Compliance Counsel

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Compliance Counsel

The candidate will perform a variety of compliance-related functions, especially functions related to regulatory compliance. Work involves participating in a comprehensive compliance management plan, including provision of accurate, timely, and comprehensive counsel concerning laws, regulations, case law, and other legal authority impacting the Credit Union, implementation of new legal or regulatory requirements, providing comments on proposed rules, and working with business units to ensure compliance with applicable laws and regulations. Conduct complex research involving determination of applicable and pertinent laws, regulations, case law, and other legal authority, and use results of research to identify issues and make strategic recommendations. Monitor and review new laws, regulations, case law, and other legal authority, identifying and summarizing relevant issues, necessary action, and applicable deadlines. Assist in the identification and evaluation of the organization’s compliance risk areas and provide input to the development of the ongoing compliance management program. Perform various compliance procedures, including identifying and defining issues, developing criteria, reviewing and analyzing current processes and procedures, and documenting the credit union’s regulatory compliance processes. Assist in reviewing the Credit Union's regulatory compliance program and serves as a resource for compliance questions and issues that may arise from various areas throughout the Credit Union. Stay informed of all laws, regulations, and other information that affect the Credit Union’s operations; determines whether internal controls are adequate to ensure compliance with Credit Union goals, objectives, policies, procedures, and applicable laws/regulations while maintaining economical and efficient use of resources. Identify, develop, and document compliance issues and prepare recommendations for improvement; discuss deficiencies, recommend corrective action, and suggest improvements in operations to achieve organizational efficiencies and maintaining regulatory compliance. Participate in project meetings to provide the compliance perspective to the development of new products and services, or the modification of existing products and services. Assist in collaboration with law firms/outside counsel concerning applicable laws, regulations, case law, and other legal authority. Assist in communicating the results of compliance and consulting projects via written reports and oral presentations on a timely basis to management, the President/CEO, the Supervisory Committee, and the Board of Directors. Develop compliance resources and contributes to compliance training materials. Assist with training staff and the Board of Directors regarding compliance regulations. Prepare and gather information for internal and external audits and NCUA Examinations. Perform related work as assigned by the Compliance Manager, VP of Compliance, and/or Chief Risk Officer. Pursue professional development opportunities, including external and internal training and professional association memberships, and shares information gained with co-workers. Maintain productive team-oriented client, staff, and management relationships through individual contacts and group meetings. Work outside of normal business hours may occasionally be necessary to complete projects and department objectives. Identify opportunities for gaining efficiencies through the use of technology, and communicate those opportunities to the Compliance Manager, VP of Compliance, and/or Chief Risk Officer. Participate in training activities within the department and with the Learning and Talent Development department; such training helps to ensure staff compliance with Credit Union policies and state and federal regulations and laws. Training activities may also include occasional conference attendance. Perform other duties and assist other employees, as assigned. Assist and mentor team members with less experience in expert areas. Performs all tasks consistently and effectively. Law degree (JD) and bar membership is required. Should have 1-5 years of experience interpreting laws and regulations governing a heavily regulated industry is preferred, with further preference for individuals with experience with the laws and regulations related to consumer financial services (i.e., accounts, lending, etc.). Should have 5+ years of experience interpreting laws and regulations governing a heavily regulated industry is preferred, with further preference for individuals with experience with the laws and regulations related to consumer financial services (i.e., accounts, lending, etc.). In-house operational experience at a credit union or other financial institution is preferred. Relevant compliance certifications, or active pursuit of such designations, is preferred. Considerable knowledge of industry program policies, procedures, regulations, and laws. Knowledge of regulatory compliance, financial crimes, and fraud related issues affecting Credit Unions is required. Knowledge of management information systems terminology, concepts, and practices is required. Knowledge of industry program policies, procedures, regulations, and laws is required.

Additional Information

Requisition Number: COMPL003130

Company info

MSU Federal Credit Union
600 Crescent Road
East Lansing
Michigan
United States 48823
Website : https://www.msufcu.org/