Compliance Analyst I

Position Overview:
Reporting to the Compliance Program Manager, the Compliance Analyst is responsible for developing and maintaining compliance reporting and analytics, while aiding in the ongoing development, implementation, and maintenance of the Bank’s Compliance Management Program, particularly in the areas of regulatory and product/service change management; issues and complaints management; Fair Treatment; and reporting and analytics.
In addition, the Compliance Analyst is also responsible for assessing the effectiveness of business line processes, policies, and controls to ensure compliance with applicable laws, regulatory requirements, and internal policies through periodic testing. Works collaboratively as part of a team of analysts who share responsibilities and expertise.
Partners with Business Line Management to track and/or perform root cause analysis of issues, regulatory changes, product and service changes, and documents trends for further issues management and risk mitigation.
Escalates issues to Compliance Leadership and communicates results of analyses, reviews, and testing in a timely manner.
Level I: Primary focus is on personal development of skills and acquisition of knowledge to be able to perform the activities of single or multiple functional areas, with supervision.
Level II: Level I expectations with additional focus on increasing amount of production while being independently proficient and competent in multiple functional areas.
Level III: Level I and II expectations of quality, production, and acquisition of knowledge while being competent and proficient in all aspects/functional areas of the role. Additional responsibilities include training less-experienced team members, assisting with complex issues/projects, acting as a resource to other team members, and reviewing processes and procedures for improvement opportunities.
This is a full-time career opportunity based in Bangor, Maine that provides both remote and on-site work options with a required minimum of three days a week in the office. The hybrid (remote/on-site) work option is available upon successful completion of initial training (approx. 90 days).Key Accountabilities:

Key responsibilities span several key elements of the bank’s compliance management program, including the following:

• Regulatory Change Management: Researches and summarizes regulatory changes; helps make determinations of applicability; notifies affected areas; assists business lines with implementation plans; and tracks implementation progress and completion.

• Issues Management: Inputs and assigns responsibility for reported compliance issues; performs root cause analysis; assists business lines with mitigation plans; assists issue owners with compliance questions; tracks issues to completion; validates remediation.

• Complaints Management: Reviews complaint information for completeness; ensures owner accountability for timely response; reviews responses for accuracy and completeness; analyzes root cause and assists with determinations of broader applicability and potential creation of related issue for resolution.

• Compliance Testing and Self-Monitoring: Participates in developing, recommending, and implementing compliance test plans based on risks identified through the risk assessment process; implements and executes a comprehensive monitoring program to assess the continued effectiveness of policies, procedures, and controls designed to ensure compliance with all applicable regulations.

• Fair Treatment: Performs fair treatment data analyses and prepares detailed and specialized reports for management and associated committees; reviews exception reporting to identify trends for review.

• Reporting and Analytics: Develops and uses reporting tools to create periodic management reports of compliance metrics, trends, and risk dashboards; periodically provides written and/or verbal reports to management identifying outcomes of compliance control testing and/or analysis activities including deficiencies in compliance, guidelines and/or procedures.

• Other Duties:

• Continuously acquires, maintains, and increases knowledge of banking, deposits, and lending-related subject matter/products (including new/emerging product opportunities) and applicable regulatory requirements.

• Performs assigned operational duties, including some that are complex and require strong analytical skills to complete. 

• Participates in applicable Bank projects, committees and working groups related to Compliance.

• Makes recommendations regarding adequacy and effectiveness of procedures and/or policies, exception reporting systems, loan administration and risk management practices.

• Assists in preparation for Federal and/or State Regulatory Compliance Examinations and External and Internal Audits.

• Reviews and recommends process improvements to reduce cost, improve efficiency and/or mitigate risk to the bank. 

• Routinely exercises discretion and independent judgment while performing duties.

• Interacts harmoniously and effectively with others, focusing upon the attainment of bank goals and objectives through a commitment to teamwork.
• Conforms to acceptable punctuality/attendance standards as expressed in the Employee Handbook.
• Maintains strict confidentiality.
• Performs additional duties as requested.

Knowledge/Skills/Experience Requirements:

• High School diploma or equivalent required.
• Bachelor’s Degree or work equivalent preferred.
• 2+ years of banking experience required, experience in regulatory compliance helpful.

• Strong analytical and organizational skills with an ability to interact effectively with all levels of the organization.
• Committed to providing exceptional customer service.
• Demonstrated ability to effectively communicate (verbal and written) with all levels of the Organization.
• Proven ability to meet goals, deadlines, and perform in a fast-paced, challenging work environment.
• Ability to work with little supervision and make independent decisions.
• Ability to research and solve problems.
• Ability to manage multiple tasks concurrently and prioritize accordingly.

Physical Demands/Conditions Requirements:

• General office environment.
• Moderate lifting (to 35 lbs.) required.  Moderate reaching, walking, sitting and standing required.

Equipment Used:

• General office equipment.

External and internal applications, as well as position incumbents who become disabled, must be able to perform the essential functions (as listed) either unaided or with the assistance of a reasonable accommodation to be determined by management on an individual basis.