Senior Compliance Specialist

Company: MSU (Michigan State University) Federal Credit Uni
Location: East Lansing
Posted on: February 23, 2021

Job Description:

Performs a variety of functions related to regulatory compliance. Work involves participating in a comprehensive compliance management plan, including implementation of new regulatory requirements, providing comments on proposed rules, working with business units to ensure compliance with applicable rules and regulations, independently reviewing vendor performance and vendor contracts, and responding to credit reporting disputes. The position is responsible for conducting performance, operational, financial, and compliance reviews; providing consulting services to organizational management and staff; and providing input to the development of regulatory compliance management plans.

Essential Duties and Responsibilities Compliance Specialist I

• Assist in the identification and evaluation of the organization's compliance risk areas and provides moderate input to the development of the ongoing compliance management program.
• Perform various compliance procedures, including identifying and defining issues, developing criteria, reviewing and analyzing current processes and procedures, and documenting the credit union's regulatory compliance processes.
• Assist in reviewing the Credit Union's regulatory compliance program and serves as a resource for compliance questions and issues that may arise from various areas throughout the Credit Union.
• Stay informed of all laws, regulations, and other information that affect the Credit Union's operations; determines whether internal controls are adequate to ensure compliance with Credit Union goals, objectives, policies, procedures, and applicable laws/regulations while maintaining economical and efficient use of resources
• Identify, develop, and document compliance issues and prepare recommendations for improvement; discuss deficiencies, recommend corrective action, and suggest improvements in operations to achieve organizational efficiencies and maintaining regulatory compliance.
• Participate in project meetings to provide the compliance perspective to the development of new products and services, or the modification of existing products and services.
• Assist in communicating the results of compliance and consulting projects via written reports and oral presentations on a timely basis to management, the President/CEO, the Supervisory Committee, and the Board of Directors
• Develop compliance resources and contributes to compliance training materials.
• Assist with training staff regarding compliance regulations.
• Support the Credit Dispute Specialist(s) on an as-needed basis with reviewing and responding to credit reporting disputes received by the credit union.
• Reviews insurance coverage for adequacy and processes insurance related requests
• Prepare and gather information for internal and external audits and NCUA Examinations
• Performs related work as assigned by the Compliance Manager, AVP of Credit Risk and Compliance, and/or Chief Risk Officer.
• Pursue professional development opportunities, including external and internal training and professional association memberships, and shares information gained with co-workers
• Maintain productive team-oriented client, staff, and management relationships through individual contacts and group meetings
• Work overtime upon request of the Compliance Manager, AVP of Credit Risk and Compliance, and/or Chief Risk Officer.
• Identify opportunities for gaining efficiencies through the use of technology, and communicate those opportunities to the Compliance Manager, AVP of Credit Risk and Compliance, and/or Chief Risk Officer.
• Participate in training activities within your department and with the Learning and Talent Development department; such training helps to ensure staff compliance with Credit Union policies and state and federal regulations and laws. Training activities may also include occasional conference attendance.
• Perform other duties and assist other employees, as assigned Compliance Specialist II
  • All of Compliance Specialist I duties and responsibilities.
  • Demonstrate the ability to independently research a variety of compliance issues.
  • Demonstrate significant knowledge of relevant laws and regulations affecting the credit union.
  • Demonstrate the ability to accept increasingly complex duties and responsibilities and perform those additional duties to a satisfactory level.
  • Performs all tasks consistently and effectively. Senior Compliance Specialist
    • All of Compliance Specialist II duties and responsibilities.
    • Demonstrate the ability to independently plan, perform, and complete compliance projects.
    • Assist and mentor team members with less experience in expert areas.
    • Demonstrate an expert-level knowledge of relevant laws and regulations affecting the credit union.
    • Performs all tasks consistently and effectively. Knowledge, Skills, and Abilities Required Compliance Specialist I
      • A bachelor's degree is preferred, preferably in a business-related field
      • A relevant compliance certification or active pursuit of one such designation is preferred
      • A high level of interpersonal and communication skills necessary to relate to and empathize with others and to maintain a friendly and positive attitude.
      • Knowledge of regulatory compliance, financial crimes, and fraud related issues affecting Credit Unions required
      • Knowledge of management information systems terminology, concepts, and practices
      • Knowledge of industry program policies, procedures, regulations, and laws
      • Skill in collecting and analyzing complex data, evaluating information and systems, and drawing logical conclusions
      • Extensive skill in planning and project management, and in meeting multiple deadlines
      • Ability to use independent judgment and discretion, and take initiative, in absence of specific direction from the Compliance Manager, AVP of Credit Risk and Compliance, and/or Chief Risk Officer
      • Skill in negotiating issues and resolving problems
      • Computer skills, including word processing, spreadsheet, systems documentation, and other business software to prepare reports, memos, summaries, and analyses
      • In addition to personal computer, operates standard office equipment, i.e., copier and fax.
      • Considerable skill in effective verbal and written communications, including active listening skills and skill in presenting reports and recommendations for improvement
      • Ability to establish and maintain harmonious working relationships with co-workers, staff, and external contacts, and work effectively in a professional team environment Compliance Specialist II
        • All of Compliance Specialist I knowledge, skills, and abilities.
        • Obtained or is successfully working towards obtaining professional certification.
        • Ability to organize and prioritize work with minimal direction.
        • Extensive knowledge of and skill in regulatory compliance issues affecting credit unions.
        • Considerable knowledge of industry program policies, procedures, regulations, and laws. --Senior Compliance Specialist
          • All of Compliance Specialist II knowledge, skills, and abilities.
          • Obtained or is successfully working towards obtaining professional certification.
          • Ability to assist with the training of other staff on the basics of regulatory compliance issues.
          • Ability to analyze complex problems and perform research in order to provide value-added recommendations for improvement.
          • Expert knowledge of and skill in regulatory compliance issues affecting credit unions.
          • Expert knowledge of industry program policies, procedures, regulations, and laws. Physical Demands and Work Environment
            • Ability to utilize office equipment including work at a computer, interact with others, and move about the department
            • Required to sit for longer periods of time
            • Ability to lift up to 50 pounds
            • Normal office environment where there is minimal discomfort due to temperature, dust, noise, and other factors
            • Exposure to potentially hazardous condition, i.e. robbery. Receives detailed instructions and procedures to be followed to minimize the exposure Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)

Keywords: MSU (Michigan State University) Federal Credit Uni, East Lansing , Senior Compliance Specialist, Other , East Lansing, Michigan