Compliance Analyst

About BankFund:

BankFund Credit Union is a full-service financial cooperative that was organized and chartered in 1947 as a convenient place for employees of the World Bank Group and International Monetary Fund and their families to save and to obtain credit. Located in Washington, DC, BankFund maintains three full-service branches downtown with our headquarters located near Farragut West metro station. This position is classified as a hybrid role which means that on-site work will be expected. After completion of training for the role, staff generally work on site 40% of the time but this is subject to change based on health and safety standards and operational need.

Role Responsibilities:

· Performs entry level Compliance Analyst  responsibilities with the guidance of a senior level analyst or supervisor.

· Keeps abreast of, monitors, and analyzes  developing trends and changes in regulatory compliance laws, rules and  regulations. 

· Works with the Human Resources department and  other departments as appropriate to maintain an effective compliance training  program.

· Maintains an effective compliance communication  program, including promoting (a) use of the Compliance Hotline; (b) heightened  awareness of regulatory requirements, and (c) understanding of new and  existing compliance issues and related policies and procedures.

· Draft and revise policies and procedures in  line with regulatory updates. Provide recommendations for necessary changes,  including alternative approaches consistent with guidance requirements.

· Review marketing and advertising content  including member facing communications for compliance. Submit recommendations  for change to the Supervisor, Compliance and Quality for consideration prior  to advancing to the Marketing and Business Development team.

· Reviews, and proposes revisions to Credit Union  forms, contracts, agreements, and disclosures to ensure compliance with  applicable laws, rules and regulations. Ensures recordkeeping of material to  historically document any changes.

· Supports senior level analysts in their work  with print and design vendors to ensure printed disclosure documentation is  compliant and appropriate for distribution to the Credit Union membership. 

· Supports compliance-focused dialog among  designated Credit Union personnel for the purpose of maximizing efforts to  ensure adherence to new and existing regulations.

· Identifies potential areas of compliance  vulnerability and risk; drafts corrective action plans for resolution of  problematic issues, and provides general guidance on how to avoid or address  similar situations in the future.

· Recommends, revisions to policies and  procedures for the general operation of the Compliance Program, including  internal operating policies and procedures.

· Participates in new product development and  provides input regarding compliance matters relevant to proposed and current  products and services offered by the Credit Union.

· With support of a senior level analyst,  conducts research of individual regulatory-related matters (i.e., practices,  proposals, services, systems, etc.), identifies and communicates regulatory  compliance, prepares Risk Assessments and documents deficiencies or potential  problems.

· Drafts written responses (as applicable) to  inquiries of a regulatory nature, supporting analysis, conclusions and  recommendations upon well-investigated and documented research of regulatory  requirements.

· Drafts regulatory-related documentation and  policy statements requiring adoption by the Board or for periodic Board review  and approval.

· Provides reports on a regular basis, and as  directed or requested, to inform the  Manager, Compliance and Quality Assurance of the operation and progress of  compliance efforts.

· Acts as an individual contributor on an ad hoc  basis and as requested by the Manager, Compliance and Quality or as a member  of a project team to provide compliance support of team efforts.

· Serves as an advisor to new and existing Credit Union staff members to positively influence their knowledge of compliance.

· Demonstrates a continued commitment to BankFund’s Service IMPACT philosophy

· All BankFund employees are required to remain cognizant of and adhere to all policies, procedures, and regulations pertaining to the Bank Secrecy Act

For internal purposes, this position is graded as NE - 9. 

The anticipated annualized base salary range for this position is $70,000 to $87,000. Final base salary for this role will be based on the individual’s job-related experience, skillset, training, certifications and market demands. The benefits available for this full-time position include but are not limited to: medical, dental, and vision insurance, 401(k) plan, life insurance coverage, disability benefits, tuition assistance program and paid time off, including paid parental leave benefits. In addition to base compensation salary, this role position is eligible for an annual incentive plan.

Minimum Qualifications

Education:        Bachelor's Degree

Minimum Years of Relevant Experience:           3 years

Skills and Knowledge (Required):  

• Excellent verbal and written communications skills
• Thorough knowledge of the Credit Union industry, products and services

Physical Requirements: 

• This position involves physical requirements typical of office or desk-based work, such as prolonged periods of sitting, computer use, and engagement in routine office activities. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the job.