Compliance Analyst (Banking) jobs in New Bedford, MA

Compliance Analyst (Banking) monitors customer accounts and researches transactions to identify suspicious activity violating current anti-money laundering (AML) regulations defined in the US Bank Secrecy Act (BSA) or other governmental anti-terrorist financing programs. Uses customer data mining and software tools to identify suspicious activity patterns. Being a Compliance Analyst (Banking) reviews daily Currency Transaction Reports (CTR) and Questionable Activity Reports (QAR), and submits Suspicious Activity Reports (SAR) as appropriate. Ensures adherence to Know your Customer (KYC) protocols. Additionally, Compliance Analyst (Banking) may lead or participate in investigations of suspicious activity to pursue corrective actions and ensure completion of required filings. Keeps abreast with regulatory changes, risk management best practices, and trending methods used by fraud perpetrators. Delivers compliance training with up-to-date regulatory information and procedures to develop and guide a well-informed staff. Typically requires a bachelor's degree. May have the Certified Anti Money Laundering Specialist (CAMS) certification. Typically reports to a manager. The Compliance Analyst (Banking) work is closely managed. Works on projects/matters of limited complexity in a support role. To be a Compliance Analyst (Banking) typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)

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Compliance Analyst
  • BankNewport
  • Middletown, RI OTHER
  • Overview

    BankNewport celebrates being a community bank since 1819. Yes, that’s 200 years, and still growing. Offering new and exciting career opportunities, BankNewport is committed to providing our employees the resource and guidance to develop careers that are challenging and rewarding.

     

    So if you’re looking for a great professional opportunity, know that BankNewport will empower and invest in you.

     

    The Compliance Analyst is a member of the Compliance Department and is responsible for assisting with the effective planning, coordination, implementation and monitoring of the Compliance Management Policy and Program across the Bank and its affiliates.  The Compliance Analyst’s main responsibility includes assisting the VP Director of Compliance in the execution of the Bank’s compliance management system. The Compliance Analyst is also a key resource to all Bank management and personnel for regulatory and compliance matters, and as such must be able to effectively interact with all levels of management and provide well-researched and sound decisions and advice as it relates to Bank policies and applicable laws and regulations.  The Compliance Analyst reports directly to the VP Director of Compliance and assists in carrying out the collective responsibilities of the Compliance Department.

    Responsibilities

    • Compliance Program Development - Ability to lead and work independently to identify areas of concerns and effectively problem solve by developing alternative solutions. Assist in development and implementation of new tools or processes to improve the way the Compliance Management Program is structured, managed and implemented.  Identify potential risks or inefficiencies and develop recommendations for improvement.  Actively seek the development of new or improved procedures or ideas, which will enhance overall compliance and efficiency of the Bank. Establishes good working relationships with all areas of the Bank to assist and lead them in their compliance program development.
    • Responsible for the ongoing maintenance of a reliable, effective and risk based regulatory Deposit and Lending Quality Control Program (retail banking, residential lending, consumer lending, commercial lending, small business lending).
    • Conducts compliance monitoring activities and documents findings to ensure the business unit is adhering to set practices, procedures, policies, & guidelines, including all applicable regulatory compliance requirements (i.e. Reg. CC, Reg. E, Reg. DD, Fair Lending/UDAAP, ECOA/Reg. B, CRA, SCRA, FCRA, FDCPA, TILA/Reg. Z and Flood, HMDA). Partners with business management to assess their compliance processes and activities. Makes recommendations to management for areas of improvement and enhancement.  
    • Recommends improvements to policies, procedures, and technology tools as needed to ensure effective risk management and compliance with regulatory requirements Responsible to identify policies and procedures that require changes due to changes in laws and regulations or changes in Bank compliance-related practices.  This includes but is not limited to the Commercial Lending, Residential Lending, Consumer Lending, Fair Lending, Flood, Electronic Banking, Overdraft, and Marketing Policies.
    • Assists in the compilation and analysis of the Banks CRA and HMDA data to monitor the Bank’s CRA and Fair Lending performance. 
    • Responsible to provide regulatory guidance and support to business units as a subject matter expert.  Meets with business unit management periodically to review the business’ compliance management activities, being available to answer questions and offer guidance and direction
    • Assists in conducting compliance reviews and approvals relating marketing and advertising materials, business forms, customer disclosures and changes on the Bank’s website.  Ensures that compliance documentation is completed and maintained within the Bank’s system of record (Kadince).
    • Assists in the completion of various compliance risks assessments conducted across the Bank, including a bank-wide Compliance risk assessment, a fair lending risk assessment, and a UDAAP risk assessment.  Activities may include coordinating or conducting risk assessments or sections thereof, reviewing risk assessment documentation and conclusions, tracking and monitoring risk assessment activities, and developing, implementing and tracking action items relating to completed risk assessments.
    • Regulatory Communication and Implementation Tracking – Coordinates and manages the regulatory communications and implementation tracking process. Helps to identify, track, document and analyze changes in applicable laws and regulations and identify business areas impacted by such changes
    • Responsible for the development, maintenance and implementation of a core compliance training program bank-wide. Includes management of the online training system and coordination of employee registration, status reporting, and training module development and implementation.
    • Responsible for the monitoring and reporting of customer complaints including but not limited to ensuring proper resolutions have been documented as well as escalation of complaints as applicable.
    • Keeps abreast of compliance activities through attendance at professional association meetings, seminars, and workshops, as appropriate. Stays abreast of all applicable laws and regulations, such as CRA, HMDA; Fair lending, Regulation Z – Truth in Lending, RESPA, FCRA, ECOA/Reg. B, FDCPA, SCRA, Flood regulations, Regulation DD, Regulation CC, Regulation E, etc.
    • Represent the Bank through participation in various community and industry related activities. Actively promote interest in the Bank whenever and wherever possible.
    • Perform related and unrelated duties as may be required.

     

    SUPERVISORY SCOPE:

    None

     

    INDEPENDENT ACTION:

    Performs work independently within scope of established guidelines and practices.  Consults with manager where clarification or exception to Bank policy may be required.  Is able to take initiative and manage projects and program elements.

     

    QUALIFICATIONS:

    • Minimum of 3 to 5 years of experience in Compliance with focus on consumer compliance and lending regulations including Fair Lending
    • Bachelor’s Degree required, advanced Degree preferred or equivalent experience
    • Strong leadership skills, relationship building, verbal and written communication, problem solving and analytical skills
    • Demonstrates understanding of lending practices/procedures, lending laws and regulatory requirements (over the lending life cycle), including, Residential, Consumer, Commercial and Business Banking.
    • Ability to coordinate and work with multiple groups simultaneously
    • Excellent personal communications skills
    • Proficient in Microsoft Office (Word, Excel, Power Point, Access, Visio) and Adobe Professional

     

    Qualifications

    This position will interact directly with line, credit, and operations units within the Bank to ensure that each respective area is adhering to pre-set practices, procedures, policies, and guidelines. The Compliance Analyst also assists others in the Department, as needed.

     

    BANKNEWPORT CORE VALUES:

    • We celebrate individuality
    • We empower employees to be creative problem solvers
    • We invest and take the time to really get to know our customers
    • We commit to serving the financial needs of Rhode Islander’s

     

    Any physical demands or work conditions 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.

     

    BankNewport is committed to a policy of Equal Employment Opportunity and will not discriminate against an applicant or employee on the basis of race, color, religion, creed, national origin or ancestry, sex, age, physical or mental disability, veteran or military status, genetic information, sexual orientation, gender identity or expression, pregnancy, childbirth or related medical conditions, military service, marital status, or any other legally recognized protected basis under federal, state or local laws, regulations or ordinances.

  • 19 Days Ago

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Risk/Compliance Analyst - Bristol Community College
  • Bristol Community College
  • River, MA FULL_TIME
  • Location: Fall River, MA Category: Professional Posted On: Tue Dec 12 2023 Job Description: POSITION TITLE: Risk/Compliance Analyst DEPARTMENT: Administration and Finance PRIMARY LOCATION: Fall River ...
  • 16 Days Ago

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Banking Associate
  • Alltrust Credit Union
  • Fairhaven, MA FULL_TIME
  • ALLTRUST CREDIT UNION POSITION TITLE: Banking Associate SUMMARY The Banking Associate position is an all-encompassing role which requires the associate to deliver sales solutions, service, and transac...
  • 4 Days Ago

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Consumer Banking Product Manager
  • BankNewport
  • Middletown, RI OTHER
  • Overview Offering new and exciting career opportunities, BankNewport is committed to providing our employees the resource and guidance to develop careers that are challenging and rewarding. So if you’...
  • 20 Days Ago

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Premier Banking Associate
  • BankNewport
  • Middletown, RI OTHER
  • Overview Offering new and exciting career opportunities, BankNewport is committed to providing our employees the resource and guidance to develop careers that are challenging and rewarding. So, if you...
  • 21 Days Ago

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Banking Center Manager - Nantucket
  • The Cape Cod Five Cents Savings Bank
  • Nantucket, MA FULL_TIME
  • DescriptionSUMMARY: The Banking Center Manager leads a Banking Center or Centers with a focus on providing leadership, delivering exceptional customer service, business development, and community rela...
  • 22 Days Ago

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0 Compliance Analyst (Banking) jobs found in New Bedford, MA area

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Financial Analyst
  • Complete Staffing Solutions, Inc.
  • Providence, RI
  • Job Description Job Description HYBRID 37.5 work week! Hybrid Degree REQUIRED 3+ years’ experience REQUIRED Advanced Exc...
  • 3/28/2024 12:00:00 AM

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Remote Regulatory Compliance Analyst (Insurance Industry)
  • National General Insurance
  • Providence, RI
  • Job Description Position/Title: Remote Regulatory Compliance Analyst (Insurance Industry) ** NOTES: Ideal candidate will...
  • 3/28/2024 12:00:00 AM

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Computer Systems Analyst I
  • Netsimco
  • Newport, RI
  • Job Description Job Description Netsimco is a Saalex company located in Middletown, RI. Saalex is an Engineering and Inf...
  • 3/28/2024 12:00:00 AM

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Accounting Governance Senior Analyst
  • The Judge Group
  • Providence, RI
  • Job Overview: The Accounting Governance Senior Analyst position will assist in the evaluation of the effectiveness and e...
  • 3/28/2024 12:00:00 AM

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Internal Revenue Agent (Reviewer - Examiner) 12 MONTH ROSTER - AMENDED
  • Department Of The Treasury
  • Brockton, MA
  • Duties WHAT IS THE WHISTLEBLOWER OFFICE (WBO) DIVISION? A description of the business units can be found at: https://www...
  • 3/27/2024 12:00:00 AM

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Financial Analyst - (Hybrid Schedule)
  • Serco North America
  • Newport, RI
  • Position Description : Serco is seeking a Financial Analyst to handle full lifecycle program finances for our Software I...
  • 3/26/2024 12:00:00 AM

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Compliance Analyst
  • CENTREVILLE BANK
  • West Warwick, RI
  • The Compliance Analyst supports the VP Compliance Manager and performs various tasks and monitoring to ensure adherence ...
  • 3/25/2024 12:00:00 AM

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Senior Manager, Pharmacy Analytics and Contract Compliance
  • CVS Health
  • Woonsocket, RI
  • Bring your heart to CVS Health. Every one of us at CVS Health shares a single, clear purpose: Bringing our heart to ever...
  • 3/25/2024 12:00:00 AM

New Bedford is a city in Bristol County, Massachusetts, United States. As of the 2010 census, the city had a total population of 95,072, making it the sixth-largest city in Massachusetts. New Bedford is nicknamed "The Whaling City" because during the 19th century, the city was one of the most important whaling ports in the world, along with Nantucket, Massachusetts and New London, Connecticut. The city, along with Fall River and Taunton, make up the three largest cities in the South Coast region of Massachusetts and is known for its fishing fleet and accompanying seafood producing industries ...
Source: Wikipedia (as of 04/11/2019). Read more from Wikipedia
Income Estimation for Compliance Analyst (Banking) jobs
$52,629 to $74,624
New Bedford, Massachusetts area prices
were up 1.6% from a year ago