Deposit Compliance Analyst

Company: Heritage Bank
Location: Tacoma
Posted on: May 27, 2023

Job Description:

Base Salary Range:
$65,620.00 - $82,030.00 - $98,430.00 annual
At Heritage Bank, we work hard, but we also know how important it is to take time off to stay healthy, relax, and spend time doing what makes your heart happy!
As part of our team, you'll enjoy a total rewards package, which includes base salary based on the role, experience, and skill set, along with an exceptional benefits package (medical, dental, vision, life insurance, 401(k), community volunteer time), and generous time off policy. Full-time team members receive a minimum of 10 paid vacation days annually* and eight hours of paid sick leave per month*, while also enjoying 11 paid holidays each calendar year, and an annual float day. *pro-rated from start date and/or hours worked. To view Benefits Summary: Apply > Current Openings > position > attachment.
Position Overview:
The Deposit Compliance Analyst supports regulatory compliance for deposits, the Bank's privacy and debit card programs, and marketing, servicing, digital channels, and Customer Service Center. Additionally, this position assists in the execution of an oversight and monitoring program and risk assessment process, which includes but is not limited to the preparation of compliance-related communications, training, policies and procedures, committee and management reports, and advising on new product development strategies and corporate projects
Preferred geographical location is Tacoma, WA. Depending on experience, other Heritage Bank locations in WA / OR may be considered.
The successful candidate:

• Provides advice and guidance to assigned business groups on implementation of solutions aligned to regulatory risk appetite based on an understanding of business operations and stakeholder need.
• Monitors changes in laws, regulations and examination trends through external regulatory services and distributing related information, in a timely manner, to all applicable areas of the company. Ensures that regulatory changes are fully incorporated and implemented in policies and procedures within required timeframes.
• Consults on new products, services and automated systems to assist with incorporating compliance requirements into these initiatives.
• Identifies and advises on emerging issues and trends to inform decision-makers.
• Builds effective professional relationships with business groups, internal/external stakeholders and trust with regulators.
• Establishes and maintains regular, direct and informal communications with deposits employees and outsourced vendor partners that support origination and servicing of products.
• Analyzes and reports on compliance data and information to gain insight on regulatory risk. Elevates high profile issues and risk cases to senior management and appropriate business units and consults and guides in establishing controls to mitigate risks, in a timely manner.
• Participates in the design, implementation and management of core business group processes.
• Conducts and/or effectively challenges risk assessments, monitoring (including monitoring the satisfactory resolution of issues), and testing activities to identify effectiveness of compliance controls, ensure alignment with regulatory requirements, and support root cause analysis in response to material control failures.
• Assists with preparation for and participates in compliance audits and regulatory examinations.
• Elevates high profile issues/risk cases to the Chief Compliance Officer and business/group
• Develops and maintains a high level of expertise in all laws, regulations, directives, and guidance that apply to the business groups supported.
• Provides input to business/group on emerging risks, regulatory developments and interpretation of regulations and advises first line of defense management and employees on compliance matters.
• Ascertains training needs and helps develop training based on gaps identified through the compliance monitoring and testing.
• Reviews marketing materials, sales materials, and advertising (or similar material), as applicable, to ensure compliance standards are met and maintained.
• Participates on the Bank's Management Compliance Committee.
• Understands and maintains working knowledge of, and ensures bank activities are performed in compliance with, all state and federal banking laws and regulations applicable to assigned area Requirements:
  • High School diploma or equivalent - required. Bachelor's degree in Business, Accounting, Finance or relevant course of study - preferred.
  • 3+ years' recent, relevant compliance experience, which includes working knowledge of all banking, and compliance regulations applicable to deposit accounts and deposit operations - required.
  • Professional credentials in compliance, risk and/or audit - highly desired.
  • Equivalent combination of education, certifications and/or relevant work experience may be considered.
  • Provides an exceptional level of quality service for internal/external customers; responds to customers' needs, questions, and concerns in an accurate, effective, and timely manner.
  • Demonstrated ability to develop and maintain strong working relationships with all business units, management, staff, regulators and audit personnel, to achieve common goals.
  • Strong listening, verbal, written, and telephone etiquette business communication skills, including effective questioning strategies and presentation skills; with the ability to read, write, speak, and understand English well.
  • Comprehensive understanding of bank operations, with working knowledge and training in all operational, deposit activities and terminology - required.
  • Knowledge of all financial institution policies and procedures and the Bank's products and services, with working experience in all facets of deposit related rules and regulations.
  • Thoroughly understands and applies principles, procedures, compliance requirements, state/federal regulations, and policies related to assigned area.
  • Ability to read, analyze and interpret government regulations, trade journals and legal documents.
  • Working knowledge of all areas of the organization and ability to develop a clear understanding of the company's key functional processes and resources, effectively partnering with all lines of business to lead and affect process changes and improvements.
  • Demonstrated ability to quickly focus on key issues and make decisions under pressure of time constraints.
  • Strong problem-solving, attention to detail, organizational, data review, project management and time management skills, with the ability to accurately manage multiple assignments, goals, and reporting requests, ensuring priorities are set and commitments and deadlines are met, with minimal direction and supervision.
  • Effective decision-making skills with proven ability to analyze information, develop strategies, and deliver results.
  • Process-oriented, unquestionable integrity in handling sensitive and confidential information required.
  • Proficient and advanced use and understanding MS Office products (Word, Excel, Outlook), and the Bank's core processing system, with the ability to adapt to new products and technologies quickly Work Environment/Conditions:
    • Climate controlled office environment.
    • Operates effectively within a high stress environment with constantly changing expectations and regulatory & audit scrutiny.
    • Work involves being able to concentrate on the matter at hand, under sometimes distracting work conditions, and frequent employee and customer contacts and interruptions during the day.
    • Work requires regular attendance, punctuality and adherence to agreed-upon schedule with willingness to work a flexible and/or rotating schedule and or extended hours, as needed. Physical Demands/Effort:
      • Work may involve the constant use of computer screens, reading of reports, and sitting throughout the day.
      • Ability to operate a computer keyboard, multi-line telephone, photocopier, scanner and facsimile which often requires dexterity of hands and fingers with repetitive wrist and hand motion.
      • Typically sitting at a desk or table; intermittently standing, stooping, bending at the waist, kneeling or crouching to file materials.
      • Occasional lifting up to 10 lbs. (files, boxes, handouts).
        Travel Time: Occasional travel to branch and department locations, which may include overnight travel availability when needed; valid driver's license, proof of insurance, and access to reliable transportation; or the ability to access and utilize an alternative method of transportation, when needed, to carry out job-related essential functions.
        The above statements are intended to describe the general nature and level of work being performed and are not an exclusive list of all qualifications for this position.
        Heritage Bank is an Equal Opportunity Employer
        All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran status, disability, or any other basis protected by applicable law.
        Job applicants have certain legal rights. Please click here for information regarding these rights.
        If you need assistance completing the online application, please email: HBRecruiting@HeritageBankNW.com
        Salary Range Disclaimer
        The base salary range represents the min, mid and max of Heritage Bank's salary range for this position. Actual salaries will vary depending on factors including, but not limited to, qualifications, experience, and job performance. The range listed is just one component of Heritage Bank's total compensation package for full time and part time employees. Depending on position, other total compensation rewards may include monthly, quarterly or annual incentive, and/or bonuses.
        ##JobCategory:Compliance / Audit##
        ##Street:3615 Pacific Avenue##
        ##City:Tacoma##
        ##State:WA##
        ##ZipCode:98418##
        ##Internal:false##
        *mon

Keywords: Heritage Bank, Tacoma , Deposit Compliance Analyst, Accounting, Auditing , Tacoma, Washington