Compliance Officer

Job Overview
We are seeking a dedicated and detail-oriented experienced Compliance Officer to join our team. The ideal candidate will 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.

Responsibilities

• 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.

Skills

• Strong understanding of financial concepts, corporate accounting, and public accounting practices.
• Knowledge of GAAP (Generally Accepted Accounting Principles) and GAAS (Generally Accepted Auditing Standards).
• Experience with financial auditing processes, including risk assessment methodologies such as COSO.
• Excellent analytical skills with the ability to interpret complex financial data.
• Strong communication skills to effectively convey compliance requirements across various departments.
• Detail-oriented mindset with a commitment to maintaining high standards of accuracy in all tasks.

Job Type: Full-time

Pay: $63,000.00 - $71,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Employee assistance program
• Flexible spending account
• Health insurance
• Life insurance
• Paid time off
• Professional development assistance
• Referral program
• Tuition reimbursement
• Vision insurance

Schedule:

• 8 hour shift

Experience:

• Compliance: 3 years (Required)
• Regulatory Compliance: 2 years (Required)

Ability to Commute:

• Davenport, IA 52806 (Preferred)

Work Location: In person

Salary : $63,000 - $71,000