The Lough Credit Union Limited
100 - 103 Bandon Road Cork
Risk (and Compliance) Support Officer
The Lough Credit Union is a member-owned financial services provider on the southside of Cork City that has operated at the heart of its community for over half a century.
With over 13,000 members, assets in excess of €102million and with offices in Bandon Road and Togher, the credit union’s mission is to provide financial services for all its members in a professional manner; “not for profit, not for charity, but for service”.
The credit union is focused on providing those residing, working and studying in its community with a genuine co-operative banking solution, by offering products and services driven by the needs of the membership rather than by profit or corporate interest. At the core of the credit union’s mission is the philosophy and operating principles of the Irish Credit Union Movement.
Risk (and Compliance) Support Officer (Ref LCU RCSO2019)
Contract Status: Part-Time (3 days per week), Permanent Contract
Reporting to: Risk Manager (and Compliance Manager from time to time)
The credit union is seeking to appoint a Risk (and Compliance) Support Officer. Reporting directly to the Risk Manager (and Compliance Manager from time to time), the Risk (and Compliance) Support Officer will perform a range of administrative and reporting activities to support and implement a regulatory, operational and reputational risk based monitoring programme, including maintenance of compliance and risk policies and procedures, that contribute to effective risk and compliance management within The Lough Credit Union.
Working under the guidance of the Risk (and/or Compliance) Manager, the Support Officer will execute the credit union’s annual (compliance and) risk-based monitoring and testing plans. He/she will input into the development and maintenance of compliance, risk and controls, and will collate periodic management information around monitoring, testing, and other relevant operational activities that contribute to the effective running of the credit union.
Principal Duties & Responsibilities will include:
- Implementing the credit union’s annual risk management framework, with a view to continually identifying improvement to risk management processes throughout the credit union,
- Recommending improvements to processes, systems and controls, including required remedial action where weaknesses are identified.
- Assisting the Risk Manager (and relevant staff) in the implementation of systems and controls that manage and mitigate the risks identified by the risk management system.
- Implementing scheduled risk reporting activities, as led by the Risk Management Officer.
- Working with functional teams and external suppliers to ensure complete reporting on the risk profile to the senior management team and the Risk Committee of the Board of Directors.
- Reviewing key performance indicators/metrics and assists management in the early identification of risk trends and reporting same to the Risk Management Officer.
- Developing strategies to assist the Risk function to mitigate/manage identified risks.
- Partnering with relevant staff to prepare risk self-assessments including analysis of stated controls, identifying gaps and creating action plans.
- Creating and delivering presentations to the Senior Management Team (and the Risk Committee) for risk reporting, training, etc.
- Contributing to annual planning for risk management activities, budgets and resources
- Working with the credit union team to ensure application of sustainable and repeatable processes and procedures to facilitate:
- compliance with laws and regulations
- economies of scale
- Compliance: Under the guidance of the Compliance Manager, implementing the necessary initiatives and plans to monitor and control risk and maintain compliance, including contributing to the annual compliance plan, incorporating new regulatory/legislative requirements into compliance standards, policies and procedures, assisting the Compliance officer in identifying and assessing potential compliance issues, maintaining a log of compliance breaches, reviewing all documentation to ensure compliance, promoting compliance awareness, ensuring continued compliance with GDPR, anti-money laundering and terrorist financing requirements, and ensuring the credit union’s compliance framework is kept up to date.
The successful candidate will have:
• Previous experience in a risk, compliance or regulatory role within a Financial Services environment,
• Good knowledge of regulation and of the rules and guidance procedures set by the Financial Regulator
• Ability to work effectively with other team members
• Highly motivated, with a proven ability to work on own initiative within a challenging and dynamic work environment
• Good communication (both spoken and written) and people skills
• Demonstrated planning, project management, networking and influencing skills
• Strong IT skills (Microsoft applications - Word, Excel, PowerPoint, Access).
• A Third level qualification in a related area (or equivalent experience)
• An understanding of the credit union sector in Ireland (desirable).
• Be willing to undertake training to achieve ‘minimum competence’ requirements, as set by the Central Bank of Ireland for the credit union sector, which may be amended from time to time.
How to Apply:
The complete role description for the position can be downloaded by visiting: www.loughcu.ie, and click on ‘Blog’
Applicants should state clearly the reference number for the position i.e.:
Risk (and Compliance) Support Officer: LCU RCSO2019
Applications should include a cover Letter and CV and can be sent as follows:
- By Email: firstname.lastname@example.org, or
- By Hard copy, marked for the attention of Jamie O’ Leary, CEO, The Lough Credit Union Limited, 100-103 Bandon Road, Cork.
- Closing Date for Applications: 5pm, Friday, 26th July 2019.
To access the credit union recruitment privacy notice, please visit: www.loughcu.ie, and click on ‘Blog’
The Lough Credit Union Limited is an Equal Opportunities Employer.
Canvassing will disqualify.
The Lough Credit Union Limited is regulated by the Central Bank of Ireland