Sr. Compliance Analyst

Position Summary

This position reports to the Compliance Monitoring and Testing (CMT) Manager and is responsible for developing testing programs and work papers, monitoring, evaluating, and testing controls of lending operations and products to monitor compliance with all applicable state and federal regulations. 

Senior Analysts are responsible for the execution of tests as assigned within the Compliance Testing Program, as well as assisting in the program’s continued development and enhancement to monitor regulatory requirements.  The scope and type of testing assignments will vary based upon identified risk and the Department’s yearly Risk Assessment of the Company.  They will also test controls implemented due to issues raised both within the Department and other areas of the Company. 

The person in this position must be able to effectively identify and communicate federal and state laws, contractual requirements, and administrative rules.  They must be able to identify and communicate areas of risk while being able to differentiate between Compliance and Operational risk.  They should be able to build effective relationships with management personnel from all areas of the Company.

As part of the Corporate Compliance Department, Senior Analysts assist in ensuring that the Compliance Testing Program is consistent with the corporate goals and strategic objectives.  They may be required to perform other tasks as needed and assigned and performs all duties with minimal supervision.

Job Responsibility

• Evaluate state and federal laws and regulations, the risk assessment, and other applicable areas to assess the company’s obligations.
• Prioritize obligations to determine items that should or should not be in the test scope.
• Develop comprehensive testing programs and electronic work papers and determine sampling methodologies.
• Lead specific projects in an organized manner, assist, monitor and provide feedback on other analyst’s work, prioritize and move multiple items forward in a timely manner to adhere to timeline deliverables.
• Document electronic work papers and programs and prepare manual documentation to support any issues identified.
• Draft reports and other correspondence to provide to management clearly describe the risk identified.
• Collaborate with management on mitigation of risks.
• Support the CMT Manager on special projects.
• Utilize independent judgment to initiate and complete tasks pertinent to the company. Develop working relationships with various management personnel and corporate personnel.
• Conduct meetings with corporate or non-corporate personnel, with assistance from Sr. Compliance Analysts or CMT Manager as needed.
• Contribute to the ongoing maintenance and improvement of the company’s Compliance Testing Program.
• Able to manage multiple projects and meet deliverable dates.

Job Responsibilities Cont.

Education Required

Bachelor’s degree is required.  This requirement may be waived in lieu of required job experience and financial regulatory compliance education/certification.

Experience Required

3-5 years of previous audit experience (such as financial, retail, or banking), 3-5 years of financial compliance testing required, and/or 3-5 years of financial regulatory compliance, or consumer credit compliance experience.

Knowledge Required

Excellent written and verbal communications skills; clear and concise correspondence; adaptability and flexibility to changing environment; and comfortable working in a dynamic, high volume, fast-paced environment.  Able to understand and comply with policies, procedures, and has a good comprehension of laws governing our industry/business and products.  Able to effectively identify risk and report it in a clear and concise manner.  Has strong organizational and prioritization skills, is detail oriented and produces consistently accurate testing results.  Able to develop and maintain business relationships.

Strong Microsoft Word and Excel knowledge.  Broad knowledge of corporate compliance programs including risk assessments, testing, and monitoring, training, and policy.  A strong understanding of financial regulations (such as ECOA/Regulation B, SCRA, FCRA, FDCPA, TCPA, TILA/Regulation Z, GLBA/Regulation P, EFT/Regulation E, BSA/AML/OFAC, UDAAP) and NACHA rules.  Knowledge of state laws governing Installment, Payday, and Line of Credit loans a plus.

Knowledge and Skills Preferred: Experience with AI-powered compliance tools and data analytics platforms to enhance testing efficiency and identify patterns in large datasets. Familiarity with implementing AI-based monitoring solutions for regulatory compliance purposes. Experience with bank audit procedures and knowledge of banking regulations including BSA/AML compliance, FCRA requirements, and Federal Reserve/FDIC/OCC examination processes. Understanding of banking operations and associated compliance requirements.

Physical Requirements

Sitting for long periods of time; standing occasionally; walking; bending; squatting; kneeling; pushing/pulling; reaching; twisting; frequent lifting of less than 10 lbs., occasional lifting of up to 20 lbs.; driving and having access during the workday to an insured and reliable transportation; typing; data entry; grasping; transferring items between hands and/or to another person or receptacle; use of office equipment to include computers; ability to travel to, be physically present at, and complete the physical requirements of the position at any assigned location.

Competencies

Travel

Minimal, less than 10%

Attire

Business Casual

Other

Must be eligible to work in the USA and able to pass a background check.