Vice President Risk Management

The 7 Cooperative Principles

Principle #1 (Inclusiveness): Membership Should Be Open To All
Principle #2 (Voice): Members Should Call The Shots
Principle #3 (Participation): Rates & Fees Should Benefit Our Members
Principle #4 (Independence): Autonomy & Independence Set Us Apart
Principle #5 (Education): Financial Education Should Be Free & Available To All
Principle #6 (Cooperation): Cooperation Among Cooperatives Is Vital
Principle #7 (Community): Giving Back To The Community Is An Obligation

Please visit http://www.smcu.com/home/about/employment to see a full job description, benefits summary and to learn more about the credit union.  Also, find out a little more about the culture of organization by visiting the following sites, http://www.7principles.coop/ and http://opcoop.coop/.

Seattle Metropolitan Credit Union is a growing credit union with an excellent opportunity for an experienced Vice President of Risk Management.

This is an exceptional career opportunity for a professional with an in depth knowledge of all federal and state laws governing financial institutions, including proven ability to apply these requirements to business practices and systems to identify and assess compliance risk.  As a member of the Management Team, this dynamic individual will be results oriented and will have experience leading a team.  There is room for growth in this successful organization as well as a variety of activities and projects involved in this busy position.  Must be a self-starter, take initiative, and have strong leadership, communication, and collaboration skills, including the ability to work effectively with others at all levels across the organization.  Ability to quickly assimilate information relating to complex issues, maintain poise, diplomacy, and the ability to use discretion when making decisions, be creative and innovative in problem solving, and exercise good judgment.  We offer an excellent compensation package, along with an extensive benefits package. 

Role at SMCU

The Vice President Risk Management (VPRM) will serve as the primary resource for the establishment of standards and procedures to ensure compliance with all applicable financial service industry laws and regulations.

Establishes and maintains a compliance program using exceptional leadership skills, network of internal and external alliances and highly developed business skills. Possesses an intimate knowledge of internal business processes of the financial institution industry and has a broad based operational perspective.

Essential Job Functions

Compliance

  • Develop, implement and administer a compliance program that addresses all applicable federal and state laws and regulations related to both loan and deposit products.
  • Establishes written policies and procedures to ensure compliance with regulations.
  • Performs and maintains risk assessments for various processes and programs to identify risks, create internal controls and implement mitigation factors.
  • Has primary responsibility for management of BSA/AML compliance to ensure that regulations are understood, and operational processes are in place to ensure compliance.
  • Chair and lead Compliance Committee meetings. Define roles and responsibilities for members. Monitor compliance activities of other departments to remain abreast of compliance activities.
  • Collaborates with other departments to direct compliance issues to appropriate area for investigation and resolution. Consults with outside experts as necessary to resolve difficult compliance issues.
  • Oversee and present regular reports to the senior management team and the Board or Supervisory Committee on the state of compliance with regulations and internal policy and procedures.
  • Develops, coordinates and maintains the Business Continuity Program including methodology that address regulatory, best practice and industry standards. Leads business units in determining critical business processes and establish resources required for the successful resumption of critical business in the event of a significant disruption.
  • Proactively track and identify compliance issues and regulatory developments to allow adequate time to implement necessary changes to policies and procedures.
  • Partner with Training group to develop, identify and implement compliance training requirements for all employees.
  • Provide ongoing Board/management training on select compliance areas.
  • Monitor performance of compliance program on a continuing basis, evaluating and communicating the effectiveness of the program; implementing changes as necessary to improve performance.

Loss Prevention and Other

  • Responsible for fraud prevention and risk mitigation processes.
  • Establish monitoring and reporting process for tracking fraud and other credit union losses.
  • Responsible for maintenance of standards and accountabilities for all direct staff in managing and measuring their performance, assuring staff development to allow for succession needs and achievement of corporate and personal goals.
  • Assist in analysis of any significant new strategy or change to current operations, including product development, to ensure compliance with applicable regulations.

Risk Management

  • Work with executive team to communicate relevant risks and opportunities and to establish acceptable risk tolerance levels.
  • Develop and conduct risk assessments and analysis as needed.  Assure the development, evaluation and implementation of policies and procedures reflecting current regulations and best practices.
  • Participate in the development of the strategic plan and carry out those items as assigned, personally or jointly.
  • Serve as one of the credit union’s liaisons with regulatory agency examiners, internal and external auditors and assure timely responses and implementation of all assigned exam and/or audit items.

Other duties may be assigned.

Working Conditions

  • Indirect exposure to robbery.
  • Work is generally performed in an office environment. 
  • May be required to attend off-hours and off-site meetings and seminars.
  • May require some traveling.

Qualifications

Knowledge

  • A Bachelor or Masters Degree in business related field.
  • Comprehensive knowledge of financial service industry products, operations and procedures. 
  • Knowledge of local, state and federal laws and regulations as it applies to financial institutions.
  • Certified Regulatory Compliance Manager (CRCM) or similar certification strongly preferred.

Skills

  • Leadership skills.
  • Excellent oral and written skills.
  • Operate PC word processing and various complex spreadsheets.

Abilities

  • Self motivated and able to work independently; while also being leader in a team-based environment.
  • Ability to communicate with tact, discretion and courtesy with all levels within and outside the organization.
  • Ability to directly manage staff and lead others in a project management function.
  • Sound judgment, attention to detail and problem solving abilities.
  • Professional appearance and demeanor.

Experience

  • At least 10 years experience in risk management and compliance (five of which must have been in a management capacity in a credit union or other financial institution).

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.  The requirements listed above are representative of the knowledge, skills and/or abilities required.  Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

We are proud to be an EEO/AA employer M/F/D/V. 

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