Compliance Analyst

As a leader in the industry, Suffolk Credit Union is about more than just banking. We are about empowering people.

As the Compliance Analyst you will be responsible for Monitoring federal and state regulations and compliance trends, including but not limited to the Bank Secrecy Act (BSA), mortgage lending regulations (SAFE Act), record retention, determine how changes and trends may affect the credit union and facilitates the implementation of actions to reduce risk and remain compliant.

Responsibilities:

• Monitors federal and state regulations and compliance trends, including but not limited to the Bank Secrecy Act (BSA), mortgage lending regulations (SAFE Act), records retention, determines how changes and trends may affect the credit union and facilitates the implementation of actions to reduce risk and remain compliant.
• Researches and implements regulatory changes affecting compliance and risk
• Updates regulation manuals for the credit union, including but not inclusive to: BSA, safety, business resumption, records retention, SAFE Act, red flag and identity theft, and vendor due diligence aligning with regulations, laws, best practice and organizational strategies
• Develops and administers risk assessments, compiling data, identifying risk, mitigating factors and contingencies reporting results to the VP - Risk Management.
• Oversee S.A.F.E Act-NMLS registration process for new hires, changes, terminations, and performs annual reviews.
• Liaise with legal counsel and credit union business units on legal issues.
• Administers the member complaint management program ensuring all issues are addressed in a timely manner and compliant with applicable law.
• Serves as a subject matter expert for all compliance areas and responds to inquiries from internal and external sources.
• Completes and/or coordinates special projects assigned by management staff
• Ensure all lines of business are aware and understand proposed, updated and new regulation, laws, guidance and letters applicable to their areas of responsibility.
• Reviews all channels of marketing and website advertising material for compliance with all applicable laws, regulations, and best practices.
• Administer the vendor management program, ensuring all required due diligence items are completed by each vendor owner and information within the vendor management system is accurate and up to date.
• Assist in enterprise risk management activities.
• Backs up other departmental staff as necessary
• Accomplishes the credit union's mission by completing relevant duties as needed when requested by management or other staff members

Essential Qualifications:

• Knowledge of federal and state regulatory environments affecting credit unions, such as Bank Secrecy Act, Secure and Fair Enforcement (SAFE) in Mortgage Licensing Act, NCUA marketing standards, etc.
• Knowledge of risk analysis techniques and theories, with a proficient understanding of regulatory environments affecting the financial industry
• Knowledge of financial industry operations
• Knowledge of credit union products, services, policies, regulations and procedures
• Demonstrated skill in preparing audits work papers
• Demonstrated computer and software skills
• Advanced skill with using and analyzing data with spreadsheet software
• Intermediate mathematical and accounting skills
• Ability to handle multiple and complex deadlines
• Ability to express oneself clearly and articulately both orally and in writing
• Skill in gathering, analyzing and compiling complex financial and statistical data
• Skill with independent problem-solving
• Ability to exercise tact and responsibility with handling confidential information
• Ability to work with general supervision of daily activities

Education Requirement:

Associate's degree; Bachelor's degree preferred

Substitution: Equivalent work experience beyond a high school diploma may be substituted for the Associate's degree requirement on a year-by-year basis.

Years of Experience Requirement: Three to five years of compliance, auditing or risk management experience in a financial institution required.

Certifications or Licensure Required: Compliance Officer Certification or similar (CUCE, CRCM, BSACS etc.) required (or obtained within two years of hire)

Apply today and discover a rewarding career! We offer competitive salaries, great benefits, and most importantly the opportunity to make a difference.

Suffolk Credit Union provides equal employment opportunities to all applicants and prohibits discrimination of any type on the basis of actual or perceived race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth and pregnancy-related conditions), gender identity or expression (including transgender status), sexual orientation, marital status, military service and veteran status, physical or mental disability, genetic information or any other characteristic protected by applicable federal, state or local laws.

The compensation range provided is in compliance with state specific laws. Factors that may be used to determine your actual rate of pay include your specific skills, years of experience, and other qualifications.