Regulatory Compliance Specialist (Durham) Position Available In Durham, North Carolina

Regulatory Compliance Specialist (Durham) 4.3 4.3 out of 5 stars 6 Moore Drive, Durham, NC 27703

Description:

The Regulatory Compliance Specialist will work closely with the Compliance AVP in the ongoing operations of the Compliance Program, identifying areas affected by regulatory changes, communicating and implementing changes, ensuring that the Credit Union is in compliance with all applicable laws and regulations. This position assists the Compliance Manager to build and develop procedure, product, and services reviews to ensure the Credit Union is in compliance with applicable state and federal financial laws and regulations. This role requires knowledge of the Credit Union’s core systems and a working knowledge of regulations impacting the Credit Union. This position is integral to the Credit Union’s Compliance Management System, which is designed to ensure overall compliance with applicable laws and regulations.

Essential Duties and Responsibilities:

Compliance Program Administration Assist the Compliance AVP to develop, administer and monitor a program that ensures compliance with all applicable laws, regulations, and rules governing operations and product offerings. Serve as one of the in-house contacts to provide compliance guidance to all Credit Union staff, addressing any compliance questions. Assist with the day-to-day review of incoming compliance related review requests received from Credit Union business units including, but not limited to, advertising materials, webpages, and employee training. Compliance Review, Monitoring and Audit Assist in the completion of a compliance risk assessment for business lines and products as assigned. Coordinate and lead full-scale compliance reviews and periodic compliance testing, monitoring, and preparation of reports detailing the review results of the Credit Union’s compliance practices. Assist with in-depth root cause analysis of compliance deficiencies and develop corrective action plans to remediate when appropriate. Assist in the review and development of new products and programs to ensure compliance throughout the product lifecycle, including reviewing the design, delivery, and implementation. Monitor and track proposed rules, regulatory guidance, and other regulatory changes and assess the impact on the Credit Union. Assist other Compliance management staff in partnering with business units for implementation of changes. Mentor and advise junior compliance staff on reviews, projects, and research matters. Prepare for and coordinate regulatory and internal audit compliance examinations and inform the Compliance Manager of audit results. Assist senior management in gathering information and providing support to respond to requests from regulators during regular examinations of the Credit Union. Manage and monitor the Complaint Management System in coordination with other departments. Compliance Communication and Training Develop, coordinate and facilitate regulatory compliance requirements and procedures training to educate credit union’s personnel. Assist with the development and maintenance of compliance tools and education training programs for the Credit Union’s business lines. Participate and draft all compliance related communication and ensure such communication is comprehensive, accessible, current and appropriate for all employees.

Requirements:

Four-year degree from an accredited institution with an emphasis in business preferred. 3 or more years of compliance-related experience in a highly regulated financial institution (preferably a credit union). Detailed knowledge of state and federal laws, and regulations affecting state- chartered, federally insured credit unions, banks, and other financial institutions (especially those promulgated by the National Credit Union Administration and Consumer Financial Protection Bureau), such as:

TILA, RESPA, HMDA, FCRA, FDCPA, SCRA, SAFE

Act, ECOA, TISA, Regulation

CC, EFTA, ESIGN, CDD

Rule, and UDAAP. Must have excellent analytical skills and the ability to conduct thorough research, interpret and understand laws and regulations and their impact on the Credit Union. Proficient in the use of all systems used by LCCU. Highest level of integrity is essential. Must be a well-organized, efficient, detail-oriented self-motivated individual with excellent communication skills, both written and verbal. Ability to handle simultaneously, multiple tasks and changing priorities in an efficient and effective manner. Must be able to work independently and can work well with others including all levels of management and credit union staff and maintain dedication to the Credit Union philosophy. The ability to speak Spanish is a plus. The above statements are intended to describe the general nature of work being performed by individuals assigned to this position. They are not intended to be an exhaustive list of all responsibilities, duties, knowledge, skills, and abilities required of individuals so classified.