Compliance Officer

Location

Knoxville, TN | United States

Job description

Title: Compliance Officer

Location: UT Federal Credit Union Corporate Headquarters

JOB DESCRIPTION STATEMENT:

Responsible for administering, complying with and maintaining all aspects of the Bank Secrecy Act/Anti-Money Laundering Compliance Program. Ensures accuracy and timelines of documentation generation, and efficiency and knowledge of compliance requirements.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

• Stays abreast of changes to federal and state banking laws and regulations affecting the management, operations, and product offerings of the credit union. Interprets and disseminates information on regulatory matters.
• Serves as the credit union's Bank Secrecy Act (BSA) Compliance Officer.
• Reviews and assists senior management with policy updates as laws change. Assures credit union policies are accurate, current and in compliance with federal and state regulations.

• Communicates current state of legislative issues to management, recommending the credit union's position.

• Participates in new product/service development, recommending appropriate compliance controls.
• Reviews new advertisements and disclosures for compliance with federal and state regulations.
• Coordinates compliance reviews with the credit union's third-party compliance consultant. Informs management of any compliance deficiencies noted during third-party reviews and tracks all outstanding deficiencies and corrective actions.
• Assists with regulatory examinations.
• Files currency transaction reports (CTRs) and conducts anti-money laundering (AML) research on suspicious accounts. Processes the bi-weekly FinCEN update. Prepares the monthly BSA report for the Board of Directors.
• Researches suspicious activity reports (SARs) and coordinates SAR committee meetings as necessary.
• Acts as the Vendor Management Program liaison by overseeing the quality of the third-party relationships and monitoring and reporting as required .
• Responsible for the NMLS registration of current employees, new employees, and updates to the Registry.

PERFORMANCE STANDARDS:

Ability to interpret regulations and laws, and disseminate information. Knowledge of Bank Secrecy Act/Anti Money Laundering/U.S. Patriot Act, OFAC Regulations. General knowledge and understanding of bank deposit operations, lending activities, and other related consumer banking and compliance functions.

MINIMUM REQUIREMENTS:

• Maintain a positive attitude with employees and members, and remain flexible while focused on accepted practices, policy, productivity and effectiveness.
• Promote awareness of the credit union mission and brand statement to the credit union membership.
• Abide by the Service Standards established by the credit union.
• Strong knowledge of financial products and services.
• Regular and predictable attendance.
• Excellent verbal and written communication skills to communicate professionally.
• Maintain a professional appearance in accordance with established dress code policy.
• Technological skills and knowledge, including computer literacy.

QUALIFICATION REQUIREMENTS:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION and/or EXPERIENCE:

Bachelor's degree from four‑year college or university in a related field; and at least two years related experience; or equivalent combination of education and experience.

LANGUAGE SKILLS:

Ability to read and interpret documents such as regulatory instructions, policy manuals, task documentation, and procedure manuals. Ability to write clearly and concisely, as well as in producing routine reports and correspondence. Ability to speak effectively before groups of employees of organization.

MATHEMATICAL SKILLS:

Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent and to create and interpret bar graphs.

REASONING ABILITY:

Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form. Ability to deal with problems involving several concrete variables in standardized situations.

CERTIFICATES, LICENSES, REGISTRATIONS:

None required. Certification in compliance preferred.

Job tags

Salary