Risk Manager

Location : Address:
27000 Evergreen

Location : City:
Lathrup Village

Location : Postal Code:
48076

Responsibilities:

JOB SUMMARY:

• Works with the Director to develop, design and implement proactive and preventative policies and practices that limit or reduce, insofar as possible, the financial, physical and human risks associated with operating a financial institution within our branch network. The Risk Management Manager monitors regulatory compliance requirements and implements risk management best practices that provide adequate security safeguards to protect the financial and physical assets of the credit union. Acts as a Security Officer for the credit union.

KEY JOB RESPONSIBILITIES:

• Oversee fraud investigations into actual or potentially suspicious incidents involving members and/or team members to determine all facts pertaining to the situation. Obtain evidence, summarize/communicate information to the Director of Risk Management and Senior Management required for taking action and institutes corrective action processes, including but not limited to: informing the Internal Auditor and Supervisory Committee; contacting the appropriate law enforcement agencies for commencing potential arrest and prosecution processes; filing charges with the appropriate agency; notifying the bonding company of potential claims and filing claims; filing claims in Small Claims Court; may be involved in contacting the credit unions attorney; and such other action as might be appropriate to the individual circumstances of the situation, as determined by the Director.
• Assists the Director with leading the credit union Physical Security Program including, but not limited to: alarm systems; issuance and control of security badges for team members, vendors, contractors and other appropriate parties; security officers and physical premises protection; insurance and bonding contracts; issuance of security policies and procedures; conducting risk assessments; verifying liability coverage of vendors and contractors who may be engaged to perform facilities management services to the credit union.
• Prepares/updates Record Retention Program outlining and establishing measures and procedures for handling, storing, safekeeping, and destroying classified records and documents, and for granting credit union personnel or visitors access to classified material or entry into restricted areas. Revises and updates the program based on the premises and information systems security requirements and industry trends with respect to fraud, burglaries, larcenies, and embezzlement.
• This position is responsible for managing a comprehensive monitoring program to ensure compliance with the Bank Secrecy Act, the USA PATRIOT Act, and other applicable laws and regulations.
• Oversees and/or performs investigations of all "alerts" generated by the anti-money laundering monitoring system to determine whether transactions identified qualify as suspicious activity.
• Prepares, reviews, and submits appropriate forms to the Financial Crimes Enforcement Network (FinCEN) as required by law. Coordinates contact with Law Enforcement to provide information regarding ongoing investigations for reported suspicious activity. Maintains information and prepares reports on customers with confirmed suspicious activity.
• Prepares and reviews policies, procedures, forms and other documentation to provide guidance and direction to all applicable lines of business on the requirements for identification and reporting of suspicious activity. Documents all processes and procedures for managing the automated anti-money laundering system and update as necessary.
• Conducts system tests of the anti-money laundering system including tests of updates provided by vendors. Under the direction of the Risk Director, communicates with vendors to report and resolve any outstanding issues. Coordinates systems modifications and initiatives as necessary to meet new regulatory requirements.
• Aids in the design of loss prevention programs; educates and trains staff in risk control practices; and periodically conducts tests of all risk management practices, procedures and devices to ensure adequate application and performance. With the Director, institutes appropriate corrective action for all deficiencies discovered.
• Conducts and supports cross-functional asset recovery tasks involving fraudulent transactions (e.g., bad checks, fraud, cash shortages, stolen credit/debit/ATM cards, etc) and contacts perpetrators to attempt recovery. Implements legal recovery processes as directed. Maintains a hot list of individuals of questionable character and members who have caused the credit union a loss and provides adequate information in the core processing system to alert all teams as a reference point for limiting exposure to potential risk.
• Fully knowledgeable about state, federal and local security regulations, restrictions and requirements relative to the risk exposures inherent in the credit unions operations.
• Coordinates with the Training Team to develop and implement technology-based team member compliance and security training programs.
• Assists Director in the preparation of an annual Security Officer report for the President/CEO, summarizing therein the years losses, recoveries, types of criminal activity experienced and other security incidents and risk exposures, as well as recommendations for future loss reduction.
• Advises the Director and implements such other risk management practices and procedures as may be appropriate.
• Becomes/is an advocate of The Michigan First Way, supporting all facets of it, including complete fulfillment of Our Promise, 5 STARS Service, SOLVE IT and our ISMs. Fosters a positive demeanor and image through professional representation in all contacts with both, team members and members. Consistently reflects and displays each of our ISMs in daily job performance, as well as in all business interactions while executing on our goals and initiatives. Learns and utilizes EMEC (Every Members Experience Counts) in day-to-day responsibilities when communicating with members only.

LEADERSHIP RESPONSIBILITIES:

• May be required to direct and monitor activities of risk management staff or vendor personnel including security officers, security equipment installers, and alarm companies. Carries out supervisory responsibilities in accordance with the organizations policies and applicable laws. Responsibilities may include interviewing and making hiring recommendations; training team members; planning, assigning and directing work; appraising performance; rewarding and disciplining team members; addressing complaints and resolving problems.

QUALIFICATIONS/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 accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Bachelors degree
  Must have past experience working in a financial institution, preferably a credit union
• Must have physical security experience
• Minimum of five (5) years of loss prevention experience
• Three (3) years of security technology experience
• Five (5) years of credit union regulatory compliance
• Past leadership experience required, preferably overseeing a risk team
• CFE certification desired
• Ability to operate a personal computer, including a full working knowledge and ability to utilize the following software programs:
  • Word (i.e. Microsoft Word, WordPerfect)
  • Spreadsheet (i.e. Excel, Lotus, Quattro Pro)
  • Fraud prevention/compliance software, and other software applications as might be applicable from time to time to the service delivery function of the Credit Union
• Must be highly organized and detailed-oriented with a willing to work hard and desire to constantly learn/grow
• Must be able to logically and rationally evaluate various situations that arise. Must be able to rate and prioritize events based on immediate risk, while still effectively evaluating the overall risk associated.
• Must be able to quickly identify problems and brainstorm potential fixes
• Must clearly understand that this position will require after hours work and must be available 24/7 with no scheduling concerns that would prohibit this type of schedule.
• Must have the ability to manage stressful/anxious situations to ensure that the organization feels supported

CERTIFICATES, LICENSES, REGISTRATIONS:

• May be required to become certified as a Notary Public for the purpose of verifying signatures, executing documents and obtaining information. May be required to become certified or licensed to operate security equipment, carry and/or use security protection devices.

Michigan First Credit Union was founded more than 90 years ago by educators and now delivers world-class service to more than 165,000+ members at our branches throughout Michigan, and were growing We offer financial solutions for every life stage and seek to positively transform our members lives through personalized service that meets their unique needs.

Simply put, Michigan First Credit Unions sole mission is to provide the highest quality member experience. Working here, youll get to participate in a strong culture centered around service, professionalism, and growth.

Michigan First highlights:

• 500 team members
• 30 locations spanning the Lansing area, Grand Rapids and Metro Detroit.
• Industry leader in community support and charitable giving through the Michigan First Foundation
• Member Services Call Center operates 24/7/365
• Over $1.5 Billion in assets

Awards Michigan First Credit Union has been the proud recipient of:

• 2023 Best & Brightest in the Nation
• 2023 Best & Brightest in Metro Detroit
• 2023 Best & Brightest in West Michigan
• 2023 Best Credit Unions to Work For
• 2023 Best Places to Work in Southeast Michigan
• 2023 Channel 4 - Vote for the Best - Mortgage Lenders (1st Place)
• 2023 Channel 4 - Vote for the Best - Credit Unions (3rd Place)
• 2023 Detroit Free Press Top Workplaces
• 2023 Michigan Veterans Affairs Agency - Certified Veteran Friendly Employer - Bronze Level
• 2021 Credit Union of the Year by NAFCU (National Association of Federally-Insured Credit Unions)

Benefits and perks of joining our award-winning team include:

• Very competitive pay
• Low-cost medical, dental, and vision benefit options. Employer-paid life and disability insurance
• 401(k) - 100% match up to 5% deferral
• Tuition reimbursement for both Undergraduate and Graduate degree program
• Access to a complimentary concierge service that assists with nearly any item on your to-do list
• Free, state-of-the-art fitness center at our Lathrup Village headquarters with exercise equipment, showers and locker rooms
• Wellness initiatives and events throughout the year to help team members stay healthy
• Loan discounts for certain secured and unsecured loans and mortgages
• Opportunities for pay increases, incentives and profit-sharing, based on performance
• Onsite subsidized top notch Cafe 26 for team members' use
• Onsite bowling center

Michigan First Credit Union is an Equal Opportunity Employer.