Compliance Counsel

Position Summary: The Compliance Counsel is responsible for significantly supporting the Credit Union's compliance with laws, regulations, and internal policies by conducting legal research, monitoring evolving laws, regulations, and guidance, and providing strategic and options-aware counsel that enable the effective management of compliance risk and achievement of organizational goals. This role drives compliance management efforts through serving as a key resource that provides expert regulatory compliance review and advisory services throughout the creation of and amendment to: external directives, such as laws, regulations, and guidance; internal directives, such as Bylaws, policies, and procedures; and Credit Union products, services, service channels, and processes. This role supports the Credit Union's issue management program and compliance training offerings, and engages in communication and action to notably support internal and external audit, review, and examination processes. This role is essential for achieving and maintaining regulatory compliance.

Work Arrangement - This position is a hybrid role, working at our Headquarters in East Lansing, MI.

Schedule - Monday - Friday 8:30am - 5:00pm ET

An offer of employment with MSU Federal Credit Union and affiliates is contingent upon the agreed work arrangement (onsite/hybrid/remote) and work location. MSU Federal Credit Union may or may not be able to accommodate temporary or permanent changes to work arrangements or allow employment outside the city and/or state of residency in which the new hire resides at the time of offered employment.

Essential Duties and Responsibilities:

Compliance Counsel:

• Provide strategic, timely, accurate, and clear recommendations after conducting complex research on laws, regulations, guidance, case law, and other legal authority impacting federal credit unions, such as but not limited to the: Federal Credit Union Act, National Credit Union Administration Regulations, Equal Credit Opportunity Act (and Regulation B), Home Mortgage Disclosure Act (and Regulation C), Electronic Fund Transfer Act (and Regulation E), SAFE Mortgage Licensing Act (and Regulation G), Gramm-Leach-Bliley Act (and Regulation P), Fair Credit Reporting Act (and Regulation V), Real Estate Settlement Procedures Act (and Regulation X), Truth in Lending Act (and Regulations M and Z), Expedited Funds Availability Act (and Regulation CC), Americans with Disabilities Act, Bank Secrecy Act, CAN-SPAM Act, Children's Online Privacy Protection Act, E-SIGN Act, Fair Housing Act, Homeowners Protection Act, Military Lending Act, Servicemembers Civil Relief Act, Telephone Consumer Protection Act, Truth in Savings Act, OFAC Rules, Unfair, Deceptive, and Abusive Acts and Practices (UDAAP), and applicable state law and regulation.
• Monitor and assess proposed and new laws, regulations, guidance, and case law; draft and submit comments to regulators and trade organizations on notices of proposed rulemaking and proposed rules; and identify, communicate, and oversee timely completion of required actions by appropriate stakeholders in response to new directives.
• Identify compliance issues using frameworks like the 5C Model to identify and communicate action needed. Provide recommendations to management, track responses, and validate resolution.
• Collaborate on cross-functional projects with internal teams, vendors, and contractors, ensuring compliance requirements and factors are timely and effectively identified, communicated, and considered in the development and modification of Credit Union products, services, service channels, and processes.
• Develop and review compliance training materials, assist in staff and Board training, and contribute to ongoing compliance education efforts.
• Assist Compliance and Quality Control Analysts in the creation of detailed testing checklists for new products and services, focusing on regulatory compliance, policy and procedure requirements, and high-risk attributes to ensure thorough yet efficient reviews.
• Assist in gathering, preparing, and communicating information for internal and external reviews, audits, examinations, and other regulatory engagements.
• Support the maintenance of the Credit Union's enterprise-wide compliance risk assessment.
• Engage in and complete in-house and external training and professional development opportunities to continuously enhance expertise in compliance requirements, Credit Union operations, and emerging technologies and share knowledge and insights gained with the team.
• Understand the Credit Union's policies and procedures to ensure compliance and accountability for managing operational and compliance risks. Adhere to established internal controls and procedures to safeguard assets, prevent fraud, and maintain the integrity of Credit Union operations. Support management of risks, including compliance risk, in a manner that is consistent with the Credit Union's risk appetite statements.
• Perform all other duties as assigned.

Knowledge, Skills, and Abilities Required:

Compliance Counsel I:

• A Juris Doctor (JD) degree is required.
• An active license to practice law in at least one U.S. jurisdiction is required with the eligibility and willingness to be licensed to practice law in Michigan and/or Illinois within the first year of employment.
• A relevant compliance certification is required; or a minimum of two years of prior experience interpreting laws and regulations governing a heavily regulated industry with the expectation of obtaining relevant compliance certification within the first year of employment. Examples of a relevant compliance certification include, but are not limited to, the Credit Union Compliance Officer (CUCO) certification from America's Credit Unions or the Certified Regulatory Compliance Manager (CRCM) certification from the American Bankers Association.

Competencies:

• Core Competencies that must be demonstrated by all include Communicate, Navigate Change & Evolve, Solve Problems & Make Decisions, Plan, Prioritize, and Achieve, and Collaborate. Review the corresponding behaviors here.
• Functional Competencies:
  
  
  
  • AI and Digital Proficiency - Leverages artificial intelligence and digital tools to enhance decision-making, identify trends, and manage emerging risks. Applies AI-driven insights to support due diligence, validate outcomes, and refine prompt engineering techniques. Continuously adapts to advancements in AI to improve efficiency and effectiveness within the role.
  • Analytical Thinking - Breaks down complex information into smaller parts.
  • Change Management - Adjusts thinking and behavior to resiliently face change and uses experience to fuel growth. Enables the process of change and transition while helping others deal with its effects. Displays self-awareness of their personal reaction to change and regulates their response. Acts as a change champion, communicating the why behind the change and aligning with organizational direction.
  • Critical Thinking - Takes outside knowledge into account while evaluating information.
  • Data Analysis - Analyzes and draws insights from relevant data. Uses storytelling to effectively communicate insights and actionable, data-informed recommendations.
  • Detail Orientation - Ensures information is complete and accurate. Adheres to processes as outlined. Follows up to ensure quality and completion of work.
  • Project Management - Demonstrates knowledge of project frameworks and their corresponding life cycles; project management concepts, tools, and best practices; project reporting standards; and project plan development.
  • Process Knowledge - Demonstrates knowledge of procedures and department or Credit Union processes and utilizes this knowledge to inform decisions.
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    Product Knowledge - Demonstrates knowledge of products, services, and relevant details offered or supported within position.

    
    
  • Research - Investigates and studies sources to understand situations before reaching conclusions or acting.
  
  
  
  

Physical Demands and Work Environment:

• May be required to remain in a stationary position for an extended period.
• Ability to operate standard office technology, equipment, and tools, which may include many hours of computer and phone usage.
• Occasionally needs to move about inside of an office area.
• Exposure to potentially hazardous condition, i.e. robbery. Receives detailed instructions and procedures to be followed to minimize the exposure.
• This position can work in hybrid or onsite working arrangements.

Disclaimer:

• Please note this job description is not intended to be construed as an exhaustive list of all functions, responsibilities, skills, and abilities. Additional functions and requirements may be assigned by supervisors as deemed appropriate. This document does not represent a contract of employment, and MSU Federal Credit Union reserves the right to change this position description and/or assign tasks for the employee to perform, as MSUFCU may deem appropriate.
• MSUFCU is an affirmative-action, equal-opportunity employer.
• To perform this job successfully, an individual must be able to perform each essential job duty satisfactorily. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform essential job functions.