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Compliance Officer

2 months ago


Little Rock, Arkansas, United States Arkansas Federal Credit Union Full time
Job Summary

We are seeking a highly skilled Compliance Officer to join our team at Arkansas Federal Credit Union. The successful candidate will be responsible for ensuring the credit union's compliance with applicable rules, regulations, and statutory requirements.

Key Responsibilities
  1. Regulatory Compliance: Coordinate the credit union's overall compliance with applicable rules, regulations, and statutory requirements through the implementation of a Compliance Management Program.
  2. Risk Management: Conduct risk-based testing over regulatory and consumer compliance laws and regulations, and administer the Credit Union Compliance Program.
  3. Regulatory Knowledge: Serve as a subject matter expert and communication authority for issues needing attention or action by Business Unit leaders, and research, review, interpret, and apply state and federal laws along with regulations applicable to the area of specialty.
  4. Compliance Reviews: Ensure that compliance reviews, testing, documentation, and risk control activity occur in accordance with established standards and practices, and communicate findings and recommendations to AVP/Compliance and business unit leaders as needed.
  5. Vendor Management: Act as administrator for vendor management program and software, and assist product managers by providing program/software support and knowledgeable assistance when a new vendor is being researched or brought onboard.
  6. External Audit Management: Serve as liaison between bidding or contracted audit firms, management, and the Supervisory Committee, and communicate with all parties, receipt and review of all necessary documents, scheduling the approved audits, and supporting the audit firm's needs before, during, and after the audits.
  7. Policy Development: Review, revise, and develop Credit Union forms, contracts, agreements, and disclosures to ensure compliance with applicable laws, rules, and regulations, and communicate with legal counsel and/or bonding agency to ensure that the terms and conditions set forth in forms, contracts, agreements, and disclosures are accurate, complete, and meet the needs of and properly protect the Credit Union.
  8. Compliance Training: Collaborate with Organizational Development to ensure that the annual trainings provided to employees and volunteers meet the regulatory requirements, and review all advertising and marketing materials for compliance to applicable regulations.
  9. Regulatory Reporting: Report as appropriate, regulatory matters, concerns, and/or the overall compliance condition of applicable divisions, departments, operations, or functions within the credit union to the board of directors or senior management.
  10. Compliance Resources: Develop and maintain a Compliance Newsletter to send out electronically with compliance concerns, regulator updates, and upcoming webinars, and develop a library of compliance resources and provide informational assistance as requested.
Requirements
  • High school diploma
  • 3 years of experience in risk management, compliance, audit, or regulatory compliance
  • Compliance Certification equal or equivalent to Certified Compliance Officer through NAFCU or equivalent agency