Senior VP Compliance

_*Overview*_

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This position exists to administer, direct and supervise all areas of compliance and security to ensure the credit union is in compliance with all applicable regulations and laws including but not limited to programs, policies, procedures, disclosures, contests, marketing materials and training content. The Compliance Officer will constantly watch for emerging trends in the compliance realm, and be proactive in implementing positive changes. Provide consistent, exceptional service to internal and external members. Situations can move quickly from low stress to high stress and can require long and flexible hours. These work hours include weekends & holidays. This position meets the salary requirements stipulated by the DOL in regards to the FLSA Administrative exempt requirements.

_*Responsibilities*_
* Facilitates the analysis of new laws and regulations, or amendments to existing regulations. Develops impact analysis as appropriate. Follows up on implementation of action plans until completion to ensure compliance. Periodically reports to management and the Board of Directors the impact and status of these changes.
* Acts as the compliance liaison for the organization by facilitating research requests pertaining to the applicability of state and federal laws and regulations to policies and processes, providing guidance and recommendations to business unit leaders, maintaining a network of compliance resources, and elevating higher risked items to CEO.
* Supports all departments in the development and implementation of new products and services to ensure policies and procedures are developed in compliance with the appropriate regulatory requirements.
* Facilitates and supports the compliance review of institutional projects by participating in applicable project meetings, providing guidance, recommendations and requirements as needed.
* Facilitates the review and approval all advertising pieces, campaigns, blogs, promotions, member letters, forms and disclosures to ensure compliance with regulatory requirements. Monitors and reviews the credit union website as well as all social media platforms to ensure compliance at all times. Tracks and reports on activity performed.
* Maintains the Complaint and Litigation processes, tracks through resolution, and reports to management periodically. Analyzes complaint activity to ensure resolutions are sought after as appropriate. Addresses trends, weaknesses, and violations identified during complaint analysis by researching identified issues, drafting recommended resolution plans and working with Management to correct the issues and document appropriately.
* Administers the credit union policy management platform/process by maintaining the policy schedule, facilitating the policy reviews with the appropriate internal resources, verifying procedures are updated with all changes and generating reporting as required. Support cross referencing of policies to ensure changes are made consistently across all policies so all remain compliant. Administers the development of final reports for the Board of Directors in accordance to schedule.
* Responsible for review and approval all new and updated loan and deposit forms and disclosures to ensure compliance with all State and Federal regulatory requirements.
* Facilitates the internal audit process by managing audit and exam pre-work, ensuring that appropriate documentation is provided to fulfill the auditor requests, and facilitates the exchange of on-site request items. Assists with the NCUA Exam by gathering requested documents. Manages audit and exam findings by preparing the draft reports, working with Management to ensure that audit findings are resolved appropriately and in a timely manner. Prepares the Supervisory and Risk Management Committee draft reports. Assists in completing the annual internal audit risk assessment and preparing the annual audit program.
* Stays current on industry developments, attends compliance training and seminars.
* Administers the compliance training program including drafting the Compliance Training Plan, completing the annual compliance training needs analysis, assigning courses, tracking, reporting and escalating issues as needed. Monitors for failed attempts and overdue training and works with applicable parties for resolution. Provides guidance and recommendations to ensure the effectiveness of the compliance training program by evaluating past audit findings, industry trends, and regulatory changes to ensure all are considered in the program.
* Responsible for the credit union's BSA/AML Program to ensure adequacy and compliance with regulatory requirements. Responsible for the following activities: alert and case management, suspicious activity investigations, CTR and SAR filings, high risk account monitoring, CTR exemption reviews, member behavior reviews, among others.
* Stay abreast of and analyzes developing industry and compliance trends, scams and schemes, and changes to laws and regulations pertaining to the BSA/AML/OFAC program.
* Conduct internal/compliance risk assessments and develops control strategies to mitigate risks.
* Coach and mentor the BSA team, including hiring, completing performance reviews, training, career mapping, and performance improvement plans.
* Ensure that all departmental BSA/AML initiatives are current and ongoing.
* Assess and maintain appropriate parameters and thresholds within the AML software to ensure efficiency and compliance with all applicable regulations.
* Act as primary contact of the credit union’s BSA/AML software vendor, ensuring integrity of data and full utilization of its functionality.
* Manage all related audits and ensures corrective actions are implemented.
* Act as primary contact for law enforcement for BSA/AML-related cases.
* Responsible for BSA training, including new hires, annual in-person employee training, Supervisory Committee, Board of Directors.
* Responsible for maintaining BSA/AML/OFAC-related policies, procedures, and risk assessments to ensure compliance.
* Responsible for OFAC compliance, including policy, procedures, training, reporting, and screening of the credit union membership and vendors.
* Act as primary contact for 314(a) and 314(b) and ensures compliance with applicable regulations.
* Develop periodic reports on the overall effectiveness and compliance of the BSA/ AML/ OFAC Program.

_*Knowledge/Skills/Experience Required:*_
* Bachelor’s Degree
* Eight to Ten years of experience in compliance & BSA in a Credit Union and/ or Massachusetts Chartered banks.
* Must have MA Division of Banks compliance and regulator experience
* Needs to have extensive level of understanding and experience in all aspects of compliance. Knowledge of legal commentary, opinions and statements of policy related to laws and regulations.
* Ability to interpret laws in the ways intended by regulatory agencies which may not be evident just by reading the law.
* Strong team player, results oriented, must possess strong analytical and organizational skills with excellent interpersonal and communication skills.
* NCCO or CUCE certification preferred.

Job Type: Full-time

Benefits:
* 401(k)
* Dental insurance
* Health insurance
* Life insurance
* Paid time off
* Retirement plan
* Vision insurance

Ability to Relocate:
* South Boston, MA: Relocate before starting work (Required)

Work Location: In person

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