What are the responsibilities and job description for the Deposit Compliance Analyst position at United Fidelity Bank?
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Job Summary:
The Deposit Compliance Analyst plays a crucial role in supporting the bank’s Compliance Management System (CMS). This position is responsible for executing various compliance-related tasks to ensure that the bank’s policies and processes are designed and executed in accordance with all applicable laws and regulations. The primary focus of this position is deposit and operations compliance, although assistance in other areas of compliance will be required, as needed. Overall, the Deposit Compliance Analyst is essential in positioning the bank as a compliance-oriented financial institution, ensuring that all operations align with regulatory standards. This position is located in Evansville, IN and reports to the VP Compliance Officer.
Essential Job Functions include, but are not limited to:
- Keeping abreast of relevant banking laws regulations and industry best practices
- Monitoring for new regulations or changes to existing regulations and disseminating information to appropriate staff
- Providing subject matter expertise to bank staff on all deposit related laws and regulations
- Assisting various business units in developing and reviewing internal controls, policies, and procedures to promote a strong compliance environment
- Leading designated compliance reviews that identify potential areas of compliance vulnerability and risk, as well as follow-up reviews to validate the effectiveness of remediation efforts
- Preparing detailed draft reports to document review findings that include recommendations to prevent, eliminate, or mitigate any identified risks
- Maintaining an exceptions log to track the timely remediation of control gaps, process improvements, or other areas of concern identified as part of compliance reviews
- Maintaining accurate and organized records for documentation of regulatory compliance reviews
- Collaborating with Marketing to review all advertisements or other media related to deposit products to ensure regulatory compliance prior to use
- Participating in projects designed to address deposit regulatory compliance involving new products or services implemented by or to be implemented by the bank
- Reviewing Power of Attorney and Small Estate Affidavit documentation as necessary
- Ensuring that all tasks are completed timely in accordance with the Compliance Review Schedule
- Assisting with the preparation of requested documentation for audits and exams
- Assisting the Compliance Officer in the completion of departmental risk assessments, policies, and procedures
- Participating in ongoing training
- Other compliance tasks as needed
- Performing all duties in relation to the Bank Secrecy Act under the guidance of the BSA Officer
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. In accordance with the Americans with Disabilities Act, reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential functions.
Skills and Abilities Required to Perform Essential Job Functions:
- Ability to read, analyze, and interpret regulatory information and technical procedures
- Strong verbal and written communication, organization, and time management skills
- Acknowledge and observe strict confidentiality requirements
- Strong interpersonal skills with the ability to work collaboratively and with people at all levels of the organization
- Ability to work independently and prioritize tasks without direction
- Exhibit a strong culture of trustworthiness, integrity, dependability, and responsibility
- Attention to detail and accuracy
- Sound and accurate judgment
- Ability to be a self-starter and adapt to a fast-paced work environment
- Ability to work under high pressure and short deadlines
- Proficiency in Word, Excel, and Outlook
Education, Experience and Qualifications:
- Bachelor’s Degree or equivalent banking experience
- Experience with and working knowledge of Reg E, Reg D, Reg CC, and Reg DD required
- Knowledge of consumer protections regulations such as Privacy, UDAAP and FCRA required
- Experience in compliance, audit, or other governance functions preferred
- Experience with payment systems such as NACHA, wires, and Zelle is a plus
Physical Requirements of Essential Job Functions:
The associate is frequently required to sit and/or stand, communicate, reach, and manipulate objects, tools or controls that are typical of an office/bank environment. Lifting items weighing up to 10 pounds on occasion. Manual dexterity and coordination are required over 80% of the work period while operating equipment such as computers, phones, calculators, etc.
Working Conditions:
- Typical office environment
- Extended viewing of computer screens
- Regular office hours are Mon thru Friday from 8am to 5pm. At times, working outside of the stated regular hours may be required
- Occasional travel may be required
The above statements are intended to describe the general nature and level of work performed by associates assigned to this position. They are not intended to be an exhaustive list of all responsibilities, duties and skills required of the associate classified as such. Duties and responsibilities may be added or changed as deemed appropriate by management at any time therefore, they could differ from those outlined above.
United Fidelity Bank is proud to be an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with disability, sexual orientation, gender identity or any other characteristic protected by law.
Please note: UFB does not accept resumes from independent recruiters or external staffing agencies for any of our openings unless we have an agreement in place, signed by the FVP of Human Resources.
