Compliance Officer / Senior Compliance Officer

Job Title: Compliance Officer / Senior Compliance Officer.

Department: Risk Management

Department Location: Littleton, MA

Reports to: VP/Deputy Chief Risk Officer ("DCRO")

Career Stream: Individual Contributor

Classification: Remote (if hired outside of Mass or New England) or Hybrid (if hired within Mass or New England)

Compensation: The base pay of the budgeted ranges; Compliance Officer - $105,000 - $150,000 annually. Senior Compliance Officer -$122,000 - $180,000 annually. Actual compensation offered may vary from the posted hiring range based on factors such as relevant experience, time in role, base salary of internal peers, prior performance, business sector, licensure requirements and/or skill level, and will be finalized at the time of offer.

FUNCTION: Under the direction of the DCRO, the Compliance Officer is responsible for the implementation, maintenance and management of a comprehensive Compliance Risk Management Program and Framework. Works with senior management and department managers to ensure the Credit Union's compliance with all applicable federal and state consumer compliance laws and regulations. In addition, this position will assist the DCRO with the Enterprise Risk Management Program.

ESSENTIAL JOB DUTIES AND RESPONSIBILITIES:

Accountability #1: Develop, implement and maintain an effective compliance risk management framework and program.

• Serves as primary resource and contact for compliance matters.
• Evaluates Credit Union programs and procedures to ensure compliance with all existing, revised, and new laws and regulations.
• Complaint Management: Documents and investigates all complaints that come from the Credit Union members. Look for trends (e.g., Fair Lending, etc.) and training opportunities.
• Compliance Training Program: Collaborates with the Learning & Development department to ensure annual compliance training is up to date and meets all applicable regulatory requirements.
• Marketing Advertisement Review: Collaborate with the Marketing Department to review all advertisements to ensure compliance with all laws and regulations.
• "Second Line of Defense" Regulatory Testing: Documents and tests all controls regarding the regulations that the Credit Union needs to follow. Document any gaps and collaborate with the business units to resolve discrepancies.
• Serves as the Credit Union's Identity Theft Red Flags Officer and manages the program. Develop a program to detect, prevent and mitigate identity theft.

Accountability #2: Organization-wide support and reporting.

• Assist the DCRO with the Enterprise Risk Management ("ERM") program. This includes training the business units with the ERM Governance Risk and Compliance (GRC) software, leading risk and control self-assessments, analyzing risks and financial implications, and working with the business units to ensure that the level of risk remains within acceptable tolerance limits.
• Responsible for developing and providing ongoing reporting to the Board of Directors, Risk Oversight Committee, and the Supervisory Committee.
• Assist the DCRO with the Risk Oversight Committee packet and minute documentation.
• Identify recurring issues or control failures and escalate to the DCRO.
• Participate or work directly as a subject matter expert on projects and other matters, as assigned.
• Proactively monitors and provides detailed overview of upcoming regulatory changes and identifies the impact to the Credit Union, along with providing recommendations for managing the organizational impact.
• Assist, as needed, the DCRO with internal and external audits, to include examinations.
• Maintains and updates, at least annually, the following: Compliance Risk Management Policy, Compliant Management Policy, and the ID Theft & Red Flag Policy and Program to include the annual Risk Assessment.

Accountability #3: Maintain technical and professional knowledge.

• Maintains current and complete knowledge of regulatory directives relating to Credit Union operations, products and services.
• Attend educational workshops, conferences, webinars, etc.
• Complete annual compliance training as required.
• Keep informed of industry standards.
• Participate in networking groups and meetings with peers.

Other Duties:

• Performs other tasks or functions as required, requested, necessary, or prudent.
• Adhere to all WCU policies and procedures which include security compliance and following guidelines intended to limit risk exposure to fraud and losses.
• Participates in department and/or organizational projects as directed.
• Maintains confidentiality of all members and credit union information and data.

Education

• High School Diploma or Equivalent Required.
• Bachelor's or Associate degree or Compliance specific industry certifications.
• Compliance certifications: CUNA or America's Credit Union preferred but not required (i.e. NCCO, CUCO, CRCM, etc.)

Experience:

• Compliance Officer - At least eight (8) plus years of relevant experience leading functions or teams.
• Senior Compliance Officer - At least nine (9) plus years of relevant experience with a focus on leadership and strategic influence.

Knowledge/Skills/Abilities/Competencies:

• Strong writing skills.
• Extensive knowledge of state/federal laws and regulations.
• General knowledge of bank/credit union operations, lending activities, and related consumer banking functions.
• Excellent analytical and investigative skills.
• Working knowledge of core and ancillary systems.
• Good interpersonal skills with strong oral and written communication skills.
• Well-organized and detail oriented.
• Regularly demonstrates behaviors as defined by the credit union's Fundamentals, which are part of the Workers Way culture program.
• Computer literate with knowledge of Microsoft Office products

Work Environment:

• Remote Work Environment (if hired outside of Mass or New England): This role allows for remote work, with occasional on-site meetings at the Littleton Headquarters as required. This work environment is subject to change based on business needs.
• Hybrid Work Environment (if hired within Mass or New England): This position offers a hybrid work environment, combining remote work with regular on-site days at the Littleton Headquarters. This work environment is subject to change based on business needs.

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.

• This is a largely sedentary role.
• While performing the duties of this job, the employee is regularly required to stand, talk, hear, and use hands and fingers to handle, feel or operate objects, tools, or controls and to reach with hands and arms.
• This role routinely uses standard office equipment such as computers, phones, photocopier/scanner, filing cabinets, and fax machines.
• Ability to travel to other work locations as required.

About Workers Credit Union: Since 1914, Workers Credit Union has existed to Improve the Daily Lives of our Members. We deliver on our core purpose by partnering with our members to help them make their best financial choices and improve their financial wellness. We call this The Workers Way and this is at the center of everything we do. Through our specialized financial counseling, we are pioneering a new member experience through high-touch service and convenient technology. We have grown to over 2.6 Billion in assets and serve over 120,000 members. We are one of the top performing credit unions in Massachusetts with big plans for the future!

Benefits:

• Comprehensive medical, dental and vision plans
• Basic life and AD&D insurance, short-term disability and long-term disability
• 15+ days of paid time off (PTO) per year
• Up to 16 hours of volunteer time off (VTO) per year
• 11+ paid holidays
• 401(k) that includes a Safe Harbor Match of up to 4%.
• Tuition Reimbursement Program
• Mental health resources including an Employee Assistance Program (EAP)
• Individualized learning and development programs

EEO Statement: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.