Regulatory Compliance Officer

Freedom Federal Credit Union; Bel Air (MD); On-site; USD 110,000 - 170,000; Full time

Benefits offered by this job

PTO

11 holidays with floating birthday

Health insurance

401k retirement plan

Tuition reimbursement

Job summary

Freedom Federal Credit Union is seeking a Regulatory Compliance Officer to manage the enterprise compliance program, monitor federal and state requirements, and serve as the BSA/AML lead. The role requires coordinating regulatory changes, conducting reviews, and ensuring adherence across products, disclosures, and procedures.

The person will work with management to strengthen controls, train staff, and support regulatory examinations, while maintaining confidentiality and professional judgment.

Qualifications

• Bachelor's degree in business, finance, accounting, criminal justice, risk management, compliance, or a related field; equivalent experience may be considered.
• At least five years of regulatory compliance, BSA/AML, risk management, audit, or financial-crime experience within a financial institution; three years in regulatory compliance or BSA/AML responsibilities.
• Preferred experience in consumer lending, deposits, fair lending, privacy, and SAR/CTR decisioning; FinCEN 314(a/ b) knowledge a plus.
• CUCE, NCCO, CAMS, CRCM, or comparable certification preferred and must be obtained within 18 months of hire.
• Strong analytical skills, risk assessment, investigations, and ability to communicate with auditors/regulators.

Responsibilities

• Monitor regulatory developments and communicate impact with management; provide implementation recommendations.
• Coordinate regulatory change-management activities and maintain compliance calendar.
• Provide practical regulatory guidance and escalate significant risks to leadership.
• Perform ongoing, risk-based compliance reviews of products, services, disclosures, and processes.
• Coordinate BSA/AML testing and regulatory examinations with Internal Audit or qualified reviewers.
• Review products/services for compliance implications before implementation.

Skills

Regulatory knowledge

BSA/AML knowledge

OFAC compliance

Regulatory research

Policy development

Education

Bachelor's degree in business/finance/compliance

Tools

Compliance management systems

Microsoft Office

Job description

Description

Position Overview

The Regulatory Compliance Officer administers Freedom Federal Credit Union's enterprise compliance management system and serves as a trusted advisor to management and business units. The position monitors regulatory developments, evaluates compliance risk, coordinates regulatory change, conducts compliance reviews, and helps ensure that products, services, disclosures, policies, procedures, and business practices comply with applicable federal and state requirements. The position also serves as the designated BSA/AML Compliance Officer, coordinating the day-to-day administration of BSA/AML, OFAC, and related financial-crime compliance responsibilities with sound judgment, timely escalation, clear documentation, and strict confidentiality.

Essential Duties and Responsibilities

Regulatory Compliance Management

• Monitor, research, interpret, and communicate new and changing federal and state requirements; assess their operational impact and provide clear written summaries and implementation recommendations to the Director of Risk Management and affected business owners.
• Coordinate regulatory change-management activities, including assignment of responsibility, implementation tracking, validation, documentation, and timely escalation of delays or unresolved risk; maintain the related compliance calendar and regulatory inventory.
• Provide practical regulatory guidance to management and employees, recommend improvements to controls, monitoring, policies, procedures, and employee practices, and elevated significant, systemic, or unresolved compliance concerns to the Director of Risk Management.

Compliance Review, Monitoring, and Corrective Action

• Perform ongoing, risk-based compliance monitoring and reviews of existing products, services, disclosures, forms, advertisements, policies, procedures, and operational practices.
• Evaluate compliance with applicable consumer-protection requirements, including deposit, lending, fair lending, privacy, advertising, electronic services, and membernotice requirements relevant to the Credit Union's operations.
• Document review scope, testing, findings, risk ratings, recommendations, and management responses; track corrective actions arising from reviews, audits, examinations, complaints, and other identified deficiencies through verified resolution.
• Analyze member complaints and operational trends for potential violations, control weaknesses, unfair or deceptive practices, fair-lending concerns, or systemic issues.
• Support regulatory examinations and audits by coordinating requests, documentation, and management responses. Coordinate periodic independent compliance and BSA/AML testing with Internal Audit or other qualified reviewers; this position may not independently audit activities or programs for which it has direct operational responsibility.

BSA/AML, OFAC, and Financial-Crime Compliance

• Coordinate and monitor the day-to-day BSA/AML compliance program, including internal controls, risk assessments, policies, procedures, reporting, and recordkeeping.
• Conduct or oversee transaction monitoring, high-risk member reviews, customer due diligence, enhanced due diligence, and investigations of unusual or suspicious activity.
• Review and determine the need for Suspicious Activity Report filings; ensure SARs, Currency Transaction Reports, and related records are complete, accurate, timely, and appropriately confidential.
• Administer applicable FinCEN information-sharing requirements, including Section 314(a) requests and the Credit Union's participation in Section 314(b), and maintain required documentation.
• Monitor OFAC screening and ensure potential matches, blocked or rejected transactions, reporting, and record retention are handled in accordance with applicable requirements and Credit Union procedures.
• Provide periodic BSA/AML and regulatory compliance reporting to the Director of Risk Management, senior management, and the Board of Directors or designated Board committee.

Advisory, Product, Vendor, and Training Support

• Review proposed products, services, delivery channels, marketing materials, and significant process changes for compliance implications before implementation.
• Support compliance-related due diligence and ongoing oversight of third-party relationships, including review of contracts, disclosures, controls, and identified compliance issues; business owners retain accountability for vendor performance.
• Partner with Learning and Development and business leaders to identify regulatory training needs, develop or review compliance content, communicate emerging risks, and ensure required training, including BSA/AML and OFAC training, is completed and documented.
• Perform special reviews, investigations, and other risk or compliance assignments as directed by the Director of Risk Management or President/CEO.

Knowledge, Skills, and Abilities

• Strong working knowledge of laws and regulations applicable to federally insured credit unions, including consumer compliance, BSA/AML, OFAC, USA PATRIOT Act, customer identification, customer due diligence, privacy, fair lending, deposits, lending, and advertising requirements.
• Ability to interpret complex regulatory requirements, evaluate practical impact, conduct risk-based analysis and investigations, and translate conclusions into clear policies, controls, training, and business recommendations.
• Knowledge of compliance management systems, risk assessments, testing and monitoring methods, issue management, complaint analysis, and regulatory examination practices.
• Ability to communicate complex or sensitive matters clearly and professionally to employees, management, auditors, regulators, and Board-level audiences.
• Sound independent judgment, professional skepticism, attention to detail, discretion, and strict confidentiality when handling sensitive member, employee, investigation, and regulatory information.
• Strong planning and organizational skills, including the ability to manage competing priorities, maintain complete documentation, meet regulatory deadlines, and effectively use Microsoft Office and applicable compliance, transaction-monitoring, reporting, and document-management systems.

Decision-Making Authority

Exercises discretion and independent judgment in matters of significance, including:

• Interpreting regulatory requirements and recommending appropriate implementation approaches, policies, procedures, and controls.
• Determining the scope and method of compliance reviews and evaluating whether activities, products, services, and processes comply with applicable requirements.
• Evaluating unusual or suspicious activity and making or recommending filing, escalation, restriction, or remediation decisions within assigned authority.
• Escalating material compliance concerns, overdue corrective actions, potential violations, and other significant risks directly to the Director of Risk Management, President/CEO, senior management, or the Board or designated Board committee, as appropriate.

Impact and Accountability

The quality and timeliness of this position's work directly affect the Credit Union's regulatory standing, member experience, financial condition, operational effectiveness, and reputation. Management and business owners remain accountable for corrective action and compliant operation of their areas.

Requirements

Education and Experience

• Minimum Education: Bachelor's degree in business, finance, accounting, criminal justice, risk management, compliance, or a related field preferred. An equivalent combination of education, training, and directly related experience may be considered.
• Minimum Experience: Five years of progressively responsible regulatory compliance, BSA/AML, risk management, audit, or financial-crime experience within a financial institution, including at least three years of direct regulatory compliance or BSA/AML responsibility. Experience must include regulatory research, compliance monitoring or testing, issue remediation, BSA/AML and OFAC responsibilities, and interaction with auditors or examiners.
• Preferred Experience: Credit union or banking experience with consumer lending and deposit regulations, fair lending, privacy, complaint management, product or marketing review, SAR/CTR decisioning, customer due diligence, enhanced due diligence, and FinCEN Section 314(a) and 314(b) requirements.
• Professional Credentials: CUCE, NCCO, CAMS, CRCM, or a comparable regulatory compliance or BSA/AML certification is preferred at hire and must be obtained within 18 months of appointment.

Other Requirements

• Maintain the knowledge and professional development necessary to remain current on regulatory requirements, emerging risks, industry practices, and Credit Union products and operations.
• Successfully complete required background screening and any position-specific bonding or regulatory requirements.

COMPANY INFORMATION:

Freedom Federal Credit Union is a community-chartered federal credit union offering consumer financial services to those who live, work, volunteer, worship, attend school, or have family in Harford, Baltimore, & Carroll Counties as well as Baltimore City. Additionally, Freedom offers a full line of banking services for all businesses, associations, and other organizations that are based in those same locations. To learn more, visit freedomfcu.org.

Freedom Federal Credit Union offers competitive compensation, and our benefit offerings include:

• Paid time off Accrual of 17 days in 1st year of employment
• 11 paid holidays with an extra floating holiday for your birthday
• Medical, Dental, and Vision coverage – Single and Family options available
• Supplementary Health Benefit offerings including Critical illness insurance, Accident Insurance, and Hospital Indemnity Plans
• Life and AD&D Insurance, Short-Term and Long-Term Disability Plans
• 401k Retirement Plan with employer match options after 1 year, potential for additional discretionary contribution from the organization each year
• Tuition Reimbursement options of up to $5,250 each year

Freedom Federal Credit Union conducts credit, bond, and background checks. All new hires must present evidence of authorization to work in the US. Freedom Federal Credit Union participates in the E-Verify program. Freedom Federal Credit Union is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected Military/Veteran status and will not be discriminated against based on disability.

If you are a disabled applicant and cannot apply online, please contact Freedom directly at [e-mail] for assistance.