Description

Job Summary:  Review 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 regulations. Update and disseminate information regarding laws and regulations.

Essential Functions and Responsibilities:

• Adheres to all OCFCU policies and procedures. 
• 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 web site, 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 implementation of record retention policies and procedures in accordance

with regulations and laws.

• Special projects, research, analysis and other duties as assigned.

Requirements

• Bachelor’s Degree or equivalent experience
• A minimum of 5 years’ experience in compliance
• A significant level of trust, credibility and diplomacy is required; Courtesy, tact, and diplomacy, self-starter who can accomplish tasks with minimal supervision
• Detailed oriented; excellent communication and organizational skills; demonstrated problem solving abilities.  Must be a self-starter and have an entrepreneurial spirit.