Head of Regulatory Affairs Advertisement About Community CU:
Community Credit Union ("CCU") was formed in **** through the merger of Clonsilla and Premier Credit Unions.
Following subsequent mergers with West Cabra Credit Union in ****, Rowlagh and Blanchardstown and District Credit Union ****, the credit union now has a membership base of 70,000 and total assets of just under 300m.
We are delighted to announce that we are recruiting for a Head of Regulatory Affairs to join our team and champion our people and culture agenda.
Reporting to the CEO and supporting the credit union's wider management team, this is a permanent, full-time position, located in Blanchardstown.
About the role:
The Head of Regulatory Affairs will sit on Community Credit Union's senior leadership team and will be accountable to the CEO and Board of Directors for the monitoring of all existing and potential risks to the credit union.
The Head of Regulation is responsible for developing appropriate responses to eliminate or mitigate risk to a board-approved, documented tolerance level.
The Head of Regulatory Affairs will be the designated risk officer for the credit union, which is a central bank pre-approved function.
The Head of Regulatory Affairs will also be responsible for and lead the way on Risk, Compliance, Money Laundering, and Data Protection functions and will effectively manage risks and identify opportunities that can enhance the credit union's financial stability, protect our reputation, meet regulatory requirements, and make informed decisions that support sustainable growth and profitability.
Risk management provides a structured and disciplined approach to ensure that risks and opportunities are managed within acceptable limits and that the credit union can navigate uncertainty effectively.
In addition to identifying and mitigating potential risks, the Head of Regulatory Affairs will recognise the importance of capturing opportunities.
Opportunity management is the proactive curiosity to identify, assess and positively affect positive risks or opportunities that can lead to favourable outcomes and incomes for the business.
Main Duties
As the Head of Function:
Effectively communicate with the CEO, Board, Committees, and the Senior Leadership Team regarding the efficiency of systems, processes, and personnel in compliance with policies, procedures, and necessary practices.
Continuously monitor changes in legal, regulatory, and industry landscapes and evaluate their impact on the business.
E.g. DORA (Digital Operational Resilience Act) & CBOI IT Thematic Review
Engage in external forums, connect with regulatory bodies, and build a network to stay abreast of regulatory changes and best practices with the regulatory environment.
Lead and manage the direct report(s) team member(s), fostering their development, performance, and overall progress in their roles, with the ultimate goal of establishing a resilient and robust hub within the Regulatory Affairs domain.
Take a solution-driven approach, proactively anticipating issues and developing mitigation strategies before they pose challenges and enable risk-conscious, sustainable business growth for the credit union.
Actively participate as a key member of the Senior Leadership Team, aiding the CEO and team in achieving the Credit Union's strategy and business goals.
Senior Leadership Team:
Participate as a member of the senior leadership team and work cohesively with team members to achieve the standards of excellence and performance required to reach the vision of the credit union.
Provide relevant, accurate, timely, and useful information to support the performance management of all business areas.
Risk:
Develop and implement a comprehensive risk management process for the Credit Union, including a risk management policy setting its approach to risk and risk management.
Assist the CEO in identifying and mitigating risks.
Define risk appetite and tolerance levels in collaboration with the Senior Leadership Team and the Board in line with the credit union's operational resilience tolerances.
Aid the Board of Directors in developing and implementing credit union policies and strategies for risk management.
Evaluate risks by comparing estimated risks with established criteria such as costs, legal requirements, and environmental factors, and evaluate the Credit Union's previous handling of risks.
Foster a strong risk culture by providing strategies, support, education, and training of staff to build risk awareness within the credit union.
Carry out risk assessments of new services and initiatives prior to rollout.
Ensure relevant risk assessments are implemented for any outsourced services or third-party stakeholders utilized by the credit union.
Provide monthly Risk Reports to the Board of Directors, highlighting the most significant risks, emerging risks, and risks outside tolerance levels.
Compliance:
Oversee the compliance function, providing advice and technical expertise to assist with the interpretation and implementation of regulations to allow fellow employees to manage compliance with their relevant regulatory responsibilities and to enhance best practice.
Oversee the production and presentation of reports to external regulatory authorities and ensure proper records are kept and maintained around compliance.
Ensure compliance training programs are delivered in a timely manner for the Credit Union's directors, oversight committee, committee members, employees, and volunteers as required.
Oversee identification and documentation of statutory and regulatory obligations, relevant laws, regulations, rules, guidance notes, and Codes of Practice of the Central Bank handbook as applicable to the Credit Union in conjunction with overall accountability for the Compliance team.
Data Protection
Allocate internal resources for the necessary work identified in order to comply with Data Protection obligations.
Submit quarterly and annual DPO reports to the CEO and Board for consideration.
Escalate identified data protection matters as required to the CEO.
Money Laundering Reporting
Oversee the work of the AMLCO, providing advice and technical expertise to support the maintenance of anti-money laundering policies and procedures.
Ensure that proper and timely reports are provided to the CEO/Board to appraise them of the actions taken and any issues in relation to money laundering, they should be aware of.
Ensure the management of training for all staff and directors is in accordance with the requirements and understand their responsibilities in relation to reporting, record-keeping, and AML policies and procedures.
The above is not an exhaustive list of responsibilities and may be subject to change in line with the overall objectives of the credit union.
Role Requirements:
Qualified to a degree level in finance and/or a business-related degree.
A Risk and Compliance qualification to diploma level is desirable, with a commitment to complete further studies appropriate to the role.
A minimum of 5 years' experience in a risk and/or compliance role or financial services management role with an emphasis on risk, compliance, AML/CFT, or Data Protection.
Self-motivated, experienced working within a senior leadership team, with the ability to lead a Regulations team effectively.
Experience in people development and coaching.
Capable of leading a Board through key issues and facilitating solutions/mitigating actions with them?
in a systematic manner.
Ability to assess and identify risk factors regarding new products and services, outlining practical solutions to enable successful implementation when required.
Capable of organisational influence in leading staff through required changes to better position the credit union in all regulatory matters.
Excellent written and oral communication skills.
Efficient and well organized with exceptional attention to detail, good analytical ability, and demonstrated project management skills.
An understanding of the credit union movement.
The role is a Central Bank Pre-approved Controlled Function (CU-PCF3) and is subject to strict Fitness & Probity obligations.
Shortlisting may apply, and an assessment will be completed based on the information provided in the application.
Applications can be submitted via:
Closing dates for applications is Thursday, the 18th of December ****
Community Credit Union is proud to support a diverse and inclusive workplace.
Community Credit Union is regulated by the Central Bank of Ireland.
Skills:
Risk Management Risk Assessment Risk Analysis Compliance Money Laundering Data Protection
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