Senior Director of Compliance & Fraud

Senior Director of Compliance & Fraud

At CommonWealth, we serve the financial needs of more than 40,000 people who live or work in Santa Clara County. We are seeking candidates who share our value and commitment to building stronger communities through financial health – one member at a time. In addition to a competitive base salary, our compensation package includes:

• 12 paid holidays
• 17 days of Paid Time Off (PTO) during first year of employment
• Up to 2% discounts on loans--including first mortgages*
• 401(k) Plan with Company Match
• Medical, dental, vision insurance
• Long-term disability insurance
• Life insurance
• Voluntary insurance
• Employee assistance program
• Financial Wellness benefits and resources
• Tuition reimbursement and more

We are currently accepting applications for a Senior Director of Compliance and Fraud based in our San Jose Corporate Office.

As our Senior Director of Compliance and Fraud, your major responsibilities will include:

• Safeguard the financial interests of members by identifying,
assessing, and mitigating fraud and compliance risks across all
Credit Union operations.
• Align the compliance and fraud functions with the strategic direction
of the Credit Union, including but not limited to, consumer/real
estate/business/commercial lending, deposits, and membership.
• Develop and lead a comprehensive compliance review and
monitoring program designed to identify, manage, and report
company-wide legal and regulatory compliance risk.
• Conduct internal reviews of the Credit Union’s compliance program.
Review, monitor and evaluate the Credit Union’s compliance related
policies and procedure to determine the adequacy and effectiveness
of the Credit Union’s compliance program.
• Review and conduct in-depth analysis on regulatory and legal
changes affecting financial institutions to determine applicability and
impact to the Credit Union.
• Monitor federal, state, and local legislative and regulatory
environment for proposed changes to laws and regulations and their
potential impact on the Credit Union.
• Provide management oversight of the Credit Union’s compliance
with the Bank Secrecy Act (BSA); vendor management function; and
all fraud-related activities across the organization including risk
mitigation tactics, metrics, reporting and trends.
• Partner with the Chief Lending Officer to provide support and
ensure compliance with the following regulations: Fair Lending,
Home Mortgage Disclosure Act (HMDA), Equal Credit Opportunity
Act (ECOA), Truth in Lending Act (TILA), Fair Debt Collection
Practices Act (FDCPA), S.A.F.E Act, Fair Credit Reporting Act
(FCRA), Real Estate Settlement Procedures Act (RESPA),
Community Reinvestment Act (CRA), Privacy of Consumer Financial
Information, and Unfair, Deceptive, or Abusive Acts or Practices
(UDAAP).
• Partner with the Chief Experience Officer to provide support and
ensure compliance with the following regulations: Electronic Funds
Transfer Act (EFT), Truth in Savings Act (TISA), Availability of Funds
and Collection of Checks (Reg. CC), OFAC, and Currency Transaction
Reporting (CTR).
• Prepare analyses and present summaries/findings to Credit Union
management to assist in decision-making.
• Manage projects required to implement regulatory and legal
changes, including setting project goals, coordinating efforts
between multiple departments, and monitoring for effectiveness.
Partner with departments to implement such changes to products,
services, and processes to ensure compliance.
• Review and revise the Credit Union’s policies, forms, disclosures,
advertisements, and other forms of member communication for
compliance with applicable laws and regulations; consult industry
experts and third-party resources (including legal counsel) as
needed. Research regulatory/legal questions from departments
across the organization.
• Serve as subject matter expert for employee compliance training
program.
• Maintain current and ongoing extensive knowledge of the laws and
regulatory requirements.

Our ideal candidate will have a minimum of ten to 15 years of credit union or banking experience, with a minimum of 10 years in a compliance-related role. Previous supervisory/management experience strongly preferred. Bachelor’s degree required. Advanced degree with area of study in business, finance or risk management a plus. Certifications such as NAFCU Certified Compliance Officer (NCCO), Credit Union Compliance Expert (CUCE), Certified Bank Compliance Officer (CBCO), Certified Regulatory Compliance Manager (CRCM), Certified Regulatory and Compliance Professional (CRCP), CU Enterprise Risk Management Expert (CUERME), NAFCU Certified Risk Manager, or Certified Regulatory Vendor Program Manager (CRVPM) strongly preferred. Significant knowledge of laws and regulations pertaining to credit unions, and ability to interpret and understand laws and regulations and determine applicability to the Credit Union. Proficient knowledge of compliance and fraud related software solutions, in addition to MS Outlook, Word, Excel and PowerPoint. Demonstrated ability to communicate effectively (written and verbal). Ability to maintain confidentiality and conduct oneself with a high level of diplomacy and tact.

Pay Range: $115,000 - $153,000; based on skills and experience.

For immediate consideration, apply now!

CommonWealth is an equal opportunity employer