Analyst I (Third Party Products)

Merrick Bank • South Jordan, UT

35d

About The Position

Join our team - and take the next step in achieving a fulfilling career! What We Do At CardWorks, we aim to help people connect with possibility and opportunity using our financial servicing expertise . Building meaningful, long-term relationships with consumers, our employees, and our clients is what matters most. Who We Are CardWorks, Inc. is a diversified consumer finance service provider and parent company of CardWorks Servicing, LLC, Merrick Bank and Carson Smithfield, LLC . CardWorks Servicing, LLC provides end-to end operational servicing functions for credit cards, secured cards, and installment loans.  We service consumer and small business loans across the credit spectrum and offers backup servicing and due diligence services to capital providers and trustees. Merrick Bank is an FDIC-insured Utah Industrial Loan Bank . Merrick operates three main business lines : credit cards, recreational lending, and merchant services. Carson Smithfield, LLC provides a variety of post-charge-off debt recovery services, including digital self-service, IVR, live agent, and external agency management. As directed by compliance management: Assist in the overall implementation of the Bank’s Compliance Management System (CMS) and in the development of an overall compliance testing plan for third party products with compliance impact. Stay abreast of federal and state regulatory changes, report such changes to management and assist in determining appropriate responses, including the development of new testing plans Report to the Chief Compliance Officer on any suspect violations of law, regulations or non-compliance to Company policy and take responsibility to ensure resolution Maintain compliance related policies and procedures to ensure continued applicability and completeness Demonstrate an ability to adapt to any changes in the regulatory environment Perform other compliance-related duties as assigned by compliance management and the Chief Compliance Officer Serve as an advisor to the Business Units by helping interpret regulatory requirements and advising on control/process expectations and issues resolution Develop and present training on compliance topics as needed Attend conferences and trainings to enhance compliance knowledge and skills Assist in preparing materials and resources for regulatory examinations, department and committee meetings. Compliance with Laws & Regulations: Responsible for complying with all of the Bank’s internal control policies and procedures. Responsible for understanding and complying with all laws and regulations to which the Bank is subject. Responsible for communicating problems in operations, noncompliance with the code of conduct, noncompliance with laws and regulations, policy violations, or illegal acts. Assist with product testing and monitoring as follows: Conduct third party product testing and monitoring for compliance with various laws and regulations utilizing existing Bank programs, and prepare report of findings and present results to leadership Develop and maintain comprehensive testing plans for compliance related risks throughout the Bank Support the ongoing monitoring of key risk indicators and metrics associated with all third-party products with compliance impact. Revise and/or customize testing plans based on results of prior testing, regulatory changes, changes to internal processes, or audit/examination findings Identify process weaknesses or gaps and report them to the applicable business unit Assist with the review of marketing materials, customer communications, and disclosures of third party products to ensure compliance with applicable regulations. Assist with projects as follows: Participate in new product development, system initiatives, and other projects related to third party products. Assess needs related to consumer regulatory guidance and requirements by meeting with stakeholders and participating in project meetings, document the change and objectives and communicate to various Compliance teams Assist in conducting CMRAs for internal projects and determine compliance impact. Ensure all stakeholders within Compliance have awareness of project scope, so specific processes can be modified and updated Support multiple projects simultaneously, track project progress, and report milestone and potential issues with recommended resolutions Track and complete all project framework tasks as assigned. Maintain standard compliance documentation of the change activities for Compliance Assist with issues as follows: Participate in issue triage meetings and provide compliance recommendations on issue ratings Validate business unit remediation efforts as assigned and ensure timely and accurate resolution of identified issues before closure

Requirements

• High School Diploma or GED equivalent required
• Two (2) years of experience in compliance and regulatory banking experience in a consumer credits or banking experience is preferred.
• Experience in project or change management is desired
• Knowledge of banking industry functions including credit, deposit, finance, marketing, operations, etc.
• Knowledge of banking laws and regulations.
• Ability to obtain and maintain industry certifications (CRCM, CAMS, Etc.).
• Strong analytical background with proven track record for structuring/solving problems, drawing conclusions and formulating recommendations.
• Ability to plan, organize and prioritize multiple simultaneous assignments real-time, as well as manage to time constraints.
• Ability to work independently and without direct or continuous supervisory support.
• Communicates effectively both orally and in writing; presents ideas in a clear, concise, understandable, and organized manner.
• Keyboard and Windows-based applications (Microsoft Office) experience is required.

Nice To Haves

• Applicable certification desired (CRCM, CAMS. Etc.).

Responsibilities

• Assist in the overall implementation of the Bank’s Compliance Management System (CMS) and in the development of an overall compliance testing plan for third party products with compliance impact.
• Stay abreast of federal and state regulatory changes, report such changes to management and assist in determining appropriate responses, including the development of new testing plans
• Report to the Chief Compliance Officer on any suspect violations of law, regulations or non-compliance to Company policy and take responsibility to ensure resolution
• Maintain compliance related policies and procedures to ensure continued applicability and completeness
• Demonstrate an ability to adapt to any changes in the regulatory environment
• Perform other compliance-related duties as assigned by compliance management and the Chief Compliance Officer
• Serve as an advisor to the Business Units by helping interpret regulatory requirements and advising on control/process expectations and issues resolution
• Develop and present training on compliance topics as needed
• Attend conferences and trainings to enhance compliance knowledge and skills
• Assist in preparing materials and resources for regulatory examinations, department and committee meetings.
• Responsible for complying with all of the Bank’s internal control policies and procedures.
• Responsible for understanding and complying with all laws and regulations to which the Bank is subject.
• Responsible for communicating problems in operations, noncompliance with the code of conduct, noncompliance with laws and regulations, policy violations, or illegal acts.
• Conduct third party product testing and monitoring for compliance with various laws and regulations utilizing existing Bank programs, and prepare report of findings and present results to leadership
• Develop and maintain comprehensive testing plans for compliance related risks throughout the Bank
• Support the ongoing monitoring of key risk indicators and metrics associated with all third-party products with compliance impact.
• Revise and/or customize testing plans based on results of prior testing, regulatory changes, changes to internal processes, or audit/examination findings
• Identify process weaknesses or gaps and report them to the applicable business unit
• Assist with the review of marketing materials, customer communications, and disclosures of third party products to ensure compliance with applicable regulations.
• Participate in new product development, system initiatives, and other projects related to third party products.
• Assess needs related to consumer regulatory guidance and requirements by meeting with stakeholders and participating in project meetings, document the change and objectives and communicate to various Compliance teams
• Assist in conducting CMRAs for internal projects and determine compliance impact.
• Ensure all stakeholders within Compliance have awareness of project scope, so specific processes can be modified and updated
• Support multiple projects simultaneously, track project progress, and report milestone and potential issues with recommended resolutions
• Track and complete all project framework tasks as assigned.
• Maintain standard compliance documentation of the change activities for Compliance
• Participate in issue triage meetings and provide compliance recommendations on issue ratings
• Validate business unit remediation efforts as assigned and ensure timely and accurate resolution of identified issues before closure

Benefits

• Competitive Pay , including a Bonus Target or Variable Pay Incentive Program
• Benefits Package -Medical, Dental, and Vision (plus much more)
• 401(k) Plan with Company Match
• Short- & Long-Term Disability
• Wellness Programs
• Group Life and AD&D Insurance
• Paid Vacation, Sick Days and bank Holidays
• Employee Engagement Activities including Employee Appreciation Day, DEI Employee Resource Groups, Corporate Social Responsibility, Service Recognition

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED