Compliance Officer

Who We Are We have the fundamental belief that we, as an organization, can and will improve lives. Rooted in the centuries-old credit union philosophy of people helping people, we maintain a simple premise. Those we interact with will receive equal and just treatment, devoid of intolerance, false judgment, racism, or discrimination of any kind. We must not accept less if we are to fulfill our mission, "We Improve Lives." This mission empowers us to serve the greater good and to make a difference in our world. Our cooperative structure creates a cycle of mutual assistance towards the common goal of the financial well‑being of members. At Black Hills Federal Credit Union (BHFCU), we’re committed to improving the lives of our members every day, and we look for people who share that passion. Don’t have a ton of financial industry experience? No problem. Our onboarding includes an orientation program with ongoing training to help staff further their career at BHFCU by building on their existing strengths. Provide thoughtful and risk-based regulatory expertise in response to business initiatives, line of business guidance requests, internal and external audits, and regulatory examinations. Develop and implement compliance policies and procedures. Ensure compliance with existing processes and procedures and recommend new ones that most effectively anticipate, manage, and reduce risk to the business. Develop and communicate recommendations that support adherence to regulations, industry best practices and/or the compliance program. Assist in developing compliance training programs for staff. Complete and review risk assessments to identify areas of compliance risk exposure, prioritize compliance risks, and enhance internal controls. Assess compliance issues presented through new/revised product and service offerings and work closely with lines of business and the Compliance Manager to plan a response. Review BHFCU forms, disclosures, member publications, advertisements, etc. to ensure compliance with regulations. Work with business units and the Compliance Manager to design a plan for timely and effective resolution of complex issues identified through monitoring and testing. Prepare quarterly and annual compliance reports for management and regulatory bodies. Perform routine monitoring to determine the extent of compliance with regulations, laws, policies, and procedures. Communicate the results of monitoring to the appropriate department managers and senior management, follows up to ensure issues are addressed, escalates issues as appropriate. General Purpose: The Compliance Officer is primarily responsible for ensuring our company complies with various federal and state compliance areas including, but not limited to, Fair Lending laws, NCUA Regulations, HMDA, Truth-in-Savings Act, Truth-in-Lending Act, RESPA, FCRA, etc. This position will work closely with Business Unit Leadership Teams to provide expertise and recommendations. Essential Duties/Responsibilities: Provide thoughtful and risk-based regulatory expertise in response to business initiatives, line of business guidance requests, internal and external audits, and regulatory examinations. Develop and implement compliance policies and procedures. Ensure compliance with existing processes and procedures and recommend new ones that most effectively anticipate, manage, and reduce risk to the business. Develop and communicate recommendations that support adherence to regulations, industry best practices and/or the compliance program. Assist in developing compliance training programs for staff. Complete and review risk assessments to identify areas of compliance risk exposure, prioritize compliance risks, and enhance internal controls. Assess compliance issues presented through new/revised product and service offerings and work closely with lines of business and the Compliance Manager to plan a response. Review BHFCU forms, disclosures, member publications, advertisements, etc. to ensure compliance with regulations. Work with business units and the Compliance Manager to design a plan for timely and effective resolution of complex issues identified through monitoring and testing. Prepare quarterly and annual compliance reports for management and regulatory bodies. Perform routine monitoring to determine the extent of compliance with regulations, laws, policies, and procedures. Communicate the results of monitoring to the appropriate department managers and senior management, follows up to ensure issues are addressed, escalates issues as appropriate. Other Duties/Responsibilities: Consult with the Compliance Manager as well as the managers of business units on compliance and regulatory matters. Maintain a thorough knowledge and understanding of the laws, rules and regulations with which the business must comply and an awareness of issues of recent regulatory focus. Interact with State and Federal Regulatory Agencies, Executive Management, and support departments such as Internal Audit and Legal on an ongoing and regular basis. Provide training and guidance to applicable staff on compliance matters. Serve as a liaison with departments as appropriate in the execution of compliance program components and in complying with regulations. Perform other duties as may be assigned by the Compliance Manager or the General Counsel. Job Knowledge: Strong knowledge of federal and state rules and regulations that apply to financial institutions. Strong knowledge of risk management as it relates to compliance and the development/maintenance of risk assessments. Skilled at applying internal compliance standards, procedures, and techniques as well as credit union compliance procedures. Working knowledge of Credit Union policies/procedures and service philosophy. Working knowledge of the Credit Union's lending processes and systems. Job Qualifications (Skills): BHFCU is committed to working with its employees to reasonably accommodate them with the physical aspects of the position. The following list outlines the physical considerations that are normally encountered in this job. Vision: A sighted person to read and interpret compliance-related laws and regulations. Speech/Hearing: Ability to communicate verbally and in writing with directors, staff, members, and appropriate outside parties. Manual Dexterity: Ability to perform necessary computer-related input. Physical Mobility: Limited mobility required. Job Qualifications (Ability): Ability to understand and follow complex written and oral instructions. Ability to comprehend complex functions and procedures and to be able to disseminate that knowledge in a clear and understandable format to others. Ability to express oneself, clearly and concisely, both orally and in writing. Ability to prepare and maintain confidential records and reports. Ability to gather, assemble, correlate, and analyze facts and develop solutions. Ability to interpret complex laws and regulations. Ability to provide friendly, professional, and accurate service and support to all staff, members, and external contacts. Strong aptitude for analytical work, to include legal and regulatory research, documentation of findings, risk analysis, and policy development. Ability to maintain a high level of confidentiality. Ability to research and solve complex problems or issues. Ability to work with multiple departments daily. Job Qualifications (Education/Experience): Regulatory compliance certifications or willingness to obtain preferred. Certifications may include Certified Regulatory Compliance Manager (CRCM), Certified Credit Union Compliance Officer (CUCO), or Certified Mortgage Compliance Professional (CMCP). Job requires a four-year college level equivalent of language, math, and reasoning skills. A bachelor’s degree is preferred. Minimum of five years’ experience working in a financial institution or in a compliance or auditing role in another industry. Formal training should be supplemented with continuing education. Working Conditions: Material and Equipment Involved Presentation Aids Signature Pads WebEx Tablet and Mobile Devices Scanners Projectors and Screens Microsoft Word Suite Photocopy Machine Various Software Applications Work Environment/Physical Activities Occasional travel to one of BHFCU’s branch locations or attendance at community events may be required. Physical Requirements Perform primarily sedentary work with limited physical exertion and occasional lifting of up to 5 lbs. Must be capable of climbing/descending stairs in emergency situation. Must be able to operate routine office equipment including telephone, copier, facsimile, and calculator. Must be able to routinely perform work on computer for an average of 6-8 hours per day. Must be able to work extended hours whenever required or requested by management. Must by capable of regular, reliable and timely attendance. Working Conditions Must be able to routinely perform work indoors in climate-controlled shared work area with moderate noise. Mental And/or Emotional Requirements Must be able to perform job functions with supervision and work effectively either on own or as part of a team. Must be able to read and carry out various instructions and follow oral instructions. Must be able to speak clearly and deliver information in a logical and understandable sequence. Must be able to perform basic mathematical calculations with extreme accuracy. Must be capable of dealing calmly and professionally with numerous different personalities from diverse cultures at various levels within and outside of the organization and demonstrate highest levels of customer service and discretion when dealing with the public. Must be able to perform responsibilities with composure under the stress of deadlines/requirements for extreme accuracy and quality and/or fast pace. Must be able to effectively handle multiple, simultaneous, and changing priorities. Must be capable of exercising highest level of discretion on confidential matters. Notice: This job description is not intended to be, nor should it be construed as, a contract or guarantee of employment. Black Hills Federal Credit Union adheres to all federal and state labor laws regarding termination and probationary periods. This position is also subject to all the personnel policies of Black Hills Federal Credit Union. Changes may be made to this job description at any time by the President. Black Hills Federal Credit Union is an equal opportunity employer. Black Hills Federal Credit Union is an equal opportunity employer. All applicants will receive consideration without regard to age, race, color, sex, sexual orientation, genetic information, religion, national origin, disability, veteran status, or any other status or condition protected by state or federal law. BHFCU will provide reasonable accommodation to qualified persons with a disability but who are otherwise able to perform the essential functions of the job. #J-18808-Ljbffr