General Summary (What is done and why)
The position of Senior Regulatory Compliance & Legal Counsel is responsible for ensuring the Credit Union is in full compliance with all banking laws, regulations, and internal policies and procedures. This individual serves as the advisor to the Director of Regulatory and Legal and Credit Union staff in the areas of compliance and legal review and makes recommendations to reduce exposure to regulatory compliance and legal risks.
Essential Functions, in Priority Order (Majority of duties, but not meant to be all inclusive or prevent other duties from being assigned as necessary.)
- Perform legal and compliance research, monitor state and federal regulatory and legal development, and provide advice to UFCU operating units. Time: 40%
- Manage the Enterprise Risk Management (“ERM”) program, including managing ERM guidelines, department-specific risk monitoring and reporting, and producing periodic board reporting, all in accordance with ERM policy. Report generation includes establishing the level of reporting necessary, compilation of multiple sources of internal and external market risk tracking, and measurement throughout the Credit Union, and modifying based on a changing economic and regulatory environment. Time: 20%
- Manage the development and implementation of legal and compliant products and procedures on an on-going basis. This includes leading a team of operating unit representatives to prepare for a regulatory change; product and service development; or the development, coordination, and implementation of compliance-related audit work by internal or external sources. Time 15%
- Draft and complete more complex compliance and legal-related Risk Assessments (such as BSA, fair lending, etc.), Compliance Alerts, and similar documents to assess risks posed by operations; support the Director of Regulatory and Legal in presenting material risks identified to senior management, as warranted. Time 15%
- Draft and review (under the guidance of the Director of Regulatory and Legal) necessary product, service and vendor agreements as identified to the Risk Department. Time 5%
- Perform other duties as assigned and escalate matters to the Director of Regulatory and Legal and the Credit Union’s outside counsel as necessary. Time: 5%
Education (Minimum education required to perform the duties of this position)
- A Juris Doctor (J.D.) degree from an ABA-accredited law school required.
- Must hold a current license to practice law.
- A bachelor's degree in accounting, finance or business-related field preferred.
Experience (Minimum experience required to perform the duties of this position)
In addition to the education requirement:
- Financial institution experience of at least five years with direct experience in interpretation of financial regulations and compliance essential.
- CRCM, NCCO or CUCE certification helpful.
Knowledge, Skills and Abilities (Minimum technical and communication skill levels and licenses/certificates normally required to perform the duties of this position)
- The ability to interface with a wide variety of contacts including senior management, other Credit Union employees, and outside attorneys.
- Agility to address diverse compliance and legal issues on a day-to-day basis with timeliness, thoroughness and accuracy.
- Strong interpersonal, leadership, negotiating, consulting, analytical and problem-solving abilities.
- Demonstrated in depth knowledge of financial institution risk management.
- Proficiency in the use of spreadsheets and ERM software and reporting.
- Accuracy in compiling data with attention to details.
- Excellent written and oral communication skills to provide actionable information clearly and effectively, including listening and presentation skills.
- Strong organizational skills with the ability to handle multiple, high-priority projects with a keen attention to detail.
- Strong work ethic and ability to multi-task, prioritize and follow-through on numerous projects.
- Demonstrate the ability to think strategically and creatively, understand business plans and goals, and relate those business plans and goals to compliance and legal strategies.
- Ability to provide a high degree of member-focused service to support operating units.
- Problem Solving
- Dealing with Ambiguity
- Time Management
- Demonstrates Courage
- Drive for Results
- Interpersonal Savvy
- Customer Focus
- Integrity and Trust
- Business Acumen
Working Relationships/Contacts (Positions with which incumbent has frequent contact)
- Daily, personal/written/phone contact with Credit Union staff
- Daily, personal/written/phone contact with department managers
Physical Demands (Physical effort generally associated with this position)
Work involves standing and walking for brief periods of time, but most work is done from a seated position. A great deal of time spent on computer. Deadlines, workloads and pressure to achieve goals may cause increased stress levels.
Working Conditions (Typical working conditions associated with this type of work and environmental hazards, if any, that may be encountered in performing the duties of this position.)
Internal – Work is normally performed in climate controlled office environment, where exposure to conditions of extreme heat/cold, poor ventilation, fumes and gases is very limited. Noise level is moderate and includes sounds of normal office equipment (computers, telephones, etc). No known environmental hazards are encountered in normal performance of duties. Length of day is unpredictable; extended hours may be required.
External – Some travel is required as it pertains to branch operation examinations and other off-site training.
St. Joseph, Michigan, United States