Deposit Quality Assurance Associate

Live Oak Bank; Wilmington (NC); On-site; USD 27,000 - 44,000; Full time

Job summary

Live Oak Bank in Wilmington, NC, is hiring a Deposit Quality Assurance Associate to support compliance, risk, and governance within the Deposits team. The role involves monitoring operations, testing controls, and assisting with policy maintenance and audit readiness.

The ideal candidate has 3+ years in financial services focusing on deposits, customer service, or compliance, and a working knowledge of banking regulations.

Qualifications

• Bachelor's degree or equivalent industry experience
• 3+ years in financial services with a focus on deposit operations, customer service, or compliance
• Knowledge of banking regulations

Responsibilities

• Monitor reporting and critical areas of operations for accuracy, consistency, and compliance to mitigate regulatory and operational risk
• Conduct sampling and testing of operational workflows to ensure effectiveness of controls
• Assist with tracking, review, and execution of risk management strategies and key internal controls
• Conduct periodic reviews and assist with maintenance of written policies and procedures
• Collaborate and provide reporting and feedback to management pertaining to quality assurance assessments and process improvements
• Maintain current knowledge of business processes, regulations, and upcoming regulatory changes
• Assist with preparation and facilitation of audit and examinations
• Analyze and interpret data to monitor trends and root causes
• Partner with managers to proactively address issues
• Assist with testing and preparation for new products and services
• Possess deep understanding of business process and regulatory requirements
• Demonstrate attention to detail with a high degree of accuracy
• Display strong initiative with ability to meet deadlines and accomplish objectives with minimal supervision
• Demonstrate ownership of the quality assurance function within Deposits
• Exercise strong organizational, time management, interpersonal, communication, and critical thinking skills
• Maintain a high standard of regulatory awareness including BSA, AML, CIP, and OFAC

Skills

Regulatory knowledge

Analytical thinking

Attention to detail

Communication skills

Education

Bachelor's degree or equivalent

Job description

About Us

Live Oak Bank is a digital bank that serves small business owners across the country. Our groundbreaking spin on service and technology has fueled our mission to be America's Small Business Bank. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak, we never lose sight of the well-being of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream.

How This Role Impacts Live Oak and its People We are on a mission to be America's small business bank. Our deposits help fund loans for small businesses across the country. As a Deposit Quality Assurance Associate, you help fuel the growth of small businesses. The Deposit Quality Assurance Associate supports the compliance, risk, and governance functions of the Deposits team as it undergoes a multi-year expansion of products, services, and technology. The Deposit Quality Assurance Associate is a designated essential employee and may be required to be available after hours, and to work either in the office or remotely during inclement weather or a disaster scenario.

What You’ll Do at Live Oak

• Monitor reporting and critical areas of operations for accuracy, consistency, and compliance to mitigate regulatory and operational risk
• Conduct sampling and testing of operational workflows to ensure effectiveness of controls
• Assist with tracking, review, and execution of risk management strategies and key internal controls
• Conduct periodic reviews and assist with maintenance of written policies and procedures
• Collaborate and provide reporting and feedback to management pertaining to quality assurance assessments and process improvements.
• Maintain current knowledge of business processes, regulations, and upcoming regulatory changes
• Assist with preparation and facilitation of audit and examinations.
• Analyze and interpret data to monitor trends and root causes.
• Partner with managers to proactively address issues.
• Assist with testing and preparation for new products and services.
• Possess deep understanding of business process and regulatory requirements
• Demonstrate attention to detail with a high degree of accuracy
• Display strong initiative with ability to meet deadlines and accomplish objectives with minimal supervision
• Demonstrate ownership of the quality assurance function within Deposits
• Exercise strong organizational, time management, interpersonal, communication, and critical thinking skills
• Maintain a high standard of regulatory awareness including BSA, AML, CIP, and OFAC

Required Experience

• 3+ years in financial services with a focus on deposit operations, customer service, or compliance
• Bachelor's degree or equivalent industry experience
• Knowledge of banking regulations

Our Values

• Dedication: Possess a deep commitment to Live Oak Bank's mission and core values, exemplified through a strong work ethic, adaptability and pride in your work.
• Ownership: Take initiative to deliver positive results by proactively and creatively solving problems, while maintaining a high degree of quality.
• Respect: Treat everyone with courtesy, politeness, and kindness.
• Innovation: Embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems.
• Teamwork: Foster collaboration, accountability, and trust with others and understand that together, we do more

Compensation

• The base pay range for this position is $19.77 - $32.12 per hour.
• Compensation may also include annual bonuses and long-term incentives, subject to various metrics and company policy.
• A candidate’s salary is determined by several factors including travel, relevant work experience or skills and expertise.
• Please note that we provide at least the minimum requirement of paid sick leave to our employees who reside in states that require employer-paid sick leave, including but not limited to Arizona, California, Colorado, District of Columbia, Maine, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, and Washington.

Live Oak Bank is an Affirimport and Equal Opportunity Employer, Minorities/Women/Veterans/Disabled.

We consider applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, veteran status or disability.

Equal access to programs, service and employment is available to all persons.

Those applicants requiring reasonable accommodation to the application and/or interview process should notify human resources at [e-mail].

EEO is the Law

More than just a job, a career at Live Oak is an opportunity to mold the future of the banking industry. Live Oak Bank would not be the top SBA 7(a) and USDA lender in the country without our people. We focus on hiring folks who are dedicated to living our values, every single day. Together, we're on a mission to be America's small business bank. At Live Oak we never lose sight of focusing on the wellbeing of our folks. We believe our employees are the heart of our company and drive our commitment to our customers. As part of the Live Oak team, you'll have the chance to shape the next chapter of banking while supporting the backbone of our nation - small businesses.