AVP, Risk & Compliance

Job Posting Title:

AVP, Risk & Compliance

Req ID:

10115125

Job Description:

The AVP, Risk & Compliance position is responsible to enhance, administer, and ensure adherence to credit union ERM and Compliance Programs applicable to all banking, deposit, and lending regulatory requirements. This includes conducting, oversight, and coordination of various risk assessments, key risk indicators, risk categories, corrective action monitoring plans, compliance monitoring reviews, policy and procedure guidance, and regulatory compliance research. This role is also responsible for the Credit Union’s overall compliance with the Bank Secrecy Act and for the execution of the quality control and quality assurance programs in compliance with GSE guidelines.

The AVP, Risk & Compliance position is responsible for operational support duties and assists the Head of Enterprise Risk Management & General Counsel with various audits, exams, compliance projects & program functions as needed to complete the components of each program life cycle. The AVP, Risk & Compliance is responsible for supporting compliance initiatives, all aspects of the Compliance Management System (CMS), including the Compliance Program and BSA/AML Program, and ensuring the credit union is following all applicable laws, regulations, and GSE guidelines.

This role participates on the management team at the middle level contributing ideas and concerns. Analyzes, justifies, and recommends changes to enhance productivity and value added. Prepares reports for the Head of Enterprise Risk Management & General Counsel. Provides support for facilitation of regulation examination and assists with internal/external audit and examiner requests related to ERM, compliance, BSA, and quality assurance.

Essential Responsibilities:
•    Directs ERM and Compliance program activities and manages the day-to-day operations of the various risk management teams.
•    Researches, interprets, and communicates regulatory compliance requirements and potential impact to affected business units in coordination with Head of Enterprise Risk Management & General Counsel.  
•    Monitors proposed, newly implemented, and changes to existing laws and regulations. Assists Head of Enterprise Risk Management and General Counsel in disseminating regulatory compliance information.
•    Supports legal administrative activities for legal functions regarding legal demands and lawsuits, legal opinions, power of attorney and subpoena validity, in coordination with Head of Enterprise Risk Management and General Counsel.
•    Leads the Credit Union’s overall research and compliance with the Bank Secrecy Act, Office of Foreign Asset Control, and CIP/CDD/EDD Programs.
•    Identifies and contributes to department policy and procedures to ensure controls are in place, stays abreast of changes to federal and state BSA banking laws and regulations affecting the management, operations, and product offerings of the credit union.
•    Responsible for leading quality control and quality assurance review processes for real estate loans, equity loans, consumer loans, deposit products and file maintenance.
•    Assists Head of Enterprise Risk Management and General Counsel with review of forms, notices, brochures, web pages, advertisements and disclosures for compliance with laws and regulations.
•    Reports on any suspected violations of law, regulations or non-compliance to Credit Union policy and takes responsibility to ensure resolution.
•    Analyzes changes in regulatory and secondary market requirements in relation to their impact on loan processing, underwriting and documentation.

Additional Responsibilities:
•    Provides leadership to, supervises, and directs staff.
•    Supports the development and regular review/monitoring/reporting of the measurement components of the ERM Framework, e.g. risk appetite, risk tolerance levels, and key risk indicators (KRIs).
•    Prepares monthly SAR BOD reports and BSA Risk Assessment.
•    Understands mortgage regulatory laws and GSE Guidelines (Underwriting, Seller’s Guide, QA Programs).
•    Analyzes changes in regulatory and secondary market requirements in relation to their impact on loan processing, underwriting, and documentation.
•    Conducts risk assessments, identifying, evaluating, and managing risks to minimize operational and compliance risks in support of the Enterprise Risk Management program.

KNOWLEDGE AND SKILLS

Minimum Education Required to Perform Job:  Bachelor’s Degree

Degree Focus Required: Financial Services, Risk Management or Legal

Minimum Years of Relevant Work Experience Required to Perform Job Upon Hire: 8 to 10 years

Specific Experience Requir