Risk and Compliance Associate

Summary

Primary responsibility is to assist the Compliance Officer in completing the compliance and risk management objectives. This includes assisting in the preparation of annual enterprise and compliance risk assessments, quarterly reports, managing the bank’s insurance program, and maintaining compliance related files, performing required testing, and sending required communications.

Essential Functions

• Performs general compliance duties and monitoring of programs in place to ensure compliance with bank policies and procedures, applicable laws, regulations and rules governing operations and product offerings. 
• Execute and document compliance reviews as directed by the Compliance Schedule and Compliance Risk Assessment. This includes but is not limited to:
• Assist in planning and developing compliance review procedures as needed. This involves creating guidelines and processes to ensure the bank’s adherence to regulations and internal policies.
• Verify and document compliance with bank policies and procedures, and applicable laws and regulations. 
• Perform adequate testing of internal controls to ensure operational effectiveness; accuracy of information, test and analyze transactions and activities for compliance.
• Maintain detailed and organized work papers to support and document compliance reviews and conclusions.
• Prepare review results, including identifying exceptions and recommendations, for Compliance Officer review.
• Adhere to scheduled review deadlines and communicate potential delays, budgeted time overruns, or other issues to the Compliance Officer as needed.
• Conduct quarterly follow-up of outstanding findings, report results, communicate any   issues to the Compliance Officer and update the open exceptions log as applicable. 
• Conduct research on compliance related issues and provide recommendations.
• Assist with preparation of quarterly compliance reports.
• Assist with preparation of compliance related risk assessments.
• Supports management of the bank’s Insurance Program. This includes but is not limited to tracking insurance policies, notifications of renewals, completing applications, reviewing applications for completeness and accuracy, summarizing coverages, ordering, and tracking endorsements, and coordinating all renewals
• Preparation of quarterly Enterprise Risk Management (ERM) reports, quarterly dashboards, and annual risk assessment. Coordinate risk assessment meetings, take minutes, and manage schedules.
• Manage collection, calculation, and input of quarterly Key Risk Indicators (KRIs).
• Maintain and update the bank’s board approved policies and procedures, make changes once approved, maintain log of changes, verifies approvals, maintain supporting documentation, and update inventory for public access.
• Provides support during regulatory examinations and external audits by gathering documentation, formatting documents, compiling responses, relaying requests, and monitoring of outstanding items. 
• Assemble materials for board meetings, committee meetings, trainings, etc. 
• Perform data extracts and perform data analytics as requested using internally available tools  (e.g. Cognos, Power Query, Excel, etc.)
• Organize and maintain confidential documentation.
• Complete required bank training and compliance related training as assigned.
• Coordinate various team meetings via outlook, prepares necessary materials, and logistics, coordinates with all stakeholders, and records minutes.
• Perform other duties and special projects as assigned.

Required Education, Experience, Skills

• Bachelor’s degree with a major in accounting, finance, or other business administration major. 
• Minimum of 3 years of banking, compliance, or audit experience or combination of relevant education and experience
• Must be able to maintain confidentiality in sensitive bank matters
• Ability to read and understand regulations, laws, regulatory guidance, examination reports and other written material of a technical nature and apply them to the compliance and risk management program. 
• Ability to create electronic databases and analyze, cross-reference, and/or manipulate data (e.g., sort, pivot, filter, subtotal, extract, convert, vlookups, etc.) mostly but not limited to Excel
• Keep abreast of regulatory changes.
• Ability to work with other bank departments’ personnel in a professional and objective manner.
• Proven ability to effectively communicate at all levels, both verbally and in writing.
• Strong writing and documentation skills to effectively communicate review results.
• Strong computer skills a must, to include but not limited to Excel, Word, Outlook, AdobePro, and data analytics tools. 
• Ability to multi-task, organize work, set priorities and meeting deadlines is critical.
• Effective organizational, analytical and problem-solving skills.

Equipment Used

• Standard office equipment such as computers, phones and photocopiers

Supervisory Responsibility

• N/A

Working Conditions/Physical Requirements

• Office setting

WestStar is an Equal Opportunity Employer and does not discriminate on the basis of any protected trait, including gender, race, ethnicity, disability, or veteran status.