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Job description

The primary focus for a Risk & Compliance Officer needs to be the identification and elimination of any risks that may result in financial loss, injury, or legal liability. The purpose of risk management is to safeguard the credit union, its members, reputation, assets and the interests of stakeholders by identifying, assessing, managing and mitigating all threats to the achievement of its business objectives. Risk Officers work to identify and lessen threats, working to produce and implement strategies and plans to avoid future risks and to design contingency plans if things go wrong, deciding how to avoid, reduce or transfer risks. Types of risk include credit, health and safety, insurance, fraud, market (e.g. risks arising from interest rate fluctuations), liquidity (e.g. whether the credit union has sufficient cash flow) and operational (e.g. risk of processes breaking down). This officer will provide assurance to the Boards of Directors and the Regulators that W.B.R. and Kilkeel Credit Unions are operating within the letter and spirit of the legal and regulatory framework laid down within the UK law, and in particular the regulatory and supervisory framework required by the regulators and other statutory and professional bodies. .

Responsibilities

• To maintain the compliance system to ensure that all elements of all relevant products and services offered to members by the credit union are being carried out in accordance with relevant laws, regulations, policies and procedures,
• rules and Codes of Practice, and in line with industry best practice.
• Identifying all statutory and regulatory obligations applicable to the credit union. To ensure the requirements of the compliance system are implemented and adhered to on an on-going basis, and to ensure relevant issues are effectively reported.
• Advising the credit union board, management and staff on compliance laws, rules and standards and provide appropriate management information on a regular basis or as required
• To monitor changes to legal, regulatory and industry environments on an on-going basis and assess impact on the business and provide advice and appropriate documentation for the credit union to ensure compliance.
• Ensure all audit or regulatory corrective actions and recommendations are implemented, where applicable, within agreed deadlines.
• To ensure appropriate compliance training programmes are completed by all Credit Union Officers as required.
• Prepare and present compliance reports to the board of directors regularly. To investigate cases of non-compliance within the credit union. To ensure adequate records are kept and maintained around compliance
• Ensuring that any Service Level Agreements take compliance and regulatory considerations into account.
• Liaise closely with the Supervisory Committee to ensure that adherence to Compliance Requirements is sufficiently addressed across both the compliance and supervisory workstreams
• Keep abreast of all relevant changes to Compliance Requirements to ensure the credit union implements all necessary policies, procedures or other controls in a timely and effective manner
• Act as the Data Protection Representative Ensuring that all necessary regulatory filings are submitted accurately and on time.

Skills and Qualifications

Essential Skills

• Data Protection experience and/or strong understanding of UK GDPR
• Knowledge of compliance requirements of the various Regulators in the financial sector
• Current valid Driving license, access to personal transport

Further Information

Visit our website for more information: www.wbrcu.com/news (paste into a web browser). Completed applications to be returned to manager@wbrcu.com / Job Split 3 weeks W.B.R Credit Union & 2 weeks in Kilkeel Credit Union.