Job Summary
The Compliance Specialist has in depth knowledge of regulatory compliance related to lending and deposit compliance, in addition to the Community Reinvestment Act and the Home Mortgage Disclosure Act. The Compliance Specialist will monitor and evaluate the bank’s activities to ensure compliance to rules and regulations by conducting reviews, analyzing the bank’s practices, and complete report findings. This position will review and work with all aspects of compliance.
Essential Functions
Employees must be able to perform the essential functions of this position satisfactorily or make a request for reasonable accommodations as needed.
- Verify Home Mortgage Disclosure Act (HMDA) and Community Reinvestment Act (CRA) lending data for accuracy by reviewing loan files consistent with regulatory requirements. Coordinates with various bank departments to resolve inconsistencies in loan data to ensure accuracy in data reporting.
- Assists with coordinating, documenting and reviewing CRA community development loans, investments, donations and services activity.
- Assists in day-to-day monitoring, recordkeeping, and data reporting related to deposit and lending compliance regulations including credit bureau reporting and disputes, Flood, Safe Act, Loan Exception Reports, Doc Fee Waiver Reports, Application Aging Reports, and more.
- Assists the Director of Compliance with supporting the Bank’s Compliance program and stays abreast of regulation changes by attending trainings.
- Assists in preparing documentation for internal auditors and regulatory examinations. Assists in following up on outstanding issues.
- Reviews all advertising created by the Marketing Department for compliance.
- Reviews Reg CC Hold forms for accuracy.
- Assists with responding to compliance inquiries.
Other Functions
- Provides training on areas of Compliance to bank staff.
- Perform other duties as assigned.
Education & Experience
- Associate degree from accredited college or university is preferred.
- Relevant work experience is preferred.
We offer the opportunity for career growth and development in a professional and pleasant working environment. We offer a competitive salary and exceptional benefits package including:
- Health Insurance-Dacotah Bank pays 100% of the premium, family and individual coverage
- Dental Insurance-Dacotah Bank pays 100% of the premium, family and individual coverage
- Health Savings Account
- Life Insurance for the employee and family
- Paid Vacation and Sick Time
- Retirement Plan Options
- Additional Perks and Benefits
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
Skills Required
- In-depth knowledge of lending and deposit compliance, including CRA and HMDA
- Ability to verify HMDA and CRA data and review loan files for accuracy
- Experience with deposit and lending compliance tasks (credit bureau reporting, Flood, SAFE Act, Reg CC)
- Prepare documentation for internal auditors and regulatory examinations and follow up on issues
- Review marketing and advertising for regulatory compliance
- Associate degree from accredited college or university
- Relevant banking or compliance work experience
What We Do
As a state-chartered bank, Dacotah Bank provides banking, insurance, mortgage, and trust services to customers who enjoy existing financial relationships with us. We also market these services to prospective customers residing in or doing business from our defined trade area. Dacotah Bank's trade area includes all of North Dakota; all of South Dakota; the following counties in western Minnesota: Becker, Big Stone, Chippewa, Clay, Clearwater, Cottonwood, Douglas, Grant, Jackson, Kandiyohi, Kittson, Lac qui Parle, Lincoln, Lyon, Mahnomen, Marshall, Murray, Nobles, Norman, Otter Tail, Pennington, Pipestone, Polk, Pope, Red Lake, Redwood, Renville, Rock, Stevens, Swift, Traverse, Wilkin and Yellow Medicine; the following counties in Iowa: Lyon and Osceola; and the counties in Montana, Wyoming and Nebraska that are adjacent to North Dakota and South Dakota. On November 10, 2004, employees, stockholders, and customers observed the 40th Anniversary of Dacotah Banks, Inc. (DBI). That same year, the Aberdeen-based bank holding company, owner of a family of community banks and insurance agencies, passed the $1 billion assets mark. Today, the company's banking assets exceed $2 billion. With locations in dozens of hometowns in North Dakota, South Dakota, and Minnesota, the firm employs over 500 employees and serves over 60,000 customers, Dacotah Bank is also one of America’s largest lenders to agriculture and consistently ranks in the top 20.
