Chief Risk Officer/General Counsel (Onsite)
Job Code: ID 2023-1671
Job Code: ID 2023-1671
About the job
The Chief Risk Officer/General Counsel is responsible for leading corporate strategic and operational legal initiatives. The Chief Risk Officer/General Counsel provides legal advice to the credit union regarding a variety of matters including regulatory compliance, contracts, litigation, insurance and risk management, intellectual property, governance, consumer and commercial lending and deposit transactions and loan documentation, mergers and acquisitions, real estate, and general corporate matters. This position is responsible for the Credit Union’s Legal Department and providing oversight of Internal Audit, Compliance, Risk Management, Vendor Management, Fraud, and Quality Control. The Chief Risk Officer/General Counsel is accountable for ensuring the ongoing confidence among senior leadership, board of directors, and regulators in the safety and soundness of controls which demonstrate compliance to applicable rules/regulations and mitigation of undesired risks, protecting the Credit Union from exposure to financial losses and/or reputational risk. At the core, the Chief Risk Officer/General Counsel works closely with other executives to deliver outstanding service and support while being a critical thought partner in driving the strategic plan.
About Frontwave Credit Union
Frontwave Credit Union is a member-owned not-for-profit financial institution serving San Diego, Riverside, and San Bernardino counties. Founded in 1952, we have grown to 13 branches with 120,000 members and manage over a billion in assets. At Frontwave Credit Union, we are focused on creating consumer solutions to provide our members and the communities we serve with products and services that enhance the quality of life for our members through exceptional service and the progressive application of technology.
What’s In It For You
Competitive pay, 401k matching, mortgage and auto discounts.
9-27 days of PTO per year (based on tenure) and 10 paid holidays.
Affordable medical, dental, vision health plans, and Flexible Spending Account.
Employee Assistance Program with a variety of services.
Career development, training, and coaching, mentoring; tuition reimbursement up to $4,000/year.
Culture of excellence and continuous improvement.
We strive to be the best place you’ve ever worked!
Essential Duties and Responsibilities
Includes the following non-inclusive list. Other duties may be assigned. All duties are to be performed in compliance with applicable laws, regulations and Credit Union policies and procedures.
Advise executives, leadership, board members, and employees on laws, rules, and regulations pertaining to the Credit Union
Manages and oversees the work of outside counsel and litigation. Judges the merits of major court cases filed against or on behalf of the credit union, works with the appropriate executives to define a strategic defense and approves settlements of disputes where warranted.
Oversees the selection, retention, management and evaluation of all outside counsel, when necessary.
Participates in the definition and development of credit union policies, procedures and programs and provides continuing counsel and guidance on legal matters and on legal implications of all matters.
Prepares, reviews and negotiates contracts, proposals, and agreements on behalf of the company for various corporate initiatives unrelated to outside vendors.
Participates in various committees and provides guidance and expert advice to the Board of Directors, Supervisory Committee, senior management, and credit union personnel on current and emerging legal topics, including trends and issues.
Conducts legal research and prepares memoranda, correspondence or other materials summarizing and applying research and analysis to credit union issues.
Develops and administers the credit union’s regulatory compliance program and evaluates its effectiveness which encompasses a review of internal controls and adherence to lending, BSA/AML and consumer laws and regulations.
Manages daily operations of the Risk & Compliance, Fraud, and Internal Audit departments.
Analyzes and interprets new regulatory requirements to ensure the credit union’s compliance program remains effective and accurate.
Serves as a subject matter expert on compliance and enterprise risk related matters as credit union projects and initiatives are introduced, implemented and revised.
Updates and maintains internal compliance training programs.
Responsible for managing Member complaints and escalations from DFPI and NCUA.
Acts as the primary coordinator for regulatory examinations including document gathering, meeting coordination, and escalations. Responsible for maintaining accurate and effective tracking reports and ensure established deadlines are met.
Assists in updating and reviewing credit union policies and procedures based on regulatory changes, internal audits, and examinations by regulatory agencies.
Develops effective centralized internal controls to consistently protect the credit union.
Ensures that credit union disclosures are in compliance with regulations and submits suggested changes to management.
Keeps abreast on any legal issues affecting the credit union; provides legal analyses and summaries of relevant rulemaking in a timely manner.
Keeps abreast of changes in lending, BSA/AML, consumer and credit union regulations to maintain compliance and communicate as appropriate.
Ensures that credit union members receive the appropriate privacy notifications.
Supervises the AML/BSA, OFAC, and FinCEN responsibilities and AML/BSA/OFAC Officer.
Represent the Credit Union in appropriate professional forums on Legal, Risk, Compliance and ERM issues and idea exchanges
Maintain stellar risk management policies/practices and provide ongoing presentations to executives, board members, and operational areas within the Credit Union on compliance to applicable statues and regulations, adherence to sound risk management practices and ERM.
Other essential duties may be assigned.
SUPERVISES, GUIDES, AND DIRECTS THE EMPLOYMENT AND DEVELOPMENT OF THE COMPLIANCE AND RISK MANAGEMENT FUNCTIONS
Monitors the effectiveness of each manager relative to their department’s overall results.
Regularly conducts meetings or trainings with staff.
Prepares and conducts performance evaluations for staff.
Directs management staff in planning, direction, and developing their assigned staff.
Establishes appropriate limits of authority for all assigned personnel and ensures adequate understanding of credit union’s procedures and policies.
Promotes team participation on departmental and organizational levels.
Provides leadership and direction to staff and drives the completion of projects.
EDUCATION And/or EXPERIENCE
Juris Doctorate degree from an American Bar Association-accredited law school required.
A minimum of Seven (7) years of legal practice or corporate in-house work
Legal and regulatory compliance within financial services (with strong contracts and contracts negotiations background preferred)
Credit Union Experience Preferred
Strong working knowledge of the credit union and/or banking industry.
Demonstrated ability to produce documents, spreadsheets, databases, etc. with Windows-based software.
Excellent communication skills, both written and verbal.
Excellent presentation skills; ability to conduct presentations to individuals and groups.
Ability to manage and prioritize multiple projects under heavy deadlines.
Strong interpersonal skills in order to effectively communicate with members as well as staff and management.
Excellent organizational skills.
Ability to travel as required.