Compliance Officer

Compliance OfficerThe Compliance Officer is responsible for administering and improving all aspects of the credit union's compliance management program. This position plans and organizes the administrative, lending, deposit, operational and marketing compliance activities, along with administering the fiduciary account program.Essential Functions:Ensures compliance with all state and federal regulatory requirements including, but not limited to, Anti-Money Laundering, OFAC, BSA, GLBA, HMDA, Reg CC, Reg D, Reg E, Reg Z, Truth in Savings, Truth in Lending, Illinois Credit Union ActAdvises Director of Risk and Senior Management of emerging compliance issues and guides in the establishment of controls to mitigate risksConducts research of regulatory related matters at the request of Senior ManagementWorks with appropriate functional areas to review, identify, recommend and test processes for compliance and riskAssists in the development of and review proposed changes to credit union policies, internal guidelines, and procedures for compliance with applicable regulatory requirementsReviews and revises all credit union deposit, loan and electronic delivery disclosuresConducts compliance review of marketing, deposit, loan, electronic disclosures and materialsConducts internal compliance and risk reviews in accordance with established standards and practicesCoordinates external compliance examinations and risk reviewsAdministers Vendor Management ProgramConducts compliance and fiduciary training for employees and membersMaintains and improves the compliance programAdministers the Fiduciary Account Program, including Individual Retirement Accounts (IRA), Education Savings Accounts (ESA), Health Savings Accounts (HSA), Trust Accounts, Deceased and Estate Accounts, Power of Attorney (POA), Guardianship, Representative Payee and Doing Business As (DBA) accounts.Acts as a liaison with third party IRA/HSA administratorAssist members with fiduciary account questions and processes account transactionsDevelops and reviews reports to audit fiduciary transactions, including tax reportingMaintains confidentiality of information and controls. Protects all credit union sensitive information and materials within the scope of the department functionsSecondary Functions:Assists with Business Continuity Program managementCoordinates record retention program and scheduleWorks with Fraud and Risk to maintain the controls needed to protect the assets of the credit unionOther duties as may be assignedQualifications:Education Required: High School Diploma or equivalentEducation Preferred: 1. Compliance Officer certificationBachelor's degree in Business Administration or related fieldExperience Required: Three (3) years in a financial institution compliance positionExperience Preferred: Two (2) years in a credit union compliance positionTravel: Up to 5% local travel to the service centers. On occasion, attends national conferences and local peer networking events or trainings.The base pay for this position is $55,638.98 to $92,731.63 per year. In specific locations, the pay range may vary from the range posted. Click here to learn more about ALEC and our benefits.