Compliance Specialist

Merchants Bank has an opening for a Compliance Specialist. This position can be worked from any Merchants Bank location in MN or WI after initial training in Red Wing, MN. Banking experience with deposit and loan compliance knowledge required.

This position will support the Compliance function by conducting research, working with a variety of systems, and with team members. Responsible for supporting and working through compliance audits, working with CRA, and completing reports. This position requires a well-organized and motivated individual with the ability to support projects and follow through as needed. Must be willing and able to provide communication and support in the compliance area and deal with different types of people.

Please click on Apply Now or apply in person at any Merchants Bank location. Questions can be emailed to hr@merchantsbank.com. Merchants Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.

Primary Duties

• Responsible for supporting and working through all Compliance Audits with Wipfli. Includes 3 Compliance Audits and 4 quarterly CRA Audits. Includes sending out request lists, gathering and indexing all required documents, working with Wipfli during the audit, reviewing draft report and working with employees for responses, actions, and track completion of actions.
• Daily work with overdrawn HSA accounts.
• Supporting the Compliance Officer on CRA communication, preparation, review and exams. Work with Compliance Officer to maintain public file, volunteer hours, donations, investments, maps, etc. Complete quarterly CRA review.
• Complete/update privacy code reports quarterly and take minutes for quarterly privacy committee meetings.
• Assist with set-up BAI assignments for employees and tracking completion, failed courses and reminders.
• Complete following audits as scheduled
• FHA Collections & Servicing Audits - monthly
• RD Collections & Servicing Audits – monthly
• Assist Compliance Officer with other compliance audits as needed.
• Stay current on compliance issues as they pertain to banking via training and self-education.
• Complete eOscar reports monthly
• Review marketing materials for compliance.
• Answer compliance questions of employees.
• Finalize and create reports within TRAC for compliance findings as needed
• Attend Compliance Officer meetings and take minutes for each meeting.
• Other duties as needed.
• Employee will be expected to contribute to a positive working environment through words and actions.
• Employee will be expected to greet internal and external customers in a friendly and outgoing manner.
• Employee will be expected to take responsibility to ensure that internal and external customers receive outstanding service.
• Regular and dependable attendance is an essential function of the job.
• Employee will be expected to complete compliance and product knowledge assignments in a timely manner.

Indicators of Success

• Compliance recommendations are followed up on appropriately.
• Audits and Reports are created in a timely fashion.
• Research is completed and answered correctly and promptly.
• Support the formalized CRA program activities to ensure preparedness for regulatory exams.
• Assist with BAI assignments and tracking.
• Learns and becomes knowledgeable with banking compliance laws and regulations.
• Completes other assigned duties in a timely and accurate fashion.

Working Conditions
Inside working environment, very low noise level. May include travel to affiliate operations as required.

Physical Demands
Work is performed primarily sitting at a desk. Requires a high degree of finger dexterity, and very good finger-eye coordination.

Mental Demands
Requires above-average aptitude in the area of math/number skills, and evaluation/reasoning skills. Above-average skill in the area of problem analysis and problem solving. Ability to speak with clarity and articulate thoughts and ideas well. Must be able to remain calm under pressure and relate to all types of personalities.

Skill Requirements
Banking experience with deposit and loan compliance knowledge required. Independent thought, good organization, self-motivation to complete tasks and remain on schedule with minimal supervision. Personal computer skills with good knowledge of Microsoft, Access, Excel, and Word programs, good typing skills, effective telephone and written communication skills. Amiable personality; team player.

Relationships
Responsible to the Compliance Officer for clarification of position responsibilities. authority, and for proper interpretation.

Will have limited person-to-person and phone contact with customers and public, however, may at times have extensive staff contact. Must have ability to work in a team environment and have personal manner to enhance overall professional image of the organization. Must be willing to be flexible and adaptable. Must be prepared to learn new regulations and laws.

Salary : $24 - $29