Compliance Analyst (Banking) jobs in Sumter, SC

SUMMARY

Under the supervision and oversight of the AVP of Compliance, the Compliance Analyst is responsible for assisting and supporting the credit union in the execution of the Compliance Management System (“CMS”) including, completing annual risk assessments, performing compliance monitoring and testing, determining degrees of compliance, identifying regulatory risk issues, and providing subject matter expertise, guidance, and technical assistance. The Compliance Analyst will act as a back-up for the other Compliance Analysts. This position prioritizes deposit and operations compliance activities toward areas identified as having the highest levels of legal and regulatory risk to the credit union.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Aids the AVP of Compliance in reviewing and analyzing regulatory proposals and/or updates impacting credit union employees, policy and/or procedures.

• Leads designated compliance reviews and documents and supports compliance findings. Drafts compliance reports and communicates findings to management.

• Identifies, develops, and delivers employee training on compliance policies and procedures (to include all aspects of deposit operations, CIP, Identity Theft etc.) to ensure proper understanding of regulatory-related risks and responsibilities.

• Provides compliance-related guidance and support to various business units (including assisting in the development of sufficient internal controls to promote compliance control environment).

• Assists in the review and recommendation of department policies and procedures to ensure compliance with applicable laws and regulations to include disclosures for compliance prior to implementation.

• Regularly responds to employees regarding questions on compliance issues with appropriate, risk-based, and properly supported guidance, using legal and regulatory reference materials, regulatory agencies, outside legal counsel, and professional associations and organizations, as appropriate.

• Assists in the development, review, creation, and completion of risk assessments based upon FFIEC, NCUA, EFTA and other laws and regulations as applicable including performing periodic risk assessments of business and operational activities to identify compliance gaps and potential exposure.

• Assists in the identification and mitigation of potential areas of online banking and deposit operations related compliance vulnerability and risk proactively; including assisting in the development of corrective action plans for resolution of problematic issues and providing general guidance on how to avoid or deal with similar situations in the future positioning the credit union as a strong compliance-oriented financial institution.

• Supports product development and process change management by participating in meetings with project teams to ensure compliance with regulations and internal policies and procedures, as applicable.

• Conducts investigations of alleged compliance violations under the Consumer Complaint Program and escalates to management as needed. Responsible for FCRA and Identity Theft case management.

• Supports the Power of Attorney (“POA”) program by providing quarterly reporting, annual training to employees authorized to approve POAs, and guidance to staff.  

• Completes research and prepares documentation to respond to information requests from law enforcement agencies (NPI Requests).

• Acts as a liaison with law enforcement (federal, state, and local) and social service agencies by providing detailed information and attends court hearings as needed.

• Assists with additional reporting, tracking, documenting, and processing work in the department using various Symitar products, JIRA, and others.

• Research and respond to deposit and operations related issues and compliance questions from employees, using legal and regulatory reference materials, regulatory agencies, outside legal counsel, and professional associations and organizations, as appropriate.

• Assist in reviewing new deposit, electronic, online, emerging, and alternative payment related products, services, and disclosures for compliance prior to implementation.

• Elevates issues to the attention of the AVP of Compliance and/or CRO timely.

• In addition to the above key responsibilities, undertake other duties as assigned from time to time by the AVP of Compliance and/or CRO.

SUPERVISORY RESPONSIBILITIES

None.

PERFORMANCE STANDARDS

Display excellent written and verbal communication skills when interacting with senior management, the Board of Directors, the Supervisory Committee, all personnel, members, auditors, and examiners. Maintain professional composure, objectivity and fairness when dealing with conflicts and sensitive matters. Display attention to detail, ability to multi-task and meet established deadlines. Exhibit sound judgment, critical thinking and problem solving skills. Maintain collaborative relationships with all departments. Demonstrate professional care and the highest standards of professional competency. Support a strong sense of teamwork and commitment to mentoring and serving others.

QUALIFICATION REQUIREMENTS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Regulatory Requirements: Your position has specific procedures that must be followed to comply with Privacy Act, Office of Foreign Assets Control (OFAC), and Bank Secrecy/Patriot Act. You will receive annual training to keep you current on any changes to these policies/procedures to assure compliance. Failure to comply with procedures may cause termination of your position as well as possible monetary penalties from the federal regulatory agency.

EDUCATION AND/OR EXPERIENCE

Bachelor’s degree or equivalent work experience.

Minimum of five (5) years prior financial institution, or similar experience in related.

Minimum of three (3) years prior consumer compliance experience, or similar experience in related field.

Minimum of two (2) years of deposit and payments compliance experience, or similar experience in related field.

Extensive knowledge and understanding of financial institution deposit operations, payments and electronic banking activity and other banking functions. Experience with NACHA, Reg E, Reg D, Reg CC, Reg DD, Privacy Act, the E-Sign Act requirements, NCUA Insurance regulations, overdraft guidance, garnishments and state escheat laws required.

Knowledgeable of compliance laws, rules, regulations (with a special emphasis on consumer protection regulations), such as UDAAP, FCRA, and any other regulations.

LANGUAGE SKILLS

Ability to read, analyze and interpret and communicate regulatory information and technical procedures relating to a credit union operation. Ability to write reports, business correspondence and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, directors, employees, and members as required.

MATHEMATICAL SKILLS

Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.

REASONING ABILITY

Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret a variety of regulatory and technical instructions in abstract and concrete variables.

CERTIFICATES, LICENSES, REGISTRATIONS

• NAFCU Certified Compliance Officer (NCCO) or CUNA Credit Union Compliance Expert (CUCE) designation preferred. Designation will be obtained within three (3) years from date of hire if certification not already held. In addition, the following is required:
• Must obtain Payment’s designation. Designation will be obtained within two (2) years from date of hire if certification not already held.
• Must attend in-house e-Oscar training within three (3) months of date of hire.
• Must watch NCUA Fraud Video Series within six (6) months of date of hire
• Must attend at least four (4) PALS classes within four (4) years of date of hire.

OTHER SKILLS and ABILITIES:

Ability to operate a PC to access the credit union's accounting system, member account information, spreadsheets, and on-line is required. Basic input, output, error correction, general ledger account structure knowledge essential to be able to perform the job is required.

Basic proficiency in Microsoft Office (Work, Excel, Power Point and Outlook) is required. Annually complete and achieve passing scores on various SAFE FCU Policy, Procedure, Development and Enhancement Curriculum.

PHYSICAL DEMANDS

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 talk or hear. The employee frequently is required to use hands to finger, handle, or feel objects, tools, or controls. The employee is occasionally required to stand, walk, reach with hands and arms, climb or balance and stoop, kneel, crouch or crawl.

Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception and the ability to adjust focus. Occasionally lift/and or move up to 35 pounds.

WORK ENVIRONMENT

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 low to moderate.

MENTAL DEMANDS

The mental characteristics necessary to competently perform this job include the need to occasionally use basic and complex numeric calculations, persuasiveness, and creativity, to frequently use resourcefulness and problem solving and to continuously use analyzing skills.