Director of Compliance - Webster, United States - Wellby

Description

It's fun to work in a company where people truly BELIEVE in what they're doing

We're committed to bringing passion and customer focus to the business.

Position Summary

The Director of Compliance is responsible the oversight and implementation of the credit union's compliance efforts to maintain compliance with applicable federal, state and municipal laws and the rules and regulations of related agencies as well as research, analyze and apprise managers of new or changed regulations relevant to the financial services industry and verify that necessary changes are implemented to comply with the regulations and meet regulatory deadlines.

Principle Duties and Responsibilities

• Willingness and ability to exhibit Wellby Core Values every day.
• Works with purpose and is driven to provide the best team member experience.
• Design, implement, and manage comprehensive compliance programs aligned with federal and state regulations, as well as industry standards and best practices.
• Stay abreast of changes in laws, regulations, and guidelines relevant to the financial services industry, particularly those impacting credit unions. Interpret and communicate regulatory changes to relevant stakeholders within the organization.
• Plan, direct, and execute regular compliance audits and reviews to assess the credit union's adherence to regulations and internal policies. Identify areas of non-compliance and develop corrective action plans as needed.
• Develop, review, and update policies, procedures, and guidelines to ensure they reflect current regulatory requirements and promote a culture of compliance throughout the organization.
• Provide training and training support to L&D Team in the education of team members on compliance-related matters. Foster a culture of compliance awareness and accountability across all levels of the organization.
• Collaborate with other departments to integrate compliance considerations into business processes and decision-making.
• Oversee the timely and accurate preparation and submission of regulatory reports and filings required by relevant authorities, such as the National Credit Union Administration (NCUA) and state regulatory agencies.
• Serve as the primary point of contact for regulatory inquiries and examinations. Coordinate responses to inquiries, facilitate regulatory examinations, and address findings and recommendations from regulatory authorities.
• Lead or participate in compliance committees or working groups within the credit union, providing guidance and strategic direction on compliance-related matters.
• Maintain accurate and up-to-date records of compliance activities, including audit findings, training records, policy documentation, and regulatory correspondence.
• Performs other duties as assigned.

Knowledge, Skills, and Abilities (KSA)

• Knowledge of Wellby's organizational functions, and general operating policies and procedures.
• Knowledge of fundamentals of accounting, economics, business law, finance, and modern information systems in a highly regulated environment.
• Knowledge of regulations specific to credit unions, such as those from the National Credit Union Administration (NCUA).
• Knowledge of developing and implementing effective policies and procedures to ensure compliance.
• Knowledge of applicable compliance statutes, regulations, and interpretations.
• Knowledge and ability to research and advise on the regulatory requirements applicable to financial institutions and the various business entities that comprise the Wellby enterprise.
• Knowledge of secretarial practices and procedures, business English, spelling, and punctuation.
• Knowledge of the personal computer, utilizing Microsoft Office Suite and other software's.
• Skilled in operating computer equipment and general machines, such as personal computers, copiers, projection equipment, audio/video, Microsoft Teams, Zoom Video Communications, and adding machines.
• Ability to communicate information and ideas office so others will understand. Must be able to exchange accurate information in these situations.
• Ability to multi-task, maintain accuracy, and meet deadlines in a fast-paced, high-volume environment
• Ability to proactively identify compliance issues and develop effective strategies to resolve them.
• Ability to manage complex cross-departmental special projects.
• Ability to compile and summarize data, perform analysis, and create written reports for executive review.
• Ability to communicate clearly and concisely, orally and in writing.

Supervisory Responsibilities

• Team member has supervisory responsibilities.

Complexity & Scope of Work

• The team member performs a moderate number of routine and generally related tasks without supervisory direction.
• Instructions to the team member may be general or specific in nature.
• Courses of action are determined by established procedures and/or the Chief Legal Officer.
• The team member's work is reviewed periodically for accuracy, completion, and compliance with the policies and procedures.
• Tasks may occasionally have to be coordinated, integrated, and/or prioritized.

Physical Demands & Work Environment

• The physical demands and work environment characteristics described here represent those that must be met by a team member to successfully perform the essential functions of this position. Reasonable accommodations may enable individuals with disabilities to perform the essential functions.
• To perform this job successfully, the team member is frequently required to remain in a stationary position 50% of the time. Daily movements include sitting, standing, reaching, and grasping; operating computers and other office equipment; moving about the office; and attending possible onsite and offsite meetings. The team member must be able to exchange information in person, in writing, and via telephone. Some degree of stress results from contact with applicants, management, and other team members.
• The ability to observe details at close range (within a few feet of the observer).
• Must be able to occasionally lift items weighing up to 25 pounds across the office and load them onto shelves for various needs.
• The noise level in the work environment is usually moderate.
• Work involves the typical risks and discomforts associated with an office environment but is usually in an area that is adequately cooled, heated, lighted, and ventilated.

Minimum Qualifications

• Bachelor's degree in business, finance, legal studies, or a related field required.
• A graduate degree or Juris Doctor degree is preferred.
• Minimum seven (7) to ten (10) years of applicable experience with prior experience in auditing and/or the application of internal controls. One year of relevant work experience may be substituted for one year of required education.
• Proven experience in compliance management, preferably in the financial industry or credit unions.
• In-depth knowledge of financial regulations, consumer protection laws, and industry best practices.
• Must have or be able to obtain Credit Union Compliance Expert (CUCE) certification within one (1) year of hire
• Bondable

For All Candidates

This is a Full-Time, Salary(exempt) role.

Wellby is an equal opportunity and affirmative action employer and gives consideration for employment to qualified applicants without regard to race, color, religion, sex, national origin, age, disability, genetic information, sexual orientation, gender identity or expression, pregnancy, veteran status or any other legally protected characteristic. If you'd like more information about your EEO rights as an applicant under the law, please contact Human Resources.

Wellby provides equal opportunity to qualified individuals with disabilities and disabled veterans. If you need a reasonable accommodation, please email or call for assistance.

Disclaimer
The statements herein are intended to describe the general nature and level of work being performed by team members and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified. Furthermore, they do not establish a contract for employment and are subject to change at the discretion of the Company.