What are the responsibilities and job description for the Deposit Quality Assurance Associate position at Live Oak Banking Company?
About Us
Live Oak Bank is a digital bank that serves small business owners across the country. Our groundbreaking spin on service and technology has fueled our mission to be America’s Small Business Bank. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak, we never lose sight of the well-being of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream.
How This Role Impacts Live Oak and its People
We are on a mission to be America’s small business bank. Our deposits help fund loans for small businesses across the country. As a Deposit Quality Assurance Associate, you help fuel the growth of small businesses. The Deposit Quality Assurance Associate supports the compliance, risk, and governance functions of the Deposits team as it undergoes a multi-year expansion of products, services, and technology.
The Deposit Quality Assurance Associate is a designated essential employee and may be required to be available after hours, and to work either in the office or remotely during inclement weather or a disaster scenario.
What You’ll Do at Live Oak
Monitor reporting and critical areas of operations for accuracy, consistency, and compliance to mitigate regulatory and operational risk
Conduct sampling and testing of operational workflows to ensure effectiveness of controls
Assist with tracking, review, and execution of risk management strategies and key internal controls
Conduct periodic reviews and assist with maintenance of written policies and procedures
Collaborate and provide reporting and feedback to management pertaining to quality assurance assessments and process improvements.
Maintain current knowledge of business processes, regulations, and upcoming regulatory changes
Assist with preparation and facilitation of audit and examinations.
Analyze and interpret data to monitor trends and root causes. Partner with managers to proactively address issues.
Assist with testing and preparation for new products and services.
How You’ll Do It
Possess deep understanding of business process and regulatory requirements
Demonstrate attention to detail with a high degree of accuracy
Display strong initiative with ability to meet deadlines and accomplish objectives with minimal supervision
Demonstrate ownership of the quality assurance function within Deposits
Exercise strong organizational, time management, interpersonal, communication, and critical thinking skills
Follow regulatory requirements including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the identification, detection, and determent of money laundering or other unlawful activities
Required and Preferred Experience
3 years in financial services with a focus on deposit operations, customer service, or compliance required
Bachelor’s degree or equivalent industry experience required
Knowledge of banking regulations required
Our Values
Dedication: Possess a deep commitment to Live Oak Bank’s mission and core values, exemplified through a strong work ethic, adaptability and pride in your work.
Ownership: Take initiative to deliver positive results by proactively and creatively solving problems, while maintaining a high degree of quality.
Respect: Treat everyone wi.th courtesy, politeness, and kindness.
Innovation: Embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems.
Teamwork: Foster collaboration, accountability, and trust with others and understand that together, we do more
For a detailed overview of our employee benefits please visit: https://www.liveoakbank.com/corporate-social-responsibility/live-oak-bank-employees/
Live Oak Bank is an Affirmative Action and Equal Opportunity Employer, Minorities/Women/Veterans/Disabled. We consider applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, veteran status or disability. Equal access to programs, service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and/or interview process should notify human resources at careers@liveoak.bank
EEO is the Law
Commitment to Diversity
Live Oak Bank is committed to creating and maintaining a workplace in which all employees have an opportunity to participate and contribute to the success of the business and are valued for their skills, experience, and unique perspectives. This commitment is embodied in company policy and the way we do business at Live Oak Bank and is an important principle of sound business management.
Please note that we provide at least the minimum requirement of paid sick leave to our employees who reside in states that require employer-paid sick leave, including but not limited to Arizona, California, Colorado, District of Columbia, Maine, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, and Washington.
Salary : $19 - $31