Vice President, Compliance And Risk, MIT Federal Credit Union (Mitfcu)

REQUIRED: bachelor's degree (master's preferred); ten years of related work experience; and experience managing a team or leading projects, programs, or functions. Job #23881-12

The position is located in Lexington, MA.

3/28/24

VICE PRESIDENT, COMPLIANCE AND RISK, MIT Federal Credit Union (MITFCU), to be responsible for strategic planning and implementing policies, processes, personnel, reports, and systems for managing and monitoring risk exposure derived from all banking and financial services activities and risk reporting to senior management and the board. Will integrate risk management with strategic goal setting and business planning; ensure policies and procedures meet legal, regulatory, or contractual requirements; manage risk derived from financial service activities; and forecast impacts of risk on the organization, working to develop, implement, and evaluate policies, processes, and systems associated with evaluating and controlling risk.

Compliance responsibilities include monitoring high-level regulatory and legal developments; ensuring compliance with applicable laws/regulations; responding to compliance violations and audit findings; hiring, overseeing, mentoring, counseling, and appraising employees; participating in developing and evaluating short- and long-term strategic goals/objectives to reduce risks; developing and maintaining the MITFCU's compliance program and the safety of its data; investigating security breaches and instances of fraud/forgery; liaising with law enforcement and compliance examiners; and providing recommendations for embedding compliance management policies/procedures; and related tasks. Risk management duties include participating in developing and evaluating short- and long-term strategic goals/objectives to reduce risk; developing and maintaining methods/methodologies for risk analysis, the risk appetite statement, and key risk indicators; presenting risk management reports; enhancing risk models and tolerances; providing recommendations for embedding risk management policies/procedures; liaising with internal audit and NCUA examiners; preparing risk management reports; and participating in compiling the disaster recovery or business resumption plan.