Specialist II (Risk Assmts & Change), Compliance

The Specialist II, Risk Assessments and Change Management position serves on a team of risk management professionals to develop, implement, and maintain the various aspects of the Bank's Compliance Management System. This includes ongoing maintenance and development of Compliance policies and procedures, risk assessments, and regulatory change management activities to ensure the Bank adheres to the requirements of all applicable laws and regulations, industry standards, and risk management practices. This position is also responsible for representing the Compliance department in a variety of activities to include participation in projects at the Department and Bank level.

 

Essential Functions:

 

As directed by the Senior Compliance Manager and/or Chief Compliance Officer:

 

• Assist in the overall implementation and management of the Bank’s Compliance Management System.
• Participate in new product development, system initiatives and other projects to ensure potential compliance related issues are adequately addressed. Make recommendations to adjust the compliance training initiatives, testing and monitoring initiatives, and risk assessments, if appropriate.
• Identify control weaknesses or gaps and work with department managers, internal sponsors, and third-party management to address deficiencies.
• Assist with identification and assessment of federal and state regulatory changes to determine impact to the Bank. Report such changes to management and assist in determining appropriate responses. Conduct impact assessments and communicate key requirements and recommended actions to various business units within the Bank.
• Develop and assist in the implementation of new compliance related processes and special projects.
• Maintain compliance related policies and procedures to ensure continued applicability and accuracy.
• Advocate for enhancements to products, processes, procedures and services to ensure transparency and value for the consumer.
• 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.
• Assist in preparing material and resources for regulatory examinations.
• Demonstrate an ability to adapt to any changes in the regulatory environment.
• Participate in the mentoring of peers as requested by management.
• Perform other compliance related duties as assigned by the Compliance Risk Manager and/or Chief Compliance Officer.

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.

Education and Experience:

• 5+ years of progressive compliance and regulatory banking experience or equivalent educational or banking experience.
• Experience in Regulatory Change Management functions and/or systems.
• Experience in the administration and management of compliance risk assessments.
• Prior project management experience is preferred.
• Experience with RSA Archer is preferred.
• CRCM designation and/or law degree strongly preferred. 

Summary of Qualifications:

• Intermediate working knowledge of banking laws and regulations.
• Advanced communication skills are required – must be able to communicate clearly and collaborate closely with upper management, peers, and third party vendors. Communications must be clear, concise, understandable and organized.
• Advanced organizational skills with ability to analyze, interpret, and report on compliance and risk-related information.
• Effective planning, organizational, time management, and problem-solving skills.
• Ability to work effectively under pressure.  Skilled at handling a variety of assignments simultaneously.  Flexibility and willingness to work at a rapid pace in strict time frames.
• Professional demeanor and appearance are necessary. Exhibit diplomacy and patience when dealing with co-workers and others. 
• Ability to work independently and with minimal direct or continuous supervisory support.

Who is Merrick Bank? Founded over 20 years ago, Merrick Bank is a FDIC-insured Utah Industrial Loan Bank that originates loans with the benefit of low-cost deposit funding. Merrick Bank had $4.5 billion in assets and $3.1 billion in deposits as of March 31, 2021. Merrick Bank operates four main business lines: Credit Cards, Recreation Lending, Personal Loans and Merchant Acquiring.

Our Valued Employees are provided generous benefits, including:

• Competitive Pay 
• Benefits Package -Medical, Dental and Vision (plus much more) 
• 401(k) Plan with Company Match 
• Short & Long Term Disability 
• Group Life and AD&D Insurance
• Paid Vacation, Holidays, and Personal Days 
• Employee Events, including Employee Appreciation Day, Holiday Party, etc. 
• Tuition Reimbursement Program 

Candidates must have unrestricted authority to work in the United States without sponsorship.

If this position is based in our Woodbury, Long Island office or Virtual, please note that ALL the work for this position must be performed outside of the five Boroughs of New York City.

Merrick Bank is an equal opportunity employer, and we evaluate qualified applicants without regard to race, color, religion, sex, national origin, disability, veteran status or any other legally protected characteristic. We will conduct a thorough background check for all hires in compliance with applicable law which includes (but may not be limited to) a review of factors including the applicant’s employment/personal references and drug testing.