LSC - Helping Credit Unions Compete
Compliance Analyst
LSC - Helping Credit Unions Compete, Naperville, Illinois, United States, 60564
Summary:
The Compliance Analyst is primarily responsible for working with the Compliance Department to provide compliance analysis of Illinois and federal laws related to credit union operations. In addition, the Compliance Analyst is a key contributor to our back-office service, providing operational support to primarily smaller asset-size credit unions. This role requires a deep understanding of credit union operations, including expertise in NCUA Form 5300, bank reconciliations, and IRS Form 990. The ideal candidate will possess strong analytical skills, attention to detail, and the ability to work independently while effectively collaborating with credit union clients.
Essential Duties and
Responsibilities
:
Monitor and provide verbal and written analysis of laws related to credit union operations.
Stay current on regulatory changes and industry best practices and serve as the subject matter expert for ICUL's member credit unions.
Perform legal research and prepare appropriate analysis as requested.
Draft written comment letters on behalf of ICUL member credit unions related to regulatory proposals.
Prepare compliance materials, including memoranda, blog entries, electronic newsletter publications, and regulatory updates/alerts.
Attend, present, and participate in seminars, workshops, conferences, and meetings related to compliance on matters affecting credit union operations.
Assist with ICUL's Compliance Services, such as Bank Secrecy Act Testing and Credit Union Assist services, including back-office operations for small credit unions.
Perform administrative tasks associated with ICUL's Compliance Services.
Receive
ongoing
education
and
training
to
remain
current
with
laws
and
regulatory
changes
impacting credit unions.
Subject Matter Areas
Include:
Lending, including the Equal Credit Opportunity Act/Regulation B, Truth in Lending Act/Regulation Z, Real Estate Settlement Procedures Act, the Fair Debt Collection Practices Act, and other federal and state lending statutes and regulations.
Credit union policies and procedures, including the Illinois Credit Union Act, the Federal Credit Union Act, and National Credit Union Administration regulations.
Deposit accounts, including the Truth in Savings Act and Electronic Funds Transfer Act/Regulation E.
Bank Secrecy Act and anti-money laundering laws.
Advertising, including compliance with Regulation Z and National Credit Union Administration regulations.
Illinois Community Reinvestment Act and applicable rules.
Various other subject matter areas related to credit union operations.
Skills and Attributes:
Strong written and verbal communication.
Successfully manage daily credit union compliance inquiries.
Successfully manage short and long-term projects, ensuring timely completion and achieving project goals.
Ability to work independently and as part of a team.
High level of professionalism and integrity.
Approach challenges with a proactive mindset by identifying effective solutions.
Preferred Education and
Experience:
College degree or achievement of formal industry-recognized certifications
5+ years of relevant experience
Microsoft Office proficiency
Salesforce experience a plus
Lexis/Nexis or Westlaw experience a plus
Credit union operations experience a plus
Working
Conditions:
Hybrid office work
environment
Supervisory
Responsibilities:This job has no supervisory
responsibilities.
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The Compliance Analyst is primarily responsible for working with the Compliance Department to provide compliance analysis of Illinois and federal laws related to credit union operations. In addition, the Compliance Analyst is a key contributor to our back-office service, providing operational support to primarily smaller asset-size credit unions. This role requires a deep understanding of credit union operations, including expertise in NCUA Form 5300, bank reconciliations, and IRS Form 990. The ideal candidate will possess strong analytical skills, attention to detail, and the ability to work independently while effectively collaborating with credit union clients.
Essential Duties and
Responsibilities
:
Monitor and provide verbal and written analysis of laws related to credit union operations.
Stay current on regulatory changes and industry best practices and serve as the subject matter expert for ICUL's member credit unions.
Perform legal research and prepare appropriate analysis as requested.
Draft written comment letters on behalf of ICUL member credit unions related to regulatory proposals.
Prepare compliance materials, including memoranda, blog entries, electronic newsletter publications, and regulatory updates/alerts.
Attend, present, and participate in seminars, workshops, conferences, and meetings related to compliance on matters affecting credit union operations.
Assist with ICUL's Compliance Services, such as Bank Secrecy Act Testing and Credit Union Assist services, including back-office operations for small credit unions.
Perform administrative tasks associated with ICUL's Compliance Services.
Receive
ongoing
education
and
training
to
remain
current
with
laws
and
regulatory
changes
impacting credit unions.
Subject Matter Areas
Include:
Lending, including the Equal Credit Opportunity Act/Regulation B, Truth in Lending Act/Regulation Z, Real Estate Settlement Procedures Act, the Fair Debt Collection Practices Act, and other federal and state lending statutes and regulations.
Credit union policies and procedures, including the Illinois Credit Union Act, the Federal Credit Union Act, and National Credit Union Administration regulations.
Deposit accounts, including the Truth in Savings Act and Electronic Funds Transfer Act/Regulation E.
Bank Secrecy Act and anti-money laundering laws.
Advertising, including compliance with Regulation Z and National Credit Union Administration regulations.
Illinois Community Reinvestment Act and applicable rules.
Various other subject matter areas related to credit union operations.
Skills and Attributes:
Strong written and verbal communication.
Successfully manage daily credit union compliance inquiries.
Successfully manage short and long-term projects, ensuring timely completion and achieving project goals.
Ability to work independently and as part of a team.
High level of professionalism and integrity.
Approach challenges with a proactive mindset by identifying effective solutions.
Preferred Education and
Experience:
College degree or achievement of formal industry-recognized certifications
5+ years of relevant experience
Microsoft Office proficiency
Salesforce experience a plus
Lexis/Nexis or Westlaw experience a plus
Credit union operations experience a plus
Working
Conditions:
Hybrid office work
environment
Supervisory
Responsibilities:This job has no supervisory
responsibilities.
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