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Senior Compliance Officer in McLean, VA at Pentagon Federal Credit Union

Date Posted: 1/4/2019

Job Snapshot

Job Description

Senior Compliance Officer

PenFed is hiring a Senior Compliance Officer at our headquarters in McLean, Virginia. The primary purpose of this job is to provide advisory support to more complex product and business lines such as mortgages or credit cards. This role will provide complex regulatory guidance to products and services to ensure regulatory compliance is incorporated.

Essential Functions
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned.

  • Maintain knowledge of current regulations and upcoming regulatory changes and reviews regulatory change requirements with assigned business line managers.
  • Ensure business goals and objectives are consistent with current regulations and upcoming regulatory changes.
  • Maintain up to date knowledge of operational policies, procedures, and systems in assigned business areas.
  • Review proposed changes to policies and procedures and provides compliance related feedback as required.
  • Design and/or implement compliance audit reviews, monitor assignments, draft reports of results and observations.
  • Identify compliance and reputational risks associated with online banking, social media, product and system changes where products and services are promoted and transactions are performed.
  • Participate in the development of new product and service to ensure regulatory compliance requirements are incorporated throughout the product’s life cycle.
  • Lead complex product/process projects and provide compliance direction for implementation of new regulations and laws.
  • Monitor the compliance mailbox in rotation with other compliance staff to ensure prompt compliance review of advertisements and other marketing materials.
  • Develop assigned product and services compliance training courses and provide training to assigned business units.
  • Develop and update materials as needed, and answer questions from participants and managers.
  • Ensure employees understand how their job duties and responsibilities fit into the overall compliance program.
  • Review monthly complaint log to determine regulatory issues within the assigned areas.
  • Research specific consumer complaints as assigned.
  • Provide assistance to managers, audit services and coordinator of executive correspondence as requested.
  • Research and provide responses to compliance questions from employees, coordinating with other compliance staff, business unit managers and other subject matter experts as needed.
  • Write compliance articles and training flashes for in-house use, and prepare training guides and FAQ sheets for employees to facilitate explanations to employees and members.
  • Participate in monthly compliance committee meetings.
  • Assist with maintaining PenFed’s compliance with all applicable federal, state and local laws, regulations and ordinances by abiding by PenFed compliance program and all policies, procedures, rules and regulations.

Education and Experience
Equivalent combination of education and experience is considered.

  • Bachelor’s Degree in a related field is preferred.
  • Minimum of five (5) years’ experience in a compliance capacity at either a financial institution or bank regulatory agency with strong knowledge of consumer banking regulations and regulator expectations for an effective compliance program is required.
  • Familiarity with the primary consumer deposit, lending and credit laws and regulations, including but not limited to RESPA, Fair Credit Reporting Act, Fair Lending laws, Regulations B, E and Z, Home Mortgage Disclosure Act (HMDA), Truth in Savings, and the SAFE Act.

Supervisory Responsibility
This position will mentor employees.

Licenses and Certifications
Current compliance certification is required, such as NCCO or CRCM.

Work Environment
While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.
*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*

Ability to travel to various worksites and be on-call may be required.

About Us

Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 1.6 million members and over $23 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico, Okinawa, and Portugal. We are federally insured by NCUA and we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day.

Our mission isn’t simply to help our members get by. We exist to help them realize every ounce of their potential. We exist to educate, and to encourage. We exist to usher their dreams into the land of reality.

We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more.

Equal Employment Opportunity

PenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same.

PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 571-289-4710.