Compliance & Risk Manager

About Us:

SkyPoint Federal Credit Union makes banking simple and accessible. A community-based financial institution, located in Montgomery County, Maryland, SkyPoint serves our members in the greater Washington D.C. metro region with a wide array of financial services, supported by technology, and offers great value, affordable fees, and rates through our member-owned structure. The only designated Community Development Financial Institution (CDFI) credit union in Montgomery County, SkyPoint helps our members and the community gain access to the financial services needed to prosper. Through our inclusive, expert, and compassionate team, we focus on removing banking complexities, and building empowering relationships with our members to help you achieve your financial goals with simple and accessible banking solutions.

General  Responsibilities:
The Compliance & Risk Manager is responsible for ensuring the credit union operates within the legal frameworks and regulations established by governing bodies while safeguarding assets and reputation and mitigating inherent business risks. Collaborates closely with various departments to analyze risks, implement effective compliance strategies, and foster a culture of accountability and awareness regarding compliance issues. Monitors transaction activity, and liaises with third party to conduct and respond to internal audits and assessments to identify and cure potential risk areas and enhance our compliance framework. Serves as BSA Officer.

Fraud Mitigation

• Collaborates with various departments to address member’s fraud reports or inquiries, including fraudulent transactions, identity theft, and consumer protection matters. Responds to third party requests related to fraud or compliance matters.
• Monitors, responds, and documents outcomes of transaction alerts by Compliance and AML software solutions.
• Establishes risk targets and member risk rankings. Responds, provides and reports on corrective actions. .
• Manages fraud prevention policies, procedures and tools used across the Credit Union.
• Is subject matter expert on account and product level loss mitigation strategies.

Bank Secrecy Act

•  Serves as the Credit Union’s Bank Secrecy Act Officer.
• In conjunction with the COO ensures compliance with all rules and regulations including but not limited to:
• BSA, Patriot Act, OFAC and CTR. Assists in the investigation, documentation, and monitoring of compliance with these rules and regulations. Creates and maintains the appropriate documentation to ensure monitoring and compliance.
• Receives and reviews CTR (Currency Transaction Reports) and other reports regarding reportable or suspicious cash transactions.
• Ensures reportable and suspicious cash transaction logs are accurately documented and maintained.
• Monitors MSS transaction reports daily for cash purchases of monetary instruments for compliance and/or suspicious activity.
• Reviews various BSA-related reports: Regulation D, Kiting Suspect, Monetary purchase and Significant Balance report for suspicious activity and possible fraud.
• Monitors and Audits BSA activity throughout the credit union.
• Is responsible for proper function and implementation of BSA/AML and OFAC/FACT Act software systems.
• Assigns access to various systems to appropriate users.
• Reviews and maintains logs for all user access requests.
• Assists in the development of communication to the appropriate internal staff and regulatory community of issues relating to BSA/AML and OFAC compliance.
• In partnership with Learning & Development, develops, recommends and conducts compliance training to ensure compliance with all necessary state, federal laws and regulations related to BSA, OFAC and Patriot Act.

Compliance & Vendor Management

• Serves as subject matter expert for all compliance related matters. Refers staff to external compliance resources and vendors as appropriate.
  Calendars, updates and maintains operating and board policy manuals
• Acts as principal liaison to Aux, the Credit Union’s compliance partner.
• Serves as administrator for the Vendor Management program
• Maintains and reviews Vendor Management software and ensures the due diligence process is completed by responsible business owners.
• Participates in monthly Supervisory Committee meetings and quarterly Information Security Committee meetings providing relevant updates on BSA, Fraud mitigation and general compliance matters.

Physical Security

• Serves as principal liaison to companies providing security monitoring and physical access.
  Provides for periodic monitoring of internal monthly alarm testing, and physical locks and combination controls.
  Establishes & communicates Branch all-clear signs.
  
  

Qualifications:
BA degree or equivalent required plus a minimum of 3-4 years’ experience in risk, fraud or compliance management.  3-4 years’ experience as a BSA/AML specialist in a related industry.  Additional years of related credit union experience, professional education/certification in Compliance and/or Risk Management desired. 

Hours:

SkyPoint FCU is open M-F 9am-5pm

Working Hours: Monday-Friday 8:45am-5:15pm

Based upon business needs, this position may require working at or transferring permanently to neighboring branches within a reasonable commuting distance.

Benefits:

Holidays:                         

Eleven (11) paid per year 

Leave:                               

You will earn Paid Time Off and Personal, Sick and disability leave. Annual leave is accrued at 4.6 hours per pay period (15 days per year). Two personal days are earned per year. Sick leave is accrued at 4.62 hours per pay period with a maximum accrual per year of 120 hours.  

Insurances:                     

Employees are offered medical, prescription, dental, vision and disability insurance. The credit union pays a portion of the monthly premium, and the employee pays a portion. Available providers and costs will be discussed during orientation. All insurance except disability is effective the first of the month following date of hire. 

Life Insurance:               

All full-time employees are required to have Group Term Life (GTL) insurance equal to 1x’s their basic annual earnings, up to $200,000. Active employees over age 65, their coverage is reduced to 65% of the pre-65 face value. This policy is County paid 80%, and employee paid 20%. Additional coverage can be purchased. Information will be available during orientation.  

401(a)/Deferred Compensation:

You will be eligible to participate in the SkyPoint FCU Retirement 401A plan after 6 months of employment. Information about retirement options will be presented during orientation.  

Salary : $71,255 - $89,000