Compliance Associate

Summary:  In Office Position 

Serves as Internal Auditor, Compliance Officer, Fraud Officer,  Bank Secrecy Act Officer and Business Continuity Plan Coordinator. Contributes to the management of the Credit Union by ensuring that the Credit Union’s operations adhere to all regulatory compliance requirements. Is responsible for reviewing and monitoring the credit union’s transactions, practices and for maintaining the highest standard of compliance.  Responds to questions concerning all aspects of responsibility from various sources such as all levels of management and staff.

Essential Duties and Responsibilities include the following:

Establishes and maintains audit program, including methods and procedures.  

• The program includes auditing the following areas:

 Year-end Issues and Government Reporting

 Cash and Negotiable Instruments

 Bond and Insurance Coverage and Claims

 Member Accounts

 Plastic Card Processing and Controls

 Lending

 Compliance Reviews

 BSA Risk Assessment

 Presents reports to Supervisory Committee

• The audit process reviews and appraises:

 The existence, adequacy, and application of financial operating and administrative controls

 The extent of compliance with established policies, plans, procedures, and regulations

 The extent to which assets are accounted for and safeguarded from losses of all kinds

 The reliability and integrity of financial and management data developed by the credit union

• Makes recommendations to management for corrective action based on audit findings and monitors results.  Reports to the Supervisory Committee on corrective actions implemented by management and any actions not taken

• Ensures that changes in policy and procedures are clearly communicated to impacted management, departments, or the credit union as a whole. Follows up to ensure new procedures are understood and implemented.

• Maintain documentation of compliance activities, such as member complaints or investigation outcomes. Research and respond to all complaints or investigations timely.

• Perform Annual Reviews of all critical vendors. 

 Work with third party and internal staff to collect all due diligence documentation. 

 Review all documentation and complete an annual risk assessment. 

 Provide reports to VP/CFO regarding risk rating.

• As Compliance Associate:

 Identify all federal, state and local laws, rules and regulations that affect the credit union and maintains compliance through audits, compliance training program, reviews of marketing materials, and reviews of account disclosures. 

 Participate in credit union policy reviews, assisting management in assessing adequacy and compliance with regulations. 

 Acts as credit union liaison with NCUA examiners and CPA auditors.

• Fraud Officer:

 Oversees compliance with the Identity Theft Red Flag rules

 Investigate individual cases of Identity Theft.

• As Bank Secrecy Act Officer:

o Coordinate compliance with the Bank Secrecy Act

o Maintains expertise in the Verafin application, including assessing current and emerging high-risk transactional activities via the utilization of Verafin.

 Oversee the suspicious activity review process

 Ensures regulatory reports are queued, filed and completed in a timely manner.

Qualifications

Qualifications  

• Bachelor’s degree 

• Credit Union Regulatory Compliance Certification preferred but not required

• 5 - 7 years related experience and/or training

• Ability to recognize and solve problems. 

• Strategic thinking - Develops strategies to achieve organizational compliance.

• Ability to analyze, and interpret governmental regulations, financial reports, legal documents, technical procedures, business periodicals, professional journals. 

• Ability to effectively present information and respond to questions from managers, employees, board members and auditors.

• Presentation skills

• Ability to calculate figures and amounts such as discounts, interest and proportions. 
• Strong knowledge of computers and ability to quickly learn new software     programs and products.

Additional Information

As a First Financial employee, you'll enjoy a challenging work environment.  We offer a great benefits package including Medical, Dental, Rx, Vision, Life Ins., Retirement Plans, Vacation, Sick and Personal.  

All your information will be kept confidential according to EEO guidelines.