Risk and Compliance Manger

Position: Risk and Compliance Manager

FLSA Classification: Exempt

Supervision Responsibilities: Risk Analyst

Salary Range: $90,835.58 to $136.253.38 DOE

Description

Founded in 1958, Foothill is a not-for-profit, member-owned, $720 million-strong cooperative financial institution serving more than 30,000 members. We focus on providing quality member service to our 300+ SEGs, including six hospitals, fourteen school districts, two colleges, seventeen private schools, businesses, and municipalities in the San Gabriel Valley.

Serving our members with excellence and exceeding expectations is at the forefront of our business, and we can happily share that Foothill has been ranked a five-star financial institution by Bauer Financial. Bauer only recommends institutions with four- and five-star ratings. We are amongst the highest of our peers.

Foothill Credit Union is a community advocate and strives to partner with other businesses and organizations dedicated to community involvement. We often participate in events and fundraising efforts benefiting the schools and organizations we serve to give back to our members and community.

Awards

CUNA 2021 Member Benefits Top Performance for delivering a direct benefit of $690 per member household.

Benefits:

We offer a competitive compensation package, including benefits such as health, dental, and vision insurance, vacation time off, retirement plans, and professional development opportunities.

Health Insurance Coverage (Medical, Dental, and Vision)

401(k) Plan with dollar-for-dollar match (up to 6%)

Profit-Sharing Plan

Flexible Spending Account

Life and AD&D Insurance

Paid Time-Off Program

Educational Reimbursement Program

Paid Holidays

Special Recognition Programs

Referral Program

Foothill Credit Union is an Equal Opportunity Employer and does not discriminate against any team member or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity, status as a veteran, and basis of disability or any other federal, state or local protected class.

Summary: This position is the risk management, compliance, security, and Bank Secrecy Act/OFAC officer for the credit union and the internal auditor. Additionally, this position will be responsible for:

COMPLIANCE: Responsible for developing, implementing, and maintaining compliance programs that empower the credit union to take appropriate risks while mitigating unacceptable risks.

AUDIT: Responsible for conducting internal audits and engaging outside independent audits in business areas predetermined annually with an approved audit plan; compile, issue, and report detailed conclusions and provide recommendations for improvement to management and the Supervisory Committee.

SECURITY: Partner with the leadership team, especially the Chief Technology Officer, to ensure the credit union's written security program is appropriate and addresses Section 748.0 of the NCUA's Rules and Regulations. The program is designed to protect credit union assets and the confidentiality of member records.

BSA/OFAC: Responsible for the day-to-day reporting and record-keeping requirements and will perform internal compliance reviews and coordinate outside independent reviews based on a pre-approved annual audit plan.

Essential Duties and Responsibilities:

· Implement, manage, direct, and oversee the auditing, compliance, and security programs.

· Review and appraise the soundness, effectiveness, and proper application of accounting and financial controls, compliance procedures and controls, and the timeliness of documentation generation

· Serve as a liaison to the Supervisory Committee and all external audit and regulatory agencies

· Responsible to inform the Supervisory Committee Chair unilaterally with senior management on any fraud-related investigation or possible impropriety findings

· Responsible for the credit union’s compliance with all applicable laws, rules, policies, and procedures (HMDA, BSA, Safe Act, Truth in Savings, etc.)

· Prepare policies and procedures for compliance issues; conduct periodic reviews of existing policies and procedures to ensure accuracy, efficiency, and effectiveness

· Review branch policies and procedures to verify appropriate implementation, including oversight of opening and closing procedures, ATM and night depository procedures, night balancing, and cash protection

· Assume responsibility for developing and recommending training programs and manuals that assist in loss prevention, compliance, and regulatory changes; assist with in-house related training programs

· Prepare and deliver assigned reports in a timely, accurate manner. This includes an enterprise-wide risk scorecard aggregated from multiple business units’ input

· Responsible for reviewing compliance-related operations and reports (Safe Act, BSA, FinCen, etc.)

· Responsible for verifying the effective and accurate performance of financial and operational audits

· Responsible for establishing and maintaining effective communication and coordination with area personnel, management and the Supervisory Committee

· Perform audits of financial accounting functions, operational functions, real estate, consumer and business loans, information systems, and other areas as assigned

· Ensure, coordinate, and conduct surprise cash counts involving teller balancing, branch cash, and reviewing cash controls and security

· Performs various audit functions, including balancing, reconciling, verifying, sampling, confirming, evaluating, and reviewing credit union products and services such as member accounts, dormant accounts, fees charged, overdrafts, etc.

o Interview credit union personnel to gather information and determine conformity with established procedures

o Examine books, records, procedures, performances, and controls for fraud, errors, or deficiencies

o Select a random statistical sampling for confirmations. Reviews and verifies new loans, collateral files, extensions, problem and delinquent loans, and file and document maintenance. Reviews loan authority, collateral perfection, and conformity with credit union policies and government regulations

o Examines investment and financial portfolios to determine conformity with established policies, standards, and legal requirements

o Identifies and reports discrepancies, errors, and other detected problems

· Develop new or improved audit programs as requested. Assists in developing audit procedures and makes recommendations regarding what is to be audited, the methods to be used, and the frequency of the audits

· Develop and present an annual audit plan to the Supervisory Committee

· Recommends and engages outside independent audits in areas such as IT, BSA, finance and accounting, consumer and commercial lending

· Maintain appropriate levels of confidentiality

· Assume responsibility for related functions; fill in and perform duties in the department as needed; perform other duties as assigned

Education/Experience Requirements:

· Bachelor’s degree in Business Administration, Accounting, Finance, or related field; or equivalent combined education and work experience of a minimum of seven years of work-related experience plus a minimum of five to eight years of experience in a related regulatory compliance position is required.

Desirable certifications in the following areas:

· Credit Union Compliance Expert of similar designation

Other Skills and Abilities:

· Demonstrated ability to prepare clear and concise written recommendations

· Demonstrated project management skills with successful implementation

· Must possess effective verbal and written communication skills

· Must have advanced knowledge and experience with Windows, Word, Excel and other computer applications

· Thorough knowledge of applicable federal and state financial regulations

· Understanding of IT, loan procedures, and documentation requirements

· Solid analytical and problem-solving skills

· Attention to detail and highly observant

· Creative and able to develop innovative solutions to complex issues

· Work remotely without onsite supervision; regularly travel within the branch network

· A valid California Class C Driver's License, a method of transportation when needed

to carry out job-related essential functions and at least minimum automobile insurance coverage as required by the State of California