The Target Pay Range for this position is $97,900-$119,600 annually. The full Pay Range is $76,100-$141,500 annually. At BECU, compensation decisions are determined using factors such as relevant job-related skills, experience, and education or training. Should an offer for employment be made, we will consider individual qualifications. In addition to your salary, compensation incentives are available for the hired applicant. Incentives are performance based and targets vary by role.
The Compliance Officer is responsible for providing creative and innovative regulatory compliance support for business units within the Credit Union. This person responds to compliance questions related to all facets of lending, deposits, payments, and operations. In responding to such questions, this position will interpret applicable laws and regulations in a consistent and supportable manner. The Compliance Officer will have and maintain a thorough knowledge of federal and state regulations to effectively research, prepare, implement, maintain, develop, and document the Credit Union’s compliance practices for new and existing financial products, services, and delivery systems.
- Perform all responsibilities in accordance with BECU Competencies, compliance, regulatory, and Information Protection requirements.
- Research, analyze, and interpret complex laws, regulations, related commentaries and guidance, and data. Compile, analyze, and present compliance research and make recommendations in a concise and easily understood manner.
- Develop and maintain a thorough knowledge of applicable federal and state lending laws, regulations, related guidance, and Credit Union policies and procedures to determine compliance with federal and state law.
- Have a working understanding of BECU’s operating policies and procedures and changes coming in the business plan to anticipate any compliance impacts.
- Actively participate in the development of compliance requirements and compliance user acceptance testing phases of projects.
- Provide regulatory and legal risk assessments of compliance issues and concerns and actively work with management and staff to resolve.
- Provide compliance support to business unit management and staff as they consider, plan, revise and implement new products, services, and practices.
- Engage in interactive and ongoing communication with business units as needed, to ensure a high degree of awareness of regulatory compliance requirements.
- Work closely with business unit Compliance Administrators and management to identify compliance training needs. Ensure training programs satisfactorily address regulatory compliance requirements.
- Participate in the development and revision of member contracts, agreements, disclosures, and forms, as well as develop change in terms to member agreements as needed.
- Review marketing materials and member communications pertaining to products and services to ensure compliance with applicable regulations.
- Complete assigned Compliance Risk Assessments in accordance with established standards, practices, and timelines.
- Perform additional duties as assigned.
- Bachelor’s degree in business or equivalent work or education-related experience required.
- Five years of compliance experience within a financial institution, or at a financial institution regulatory agency required.
- Specialized compliance experience in at least one of the following areas required: lending, deposits, payments, BSA/AML, privacy, digital, fintech, and/or marijuana related banking.
- CRCM (Certified Regulatory Compliance Manager) or NCCO (National Association of National Credit Union Certified Compliance Officer) designation preferred.
- Experience in project implementation and risk assessment required.
- Strong analytical and drafting skills.
- Excellent verbal and interpersonal skills to effectively communicate and ensure staff/member-related issues are handled in a fair, consistent manner.
- Excellent organizational skills, with the ability to complete assignments in a timely manner.
- Excellent conceptual, analytical and problem-solving skills to ensure compliance issues are resolved effectively.
- Proficient PC skills (Microsoft Office), with the ability to learn new software and to summarize and present data in an effective manner.
- Ability to identify regulatory requirements and guidelines applicable to new and revised products, services and practices.
- Experience with research, legal analysis, and report formatting preferred.
- Full-time hours required, with additional hours as necessary.