Compliance Specialist

Founded by a small group of educators, Michigan Schools & Government Credit Union (MSGCU) has been providing quality financial services to the community for 70 years and welcomes everyone in Michigan to bank with us. We are financial champions committed to helping our members achieve financial success by rallying behind them and their goals. As the sixth largest Credit Union in Michigan, MSGCU has 22 branch offices in southeast Michigan...soon to be 23! We have over 450 team members, more than 145,000 members, $3.5 billion in assets, and a 95% member satisfaction rating for two decades.

We are a caring organization that strives to ensure an equitable and inclusive culture where everyone is valued and respected. With regular coaching and continuing education, we grow champions - team members dedicated to championing the success of our members. Our commitment to team member engagement has contributed to the honor of being named a Top Workplace by The Detroit Free Press eleven years in a row.

If you have a passion for helping people and providing exceptional and dependable service, we want you on our team!

Information about our comprehensive total rewards package can be found here.

Overview of Responsibilities: Maintains and enhances an effective compliance management program that provide a framework to manage compliance related risks, identifies relevant risks and opportunities, determine the impact magnitude, and implements response strategies while monitoring progress. Effectively evaluates potential situations that could impact MSGCU's ethics and compliance standards, business practice requirements, and financial reporting integrity to minimize impact to the organization.

Essential Duties and Responsibilities:

• Supports compliance with organizational and regulatory policies and procedures by reviewing internal processes and providing feedback for updates. Utilizes assessment software to document, rate, and track compliance initiatives. Suggests policy changes to leadership to enhance compliance and disseminates information on laws and regulations to relevant departments.
• Maintains compliance with the Bank Secrecy Act by ensuring timely completion and filing of required reports. Manages alerts from regulatory bodies such as the National Credit Union Association (NCUA) and department of Insurance and Financial Services (DIFS). Prepares monthly memos, summarizing alerts and MSGCU's correspondence.
• Administers and provides training for the vendor management program. Coordinates the ERM department's due diligence process by proactively tracking reporting requirements, requesting required documentation from vendors, reviewing for completeness, and presenting to appropriate leaders for approval.

• Works with legal counsel to ensure that contracts, agreements, and disclosures are accurate, complete, properly protect MSGCU. Escalates ambiguities with legal outside the typical scope of contracts and disclosures for additional support.
• Reviews and approves advertising, marketing, and promotional materials for compliance with applicable laws. Participates in new product development and provides feedback on compliance concerns..
• Provides support for internal and external investigations and internal audits, ensuring adherence to relevant laws and regulations. Responds to compliance Help Desk requests timely.
• Stays current on compliance laws and regulations by attending training sessions and participating in industry events. Monitors trends and changes in regulatory compliance laws, collaborates with department leaders to assess operational impact and maintain compliance.

Essential Knowledge, Skills, and Abilities:

• Member Focus: Uses effective listening skills to gain insight and understanding, resolve problems, build strong relationships (internal/external) and achieve results in a professional, efficient, and courteous manner.
• Action Oriented: Uses a proactive approach to anticipate needs and take on new opportunities, unfamiliar tasks, and tough challenges with a sense of urgency and enthusiasm. Strong reliability, thoroughness, attention to detail, and solutions orientation.
• Ensures Accountability: Follows through on commitments; acts with a clear sense of ownership; and takes personal responsibility for decisions, actions, and failures.
• Communicates Effectively: Uses knowledge of organizational culture develop and deliver effective communications (verbal, written, presentation) that convey a clear understanding of the unique needs of different audiences.
• Instills Trust: Builds relationships and gains the confidence of others by modeling honesty, integrity, authenticity, and behaviors that align with organizational values. Exemplifies courage by stepping up to address difficult issues. Demonstrated ability to handle highly confidential and sensitive information with discretion.
• Self-Development: Actively seeks new ways to grow and be challenged using formal and informal development channels. Seeks out and learns effectively from new experiences, others, and structured learning.
• Manages Ambiguity: Operates effectively, even when things are not certain, or the way forward is not clear. Adapts quickly to changing conditions or priorities.
• Working knowledge of Microsoft Outlook, Word, Excel, PowerPoint, and ability to operate other standard office equipment.

Essential Preparation and Training:

• Bachelor's degree in Business Administration or related field or the equivalent combination of education and relevant work experience; and
• 2 years of compliance or risk management experience with exposure to regulations impacting financial services including, Anti Money Laundering (AML), Bank Secrecy Act (BSA), Patriot Act, or Office of Foreign Assets Control (OFAC).
• Preferred CUNA designations include;
  
  
  
  • Credit Union Compliance Expert (CUCE), Bank Secrecy Act Compliance Specialist (BSACS) or Certified Regulatory Vendor Program Manager (CRVPM).
  
  
  
  

Working Conditions:

• Office and branch location environment with little discomfort from noise, extreme temperature, dust, or other factors.
• Occasionally required to travel throughout MSGCU's service area as business needs require.
• Exposed to potentially hazardous conditions such as robbery. Receives detailed instructions and security procedures on an annual basis to minimize risk.
• This work involves sitting most of the time with brief periods of walking or standing and may occasionally require lifting and/or moving up to 10 pounds.