VP of Risk

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.

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 improvements.

•Ensures proper and complete documentation of team member activities that would be required for review by examiners from the state and federal regulations, codes, and agencies, NCUA, and CFPB.

•Other duties and projects assigned.

SUPERVISORY RESPONSIBILITIES

The VP of Risk & Compliance will supervise the Risk/Compliance Analysts, Risk/Compliance Officers, and Quality Assurance and Risk Specialists including the processes and systems associated with their duties and responsibilities while coaching and training them to performance excellence. Carries out supervisory responsibilities in accordance with the credit union's policies and applicable laws.Responsibilities include interviewing, hiring and training employees, planning, assigning and directing work, defining effective workflow scheduling, appraising performance, rewarding and disciplining employees, addressing complaints and resolving problems.Supervise team member work schedules, PTO, workload, managing daily activities and projects, long-term priorities, and monitoring service levels.Periodically review and update as needed procedures governing the Compliance/Risk team member roles, activities, duties, and processes.Interface with and provide progress reports to Chief Risk Officer related to department performance, KPI/KRI development and achievement, team member functions through scheduled one-on-ones and additionally as needed.

PERFORMANCE STANDARDS

Maintains a written plan for each program assigned as a primary responsibility and ensure all aspects of the plan are followed.Reviews and update the plan regularly and at least on an annual basis.Conducts research and effectively analyzes laws and regulations.

Displays excellent written and verbal communication skills when interacting with management, the Board of Directors, the Supervisory Committee, all personnel, members, auditors and examiners.Maintains professional composure, objectivity and fairness when dealing with conflicts and sensitive matters.Displays attention to detail, ability to multi-task and meet established deadlines.Exhibits sound judgment, critical thinking and problem solving skills.Maintain collaborative relationships with all departments.Demonstrates professional care and the highest standards of professional competency.Supports a strong sense of teamwork and commitment to mentoring and serving others.

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

•Proven ability to develop and implement effective compliance programs.

•Strong analytical skills with attention to detail.

•Strong ability to provide evidentiary information for recommendations toManagement, that are compelling, practical, actionable and with different options to solve potential concerns.

•Persuasive in verbal and written communication, providing a robust rationale and a strong qualitative and/or quantitative evidentiary conclusion.

•Practices professional skepticism, respectful disagreements, and seeks for common-ground resolutions that further the goals of the Credit Union.

•Ability to lead, coach, and train others in compliance and assessments and other activity.

Regulatory Requirements:Your position has specific procedures that must be followed to comply with Privacy Act, Office of Foreign Assets Control (OFAC), and Bank Secrecy/Patriot Act. You will receive annual training to keep you current on any changes to these policies/procedures to assure compliance.Failure to comply with procedures may cause termination of your position as well as possible monetary penalties from the federal regulatory agency.

EDUCATION AND/OR EXPERIENCE

Bachelor's degree or equivalent experience.

•Minimum of five (5) years of prior financial institution credit union specific

•Minimum of seven (7) years of prior risk experience.

•Minimum of ten (10) years of prior compliance experience.

•Minimum of three (3) years of Reg Z, Truth and Savings Act, and Card Act experience.

LANGUAGE SKILLS

Ability to read, analyze and interpret and communicate regulatory information and technical procedures relating to a credit union operation.Ability to write reports, business correspondence and procedure manuals.Ability to effectively present information and respond to questions from groups of managers, directors, employees and members as required.

MATHEMATICAL SKILLS

Ability to calculate figures and amounts such as discounts, interest, commissions, proportions and percentages.Ability to apply concepts of basic algebra and geometry.

REASONING ABILITY

Ability to define problems, collect data, establish facts and draw valid conclusions.Ability to interpret an extensive variety of regulatory and technical instructions in several abstract and concrete variables.

CERTIFICATES, LICENSES, REGISTRATIONS

NAFCU Certified Compliance Officer (NCCO) or CUNA Credit Union Compliance Expert (CUCE), and (BSACS) designation strongly preferred. Designation will be obtained within 1 year from date of hire if not already held. Sherpy and Jones Compliance Certification course annually.

OTHER SKILLS and ABILITIES:

Ability to operate a PC to access the credit union's accounting system, member account information, spreadsheets, and on-line is required.Basic input, output, error correction, general ledger account structure knowledge essential to be able to perform the job is required.

Basic proficiency in Microsoft Office (Work, Excel, Power Point and Outlook) is required.Annually complete and achieve passing scores on various SAFE FCU Policy, Procedure, Development and Enhancement Curriculum.

PHYSICAL DEMANDS

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to talk or hear.The employee frequently is required to use hands to finger, handle, or feel objects, tools or controls.The employee is occasionally required to stand, walk, reach with hands and arms, climb or balance and stoop, kneel, crouch or crawl.

Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception and the ability to adjust focus.Occasionally lift/and or move up to 35 pounds.

WORK ENVIRONMENT

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job.Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.The noise level in the work environment is usually low to moderate.

MENTAL DEMANDS

The mental characteristics necessary to competently perform this job include the need to occasionally use basic and complex numeric calculations, persuasiveness, and creativity, to frequently use resourcefulness and problem solving and to continuously use analyzing skills.

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