Compliance Manager

Location
Herndon, VA
Posted
Nov 21, 2021
Closes
Dec 21, 2021
Ref
2021-1883
Hours
Full Time
Overview

For more than 70 years, Northwest Federal Credit Union has provided valuable financial products and services for our members. Northwest offers employees a comprehensive benefits program including: medical and dental plans, paid time off, a generous 401k match, student loan assistance, parental leave, and the opportunity to grow professionally through a wide range of job-based, classroom and online training resources. Northwest Federal Credit Union has been recognized, for the second consecutive year, as a 2021 Top Workplace by The Washington Post and we believe that our success is built upon the excellence and achievement of our employees. Together, we serve and inspire to transform lives.

The Compliance Manager oversees and ensures compliance with applicable laws, regulations, and Credit Union policies. This position will provide compliance guidance to business lines as a subject matter expert to ensure initiatives and processes comply with appropriate laws and regulations. The ideal candidate will possess expertise in Credit Union/Banking regulations.

Responsibilities

  • Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance, monitor and analyze developing trends and changes in laws, rules, and regulations as they relate to credit union activities
  • Participate in new product development and provide input and guidance regarding compliance concerns relevant to proposed and current products and services offered by the credit union
  • Lead compliance regulatory reviews to confirm business units\u2019 compliance with applicable regulations. Document and support findings and communicate to management
  • Responsible for delivering prompt compliance department responses to business unit inquiries by issuing compliance opinions on topics such as federal regulations, state law, and other matters that may arise
  • Oversee ongoing reviews of marketing, advertisements, and disclosures for regulatory compliance
  • Collaborate with department managers on solutions to overcome compliance concerns. Monitor implementation of corrective actions to address compliance-related issues revealed during monitoring activities, internal audits, and regulatory examinations
  • Administer complaint tracking efforts for the compliance department. Apply experience and judgment to identify key trends observed in complaint reviews and identify opportunities to reduce risk
  • As part of the Policy Management Program, ensure all regulatory requirements are accurately documented in appropriate policies
  • Identify, interpret and inform the appropriate personnel/business units of any new or changes to existing regulations or laws
  • Develop and perform risk assessments/evaluations of the credit union\u2019s operations to determine areas for focus and potential liabilities
  • Manage day-to-day operation of the compliance program and related activities on a continuing basis, taking appropriate steps to improve its effectiveness.
  • Performs other related duties as assigned
  • Remains cognizant of and adheres to NWFCU policies and procedures as well as regulations pertaining to the Bank Secrecy Act (BSA)


Qualifications

  • Bachelor\u2019s degree in Accounting, Finance, Legal Studies, Public Policy, general business or another related field; combination of education and related regulatory compliance work experience may be considered
  • Minimum of 5 years of regulatory compliance experience or other compliance or audit work within a financial service institution, experience in compliance oversight, or equivalent combination of education and experience
  • Compliance certification (e.g. Certified Compliance Officer - NCCO, CUCE, CRCM) is preferred
  • Strong analytical ability, and the capacity to conduct research, interpret and understand laws and regulations, and provide practical recommendations and solutions to problems
  • Broad knowledge of federal and state regulations, rules, and guidelines related to credit union deposit and lending functions, as well as related laws
  • Strong written and verbal communication skills required to prepare and present recommendations, strong logic, quantitative and analytical skills; deductive reasoning and problem solving skill and ability to accomplish other functions as needed
  • Ability to work independently, with limited required direction and guidance, and provide appropriate direction to other project team members as appropriate.
  • Ability to interact with all levels of the organization


As a COVID-19 safety measure, our employees must either provide proof of COVID-19 vaccination or follow additional safety protocols, including testing.

EEO Notice

Northwest Federal Credit Union is an Equal Opportunity Employer and will consider all qualified applicants without regard to race, color, age, religion, sex, sexual orientation, gender identity, genetic information, national origin, disability, protected veteran status or any other classification protected by law.

NWFCU complies with federal and state disability laws and makes reasonable accommodations for applicants and employees with disabilities. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact the Human Resources Department at 703-709-8900 or HRDepartment@nwfcu.org.

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