VP of Risk & Compliance

SUMMARY

As Vice President (“VP”) of Risk & Compliance, you’ll play a pivotal role in ensuring our credit union adheres to regulatory compliance requirements and manages risk effectively. Your expertise in risk management and compliance will be instrumental in safeguarding our members’ financial well-being. Typical workload includes review of workpaper(s), Compliance Assessment reports, and preparation of Compliance Annual Plans, in addition to any ad-hoc requests. The VP of Risk & Compliance will act as a liaison between regulatory agencies and the various departments within the organization on regulatory and related matters. Additionally, this position will interpret and summarize regulatory guidance for applicability, drive internal process improvements, create, and leverage data analytics dashboards for compliance and risk monitoring, and manage, summarize, and provide recommendation(s) on external content submitted by regulatory agencies. This position will oversee the credit unions’ functions through the compliance monitoring program and audits. 

 

** Please note that this role is on-site only (no hybrid or remote options at this time). Location: SUMTER, SC 29150.

 

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following:

• Ensures the credit union maintains compliance with all applicable laws (state and federal) to include UDAAP, BSA, OFAC, Regulation E and all other applicable regulations and regulatory guidance concerning credit union operations. 

• Oversees the credit union’s POA program including tracking, monitoring, mitigating and reporting.

• Prepares policies, procedures, guidance, checklists, forms, disclosures, notices and risk assessments for all areas of responsibility to include quality assurance (loan review) and assure adherence as appropriate.

• Reviews and prepares updates to the TISA and other Disclosure Forms related to product and service offerings to include new product and service offerings.

• Prepares reports and promptly provides other documentation and information to management, the Board of Directors, auditors and examiners and ensures remediation of any findings and recommendations is completed in a timely manner and documented appropriately.

• Performs annual reviews of pre-closing and post-closing processes and servicing processes and initial and closing packages to include denials (consumer and mortgages). 

• Performs, at least annually, compliance review of the credit union’s marketing, signage, text, overdraft and any other opt-in and opt-out programs. Documents findings and ensure timely remediation.

• Conducts and/or coordinates annual compliance training as well as any necessary policy or risk driven training of credit union personnel, the Board of Directors and Supervisory Committee.  Responsible for material creation and delivery of training either directly or through others.

• Develops, implements, administers, and maintains the credit union’s Compliance Management System, including preparing a written Compliance Management System plan document.  This includes program evaluation, staff training and Board level interaction.

• Develops, implements and maintains an effective Records Retention and Forms Management Program and creates procedures, forms and an approval process for the implementation of new forms that are compliant with state and federal regulations.  

• Manages the credit union’s Consumer Complaint Program. Prepares and submits a report to the Board of Directors on a quarterly basis identifying all consumer complaints received by the credit union and whether the consumer complaint was resolved. Investigates and coordinates the resolution of compliance problems, questions or complaints received from the NCUA, or other government regulatory agencies.

• Advises the Board of Directors, Management and relevant personnel, at the appropriate organizational level, of emerging compliance issues and consults and guides the credit union in the establishment of controls to mitigate risks.

• Supports the risk assessment process in accordance with the established risk assessment methodology and framework and in collaboration with the assigned business lines. This includes the following:

• Identifies material risks associated with the business unit’s activities, products, and services;

• Assesses material risks and threats on an ongoing basis by performing periodic compliance and/or operational risk assessments;

• Assists with risk assessment reports that quantify risk exposure to business line management and the second line and management level committee(s).

• Researches regulatory guidance, analyze, synthetize, and conclude based on qualitative and/or quantitative evidence to provide recommendations to Management on improvem