Compliance Counsel

Performs 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. The position is responsible for conducting performance, operational, financial, and compliance reviews; providing consulting services to organizational management and staff; and providing input to the development of compliance management plans.

Work Arrangement - This position is a hybrid role, working weekly at our Headquarters in East Lansing, MI. Expectation is to work at least 1 day/week (Tuesday) in the office.

Schedule - Monday - Friday 8:30am - 5:00pm ET

An offer of employment with MSU Federal Credit Union and affiliates is contingent upon the agreed work arrangement (onsite/hybrid/remote) and work location. MSU Federal Credit Union may or may not be able to accommodate temporary or permanent changes to work arrangements or allow employment outside the city and/or state of residency in which the new hire resides at the time of offered employment.

Compensation & Benefits:

• Salary: Level I starting at $120,000+, depending on experience
• 100% Company-Paid Health, Dental, Vision, Life, and Long-Term Disability Premiums
• Up to 26 days of PTO within your first year, as well as Volunteer Time Off & 11 Paid Holidays
• 401(k) with a company match
• Tuition Reimbursement
• Up to 12 Weeks of Paid Parental Leave
• Learn more about our benefits here

Essential Duties and Responsibilities:

Compliance Counsel:

• 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.
• Assists 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.
• Performs 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 your 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.

Sr. Compliance Counsel:

• All of Compliance Counsel duties and responsibilities.
• Demonstrate the ability to independently research a variety of compliance issues.
• Demonstrate significant knowledge of relevant laws and regulations affecting the credit union.
• Demonstrate the ability to accept increasingly complex duties and responsibilities and perform those additional duties to a satisfactory level.
• Demonstrate the ability to independently plan, perform, and complete compliance projects.
• Assist and mentor team members with less experience in expert areas.
• Demonstrate an expert-level knowledge of relevant laws, regulations, case law, and other legal authority affecting the Credit Union.
• Performs all tasks consistently and effectively.

Knowledge, Skills, and Abilities Required:

Compliance Counsel I:

• High School Diploma or equivalent required.
• A Juris Doctorate (JD) and license to practice law in Michigan, or the capability to be licensed in Michigan, is required.
• One to five 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.
• Extensive knowledge of and skill in regulatory compliance issues affecting credit unions.
• Considerable knowledge of industry program policies, procedures, regulations, and laws.
• A high level of interpersonal and communication skills necessary to relate to and empathize with others and to maintain a friendly and positive attitude.
• Knowledge of regulatory compliance, financial crimes, and fraud related issues affecting Credit Unions is required.
• Knowledge of management information systems terminology, concepts, and practices.
• Knowledge of industry program policies, procedures, regulations, and laws.
• Skill in collecting and analyzing complex data, evaluating information and systems, and drawing logical conclusions.
• Extensive skill in planning and project management, and in meeting multiple deadlines.
• Ability to use independent judgment and discretion, and take initiative, in absence of specific direction from the Compliance Manager, VP of Compliance, and/or Chief Risk Officer.
• Skill in negotiating issues and resolving problems.
• Computer skills, including word processing, spreadsheet, systems documentation, and other business software to prepare reports, memos, summaries, and analyses.
• In addition to personal computer, operates standard office equipment, i.e., copier and fax.
• Considerable skill in effective verbal and written communications, including active listening skills and skill in presenting reports and recommendations for improvement.
• Ability to establish and maintain harmonious working relationships with co-workers, staff, and external contacts, and work effectively in a professional team environment.

Sr. Compliance Counsel:

• All of Compliance Counsel knowledge, skills, and abilities.
• Five or more 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.).
• Ability to organize and prioritize work with minimal direction.
• Obtained, or is successfully working towards obtaining, multiple compliance certifications.
• Ability to assist with the training of other staff on complex regulatory compliance issues.
• Ability to analyze complex problems and perform research in order to provide value-added recommendations for improvement.
• Expert knowledge of and skill in regulatory compliance issues affecting credit unions.
• Expert knowledge of industry program policies, procedures, regulations, and laws.

Competencies:

• Core Competencies that must be demonstrated by all include Communicate, Navigate Change & Evolve, Solve Problems & Make Decisions, Plan, Prioritize, and Achieve, and Collaborate.

Physical Demands and Work Environment:

• May be required to remain in a stationary position for an extended period of time.
• Ability to operate standard office technology, equipment, and tools, which may include many hours of computer and phone usage.
• Occasionally needs to move about inside of office area.
• Exposure to potentially hazardous condition, i.e., robbery. Receives detailed instructions and procedures to be followed to minimize the exposure.
• This position is able to work in hybrid or onsite working arrangements.

Disclaimer:

• Please note this job description is not intended to be construed as an exhaustive list of all functions, responsibilities, skills, and abilities. Additional functions and requirements may be assigned by supervisors as deemed appropriate. This document does not represent a contract of employment, and MSU Federal Credit Union reserves the right to change this position description and/or assign tasks for the employee to perform, as MSUFCU may deem appropriate.
• MSUFCU is an affirmative-action, equal-opportunity employer.
• To perform this job successfully, an individual must be able to perform each essential job duty satisfactorily. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform essential job functions.