Compliance Officer, Finance & Banking

Job Location

Corporate Office - Rapid City, SD 57702

Banking

We have the fundamental belief that we, as an organization, can and will improve lives. Rooted in the centuries-old credit union philosophy of people helping people, we maintain a simple premise. Those we interact with will receive equal and just treatment, devoid of intolerance, false judgment, racism, or discrimination of any kind. We must not accept less if we are to fulfill our mission, “We Improve Lives.”

This mission empowers us to serve the greater good and to make a difference in our world. Our cooperative structure creates a cycle of mutual assistance towards the common goal of the financial well-being of members.

At Black Hills Federal Credit Union (BHFCU), we’re committed to improving the lives of our members every day, and we look for people who share that passion. Don’t have a ton of financial industry experience? No problem. Our onboarding includes an orientation program with ongoing training to help staff further their career at BHFCU by building on their existing strengths.

The Compliance Officer is primarily responsible for ensuring our company complies with various federal and state compliance areas including, but not limited to, Fair Lending laws, NCUA Regulations, HMDA, Truth-in-Savings Act, Truth-in-Lending Act, RESPA, FCRA, etc. This position will work closely with Business Unit Leadership Teams to provide expertise and recommendations.

• Provide thoughtful and risk-based regulatory expertise in response to business initiatives, line of business guidance requests, internal and external audits, and regulatory examinations.
• Develop and implement compliance policies and procedures. Ensure compliance with existing processes and procedures and recommend new ones that most effectively anticipate, manage, and reduce risk to the business.
• Develop and communicate recommendations that support adherence to regulations, industry best practices and/or the compliance program.
• Assist in developing compliance training programs for staff.
• Complete and review risk assessments to identify areas of compliance risk exposure, prioritize compliance risks, and enhance internal controls.
• Assess compliance issues presented through new/revised product and service offerings and work closely with lines of business and the Compliance Manager to plan a response.
• Review BHFCU forms, disclosures, member publications, advertisements, etc. to ensure compliance with regulations.
• Work with business units and the Compliance Manager to design a plan for timely and effective resolution of complex issues identified through monitoring and testing.
• Prepare quarterly and annual compliance reports for management and regulatory bodies.
• Perform routine monitoring to determine the extent of compliance with regulations, laws, policies, and procedures. Communicate the results of monitoring to the appropriate department managers and senior management, follows up to ensure issues are addressed, escalates issues as appropriate.

• Consult with the Compliance Manager as well as the managers of business units on compliance and regulatory matters.
• Maintain a thorough knowledge and understanding of the laws, rules and regulations with which the business must comply and an awareness of issues of recent regulatory focus.
• Interact with State and Federal Regulatory Agencies, Executive Management, and support departments such as Internal Audit and Legal on an ongoing and regular basis.
• Provide training and guidance to applicable staff on compliance matters.
• Serve as a liaison with departments as appropriate in the execution of compliance program components and in complying with regulations.
• Perform other duties as may be assigned by the Compliance Manager or the General Counsel.

• Strong knowledge of federal and state rules and regulations that apply to financial institutions.
• Strong knowledge of risk management as it relates to compliance and the development/maintenance of risk assessments.
• Skilled at applying internal compliance standards, procedures, and techniques as well as…