Loan Servicing Representative

Merchants Bank; Winona (MN); On-site; USD 90,000 - 130,000; Full time

Job summary

Merchants Bank is seeking a Compliance Officer to lead the Compliance function. This on-site role may be based at any Minnesota or Wisconsin branch. The incumbent will supervise the Compliance Specialist, coordinate audits (internal/external), manage information requests, and oversee CRA activities.

Occasional travel required and ongoing regulatory knowledge is essential. The ideal candidate holds a Bachelor's degree in a related field, with 5+ years banking compliance experience; CRCM preferred

Qualifications

• Bachelor's degree in Business, Finance, Accounting, Economics, Risk Management or related field required.
• CRCM designation preferred.
• CAMS, CFE, CIA or other relevant certifications are desirable.
• Minimum of five years of progressive responsible banking compliance experience.
• Demonstrated knowledge of federal consumer protection regulations and compliance risk management practices.
• Experience interacting with federal and state regulatory agencies preferred.
• Must be willing to be flexible and adaptable.
• Must be prepared to learn new regulations and laws.

Responsibilities

• Provide supervision and leadership for Compliance Specialist to ensure growth of the personnel and meeting all expectations of the companies compliance program.
• Responsible for relationship and working through all compliance audits, including external, as well as exams.
• Includes sending out request lists, gathering and indexing all required documents, working with external auditors/examiners during the audit, reviewing draft report and working with employees for responses and actions, review final report, train employees as needed on findings and track completion of actions.
• Will be the company CRA officer and manage CRA communications, preparation, review and exams.
• Work with chief risk officer on annual risk assessment completion.
• Oversee completion of outsourced MERS audit and work with mortgage team on completion.
• Complete following audits as scheduled.
• Complete annual progress report.
• Stay current on compliance and audit issues as they pertain to banking via training and self-education.
• Run compliance officer meetings and attend strategic alignment meetings and present as needed.
• Review marketing materials for compliance.
• Answer compliance questions of employees.

Skills

Leadership

Audit coordination

Regulatory knowledge

Team training

Communication

Education

Bachelor's degree in Business, Finance, Accounting, Economics, Risk Management or related field

CRCM designation preferred

Certifications: CAMS, CFE, CIA desirable

Job description

Merchants Bank has an opening for a Compliance Officer. This on-site position can work from any of our Merchants Bank branch locations in Minnesota or Wisconsin.

This position will provide leadership for the Compliance function by conducting research, working with a variety of systems, and with team members. Will supervise the Compliance Specialist. Duties include working with compliance audits (internal and external), sending out requests, gathering information, reviewing reports and findings, and training employees. This role will serve as the company CRA Officer, work on annual risk assessment, and oversee the outsourced MERS audit. Will stay current on compliance and audit information as well as new laws and regulations. Some travel required.

A Bachelors degree in Business, Finance, Accounting, Economics, Risk Management or related field required. Certified Regulatory Compliance Manager (CRCM) designation preferred. Requires a minimum of 5 years of experience in banking compliance.

Merchants Bank offers competitive wages and benefits for our full-time employees including health, dental, life, disability and vision insurance; flexible spending accounts, 401(k) and ESOP retirement plans; bonus plan; paid time off; tuition reimbursement; and a variety of voluntary supplemental insurance options.

Merchants Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.

General Summary

Work is performed under general supervision according to established policies and procedures. Provide leadership of Compliance functions as needed. A variety of duties are related to this job including research, working with different software and hardware systems and team members. This position requires a well‑organized and motivated individual with the ability to initiate projects and follow through as needed. Must be willing and able to work with limited supervision. Must be willing and able to provide leadership in the compliance area and deal with different types of people.

Primary Responsibilities and Duties

• Provide supervision and leadership for Compliance Specialist to ensure growth of the personnel and meeting all expectations of the companies compliance program.
• Responsible for relationship and working through all compliance audits, including external, as well as exams. Includes sending out request lists, gathering and indexing all required documents, working with our external auditors/examiners during the audit, reviewing draft report and working with employees for responses and actions, review final report, train employees as needed on findings and track completion of actions.
• Fair lending audit review the RATA reports and complete research to determine we have no fair lending issues.
• Will be the company CRA officer. Responsible for CRA communication, preparation, review and exams. Work with compliance specialist to maintain public file, volunteer hours, donations, investments, maps, community development loans, etc. Complete quarterly CRA review.
• Work with chief risk officer on annual risk assessment completion.
• Oversee completion of outsourced MERS audit and work with mortgage team on completion.
• Complete following audits as scheduled.
• Complete annual progress report.
• Provide necessary research for laws and regulations.
• Assist with training staff on different laws, regulations and procedures.
• Stay current on compliance and audit issues as they pertain to banking via training and self‑education.
• Run compliance officer meetings and attend strategic alignment meetings and present as needed.
• Review marketing materials for compliance.
• Answer compliance questions of employees.
• Regular and dependable attendance is an essential function for this job.
• Employee will be expected to contribute to a positive working environment through words and actions.
• Employee will be expected to greet internal and external customers in a friendly and outgoing manner.
• Employee will be expected to complete compliance and product knowledge assignments in a timely manner.

Skill Requirements

• Bachelor's degree in Business, Finance, Accounting, Economics, Risk Management or related field required.
• Certified Regulatory Compliance Manager (CRCM) designation preferred.
• CAMS, CFE, CIA or other relevant certifications are desirable.
• Minimum of five years of progressive responsible banking compliance experience.
• Demonstrated knowledge of federal consumer protection regulations and compliance risk management practices.
• Experience interacting with federal and state regulatory agencies preferred.
• Must be willing to be flexible and adaptable.
• Must be prepared to learn new regulations and laws.

Working Conditions

Inside working environment, very low noise level. May include travel to affiliate operations as required. Work is performed primarily sitting at a desk. Requires a high degree of finger dexterity, very good finger‑eye coordination.

Relationships

Responsible to the chief risk officer for clarification of position responsibilities, authority, and proper interpretation.

Will have limited person‑to‑person and phone contact with customers and the public, however, may at times have extensive staff contact. Some travel is required. Must have ability to work in a team environment and have a personal manner to enhance overall professional image of the organization.