Compliance Analyst

Position Description

Note: This job description is a summary of the job duties and requirements that are essential to the evaluation of the job. It is not intended to be complete in detail. These responsibilities are typical for this job; however, on occasion, individuals in this position may be required to perform functions of a higher or lower skill level not included in this job description.

ABOUT Universal Bank

Universal Bank is a premier company in West Covina CA, which has remained dedicated to the commitment of serving our local communities. We provide customized customer service by offering a full array of deposit and loan products.

Our corporate office is in West Covina CA, with five branches serving LA County in West Covina, Monterey Park, Rosemead, Eagle Rock, and Arcadia. Our cultivated team is an extremely knowledgeable banking professional.

Job Description

The Compliance Analyst is responsible for duties within the Compliance Department and assisting the Compliance Manager as directed. The individual must follow the Company’s Compliance Management Program (CMP) to ensure conformity and adherence with all applicable state and federal laws, regulations, and policies and procedures. Additionally, these individual reviews and analyzes key elements of the CMP within their area of purview.

Responsibilities of this position include supervising and managing the monitoring process according to internal procedures and schedules, as well as monitoring key activities, independent quality control reviews, and quality control oversight of business units in adherence to compliance standards.

Ensures compliance with established Bank policies and procedures. Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to this position including but not limited to:

• GLBA(Gramm-Leach-Briley Act);
• Regulation Z (Truth in Lending Act);
• Regulation DD (Truth in Savings Act);
• Regulation B (Equal Credit Opportunity Act);
• Dodd–Frank Wall Street Reform and Consumer Protection Act (Dodd Frank Act) Regulation CC (Expedited Funds Availability Act);
• Regulation E (Error Resolution claims);
• Regulation H (Flood insurance monitoring);
• Regulation C (HMDA – Home Mortgage Disclosure Act);
• Right to Financial Privacy Act (state and federal) and,
• Community Reinvestment Act (CRA).

The Compliance Analyst not only performs the CRA testing but completes the Community Development Loan (CDL) Worksheet, creates the file with all supporting documentation to support her conclusion if the loan is CRA qualified or not.

The Compliance Analyst also monitors the Now Account Eligibility Activity, the ATM, Advertisement and Website compliance.

Responsibilities:

• Commits to identifying relevant compliance matters in a supervisory role and escalates them for awareness and/or potential action as appropriate to the Compliance Officer / Manager.
• Assists in facilitating compliance risk management within the context of disciplined planning, training, oversight, escalation, and the decision-making processes.
• Remains up-to-date of regulatory changes, industry standards and best practices; updates compliance department policies and procedures accordingly.
• Assists with updates and maintenance Compliance department procedures, in accordance with Board approved policies and regulatory standards.
• Assists the Compliance Officer / Manager in maintaining and updating the Company’s Compliance Resource Library, ensuring timely revisions.
• Ensures identified deficiencies are addressed, tracked, remediated, and monitored for closure as required by Compliance Monitoring & Testing.
• Escalates a risk, issue, or concern to the Compliance Officer / Manager, in accordance with the Company’s Escalation Process.
• Assists in exam coordination, provides required reports including compiling necessary information and/or documentation.
• Routinely identifies, communicates, and assesses regulatory changes in order to effectively communicate to impacted business units/employees throughout the organization.
• Monitors processes and schedules within their assigned area in accordance with the Board approved schedule and in response to external or internal findings.
• Monitors assigned action plans as part of the Compliance Monitoring and Testing Program by non-compliance or deficiency findings that may be identified through regulatory exams, internal or external audits, compliance monitoring, and employee discovery
• Completes applicable mandatory compliance training each year in a timely manner including business unit specific compliance training, as directed.
• Assists with research, development, and design of effective compliance training programs in accordance with Board approved policies and regulatory standards as assigned.
• Keeps up-to-date of compliance issues and risks, regulatory changes, compliance policies and procedures, monitoring, and testing results, etc. in order to identify and address gaps in controls.
• Conduct CRA file reviews gathering and recording CRA records into the Quest Soft system “CRA Relief” or similar software.
• Conduct HMDA file reviews ensuring accurate information is gathered and recorded into the Quest Soft “HMDA Relief” system and maintaining HMDA records
• Prepares meaningful and timely reports as required under management practices.
• Follows policies and procedures; completes tasks correctly and on time; supports the company’s goals and values.
• Assist the Compliance Officer or the Audit Manager in any other tasks as assigned.
• Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.
• Performs duties specific to the position and other functions as assigned.

Qualifications:

• 3-5 years relevant work experience in a compliance environment.
• Knowledge of Quest Soft or similar reporting software is desired.
• Knowledge of Regulatory University training software is desired.

Universal Bank is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability.

Communication skills:

• Good written and oral communication skills; ability to communicate effectively and project a professional image when giving and taking information in writing, in person, and over the phone.

Computer skills:

• Accurate typing/keyboarding skills; basic computer skills, including the use of word processing, spreadsheet software applications, and e-mail.

Physical Demands:

The physical demands 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.

While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle, or feel; reach with hands and arms; and talk or hear. The employee frequently is required to stand and walk. The employee must occasionally lift and/or move up to ten pounds. Specific vision abilities required by this job include close vision, color vision, and ability to adjust focus.

Work Environment:

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The noise level in the work environment is usually moderate.

Universal Bank is an Equal Opportunity Employer. Anyone needing accommodation to complete the interview process should notify the recruiter.

Job Type: Full-time

Pay: $23.50 - $26.50 per hour

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Employee assistance program
• Flexible spending account
• Health insurance
• Paid time off
• Vision insurance

Schedule:

• 8 hour shift

COVID-19 considerations:
We require all employees to be COVID-19 vaccinated.

Education:

• High school or equivalent (Preferred)

Experience:

• Compliance: 3 years (Preferred)

Work Location: One location