Job Type: Full-time
Location: Parsippany, NJ
Summary:
The Senior Compliance Analyst is responsible for supporting and overseeing the Bank’s Compliance Department to ensure adherence to federal and state regulatory requirements through the effective management of the Compliance Management System (CMS). This role involves conducting compliance reviews, audits, and risk assessments to identify and mitigate regulatory risks, recommending corrective actions, and enhancing the organization’s overall compliance framework.
Additionally, the Senior Compliance Analyst manages the Internal Loan Review (ILR) Program in accordance with the Bank’s ILR Policy, overseeing third-party loan reviews and/or directly conducting reviews of the Bank’s commercial loan portfolio to ensure compliance with ILR Policy penetration guidelines. The role also includes collaborating with internal departments to interpret and apply regulations, assisting in policy and procedure development, supporting regulatory examinations, monitoring regulatory changes, and providing compliance training to strengthen the Bank’s compliance posture.
Minimum/Essential Job Requirements:
Primary Responsibilities
Monitor and interpret regulatory changes and updates to ensure the company remains compliant with all relevant laws and regulations.
Develop, implement, and maintain compliance policies and procedures.
Conduct regular compliance audits and risk assessments.
Provide training and support to staff on compliance-related matters.
Prepare and submit regulatory reports and filings as required.
Assist with monitoring regulatory requirements across various bank locations, including CRA, Fair Lending, Regulations AA, Z, C, E, DD, X, CC, FCRA/FACT Act, UDAP, etc.
Demonstrate experience with CRA and Fair Lending products.
Serve as a resource for regulatory matters and compliance-related initiatives. Respond to questions from business units regarding interpretations of regulatory requirements and applicable guidance. Provide compliance analysis and support for new products and services implemented by the bank.
Assists the Director of Compliance and BSA/AML (Chief Compliance Officer) with document collection for audits and regulatory examinations as necessary.
Perform other tasks which may be assigned by management.
Supervises the Compliance Coordinator.
Additional Responsibilities
Coordinate all third-party and internally performed loan reviews of the Bank’s commercial loan portfolio, ensuring adherence to the Bank’s ILR Policy penetration guidelines.
Oversee the FDICIA ILR risk management controls audits, which require a risk analysis of internal controls through the FDICIA matrix for the ILR department. Provide annual certification for each noted internal control.
Report on the ILR findings to the Bank’s Credit Risk Sub-Committee monthly and the Enterprise Risk Committee quarterly.
Track and report risk rating migrations to the Bank’s Credit Risk Sub-Committee monthly and the Enterprise Risk Committee quarterly.
Manage the annual review of the Bank’s Risk Identification Policy, presenting all edits to the Chief Risk Officer for approval, and then reporting to the Credit Sub-Committee and ERM. This includes cross-checking the policy risk rating metrics with the matrices in Abrigo.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, LGBTQ, national origin, disability or protected veteran status.