Chief Financial Officer. Risk & Compliance Manager Fixed Term

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1 Position Description RISK & COMPLIANCE MANAGER Fixed Term Branch: Hastings Department: Risk & AML Reports to: Chief Financial Officer Date: PURPOSE OF POSITION This role is a fixed term position to supply cover for the duties of the Risk and Compliance Manager and complete assigned project work. These duties and projects include: Maintain oversight of organisational risk policies, including procedures to identify and manage potential risks and address risk gaps. Make recommendations to the Banking Operations Team regarding policies and procedures to appropriately improve NZCU Baywide s risk position. Maintenance of regulatory and risk related documents and the day-to-day aspects of the risk management programme. Review the existing risk management framework, scope needs, investigate solutions, form a recommendation, and implement risk management software. Assist the Anti Money Laundering programme as required. Undertake a review of the transaction monitoring system to maximise rule efficiency and ensure these are appropriately transferred to the new Flexcube banking platform. Refer matters as appropriate to internal audit for investigation to manage key risks, respond to internal audit non-compliance issues, and proactively initiate action to prevent repeat occurrence and minimise risk POSITION IN ORGANISATION Chief Executive Chief Financial Officer KEY RESULT AREAS KRAs Enhanced and maintain the Risk Management Framework to improve NZCU Baywide s Risk position Risk & Compliance Manager Fixed Term Standards of Measure/Expectations: Support Chief Financial Officer to provide risk and compliance expertise Assess and identify risks in business as usual activities, as well as risks relating to external market influences and key projects. Risk analysis and reporting is provided to the Management Risk Committee, identifying risk and recommendations for improvement. Evaluate and coordinate agreed changes in relation to non-complying internal audit issues relating to internal systems and policy. Work with the management team to ensure the staff compliance programme is maintained and monitored. Maintain an in-depth knowledge of other relevant risk related legislation affecting the organisation. November 2015 Page 1 of 5

2 Achieve compliance with the AML-CFT Act Maintain NZCU Baywide s Risk Assessment and AML-CFT programme documentation and ensure it is current at all times. Monitor key money laundering and terrorism financing controls and make enquiries into operational practices (e.g. training programmes) and incidents in order to asses to the ongoing compliance (or otherwise) of NZCU Baywide within the AML-CFT programme. Oversee the management of all regulatory matters (e.g. questions, investigations, reporting) concerning money laundering and terrorism financing to the AML Support team. Draft the annual AML-CFT review report for the Reserve Bank of New Zealand. Facilitate the effective operation of the Management Risk Committee on AML-CFT matters. Support the oversight of specific Customer Due Diligence (CDD). Identity verification tasks where these are not performed by branch staff (e.g. Investigation of Drivers Licence verification anomalies). Monitor and enhancing the quality of CDD information captured by branch or support staff. Review of money laundering and terrorism financing training. Support the oversight of ongoing customer due diligence, including transaction monitoring, and gathering of money laundering related financial intelligence. Quantitative and qualitative reporting on Suspicious Transaction Reports generated; and nature and level of unusual transactions detected and investigated. Ensure internal audit carries out independent oversight of AML-CFT programme related compliance. Completion of assigned project work Successful completion of projects assigned in a timely and accurate manner. Examples of projects include but are not limited to: o Review of the existing Risk Management Framework, scope needs, form a recommendation, investigate solutions, and implement risk management software; o Review of the existing Internal Audit Framework, identify gaps and enhancements and form a recommendation for ARC consideration; o Support the operational internal auditor in completing a review of the existing internal audit programme; o Review of Transaction Monitoring rules within the Wynyard system and assist their transition to Flexcube; o Review of existing Business Continuity Plan, consider opportunities to enhance including sourcing of external support/testing of BCP. Carry out the duties of the Privacy Officer Legislative knowledge and other industry activity Fulfil the role of NZCU s Baywide Privacy Officer through: o Central point of contact for privacy matters; o Monitoring of privacy trends; o Coordination of privacy responses; and o Reporting of privacy matters. Review of privacy training modules for both management and frontline staff. Assist Chief Financial Officer to identify new legislation or industry activity that may impact the organisation. Maintained a strong knowledge and awareness of relevant legislation impacting the Credit Union. Liaises with other Credit Unions/similar industry to establish possible responses. Page 2 of 5

3 Reports on same and makes recommendations for suitable responses or activity. Researches matters which may affect the future of the organisation or industry. Reports on same to relevant groups. Other Undertake key projects as required by Chief Financial Officer within agreed timeframes either as project champion, team member or expert advisor. Lead by example in fostering a positive working relationship between branch and support office. Customer (internal staff and external) queries are followed through in a timely manner that ensures closure. Health, Safety & Security regulations understood and complied with to ensure hazards are identified and accidents prevented. Other duties willingly performed as required. Note: These duties may change from time to time to meet operational or other requirements. PERSON SPECIFICATIONS (To be used when recruiting only) SKILLS, KNOWLEDGE & ATTRIBUTES REQUIRED Essential Strong knowledge of risk management strategies, philosophies and techniques. High levels of computer literacy including an understanding of Microsoft Office products. Ability to effectively prioritise and execute tasks in a high pressure and demanding environment. Desirable Tertiary qualification in a relevant field (business, finance, IT) 3-5 years experience in a project management capacity Previous leadership experience with proven success developing staff. Outstanding communication and influencing skills, both written and oral Strong understanding of internal and external audit function. Strong analytical and report writing skills Good working knowledge of the Credit Union movement and philosophy Experience at working both independently and in a team-orientated, collaborative environment Resilient with the ability to work under pressure. Demonstrated ability to build and maintain relationships with key stakeholders, including strengths in influencing, conflict management, and negotiation. Sound understanding of the financial services sector and the regulatory environment in which it operates, including good working knowledge of relevant legislation 3 years experience at senior level in the banking or finance industry. Page 3 of 5

4 KEY BEHAVIOURAL COMPETENCIES The behaviours essential to achieve effective performance in the role are: Motivating others Creates a climate in which people want to do their best Can motivate many kinds of direct reports and team or project members Can assess each person s hot button and use it to get the best out of him/her Empowers and develops others Invites input from each person and shares ownership and visibility Is a person that people like working for and with. Planning Accurately scopes out length and difficulty of tasks and projects Sets objectives and goals Breaks down work into the process steps Develops schedules and task/people assignments Anticipates and adjusts for problems and roadblocks Measures performance against goals and evaluates results. Managing and measuring Clearly assigns responsibility for tasks and decisions Sets clear objectives and measures Monitors process, progress and results Designs feedback loops into work. Process Management Good at figuring out the processes necessary to get things done; knows how to organise people and activities Understands how to separate and combine tasks into efficient work flow Knows what to measure and how to measure it Can see opportunities for synergy and integration where others can t Can simplify complex processes; gets more out of fewer resources. Customer Focus Is dedicated to meeting the expectation and requirements of internal and internal customers Gets first hand customer information and uses it for improvements Acts with customers in mind Establishes and maintains effective relationships with customer and gains trust and respect. Balance the needs of others with the business need for cost effectiveness Analytical thinking Understand and analyses both simple and complex issues Perceive the wider impact of issues on the immediate business environment Generate alternative approaches to problems Assimilate data and explore options from different perspective s to make effective judgments Reach objective conclusions about both people and situations Page 4 of 5

5 KEY RELATIONSHIPS People Management Responsibility: Number of Direct Reports: Nil Number of Indirect Reports: Nil External contacts Auditors both external and internal Coop Money NZ Other credit unions and financial institutions Members Internal contacts Board of Directors Executive Management Team Senior Management Team Branch Managers Operational (internal) Auditor TARGETS To be set in discussion with Chief Financial Officer Page 5 of 5