Compliance and Vendor Management Administrator

Overview:

General Summary:

The Compliance and Vendor Management Administrator has responsibility for managing the vendor management program and oversight processes to ensure compliance by the credit union and its vendors with applicable laws, regulations, and credit union policies and procedures. The position will facilitate contract reviews, onboarding/offboarding vendors, assisting vendor owners with due diligence requirements, including reporting requests, and updating the vendor management software with supporting documentation. The role also supports the Compliance Officer with operational and compliance audits to ensure that credit unions policies and practices are in accordance with applicable state and federal laws and regulations.

Principal Accountabilities (75%)

Vendor Management Role

• Serve as a system administrator for the vendor management software. (Includes data entry and data management)
• Collect and analyze third party due diligence.
• Assist vendor owners with annual due diligence requirements, including collection and data entry.
• Initiate vendor searches (i.e. OFAC on business and principals).
• Assist vendor owner in preparing for review termination notices and follow up.
• Coordinate internal reviews and external reviews for higher risk rated vendors.
• Identify potential risks and make recommendations to management to approve or to further evaluate risk level based on program requirements.
• Review vendor agreements and contracts to ensure expectations are clearly defined, well documented and defensible.
• Provide information and guidance to business units related to specific vendor contracts/agreements, terms, requirements, and specifications.
• Perform in-depth review of contracts and other legal documents based on knowledge and expertise.
• Assist VP Compliance and Vendor Management in developing, reviewing, and revising policies and procedures, at least annually.
• Utilize vendor management software calendaring to track contract cancellations, renewal dates and set reminders to ensure timely notifications to vendor owners.
• Collaborate with vendor owners to ensure appropriate vendor monitoring documentation is prepared and submitted on a timely basis.
• Partner with vendor management software service managers to request and review service reports for higher risk vendors.
• Evaluate external report findings and present to internal subject matter experts for review.
• Escalate high risk cases, as needed.
• Track and document all notifications of vendor data breaches and maintains a monthly report, coordinate notice of same to relevant departments.
• Monitor various information sources for negative news related to the credit union vendors.
• Participate and coordinate with business unit(s) and Information Security to gather and provide SOC Reports and supporting documentation for early review.
• Special projects and other duties as assigned, including Environmental, Social and Governance monitoring, support, and guidance to business units.
• Assist in the preparation of policy related Memos to the Board and/or applicable Board Committee.
• Provide internal department support and to other departments to assist with regulatory compliance examinations conducted by internal auditors, external auditors, and regulatory examiners as it relates to BSA, Vendor Management or Compliance.

Secondary Accountabilities (25%)

Compliance Role

• Responsible for submitting, proofing and accuracy of marketing/advertising materials and collateral related to compliance.
• Assist VP Compliance and Vendor Management in identifying, ordering, and scheduling compliance audits for the credit union.
• Serve as a system administrator for the compliance management software.
• Assist in monitoring applicable regulatory compliance updates and notify the appropriate business unit(s) of change(s) in a timely manner.
• Collaborate with the business unit(s) to update the appropriate policies and procedures related to compliance updates, when necessary.
• Serve as a regulatory compliance resource to assist Compliance Officer, as needed.
• Provides support to other roles within the department as needed.
• Provides support to other departments as the need arises.
• Provides ad hoc reporting and analysis as needed.
• Performs other duties as requested or assigned.

Position Requirement and Qualifications

Skill Set Requirements:

Excellent abilities in the following: Writing, working independently, problem-solving, planning, organizational skills, calendaring, and detail-orientation. Requires communication skills to interact with all levels within and outside the organization. Ability to exercise discretion, judgment, tact, and diplomacy. Ability to learn new functions, support innovation, demonstrate initiative, and accept new responsibilities. Ability to research, analyze, and interpret complex laws and regulations. Must be able to work on multiple tasks and assignments within specific time constraints, juggle competing priorities and manage time well. Must be able to read and interpret typical business correspondence, reports and/or department procedures and policies.

Knowledge, Education, Certifications, Licenses:

• 1 - 3 years of related experience and/or training in the financial industry; two-year college degree or completion of a specialized course of study or certification in related field preferred.

• Ability to develop and maintain rapport with co-workers to effectively obtain and communicate compliance information.
• Working knowledge of various business line operations and expected activities.
• Strong analytical and communication skills.
• Good verbal, written and interpersonal communication skills, with the ability to apply common sense to carry out instructions and instruct others, train personnel, write reports, correspondence, and procedures, and speak clearly to customers and employees.
• Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.
• Ability to work independently with limited supervision while performing duties.
• Ability to prioritize assignments, organize work efficiently, and manage large volumes of details.
• Ability to work independently with a high level of accuracy and attention to detail.

Working Conditions and Physical Demands

Work is performed in a general office environment. This position does not require significant physical efforts. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the job. Refer to the Safety & Health Policy found in California Credit Unions Employee Handbook & Resource Guide.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the job. Refer to the Safety & Health Policy found in California Credit Unions Employee Handbook & Resource Guide.

The information contained in this job description is not exhaustive of all the duties and responsibilities associated with the job and does not alter or modify the at-will employment relationship that exists between California Credit Union and the employee. Additionally, nothing in this job description restricts managements right to assign or reassign duties and responsibilities to this job at any time.

EOE