Kinecta FCU
Mgr., Compliance Sr - South Bay
Kinecta FCU, Manhattan Beach, California, United States, 90266
GENERAL SUMMARY:
This position is responsible for helping to execute the Credit Union's written Compliance Program and day-to-day management of the Regulatory team. Manages key elements of the Compliance Management System (CMS) including the analysis and communication of laws, regulations, and rules governing consumer lending/servicing, deposits and other ancillary product development to applicable business unit(s). Responsibility for ongoing compliance advisory in the implementation and maintenance of all products and services offered by the Credit Union. Monitoring regulatory deadlines for compliance with new/updated reporting requirements; interpreting guidance from federal and state regulators; and helping to ensure Credit Union adherence with all applicable federal and state laws and regulations.
NATURE AND SCOPE OF POSITION:
The Sr. Compliance Manager works with a minimal amount of supervision and direction and is authorized to take the reasonable actions necessary to carry out the assigned responsibilities of the position, provided that such action is consistent with the policy and procedures of Kinecta Federal Credit Union. This role leads the Regulatory Compliance team and reports functionally to the Vice President of Enterprise Compliance.
SUPERVISORY RESPONSIBILITIES:
The position supervises the daily work of all employees within the Regulatory Compliance team, including assignment of daily work, monitoring overall performance and the timely completion of work assignments or projects. This role will involve regular collaboration with other business units on enterprise-wide projects needed to fulfill the Credit Union's CMS obligations.
ESSENTIAL DUTIES AND RESPONSIBILITIES: Responsibility for reviewing new and modified agency rulemaking (NCUA, CFPB, FHFA, IRS, FFIEC, etc.)) pertaining to member deposits, consumer lending, residential lending, servicing, and collections. Promptly communicates any regulatory requirements to the affected business unit(s), and VP of Enterprise Compliance following an analysis of the regulatory impact to the Credit Union. Continually monitors the Credit Union, and its subsidiaries', regulatory compliance status, with regular communication on the operational impact to the VP of Enterprise Compliance. Manages the Regulatory team's approval of marketing materials and department policies and procedures (P&Ps) submitted for review. Supports the VP of Enterprise Compliance in reviewing and updating required compliance training content for employees annually or as needed. Helps oversee the monthly review of member complaints on behalf of the department for applicable regulatory impact as well as issuing reports on the status of any corrective action. Development of the Credit Union's CMS controls as it relates to consumer compliance, including annual HMDA reporting, regulatory advisory and fair lending analysis. Acts as a subject matter expert to Credit Union personnel for questions regarding regulatory issues on daily operations and development of new products and services; escalates potential regulatory risks as needed. Works with the Legal Department as needed to ensure that the Regulatory team accurately conveys any legal/regulatory requirements for all disclosures related to products and services. Manages the Credit Union's Policy and Procedure (P&P) repository and Forms Library, ensuring that any required updates are communicated to the respective Department Head, reviewed for regulatory compliance and tracked accordingly. Acts as one of the department representatives to ensure effectiveness of compliance controls prior to any system or new product release. Makes recommendations for improving compliance controls and, where needed, participates on the implementation of such controls. Responsibility for ensuring fees charged in conjunction with loans, deposits and ancillary products are within statutory and regulatory guidelines. Supports the Vice President of Enterprise Compliance and Chief Risk Officer as needed, including acting as a point of contact for the department during NCUA exams, internal audit, and leaves of absence. NON-ESSENTIAL DUTIES AND RESPONSIBILITIES:
Performs other duties as assigned.
MINIMUM QUALIFICATIONS
Knowledge, Skills and Abilities: Thorough knowledge and understanding of consumer compliance and regulatory requirements applicable to retail banking, lending and servicing, including:
Federal Credit Union Act and NCUA Rules Federal financial regulations (e.g., Regulation CC, Regulation D, Regulation E, ADA, ECOA, E-Sign, FDCPA, FCRA, HMDA, MLA, RESPA, SCRA, TCPA, TISA, TILA, and Bankruptcy Procedure). Knowledge of applicable state consumer lending, servicing, and collections laws Federal and state privacy laws (e.g., GLBA, CalFIPA, CCPA)
Strong working knowledge of financial services operations, including deposit compliance, lending, loan servicing, and advertising compliance. Ability to cope with rapidly changing regulatory environment on a federal and state level. Excellent oral and written communication skills with the ability to work autonomously and proactively collaborate with other departments in resolving regulatory issues or risks. Ability to manage complex assignments independently while also balancing supervisory responsibilities of the Regulatory Compliance team. Experience in researching and assessing applicable laws, rules and regulations. Attention to detail and project planning skills. Education, Training and Experience:
Potential candidates for this position must meet the following requirements:
This is a senior manager role so management experience working in the financial services industry and directing the daily and strategic activities of other employees is mandatory. At least seven years of regulatory experience in consumer compliance, commercial lending or residential lending, preferably for a federally insured bank or credit union. Certification in compliance or internal audit from a reputable financial services, banking or professional service organization (e.g., ACU, NAFCU, CUNA, ICBA, ABA, IIA). Bachelor's degree in finance, Business, Accounting, Economics, Political Science, Criminal Justice or related field. Experience interacting in person with federal financial regulators and industry trade association officials. Experience working with internal auditors and managing the audit deliverable process. Project management experience, either leading projects or serving as a key stakeholder. Familiarity with state insurance requirements and federal securities laws. Experience as outlined may be substituted for education on a year-for-year basis.
Employee must adhere to all compliance regulations in the strictest manner during the performance of their job duties.
WORKING CONDITIONS:
The working environment is generally favorable. Lighting and temperature are adequate, and there are no hazardous or unpleasant conditions caused by noise, dust, etc. The job may require flexibility with regards to scheduling days, hours, and work location, depending on business needs. The job is typically sedentary but may require standing and walking up to 35% of the work time to transfer files, ask questions, and related activities. Occasional travel to work sites or other sites for industry events.
PHYSICAL ABILITIES, MENTAL DEMANDS, AND WORK ENVIRONMENT
Individual should be able to exercise sound judgment, be able to plan, be well organized, have excellent oral and written communications skills, work well under pressure, take the initiative, and be flexible and cooperative. The individual should also be accurate, timely, and respect confidentiality concerning employee information and company records.
While performing the job duties of this position, the employee is regularly required to sit; talk or hear in person and by telephone; use hands to operate standard office equipment; reach with hands and arms; lift minimum 10 lbs.
The employee is frequently required to walk and stand. Specific vision abilities required by this job include close vision and the ability to adjust focus to read and operate office equipment as necessary during the course of the work assignments.
The employee works under typical office conditions and noise levels.
Disclaimer:
The above information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
This position is responsible for helping to execute the Credit Union's written Compliance Program and day-to-day management of the Regulatory team. Manages key elements of the Compliance Management System (CMS) including the analysis and communication of laws, regulations, and rules governing consumer lending/servicing, deposits and other ancillary product development to applicable business unit(s). Responsibility for ongoing compliance advisory in the implementation and maintenance of all products and services offered by the Credit Union. Monitoring regulatory deadlines for compliance with new/updated reporting requirements; interpreting guidance from federal and state regulators; and helping to ensure Credit Union adherence with all applicable federal and state laws and regulations.
NATURE AND SCOPE OF POSITION:
The Sr. Compliance Manager works with a minimal amount of supervision and direction and is authorized to take the reasonable actions necessary to carry out the assigned responsibilities of the position, provided that such action is consistent with the policy and procedures of Kinecta Federal Credit Union. This role leads the Regulatory Compliance team and reports functionally to the Vice President of Enterprise Compliance.
SUPERVISORY RESPONSIBILITIES:
The position supervises the daily work of all employees within the Regulatory Compliance team, including assignment of daily work, monitoring overall performance and the timely completion of work assignments or projects. This role will involve regular collaboration with other business units on enterprise-wide projects needed to fulfill the Credit Union's CMS obligations.
ESSENTIAL DUTIES AND RESPONSIBILITIES: Responsibility for reviewing new and modified agency rulemaking (NCUA, CFPB, FHFA, IRS, FFIEC, etc.)) pertaining to member deposits, consumer lending, residential lending, servicing, and collections. Promptly communicates any regulatory requirements to the affected business unit(s), and VP of Enterprise Compliance following an analysis of the regulatory impact to the Credit Union. Continually monitors the Credit Union, and its subsidiaries', regulatory compliance status, with regular communication on the operational impact to the VP of Enterprise Compliance. Manages the Regulatory team's approval of marketing materials and department policies and procedures (P&Ps) submitted for review. Supports the VP of Enterprise Compliance in reviewing and updating required compliance training content for employees annually or as needed. Helps oversee the monthly review of member complaints on behalf of the department for applicable regulatory impact as well as issuing reports on the status of any corrective action. Development of the Credit Union's CMS controls as it relates to consumer compliance, including annual HMDA reporting, regulatory advisory and fair lending analysis. Acts as a subject matter expert to Credit Union personnel for questions regarding regulatory issues on daily operations and development of new products and services; escalates potential regulatory risks as needed. Works with the Legal Department as needed to ensure that the Regulatory team accurately conveys any legal/regulatory requirements for all disclosures related to products and services. Manages the Credit Union's Policy and Procedure (P&P) repository and Forms Library, ensuring that any required updates are communicated to the respective Department Head, reviewed for regulatory compliance and tracked accordingly. Acts as one of the department representatives to ensure effectiveness of compliance controls prior to any system or new product release. Makes recommendations for improving compliance controls and, where needed, participates on the implementation of such controls. Responsibility for ensuring fees charged in conjunction with loans, deposits and ancillary products are within statutory and regulatory guidelines. Supports the Vice President of Enterprise Compliance and Chief Risk Officer as needed, including acting as a point of contact for the department during NCUA exams, internal audit, and leaves of absence. NON-ESSENTIAL DUTIES AND RESPONSIBILITIES:
Performs other duties as assigned.
MINIMUM QUALIFICATIONS
Knowledge, Skills and Abilities: Thorough knowledge and understanding of consumer compliance and regulatory requirements applicable to retail banking, lending and servicing, including:
Federal Credit Union Act and NCUA Rules Federal financial regulations (e.g., Regulation CC, Regulation D, Regulation E, ADA, ECOA, E-Sign, FDCPA, FCRA, HMDA, MLA, RESPA, SCRA, TCPA, TISA, TILA, and Bankruptcy Procedure). Knowledge of applicable state consumer lending, servicing, and collections laws Federal and state privacy laws (e.g., GLBA, CalFIPA, CCPA)
Strong working knowledge of financial services operations, including deposit compliance, lending, loan servicing, and advertising compliance. Ability to cope with rapidly changing regulatory environment on a federal and state level. Excellent oral and written communication skills with the ability to work autonomously and proactively collaborate with other departments in resolving regulatory issues or risks. Ability to manage complex assignments independently while also balancing supervisory responsibilities of the Regulatory Compliance team. Experience in researching and assessing applicable laws, rules and regulations. Attention to detail and project planning skills. Education, Training and Experience:
Potential candidates for this position must meet the following requirements:
This is a senior manager role so management experience working in the financial services industry and directing the daily and strategic activities of other employees is mandatory. At least seven years of regulatory experience in consumer compliance, commercial lending or residential lending, preferably for a federally insured bank or credit union. Certification in compliance or internal audit from a reputable financial services, banking or professional service organization (e.g., ACU, NAFCU, CUNA, ICBA, ABA, IIA). Bachelor's degree in finance, Business, Accounting, Economics, Political Science, Criminal Justice or related field. Experience interacting in person with federal financial regulators and industry trade association officials. Experience working with internal auditors and managing the audit deliverable process. Project management experience, either leading projects or serving as a key stakeholder. Familiarity with state insurance requirements and federal securities laws. Experience as outlined may be substituted for education on a year-for-year basis.
Employee must adhere to all compliance regulations in the strictest manner during the performance of their job duties.
WORKING CONDITIONS:
The working environment is generally favorable. Lighting and temperature are adequate, and there are no hazardous or unpleasant conditions caused by noise, dust, etc. The job may require flexibility with regards to scheduling days, hours, and work location, depending on business needs. The job is typically sedentary but may require standing and walking up to 35% of the work time to transfer files, ask questions, and related activities. Occasional travel to work sites or other sites for industry events.
PHYSICAL ABILITIES, MENTAL DEMANDS, AND WORK ENVIRONMENT
Individual should be able to exercise sound judgment, be able to plan, be well organized, have excellent oral and written communications skills, work well under pressure, take the initiative, and be flexible and cooperative. The individual should also be accurate, timely, and respect confidentiality concerning employee information and company records.
While performing the job duties of this position, the employee is regularly required to sit; talk or hear in person and by telephone; use hands to operate standard office equipment; reach with hands and arms; lift minimum 10 lbs.
The employee is frequently required to walk and stand. Specific vision abilities required by this job include close vision and the ability to adjust focus to read and operate office equipment as necessary during the course of the work assignments.
The employee works under typical office conditions and noise levels.
Disclaimer:
The above information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.