Compliance Analyst

Lever, Inc.; Napa (CA); On-site; USD 90,000 - 120,000; Full time

Job summary

Redwood Credit Union is seeking a Compliance Analyst to proactively identify and evaluate risks, conduct regulatory research, and collaborate with management to develop action plans to mitigate risks and address issues. The role involves planning and performing diverse compliance activities and projects to support risk management, audits, and ongoing regulatory adherence.

The analyst will work with various departments to ensure products, services, and processes meet applicable legal

Qualifications

• Bachelor's degree in a relevant field.
• Experience in regulatory compliance for financial institutions is preferred.
• Strong analytical, written, and verbal communication skills.

Responsibilities

• Review regulatory and legal changes affecting financial institutions to determine applicability and impact to Redwood Credit Union (RCU).
• Independently work with RCU departments to implement legal requirements and ensure changes comply with applicable laws.
• Create and manage compliance programs and training materials.
• Prepare revisions to Credit Union disclosures and regulatory reports.
• Prepare currency transaction reports in compliance with the Bank Secrecy Act (BSA).
• Assist with audits, exams, and other compliance tasks as assigned.
• Maintain and organize audit work papers and documentation.
• Attend training as designated by the Compliance Manager.

Skills

Regulatory knowledge

Analytical thinking

Communication

Collaboration

Education

Bachelor's degree in Finance, Economics, or related field

Job description

Redwood Credit Union is looking for a Compliance Analyst, who will be responsible for proactively identifying and evaluating risks and controls, completing regulatory compliance analysis and research, identifying issues and/or areas for improvement in efficiency or effectiveness, and working with management in developing actions plans to ensure risks are effectively mitigated and issues are corrected. Work with broad discretion on assignments of a varied and diverse nature. Plan, organize, and perform other Compliance activities and projects.

Key Responsibilities

Compliance

• Review and conduct in-depth analysis on regulatory and legal changes affecting financial institutions to determine applicability and impact to RCU.
• Research regulatory/legal questions for other departments as assigned.
• Prepare and present analysis summaries and findings to RCU management to assist in decision-making.
• Independently work with RCU departments to implement legal requirements and ensure changes to products, services, and processes comply with applicable legal requirements.
• Create and manage compliance programs and training programs.
• Review advertisement, forms, letters, and disclosures for other departments as assigned to ensure compliance with applicable legal requirements.
• Prepare revisions to Credit Union disclosures.
• Prepare written reports and analysis for Compliance management.
• Assist on projects, exams, audits, and other tasks as assigned.
• Provide excellent service to all Members and internal clients.
• Prepare currency transaction reports in compliance with the Bank Secrecy Act.
• Manage projects required to implement regulatory and legal changes, including setting project goals, coordinating efforts between multiple departments, and monitoring for effectiveness.

Risk Management

• Independently work with RCU departments to identify and mitigate risks to the line of business, including compliance, business continuity, and internal controls.
• Collect and prepare information for business continuity planning.

Audit

• Collect and prepare information for both internal and external audits.
• Document audit procedures performed or coordinated/supported.
• Maintain audit work papers and documentation.
• Develop and monitor remediation plans resulting from any deficiencies identified in audits.
• Submit all audit work (i.e., planning, programs, work papers, reports, etc.) to the Compliance Manager for review prior to issuance of final reports.
• Administer compliance testing program and monitors result status.

Administration

• Assist with department budget preparation and perform legal expense analysis.
• Complete monthly report(s) and maintain records of time usage.
• Manage and administer RCU’s forms library.
• Manage and administer RCU’s Management Procedures Manual.
• Attend training as designated by Compliance Manager.

Join us and discover why you'll love working at Redwood Credit Union!

ABOUT REDWOOD CREDIT UNION (RCU)

At Redwood Credit Union, our mission is to passionately serve the best interests of our Members and communities. Since 1950, we have been dedicated to supporting the financial well-being of our Members through better rates, low or no fees, and best-in-class customer service. Our purpose is to inspire hope and elevate the financial well-being of our communities one person at a time, through good times and bad.

As a not-for-profit financial institution, we are committed to a people-first approach, which is reflected not only in how we serve our Members, but also in how we treat our employees. Our leadership team is deeply focused on fostering a culture of heart and empathy, integrity