Sr. Compliance Analyst 1
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
- Conduct standardized periodic compliance oversight reviews in accordance with the Compliance Review Schedule including the issuance of findings reports to department and senior management regarding completed audits.
- Assist Compliance management with root cause analysis of compliance exceptions noted during oversight reviews.
- Establish testing and monitoring protocols to assess and measure operations compliance with legal and regulatory requirements and identify defects and deficiencies requiring corrective action.
- Ensure material compliance issues identified by any means and through any source related to lending and/or deposit operations are recorded, tracked, and reported to ensure their appropriate and timely resolution. Conduct follow-up audits of corrective actions as necessary to ensure recommendations implemented appropriately.
- Prepare, deliver, and effectively communicate analysis and reporting regarding lending and / or deposit operations compliance to oversight committees and management.
- Assist with the development, implementation, and maintenance of the Company’s Compliance Management System. Ensure that policies, procedures, and programs comply with applicable regulatory requirements and mitigate the risk of non-compliance.
- Assist with the assessment of all regulatory risks related to lending and / or deposit operations, including identifying gaps in controls, highlighting areas of highest risk, and developing appropriate risk mitigation strategies.
- Assist in completing Compliance Risk Assessments and Risk Control Self Assessments in accordance with Compliance Department processes.
- Assist Compliance Management with change management reviews of new products, processes, and initiatives for compliance with applicable federal and state regulations, statutes, and guidance.
- Provide advertisement approvals for marketing initiatives.
- Assist with preparation of examination or audit materials as needed.
- Develop a thorough understanding of procedures for all areas of responsibility.
- Develop knowledge of all compliance regulations within the assigned area of specialty.
- Assist with the preparation of examination materials as needed.
- Maintain a working knowledge of compliance requirements affecting your position and area of responsibilities and actively learn new regulations and assist in the implementation, if required.
- May assist with the following:
-Editing and filing the HMDA LAR
-Reviewing flood determinations and appraisals and advising on flood insurance
-Monitoring the resolution of credit bureau disputes via the ACDV / AUD functions in e-OSCAR
- Willingly perform all other duties and projects as assigned
May directly supervise employees in the compliance department. Carries out supervisory responsibilities in accordance with the organization’s policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.
EDUCATION and/or EXPERIENCE
- Bachelor’s degree in business, finance, statistics, economics, or equivalent and relevant work experience.
- The ideal candidate will have at least four (4) years of related experience in consumer compliance, risk management, process improvement, audit or the legal field related to commercial lending, consumer lending or another highly regulated field relating to financial services.
- Strong working knowledge of consumer protection laws and regulations and associated risks, and the internal controls needed to mitigate those risks.
- Strong communication skills and the ability to influence decisions and drive change.
- Self-starter with the ability to think independently, take ownership, and drive initiatives to resolution.
- Solid analytical, problem solving, and critical thinking skills
- Ability to handle multiple priorities and rapid changes.
- Professional certifications(s) such as Certified Regulatory Compliance Manager (CRCM) or completion of specialized training in compliance or applicable certifications (e.g., ABA Graduate School of Compliance Risk Management, Commissioned Federal Bank Examiner, etc).
- A Master’s degree, Juris Doctorate (JD), or another advanced degree.
Ability to read, analyze, and interpret general business periodicals, professional journals, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.
Ability to work with mathematical concepts such as probability and statistical inference. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.
Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions and deal with several abstract and concrete variables.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit. The employee frequently is required to talk or hear. The employee is occasionally required to stand, walk, and reach with hands and arms. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, and ability to adjust focus.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually very quiet.