What are the responsibilities and job description for the AVP, Risk & Compliance position at Partners Federal Credit Union?

Job Summary :

The AVP, Risk & Compliance position is responsible to enhance, administer, and ensure adherence to credit union ERM and Compliance Programs applicable to all banking, deposit, and lending regulatory requirements. This includes conducting, oversight, and coordination of various risk assessments, key risk indicators, risk categories, corrective action monitoring plans, compliance monitoring reviews, policy and procedure guidance, and regulatory compliance research. This role is also responsible for the Credit Union’s overall compliance with the Bank Secrecy Act and for the execution of the quality control and quality assurance programs in compliance with GSE guidelines.

The AVP, Risk & Compliance position is responsible for operational support duties and assists the Head of Enterprise Risk Management & General Counsel with various audits, exams, compliance projects & program functions as needed to complete the components of each program life cycle. The AVP, Risk & Compliance is responsible for supporting compliance initiatives, all aspects of the Compliance Management System (CMS), including the Compliance Program and BSA / AML Program, and ensuring the credit union is following all applicable laws, regulations, and GSE guidelines.

This role participates on the management team at the middle level contributing ideas and concerns. Analyzes, justifies, and recommends changes to enhance productivity and value added. Prepares reports for the Head of Enterprise Risk Management & General Counsel. Provides support for facilitation of regulation examination and assists with internal / external audit and examiner requests related to ERM, compliance, BSA, and quality assurance.

Essential Responsibilities :

Directs ERM and Compliance program activities and manages the day-to-day operations of the various risk management teams.
Researches, interprets, and communicates regulatory compliance requirements and potential impact to affected business units in coordination with Head of Enterprise Risk Management & General Counsel.
Monitors proposed, newly implemented, and changes to existing laws and regulations. Assists Head of Enterprise Risk Management and General Counsel in disseminating regulatory compliance information.
Supports legal administrative activities for legal functions regarding legal demands and lawsuits, legal opinions, power of attorney and subpoena validity, in coordination with Head of Enterprise Risk Management and General Counsel.
Leads the Credit Union’s overall research and compliance with the Bank Secrecy Act, Office of Foreign Asset Control, and CIP / CDD / EDD Programs.
Identifies and contributes to department policy and procedures to ensure controls are in place, stays abreast of changes to federal and state BSA banking laws and regulations affecting the management, operations, and product offerings of the credit union.
Responsible for leading quality control and quality assurance review processes for real estate loans, equity loans, consumer loans, deposit products and file maintenance.
Assists Head of Enterprise Risk Management and General Counsel with review of forms, notices, brochures, web pages, advertisements and disclosures for compliance with laws and regulations.
Reports on any suspected violations of law, regulations or non-compliance to Credit Union policy and takes responsibility to ensure resolution.
Analyzes changes in regulatory and secondary market requirements in relation to their impact on loan processing, underwriting and documentation.

Additional Responsibilities :

Provides leadership to, supervises, and directs staff.

Supports the development and regular review / monitoring / reporting of the measurement components of the ERM Framework, . risk appetite, risk tolerance levels, and key risk indicators (KRIs).

Prepares monthly SAR BOD reports and BSA Risk Assessment.

Understands mortgage regulatory laws and GSE Guidelines (Underwriting, Seller’s Guide, QA Programs).

Analyzes changes in regulatory and secondary market requirements in relation to their impact on loan processing, underwriting, and documentation.

Conducts risk assessments, identifying, evaluating, and managing risks to minimize operational and compliance risks in support of the Enterprise Risk Management program.

KNOWLEDGE AND SKILLS

Minimum Education Required to Perform Job : Bachelor’s Degree

Degree Focus Required : Financial Services, Risk Management or Legal

Minimum Years of Relevant Work Experience Required to Perform Job Upon Hire : 8 to 10 years

Specific Experience Required :

Experience in Risk Management, regulatory banking compliance, legal or other control-related functions or other related methodologies in financial institutions or regulatory organization.

Advanced working knowledge of banking regulations, financial services, compliance, and operations including the related rules and regulations of the financial services industry.

Certifications or Licenses Preferred :

Credit Union Compliance Expert (CUCE)

Bank Secrecy Act Compliance Specialist (BSACS) designation or its equivalent

Other Training, Technical Skills, or Knowledge Required :

Microsoft Word and Excel proficiency

Other Measurable Abilities Required :

Excellent critical thinking, analytical, and problem-solving skills are a must, as well as strong written and verbal communication and interpersonal skills with the ability to articulate complex problems and solutions through concise and clear messaging.

Advanced understanding of risk management frameworks and best practices, and internal control principles and concepts, such as identifying risk in key processes, compliance with regulatory requirements, monitoring, testing, issue management, risk appetite, related metrics, and reporting.

Ability to identify and consider both the positive and negative implications of a risk and demonstrate ability to think critically and apply a balanced approach to risk assessment as it relates to strategic objectives, opportunities, and organizational projects. Must demonstrate propensity for risk management, not simply risk avoidance.

Ability to manage multiple people / departments and meet deadlines is necessary.

Ability to work cross functionally and foster relationships between the lines of business and the lines of defense to create a collaborative environment.

Strong communication skills, both verbal and written; ability to communicate effectively with all levels of the organization.

Ability to work on multiple, complex assignments concurrently.

Ability to effectively collaborate with key stakeholders from business units.

Ability to work effectively in a team environment and be recognized as a team player.

Ability to act independently and use independent judgment to assess and assist with the design and implementation of control environment changes.

Reporting Relationships :

Number of Direct Reports : 1

Job Titles of Direct Reports : Manager, BSA

Typical Interactions :

This role will effectively collaborate with key stakeholders from business units. There is a need to frequently interact with all levels of the organization from CEO / Executives to individual contributors.

Physical Demands & Environmental / Working Conditions :

This position is performed primarily in a traditional office or bank / credit union setting, with no expected adverse environmental conditions.

This position requires the ability to :

move self in different positions to accomplish tasks in various environments including tight and confined spaces

remain in a stationary position, often standing or sitting for prolonged periods

adjust or move objects up to 15 pounds in all directions

perform repeat motions that may include the wrists, hands, and / or fingers

use primarily just the fingers to make small movements such as typing, picking up small objects, or pinching fingers together

verbally communicate to convey detailed or important instructions or ideas accurately, loudly, or quickly

hear average or normal conversations and receive ordinary information

prepare or inspect documents or products, assess the accuracy, neatness, and thoroughness of assigned work, or operate office machinery through average, ordinary, visual acuity.

The hiring range for this position in Florida is $115,000 to $141,480 annually. The base pay actually offered will take into account internal equity and also may vary depending on the candidate’s geographic region, job-related knowledge, skills, and experience among other factors. Select benefits may be provided as part of the compensation package, such as medical, financial, and / or other benefits. To learn more about our benefits visit : https : / / / benefits

Disclaimer :

The information contained in this job description has been designed to indicate the general nature and level of work performed by cast members within this role. It is not designed to contain or to be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of cast members assigned to this job.

Salary : $115,000 - $141,480

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