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JOB TITLE: Risk & Compliance and AML Officer
CONTRACT TYPE: 11 Month Full Time Fixed Term Contract (Maternity Cover)
REPORTING TO: CEO
LIAISON WITH: Credit Union CEO
Credit Union Employees
Board of Directors
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 €106 million 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.
GENERAL SCOPE OF ROLE:
The primary focus for a Risk & Compliance and AML Officer needs to be the identification and
mitigation of risks within the separate function areas.
The purpose of risk management is to safeguard the credit union, its members, reputation, assets,
and the interests of stakeholders by identifying, assessing and managing all threats to the
achievement of its business objectives. Risk Officers work to identify and reduce threats and will
implement strategies and plans to avoid future risks and to design contingency plans if things go
wrong, deciding how to avoid, reduce or transfer risks.
This position will support the Risk Department where experience in the credit union or financial sector
is desirable along with some previous experience or knowledge of the Anti-money laundering, Risk
and Compliance environments.
MAIN DUTIES:
Risk Officer Duties:
Planning, designing, and implementing an overall risk management process for the credit
union, including the development and implementation of a risk management policy setting out
its approach to risk and risk management;
Assisting in the development and implementation of the credit union policy and strategy for
risk management;
Carrying out regular risk assessments and control testing across the credit union, which
involves analysing risks as well as identifying, describing and estimating the risks affecting the
business;
Evaluation of risks, which involves comparing estimated risks with criteria established by the
credit union such as costs, legal requirements and environmental factors, and evaluating the
credit union’s previous handling of risks;
Reporting risks in an appropriate way to the board of directors so they understand the most
significant risks; to management to ensure they are aware of risks relevant to their parts of the
business; and to individuals to ensure they understand their accountability for individual risks;
Providing support, education and training to staff to build risk awareness
Organise appropriate risk reporting, internally and externally;
Assist the risk owners in completing risk assessments and mitigation plans.
Lead monthly review meetings with team leaders to assess operational risk
Compliance Related Duties:
To foster and promote a compliance risk culture within the credit union
Implement and develop the compliance system to ensure that all elements of relevant
products and services offered to members by the credit union are being carried out in
accordance with relevant laws, regulations, policies and procedures, rules and Codes of
Practice, and in line with industry best practice.
Identifying all statutory and regulatory obligations applicable to the credit union
To ensure the requirements of the compliance system are implemented and adhered to on an
on-going basis, and to ensure relevant issues are effectively reported
Provide advice to the Board of Directors, Management and Staff on compliance laws, rules
and standards and provide appropriate management information on a regular basis or as
required.
To monitor changes to legal, regulatory and industry environments on an on-going basis and
assess impact on the business and provide advice and appropriate documentation for the
credit union to ensure compliance.
To devise internal compliance audit procedures and ensure their implementation.
To investigate cases of non-compliance within the credit union
To prepare and oversee the implementation of the Compliance Plan and the Annual
Compliance Statement.
AML Compliance Officer
Assist with the testing, monitoring and review of anti-money laundering process
Assist with the review and updating of policy & procedures to reflect changes to the business
model and regulatory updates
Liaise with the Operations Officer and Training Officer with the development of a training
program and internal communications
Review and assess STR and level of compliance with CDD and KYC within the Credit Union
Assist in the review of the AML risk assessment and mitigation plan
General:
To ensure audit and regulatory recommendations are implemented within the stated
deadlines. Act as the main point of contact for internal audit.
To produce and present regulatory reports as required.
To ensure adequate records are kept and maintained around Risk, AML and Compliance
To deputise for the Risk Manager which is a CUPCF role
Ensure the highest standards of confidentially are maintained at all times
Attend and contribute to Management Team meetings when required, general staff meetings
and if necessary, Board and or committee meetings.
Any other duties as assigned by the Risk and Compliance Manager, Board of Directors or
CEO
The skill set for this job will include:
Background in financial services ideally with 3 years working in a similar role
Excellent communication and presentation skills.
Strong influencing skills
Methodical, detailed focused individual.
Analytical skills and problem-solving skills are needed to identify potential risks and come up
with appropriate responses
Persistence, an eye for detail and ability to complete projects and keep to deadlines
A knowledge and understanding of the credit union movement would be a distinct advantage
including risk affecting credit unions.
How to Apply:
Applications should include a cover Letter and CV and can be sent as follows:
o By Email: catriona@loughcu.ie or
o By hard copy, marked for the attention of Catriona O’Regan, The Lough Credit
Union Limited, 100-103 Bandon Road, Cork.
Closing Date for Applications: 5pm, Monday 1 st November 2021.
To access the credit union recruitment privacy notice, please visit: www.loughcu.ie
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
The Lough Credit Union
Marketing and Business Development 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 €106 million 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.
Marketing and Business Development Officer
Contract Status: 30 hours Part Time, Permanent Contract
Reporting to: CEO
The credit union is seeking to appoint a Marketing and Business Development Officer.
Reporting directly to the CEO, he/she will be responsible for identifying opportunities
and building relationships that result in both active membership growth and increased
lending, in accordance with the credit union’s business objectives.
More specifically, he/she will have responsibility for:
Developing the Lough Credit Union’s online lending services and products
Developing and promoting The Lough Credit Union via its website and social
media platforms
Developing innovative promotion and marketing campaigns
Assisting in the business development of the Lough Credit Union through visits
to businesses and organisations within the common bond
Developing the Lough Credit Union brand and visibility with new events and
partnerships in the community
Coordinating and participating in all School and Community campaigns
Developing the annual marketing plan with appropriate metrics and
implementing same
The Person:
The successful candidate will have:
Excellent IT skills, with prior social media/digital marketing experience
(desirable)
Previous experience in Marketing and in Business Development
Ability to work effectively with other team members
Strong interpersonal and communication (both spoken and written) skills
Good Presentation Skills
Previous community involvement (desirable)
An understanding of the credit union sector in Ireland (desirable)
Previous experience in credit unions or equivalent experience (desirable)
How to Apply:
Applications should include a cover Letter and CV and can be sent as follows:
o By Email: jamie.oleary@loughcu.ie, or
o 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, 29 th October 2021.
To access the credit union recruitment privacy notice, please visit: www.loughcu.ie
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 Irelan