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Merrick Bank · 11 hours ago

Analyst I (Third Party Products)

South Jordan, UT

Full-time

Onsite

Entry Level

2+ years exp

Merrick Bank, a diversified consumer finance service provider, is looking for an Analyst I to assist in the implementation of the Bank’s Compliance Management System. The role involves developing compliance testing plans for third-party products, staying updated on regulatory changes, and supporting compliance-related projects and issues.

BankingCrowdfundingFinancial Services

Senior Management

Responsibilities

Assist in the overall implementation of the Bank’s Compliance Management System (CMS) and in the development of an overall compliance testing plan for third party products with compliance impact

Stay abreast of federal and state regulatory changes, report such changes to management and assist in determining appropriate responses, including the development of new testing plans

Report to the Chief Compliance Officer on any suspect violations of law, regulations or non-compliance to Company policy and take responsibility to ensure resolution

Maintain compliance related policies and procedures to ensure continued applicability and completeness

Demonstrate an ability to adapt to any changes in the regulatory environment

Perform other compliance-related duties as assigned by compliance management and the Chief Compliance Officer

Serve as an advisor to the Business Units by helping interpret regulatory requirements and advising on control/process expectations and issues resolution

Develop and present training on compliance topics as needed

Attend conferences and trainings to enhance compliance knowledge and skills

Assist in preparing materials and resources for regulatory examinations, department and committee meetings

Responsible for complying with all of the Bank’s internal control policies and procedures

Responsible for understanding and complying with all laws and regulations to which the Bank is subject

Responsible for communicating problems in operations, noncompliance with the code of conduct, noncompliance with laws and regulations, policy violations, or illegal acts

Conduct third party product testing and monitoring for compliance with various laws and regulations utilizing existing Bank programs, and prepare report of findings and present results to leadership

Develop and maintain comprehensive testing plans for compliance related risks throughout the Bank

Support the ongoing monitoring of key risk indicators and metrics associated with all third-party products with compliance impact

Revise and/or customize testing plans based on results of prior testing, regulatory changes, changes to internal processes, or audit/examination findings

Identify process weaknesses or gaps and report them to the applicable business unit

Assist with the review of marketing materials, customer communications, and disclosures of third party products to ensure compliance with applicable regulations

Participate in new product development, system initiatives, and other projects related to third party products

Assess needs related to consumer regulatory guidance and requirements by meeting with stakeholders and participating in project meetings, document the change and objectives and communicate to various Compliance teams

Assist in conducting CMRAs for internal projects and determine compliance impact

Ensure all stakeholders within Compliance have awareness of project scope, so specific processes can be modified and updated

Support multiple projects simultaneously, track project progress, and report milestone and potential issues with recommended resolutions

Track and complete all project framework tasks as assigned

Maintain standard compliance documentation of the change activities for Compliance

Participate in issue triage meetings and provide compliance recommendations on issue ratings

Validate business unit remediation efforts as assigned and ensure timely and accurate resolution of identified issues before closure

Qualification

Compliance Management SystemRegulatory knowledgeBanking lawsAnalytical skillsIndustry certificationsProject managementMicrosoft OfficeCommunication skills

Required

High School Diploma or GED equivalent required

Knowledge of banking industry functions including credit, deposit, finance, marketing, operations, etc

Knowledge of banking laws and regulations

Ability to obtain and maintain industry certifications (CRCM, CAMS, Etc.)

Strong analytical background with proven track record for structuring/solving problems, drawing conclusions and formulating recommendations

Ability to plan, organize and prioritize multiple simultaneous assignments real-time, as well as manage to time constraints

Ability to work independently and without direct or continuous supervisory support

Communicates effectively both orally and in writing; presents ideas in a clear, concise, understandable, and organized manner

Keyboard and Windows-based applications (Microsoft Office) experience is required

Preferred

Two (2) years of experience in compliance and regulatory banking experience in a consumer credits or banking experience is preferred

Experience in project or change management is desired

Applicable certification desired (CRCM, CAMS, Etc.)

Benefits

Benefits Package -Medical, Dental, and Vision (plus much more)

401(k) Plan with Company Match

Short- & Long-Term Disability

Wellness Programs

Group Life and AD&D Insurance

Paid Vacation, Sick Days and bank Holidays

Employee Engagement Activities including Employee Appreciation Day, DEI Employee Resource Groups, Corporate Social Responsibility, Service Recognition