Compliance / Risk Officer
Midcoast Federal Credit Union is seeking a motivated and experienced individual for the Compliance / Risk Officer. This position is located in the Freeport office and reports directly to the Executive Vice President. The Compliance / Risk Officer is responsible for developing, implementing and administering all aspects of the credit union’s compliance management program. This position is critical to the organization as it ensures the Credit Union is in compliance with all applicable rules and regulations through the utilization of the most effective and efficient policies, procedures, and practices. This position ensures key controls are in place to mitigate risk, assess and improve cross-departmental risk management processes, as well as oversight of a comprehensive vendor management program. Qualified candidates interested in being considered for this position should submit a cover letter and resume to Neeley Stanton, VP HR/Training at email@example.com .
- Monitor regulatory compliance matters, keeping current on changes in laws and regulations impacting the compliance area, and communicating those changes to management and staff.
- Serve as the BSA Officer.
- Leverage compliance expertise to develop and update internal policies, procedures and controls; monitor and evaluate their effectiveness and efficiency.
- Design programs to ensure compliance with all applicable federal and state laws, regulations and rules governing topics such as BSA, Privacy and various deposit and lending regulations. Revise as necessary to ensure ongoing compliance.
- Ensure compliance with all anti-money laundering regulations, including but not limited to the US Patriot Act, BSA and OFAC.
- Compile and issue reports detailing conclusions of compliance analyses, report violations as appropriate, provide recommendations for improvement, and follow up to ensure timely completion.
- Assist in developing an effective compliance training program, including introductory training for new employees as well as ongoing training for all employees and managers.
- As new products and services are developed, perform necessary reviews to ensure compliance requirements are met.
- Attend seminars, webinars and training sessions as needed.
- Perform other related duties as assigned.
- Knowledge of financial institution regulations, practices, policies, procedures, operations, products and services
- Excellent ability to research, analyze, communicate verbally and in writing, and make recommendations regarding complex laws and regulations
- Strong working knowledge of but not limited to BSA, OFAC and Patriot Act
- Strong policy/procedure writing skills
- Capable of sound judgement, self-direction and handling multiple priorities
- Ability to maintain a strict level of confidentiality and security in sensitive areas
- Ability to organize projects, to prioritize workflow, and complete multiple tasks simultaneously and accurately
- Working knowledge of applicable financial institution software
Education & Experience:
- Compliance licensure and certification highly desired
- Bachelor’s degree required, preferably in business, finance or accounting
- 5-10 years of current bank/credit union operations and compliance experience
Posted on 2/9/2018