Is responsible for a major organizational component, Risk Management, (Risk and Compliance) and for significant contributions to the formulation and administration of Credit Union wide policies and business goals. Responsible for the implementation and assessments of the Credit Union’s operational risk management program. Ensures that operational controls, procedures and resources are in place to effectively manage operational risk throughout the Credit Union. Implements the Credit Union’s Operational Risk Reporting to ensure transparency of operational Risks to Executive Management. Establishes an internal control program that assures the safeguarding of Credit Union assets and ensures the reliability and integrity of Credit Union information. May represent the Credit Union to regulatory agencies, other financial organizations, professional associations, the community and others. Responsible for implementing and administrating the Credit Union’s compliance and security programs ensuring compliance with applicable rules, regulations and statutory requirements (BSA, Patriot Act, etc.). Responds to questions and/or provides information upon request from members (internal and external). Processes requests/transactions, as appropriate.
AA degree or equivalent required plus a minimum 2 – 3 years’ Risk Management experience or 1-3 years’ experience as a BSA/AML specialist in a related industry. Additional years of related credit union and operational experience may be substituted for a degree.
•Demonstrated knowledge of BSA, OFAC and other established policies and regulations pertaining to credit union compliance and security. Detail oriented.
•Knowledge of credit union fraud mitigation techniques.
•Excellent organizational, analytical and problem-solving skills.
•Ability to conduct presentations and training programs.
•Ability to handle multiple projects/priorities simultaneously and produce the desired outcome.
•Ability to deal with highly confidential information.
•Must possess strong service orientation skills.
•Excellent verbal, written, telephone and interpersonal communication skills.
•Ability to successfully work independently and in a team setting.
•Ability to identify issues, recommend solutions and implement resolutions.
•PC proficient including Microsoft Office (Word, Excel, Outlook and the Internet). Familiarity with financial institution rules, regulations and laws.
•Ability to function in a financial institution branch environment and utilize standard office equipment including but not limited to: PC, fax, copier, telephone, etc. Travel required. Ability to lift a minimum 25 lbs., e.g. file boxes.
•Monitor the Credit Union’s Enterprise Risk Reporting to ensure transparency of operational Risks to Executive Management.
•Recommend enhancements/changes to Enterprise Risk Controls.
•Implement the Enterprise Risk Control framework across the enterprise.
•Create reports that effectively communicate to Executive Management, performance to established risk targets, risk ranking and status of corrective actions.
•Ensure Anti-fraud policies, procedures systems and tools used across the Credit Union adequately protect the Credit Union from losses due to fraud.
•Continually recommend, review, update and enhance policies, practices, as needed.
•Serves as an Information Resource, both internally and externally for Identity theft questions and topical fraud matters.
•Maintain and review Vendor Management software and assist in ensuring the due diligence process is completed by responsible business owners.
•In conjunction with the COO ensures compliance with all rules and regulations including but not limited to BSA, Patriot Act, OFAC and CTR. Assists in the investigation, documentation, and monitoring of compliance with these rules and regulations. Creates and maintains the appropriate documentation to ensure monitoring and compliance.
•Receives and reviews CTR (Currency Transaction Reports) and any other reports regarding reportable or suspicious cash transactions from the branches. Ensure reportable and suspicious cash transaction logs are accurately documented and maintained. Monitors daily the branch transaction reports for cash purchases of monetary instruments for compliance and/or suspicious activity.
•Review a variety of BSA related reports such as Regulation D, Kiting Suspect, Monetary purchase and Significant Balance report for suspicious activity and possible fraud. Monitors and Audits BSA activity throughout the credit union.
•Ensures proper function of BSA/AML and OFAC/FACT Act software systems. Troubleshoots any problems that arise with the software. Recommends and assists in the implementation of new software systems. Assigns access to various systems to appropriate users. Reviews and maintains logs for all user access requests.
•Assist in the development of communication to the appropriate business line manager, senior management and regulatory community of issues relating to BSA/AML and OFAC compliance.
•Develops compliance training materials for staff. Conducts training on various compliance areas, including BSA, FACT Act, OFAC, etc.
•Supports credit union staff to ensure compliance with all necessary state and federal laws and regulations related to BSA, OFAC and Patriot Act.
•Performs other risk management, compliance and administrative related duties as assigned by the COO.
Montgomery County EFCU (MC EFCU) is one of the premier financial institutions, serving the residents of Montgomery County, MD and beyond. As a Credit Union, MC EFCU offers its members a wide array of financial services, supported by the best in technology, and offering the best value by leveraging the cooperative, not-for-profit structure of a credit union.
Please submit application via this link.