Director of Compliance and Risk Management

Description

Job Summary:

Provides strategic direction and oversight to the management team on compliance, audit, and risk management issues. Ensures audit and risk assessments are being conducted as dictated by Credit Union policy. Assures that the Credit Union and its business units adequately identify, measure, monitor and control the Credit Union’s operational, compliance, strategic and reputation risks relative to the products, services, and activities for which they are responsible.

Duties/Responsibilities:

· Coordinate with the executive management team, the development and maintenance of the risk, audit and compliance management programs.

· Assessing Risk Management Processes: ensure full audits are performed, including risk management and control management to ensure that compliance is met within all the company’s systems and processes, and oversee the implementation of their findings.

· Develop annual audit calendar and program, manage third party providers to execute components of the audit program (within budgetary guidelines). Act as a liaison with auditors ensuring that requested data is provided as needed.

· Determine frequency and scope of audit based on size, complexity and risk profile of the Credit Union

· Maintaining proficient knowledge of the current AML compliance climate, including BSA, USA Patriot Act, and OFAC regulations

· Assist with the review of BSA compliance as needed.

· Performs oversight and at times review, monitoring, and analysis of various reports, logs, and transaction data to identify trends, unusual activity, and monitor large currency activity; oversees the filing of SAR reports, determines if transactions are suspicious in nature, such as kiting, significant changes in balances, cash structuring in deposits, loans payments, certificate of deposit purchases, wire or ACH transfers, monetary instrument sales, new account openings, etc.

· Acting as liaison between regulators, consultants, auditors, and senior management regarding regulatory, internal audit, external audit, and compliance matters, ensuring that Credit Union requested data is provided as needed.

· Oversight of Fair Lending, UDAAP, and consumer compliance risk assessment and monitoring.

· Oversight of vendor due diligence and ongoing monitoring under the Credit Union’s Third-Party Risk Program.

· Ensures cybersecurity risk is documented and evaluated through collaboration with IT and Information Security.

Requirements

Education and Experience:

· BS or BA degree

· CAMS Certification a plus

· 5 years or more of compliance management experience in a financial institution is required.

· NCCO designation preferred.

· Professional certification in a compliance related field or risk management preferred.