Compliance Officer | Bay Federal Credit Union | Santa Cruz, CA (95060) | Apply Now!

📍 Location: Bay Federal Credit Union – Santa Cruz, CA (95060)
💰 Salary Range: $78,206.88 – $97,758.60 Annually + Bonus & Benefits
🏢 Company: Bay Federal Credit Union
📅 Job Type: Full-Time, Permanent

🌟 About Bay Federal Credit Union

Bay Federal Credit Union was founded in 1957 by local school teachers who came together to create a financial cooperative. Over the years, we have grown into the largest locally-owned financial institution in Santa Cruz, Monterey, and San Benito counties, serving thousands of members and businesses.

As a not-for-profit, member-owned financial institution, we are deeply committed to community involvement, financial education, and local economic growth. Our employees actively volunteer, participate in community programs, and serve on non-profit boards, making a real difference in the areas we serve.

If you’re looking to join a mission-driven organization that values integrity, compliance excellence, and community engagement, this is the perfect opportunity!

📌 About the Role: Compliance Officer

As a Compliance Officer at Bay Federal Credit Union’s Santa Cruz, CA office, you will play a critical role in ensuring compliance with federal, state, and local banking regulations. This position requires a deep understanding of risk management, regulatory frameworks, internal controls, and compliance best practices.

You will work closely with senior management and business partners to identify, assess, and mitigate compliance risks while ensuring that risk management practices align with the credit union’s overall business strategy and regulatory requirements.

✅ Key Responsibilities:

• Compliance Risk Assessments: Conduct detailed risk assessments of credit union operations to identify potential compliance risks and implement risk-mitigation strategies.
• Regulatory Compliance Reviews: Perform compliance audits, evaluations, and control testing, providing oral and written reports with actionable recommendations to senior management.
• Policy & Procedure Management: Develop, maintain, and update compliance policies, procedures, and internal controls to ensure regulatory alignment and operational efficiency.
• Regulatory Reporting & Updates: Stay informed on changing laws, regulatory updates, and compliance trends, communicating key insights to credit union leadership and business teams.
• Strategic Compliance Oversight: Work closely with senior leadership and business partners to integrate compliance risk management into strategic planning and business operations.
• Training & Awareness: Partner with the Talent Development team to develop compliance training programs that educate employees on regulatory requirements and best practices.
• Process Improvement & Internal Controls: Ensure that internal compliance controls are developed, tested, and refined as part of new product launches, system updates, and operational changes.
• Collaboration with Auditors & Regulators: Act as a key point of contact for auditors, examiners, and regulatory agencies, ensuring timely and effective resolution of compliance issues.
• Compliance Library & Documentation Management: Maintain a centralized compliance documentation archive, ensuring all policies, procedures, and risk assessments are up to date and easily accessible.
• Community & Member Engagement: Promote a positive image of Bay Federal Credit Union by actively participating in community engagement initiatives, financial education programs, and volunteer efforts.

🎯 What We’re Looking For:

🔹 Required Qualifications:

✔ Bachelor’s Degree in Business Administration, Finance, Accounting, Law, or a related field.
✔ 5-10 years of experience in banking, credit union compliance, or regulatory risk management.
✔ Strong knowledge of regulatory frameworks governing financial institutions, risk management practices, and internal controls.
✔ Experience in Compliance Audits & Risk Assessments – Ability to identify potential compliance risks and develop effective mitigation strategies.
✔ Excellent Analytical & Communication Skills – Ability to evaluate complex regulatory issues, present clear findings, and recommend compliance solutions.
✔ Proficiency in Compliance Software & Risk Analytics Tools – Experience with data analytics tools for compliance tracking and reporting is a plus.

🔹 Preferred Qualifications:

✔ Certified Regulatory Compliance Manager (CRCM) or Compliance Certification is highly preferred.
✔ Legal or Regulatory Experience – Prior experience working with federal and state regulatory agencies, auditors, or compliance review teams.
✔ Familiarity with Credit Union & Banking Regulations – Knowledge of NCUA, CFPB, FDIC, and FinCEN guidelines.
✔ Project Management & Process Improvement Experience – Ability to lead compliance initiatives and enhance risk management frameworks.

🌟 Why Join Bay Federal Credit Union?

💰 Competitive Compensation Package: Base salary $78,206.88 – $97,758.60, plus performance-based bonuses.
📈 Career Growth & Leadership Development: We provide access to industry webinars, leadership training programs, and LinkedIn Learning courses.
🌍 Community Engagement & Volunteer Programs: We actively support local non-profits, schools, and community programs.
📚 Professional Development & Certification Support: Access to career advancement opportunities and compliance certification assistance.
🏡 Hybrid Work Approach: Enjoy the flexibility of remote work with bi-annual in-person staff meetings.
🏆 Award-Winning Workplace:

• Rated #1 Credit Union to Work For (CU Journal)
• Best Places to Work in the Bay Area (SF Business Times/Silicon Valley Journal)

💼 Employee Benefits at Bay Federal Credit Union:

✔ 401(k) Matching: Dollar-for-dollar company match up to 5% of pay.
✔ Annual Bonus Plan: Eligible for performance-based bonus compensation.
✔ Comprehensive Health Benefits: Medical, dental, vision, and long-term disability coverage.
✔ Employee Assistance Program (EAP): Includes 6 face-to-face counseling sessions per issue for employees and household members.
✔ Paid Time Off & Federal Holidays: 11 paid federal holidays per year, plus accrued PTO.
✔ Financial Wellness Programs: Includes scholarship programs, financial education workshops, and savings incentives.
✔ Supplemental Benefits: Options for pet insurance, Aflac, and more.

📅 How to Apply

🔗 Click “Apply Now” to submit your application and join Bay Federal Credit Union in Santa Cruz, CA!

Join a company that values compliance excellence, community impact, and professional growth. Take your career in compliance and risk management to the next level with Bay Federal Credit Union!

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