Senior Director of Compliance and Fiduciary Accounts

Job Description

Job Description

Manages ACUs formal compliance program and administration of complex member accounts. Responsible for ensuring the policies and procedures of the Credit Union comply with all appropriate laws and regulations. Analyzes new and pending laws that could directly affect the Credit Union's current practices. Develop and revise current policies and procedures to ensure compliance. Ensures all affected areas of the Credit Union are kept informed of changing laws and procedures for implementation to be completed at the appropriate time. Direct the operations encompassed in fiduciary and complex credit union member accounts including IRAs, Trusts, Estates, Coverdell's, Commercial/Business and Deceased, to ensure regulatory/legal compliance while recognizing the balance between member service and risk mitigation.

Essential Functions & Responsibilities:

Analyze new and pending laws and regulations which will affect the Credit Union's operations, develop and periodically review and update the policies and procedures to ensure compliance with the applicable Federal and State laws and regulations, notify all affected parties of the changes and the new procedures adopted.

Develop and implement formal policies and procedures for credit union accounts designated as complex to ensure all applicable regulations, legal and tax documentation and best practices for risk mitigation are properly adhered to.

Develop a library of compliance resources and work directly with the credit union training department to guarantee effective compliance training for staff and volunteers.

Coordinates projects that involve information disclosure, and policy changes to inform staff of procedures that must be complied with and reviews all forms, disclosures, advertisements and other materials for regulatory compliance.

Prepare and present periodic reports to the Board of Directors concerning the Credit Union's current record of compliance.

Works with examiners and auditors to ensure that compliance issues are adequately addressed. Monitors corrective action of any compliance deficiencies identified by examiners and/or auditors.

Performs other job related duties as assigned.

Performance Measurements:

To maintain a continuous study of applicable State and Federal Laws to ensure the Credit Union's policies and procedures remain compliant with the appropriate laws and regulations.

To ensure departments, management, and staff are made aware of all new changes affecting their compliance within the required time frame as set down by management.

To continuously review, establish, and update procedures for the processes related to IRAs, trust accounts, deceased accounts, estate accounts, and business accounts.

To develop required compliance training including a library of compliance resources to enable employees to educate themselves in relevant areas.

To prepare the periodic compliance reports timely, accurately and professionally.

To keep management informed of key operations issues affecting the credit union.

To maintain a professional, courteous, and friendly atmosphere for members and staff.

This job requires you to be here on time and ready to work your scheduled hours.

Knowledge and Skills:

Experience At least 15 years similar or related experience. 

Education A high school education or GED. 

Interpersonal Skills

Work involves extensive personal contact with others and is of a personal or sensitive nature. Motivating, influencing, and/or training others is key at this level. Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary and often requires the ability to influence and/or sell ideas or services to others. 

Other Skills

Credit union Compliance Officer certification preferred.

Good communication skills. 

Physical Requirements 

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit; use hands and/or fingers; and talk or hear. The employee is occasionally required to stand; walk; reach with hands and arms; and stoop, or kneel. The employee must occasionally lift and/or move up to 20 pounds. Specific vision abilities required by this job include close vision and the ability to adjust focus. 

This Job Description is not a complete statement of all duties and responsibilities comprising the position.