guidance on any identified risks
• Identify and analyze potential risks from all available sources including complaints, vendor issues, system weakness, testing results, and audit results to obtain a holistic view of regulatory risks
• Provide leadership, coaching, training, problem resolution and day-to-day functional guidance.