Compliance Analyst I

COMMERCEWEST BANK • Irvine, CA

8d • $70,000 - $80,000 • Onsite

About The Position

The Compliance Analyst’s role is to support the BSA & Compliance Officer and assist in the implementation and maintenance of the bank’s compliance program. You will be responsible for monitoring and analyzing regulatory requirements, internal policies, and industry standards to ensure the bank operates in adherence to applicable laws and regulations. Your primary focus will be on conducting compliance reviews, assessing risk, and providing recommendations to enhance the bank’s compliance framework; including advertising and disclosure reviews, and CRA-related activities.

Requirements

• Bachelor’s degree in business administration or related field preferred.
• Knowledge of banking regulations, such as anti-money laundering (AML), Bank Secrecy Act (BSA), Know Your Customer (KYC), and Consumer Financial Protection Bureau (CFPB) regulations.
• Experience working in a compliance or risk management role within the banking industry or a financial institution is preferred.
• Familiarity with compliance frameworks, risk assessment methodologies, and internal control systems.
• Strong analytical skills, with the ability to interpret and apply regulatory requirements to practical situations.
• Excellent attention to detail and the ability to identify potential compliance issues.
• Strong communication skills, both written and verbal, to effectively communicate compliance requirements and recommendations.
• Proficiency in using compliance software and tools to assist in monitoring and reporting.
• Ability to work independently, manage multiple priorities, and meet deadlines.
• Ethical conduct and commitment to maintaining the highest standards of integrity and professionalism.

Nice To Haves

• Relevant certifications or coursework in compliance or a related discipline are a plus.

Responsibilities

• Compliance monitoring and assessment: Monitor and analyze regulatory changes, industry trends, and internal policies to assess their impact on the bank's operations. Evaluate the bank's compliance with applicable laws, regulations, and internal policies through periodic reviews and assessments.
• Compliance reporting and documentation: Assist in the preparation and submission of compliance reports to senior management and regulatory authorities. Maintain comprehensive and accurate compliance documentation, including policies, procedures, reports, and records of monitoring activities.
• Risk assessment and mitigation: Conduct risk assessments to identify potential compliance risks associated with the bank's activities, products, and services. Collaborate with the BSA & Compliance Officer and management to develop strategies and controls to mitigate identified risks.
• Compliance reviews and audits: Perform compliance reviews and audits to assess the effectiveness of the bank's compliance program. Identify areas of non-compliance or potential weaknesses and provide recommendations for improvement.
• Regulatory research and analysis: Stay updated on changes in laws, regulations, and industry guidelines relevant to the bank. Conduct research and analysis to interpret regulatory requirements and assess their impact on the bank's compliance obligations.
• Training and awareness: Support the development and delivery of compliance training programs for bank employees. Assist in raising awareness of compliance policies, procedures, and regulatory requirements throughout the organization.
• Incident management and investigation: Assist in the investigation of compliance-related incidents or allegations. Collaborate with relevant management to gather information, analyze findings, and support the resolution of compliance issues.
• Compliance projects and initiatives: Contribute to the implementation of compliance-related projects and initiatives, such as the enhancement of compliance systems, automation of compliance processes, or the development of new compliance controls.
• Perform other duties as assigned.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 1-10 employees