Patelco Credit Union

  • Manager, Compliance

    Job Locations US-CA-Pleasanton
    Req No.
    2019-3191
    Category
    Risk Management
    Type
    Regular Full-Time
  • Overview

    The Manager, Compliance ensures an effective implementation, maintenance and administration of the Credit Union’s Compliance Program. The role coordinates and performs risk assessment and monitoring activities to ensure that the Compliance Program remains current and is aligned with regulatory requirements.  The role works closely with all business groups to ensure regulatory and fiduciary obligations are met.  To effectively achieve compliance goals, the Compliance Manager maintains current knowledge of regulatory requirements and developments, monitors risk, identifies and corrects possible gaps and weaknesses.  This role advises the lines of business/management on implications of new regulatory policies, Credit Union products, and assists in the implementation of new or revised policies and programs to address them. The role develops and maintains compliance information for analysis and reporting.

    Responsibilities

    Line of Business (LOB) Compliance Program Execution and Monitoring

    • Coordinate and perform ongoing risk assessments and compliance reviews to ensure compliance policies and risk/controls are operating appropriately. Create analyses of risk assessments for LOB business group(s). Identify and analyze factors which may affect risk mitigation and compliance with applicable regulatory requirements.
    • Anticipate potential consequences of unaddressed risk factors or shortfalls in compliance and recommend appropriate controls. Continually challenge LOB staff through ongoing dialogue and discussion to identify opportunities to implement more effective compliance-related policies and procedures.
    • Elevate high profile or high risk cases to the Risk Group and LOB management to ensure visibility and prompt resolution.
    • Perform ongoing validation of monitoring strategies to ensure appropriate governance and control. Identify observations of trends and recommendations to optimize data.
    • Execute appropriate testing and analyze key performance indicators to ensure requirements of the LOB policies and programs are maintained at a level commensurate with regulatory expectations. Support root cause analysis in response to material control failures in line(s) of business
    • Prepare complete, accurate documentation of compliance monitoring and surveillance activities. Report findings to the Risk Group and LOB management and provide timely follow-up on outstanding issues.
    • Validate that issues identified through compliance monitoring and review processes are promptly addressed. Ensure that management remediation plans are adequate.
    • Provide guidance to less experienced Compliance team members in developing and implementing solutions.

    Regulatory Consultation  

    • Provide advisory services on compliance matters to LOB management and staff (first line of defense). Work proactively with business line contacts and management toward ensuring that effective and efficient compliance risk management solutions are identified and implemented.
    • Review various forms, disclosures and advertisements for compliance with applicable requirements.
    • Consult on new products, services and automated systems to assist the LOB(s) with incorporating compliance requirements into these initiatives.

    Regulatory Governance  

    • Develop and maintain a high level of expertise in all regulations, directives and guidance which apply to the LOB Compliance group(s) supported.
    • Provide input to LOB Compliance and LOB staff regarding emerging issues and interpretation of regulations.
    • Identify training needs based on gaps identified through the compliance monitoring process.
    • Identify possible enhancements to LOB Compliance tools and processes and communicate them to the Risk Group management.
    • Assist LOB management and staff in communicating and implementing changes to applicable regulatory policies and procedures.
    • Represent the LOB Compliance team and interact with examiners and auditors during internal, external and regulatory audits and examinations.
    • Provide regulatory perspective on appropriateness of LOB sales and marketing materials.

    Other Responsibilities   

    • Monitor regulatory developments (proposed and pending regulations). Provide comments letters with input from the LOB on pending regulations to the appropriate regulatory body.
    • Track potential lawsuits (all non HR) and coordinate with outside counsel.
    • Provide monthly reporting to the Chief Risk Officer on all compliance activities during the month.

    Qualifications

    Qualifications: 

    • Bachelor’s degree required.  Recognized compliance certification or equivalent a plus.
    • Minimum of 10 years of experience in compliance.
    • Ability to effectively communicate the roles and importance of each of the three lines of defense, as well as proactively identifying regulatory risk.
    • Ability to demonstrate solid judgment, problem solving, and independent decision making skills
    • Ability to apply knowledge and experience to develop solutions in partnership with senior leaders of the credit union
    • Ability to gather and skillfully analyze information and make recommendations to business partners
    • Effectively communicates internally and externally; assist in communications and presentations with senior management, committees, and other financial institutions.
    • Effectively collaborates with others to achieve organizational goals.
    • Effective planning and organizing skills to deliver workload in timely manner.
    • Self-motivated and ability to adhere to deadlines

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