Come be a part of a fun, successful and GROWING credit union! Advantage Credit Union in Newton is seeking a full-time compliance officer. If you enjoy reading about policies and regulations, you have found the right spot! We're seeking someone to join our team who's ready to make an impact to their co-workers, community and members lives by ensuring the credit union is compliant. This is a hybrid position, meaning for the first few months (or longer) you'll be working at the credit union office and then transitioning to a more remote-style position.
Compliance people love to read all the details, so we've included the full description of the job below.
The Compliance Officer will report to the CEO and will have primary responsibility of reviewing credit union policies and procedures to ensure compliance with all related laws and regulations applicable to the credit union. Recommend policy changes to senior management and/or the Board of Directors that will facilitate the credit union’s compliance program, reduce risk, and reflect changes in the regulations. Update and disseminate information regarding laws and regulations.
ESSENTIAL DUTIES AND RESPONSIBILITIES
The following are fundamental duties that an individual who holds the position must perform. This is not an exhaustive list. Other duties, in addition these essential job functions, will be assigned at the discretion of the CEO.
- On an on-going basis, review laws and regulations that impact the credit union’s compliance requirements, with emphasis on Bank Secrecy Act, Patriot Action, and OFAC.
- Evaluate the credit union’s policies, procedures, products, and programs to ensure compliance with applicable laws and regulations. Make recommendations for change where appropriate.
- Disseminate information, answer questions, and be a subject matter expert for the credit union on all compliance-related issues.
- Assess risk potential of current procedures and institute new procedures that minimize loss exposure.
- Ensure that any change in policy or procedure is communicated to impacted departments, or the credit union as a whole, with clarity. Follow up to ensure new procedures are understood and implemented.
- Develop and implement corrective action procedures as necessary to ensure compliance with policies and procedures and to avoid future compliance problems.
- In conjunction with the internal auditor, coordinate a compliance audit and present a summary report to management.
- Assist in the revision and/or design of forms, products, and website, programs, or promotions to ensure compliance with all State and Federal rules and regulations.
- Develop or assist in the development of compliance training programs.
- Assist compliance examiners with their examinations, making available the information that is necessary to complete their examinations.
- Develop and ensure implantation of record retention policies and procedures in accordance with regulations and laws.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
REQUIRED KNOWLEDGE, SKILLS and ABILITIES
- Critical Thinking Ability
- Effective Problem Solving
- Reading Comprehension
- High Ethical Standards
- Ability to Interpret Regulations and Compliance Language
- Risk Assessment Capabilities
- Proficient Communication Skills
- Utilize Creativity to Maximize Credit Union Growth
- Strong Organization Skills
EDUCATION and/or EXPERIENCE
- Bachelor’s degree or 3+ years of experience in a credit union or financial institution with prior compliance experience.
- This is a hybrid position (remote and office – need to be available to come into the Newton, IA corporate office as needed).
- Excellent interpersonal skills and able to communicate to a wide audience.
- Knowledge of state and federal credit union laws and regulations.
- Strong writing skills and experience with a financial institution’s policies and operations.
- Strong communication and presentation skills, with the ability to interface at all levels of an organization.
- Knowledge of financial institution operations a plus.
- Self-starter who can work independently, be a team player, and collaborate as needed.
PHYSICAL DEMANDS & ENVIRONMENTAL FACTORS
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Frequent sitting and lifting up to 10 lbs. Moderate walking, standing, carrying, stooping, bending, kneeling, and reaching. Fingering: picking, pinching, or otherwise working with the fingers. Grasping: Applying pressure to an object with the fingers and palm. Repetitive motion: substantial movements (motions) of the wrists, hands, and/or fingers.
Advantage Credit Union is an Equal Opportunity Employer. In compliance with the Americans with Disabilities Act and/or applicable state regulations, Advantage Credit Union will provide reasonable accommodations to qualified individuals with disabilities and encourages prospective employees and incumbents to discuss potential accommodations with Advantage Credit Union.
If you've read this far and are still interested, you may be our next Compliance Officer. We'd love to have you on our team and encourage you to apply. In your cover sheet, tell us what's your favorite regulation.
Job Type: Full-time
Pay: $25.00 - $30.00 per hour