Risk & Compliance Officer-Ballincollig CU Limited

Address: Credit Union House, Harrington St., East End Ballincollig, Co. Cork

Job Title: Risk & Compliance Officer

Reporting to: Board of Directors / Internal Audit Function

Fixed Term Contract

Ballincollig Credit Union Limited is a progressive community-based credit union based in Ballincollig Town Centre with 19000 members with €67m in assets.

Reporting to the Board of Directors, this position is a new appointment on a 6 month fixed-term contract (90 hours per month).  The position results from new regulatory requirements recently introduced for credit unions.


a)       Fostering and encouraging a culture of compliance in the credit union;

b)       Advising the board of directors on new and impending statutory and regulatory requirements and guidance;

c)        Developing and documenting the compliance policy;

d)       Developing and implementing an annual compliance plan including systems and controls to ensure the credit union complies with statutory and regulatory requirements and guidance;

e)       Monitoring the activities of the credit union under the compliance plan and reporting to the board of directors on a regular basis, at least quarterly;

f)        Monitoring the systems and controls in place to ensure officers comply with any applicable individual legal and regulatory requirements and guidance (for example, the Minimum Competency Code 2011 and the Fitness and Probity regime for credit unions);

g)       Reporting compliance exceptions and breaches to the board of directors and the manager;

h)       Updating the compliance policy and plan to take account of new or updated compliance requirements (including new or updated legal and regulatory requirements and guidance) new products and services, material modifications to existing products and services and major management initiatives;

i)         Supporting directors in meeting their compliance requirements under section 55(1)(m) of the 1997 Act;

j)         Supporting the manager in their compliance responsibilities under section 63A of the 1997 Act;

Risk Management

a)       Ensuring each internal/external risk of the credit union is identified, assessed, reported and monitored and assisting the manager with managing and mitigating those risks;

b)       Advising the board of directors on the risk management policy and process and any deviations from the risk management policy;

c)        Reporting on any significant risk event to the board of directors in a timely manner;

d)       Implementing the risk management system approved by the board of directors;

Maintaining the risk register;

e)       Providing training and support in the area of risk management to officers of the credit union;

f)        Supporting the board of directors in promoting a culture of risk awareness, identification and management at every level within the credit union

The successful candidate will have:

  • A Level 8 Honours Degree in a related discipline (e.g. law, business, accounting, finance);
  • A relevant professional qualification in compliance and/or risk management (e.g. from the ACOI, IOB, LIA or PRMIA)
  • A minimum of 3 – 5 years’ experience in a financial services environment working in a risk management/compliance role or a related discipline such as internal audit, and;
  • A strong knowledge of the regulatory framework for credit unions, including a familiarity with the Central Bank’s PRISM framework.

Remuneration will be highly competitive and commensurate with qualifications and experience.

Ballincollig Credit Union Limited is an Equal Opportunities Employer. Canvassing will disqualify.

Ballincollig Credit Union Limited is regulated by the Central Bank of Ireland


Please forward, Cover Letter and CV in confidence, FAO , Secretary  Board of Directors or  preferably by email, to secretary@bcu.ie. Post to arrive on or before Monday, 23rd January 2017.

Closing Date for Applications:  Monday 23rd January 2017