The New York Credit Union Association recently welcomed Paula Lynch, a shared compliance specialist to credit unions in the Westchester-Rockland Chapter. In her role, Lynch will spend time working on compliance-related matters for Palisades FCU, NorthEastern Engineers FCU, Educational & Governmental EFCU and Ocean Financial FCU, which is based on Long Island.
Lynch, who attended high school in Barbados, is a graduate of St. Francis College in Brooklyn. Prior to joining the Association, Lynch served as a BSA analyst, assistant branch manager and assistant vice president at several large and regional financial institutions.
In her current role, Lynch will spend one week per month in each participating credit union’s office assisting with compliance-related matters.
The shared compliance program was created in 2014 in an effort to address the growing compliance burdens faced by many credit unions. Currently, there are shared compliance specialist operating in credit unions in the Erie-Niagara, Central New York and Westchester-Rockland Chapters.
“The shared compliance program continues to gain momentum at the Association, with three specialists working on-site in participating credit unions on a shared-rotation basis,” said Association Compliance Director Linda Bow. “The most recent specialist, Paula, has already been successful in establishing strong working relationships with her credit unions. She has identified and prioritized their individual regulatory needs and concerns, and she has been able to offer valuable feedback, resources and tools when necessary. We’re happy to have her on board.”
To learn more about the program, contact Bow at email@example.com.