Compliance Officer

Medallion Bank•Cottonwood Heights, UT

6d•Hybrid

About The Position

At Medallion Bank we finance fun! We are an industrial loan bank that specializes in providing consumer loans for the purchase of recreational vehicles, boats, home improvement, and offering loan origination services to fintech partners. We work directly with thousands of dealers, contractors and financial service providers serving their customers throughout the United States. Medallion Bank is a small company with a big impact. We recognize our employees as our greatest asset and have a culture to prove it!

Requirements

Strong knowledge of federal laws and regulations applicable to consumer lending, including but not limited to BSA, UDAAP, Fair Lending, TILA, FCRA, FACTA, Privacy, SCRA, MLA, E-SIGN, FDCPA, TCPA, CAN-SPAM, CRA, and EFTA.
Ability to respond quickly and effectively to feedback.
Ability to interface effectively with Bank management.
Excellent written and verbal communication and interpersonal skills.
Self-motivated and hard working.
Ability to handle multiple duties simultaneously and meet deadlines.
Ability to understand and analyze complex concepts, think critically, and solve problems.
Bachelor’s degree or equivalent work experience.
Minimum of 5 years of experience in financial-institution compliance.
Strong understanding of federal banking and consumer-protection laws and regulations, including but not limited to: Bank Secrecy Act, Equal Credit Opportunity Act, Truth in Lending Act, Fair Credit Reporting Act, Servicemembers Civil Relief Act, Military Lending Act, Privacy rules and regulations, Community Reinvestment Act, and federal prohibitions on Unfair, Deceptive, and Abuse Acts and Practices.
Must successfully pass a pre-employment background check and maintain eligibility for continued employment.
Must comply with all Bank policies, procedures, and applicable regulatory requirements.
Must maintain professionalism, discretion, and confidentiality when handling customer, employee, and business information.
Must possess and maintain a valid driver’s license and acceptable driving record, if travel is required for the position.
Must be authorized to work in the United States without current or future sponsorship requirements.

Nice To Haves

A JD degree is helpful but not required.
Current financial-institution compliance certification, such as CRCM, CCBCO, CUCE, CAFP, CAMS, CIA, etc.

Responsibilities

Investigate and report financial crimes, including identity theft against Bank customers and consumer loan fraud against the Bank, for purposes of compliance with BSA/AML requirements.
Be informed regarding applicable laws, regulations, rules, and guidance applicable to the Bank’s business operations.
Assess applicable regulatory requirements on the Bank’s operations, determine the breadth and strength of controls needed to adhere to those requirements, and assist in implementation of those controls.
Create and maintain appropriate compliance policies and procedures to address compliance with applicable legal and regulatory requirements in a manner designed to prevent violations and to detect and prevent associated risks of harm to consumers.
Administer the Bank’s compliance training program to ensure that employees have a sufficient level of knowledge of the laws and regulations that impact their jobs. Develop and disseminate to employees as needed communications regarding important compliance topics and matters requiring their attention.
Coordinate with business line management to develop, implement, and maintain appropriate compliance monitoring routines of key business processes, and to review the results of monitoring and address with management any identified deficiencies.
Develop reporting and analysis sufficiently detailed in scope and content to provide management and the board of directors with the information and interpretation necessary to assess the effectiveness of the compliance program.
Manage the Bank’s consumer complaint response process to ensure that all complaints and inquiries are received, addressed, and resolved promptly. Gather, organize, and retain intelligence from consumer complaints for root-cause analysis and to drive adjustments and improvement to business practices as appropriate.
Track compliance issues identified through monitoring, testing, audit, or examinations, and collaborate with Bank management on the development and implementation of corrective actions.
Coordinate the response to and collection of information associated with bank examinations and visitations. Help track and resolve examination findings and recommendations.
Oversee the administration of the Bank’s Community Reinvestment Act Program, including community-development lending, investments, grants, and service activities.
Direct the coordination of employee volunteer activities in support of the Bank’s efforts to strengthen communities and improve lives.
Assist as needed in the compliance management of the Bank’s strategic partnership program.