Compliance Data Analyst: A Key Role in Banking Compliance
The Compliance Data Analyst is an integral position in banking institutions responsible for maintaining the highest level of regulatory compliance. This role is pivotal in ensuring that banks adhere to all necessary regulations and are able to accurately identify potential risks and opportunities in the realm of fair lending. This article delves into the details of what the job entails, the skills required, and the benefits of such a role in the banking sector.
Key Responsibilities of a Compliance Data Analyst
A Compliance Data Analyst is tasked with a broad spectrum of duties that vary from quantitative analysis of bank and customer data to the creation and maintenance of management reports. This role requires a deep understanding of federal regulations such as the Community Reinvestment Act, Regulation B-ECOA, Regulation C-HMDA, and Regulation Z-Truth in Lending. Some of the primary responsibilities of this role include:
- Performing moderate to complex HMDA and CRA analysis.
- Developing and maintaining various management reports to aid in risk identification.
- Designing and maintaining key compliance management dashboards.
- Performing comparative file reviews.
- Evaluating exception reporting to assess risk and compliance with Bank policies and procedures.
Attitudes, Behaviors, and Competencies
Along with the technical responsibilities, a Compliance Data Analyst is expected to demonstrate positive attitudes and behaviors that promote strong relationships with both internal and external clients. This includes treating everyone with respect, promoting inclusion, and delivering high-quality service that evokes trust and loyalty.
Integrity, collaboration, and volunteerism are key behaviors that are expected to be demonstrated by individuals in this position. These behaviors, coupled with accountability, innovation, and professionalism, form the core competencies that make a successful Compliance Data Analyst.
Professional Development Opportunities
Individuals in this position are encouraged to seek professional development opportunities. This includes taking advantage of training opportunities to advance knowledge of related laws and regulations. Participation in team meetings related to lending or deposit initiatives is also essential to build knowledge of department processes and understanding how compliance impacts other areas of the bank.
Qualifications, Education, & Experience
The minimum requirement for this position is a high school diploma or general education degree (GED), with 1 to 3 years of related experience. Secondary education is preferred. Essential skills include strong language skills, technology skills, mathematical skills, and reasoning ability. The job requires considerable time spent at a desk using office equipment such as computers, phones, and printers. Occasional travel to all market areas and attendance at seminars or training sessions offsite may also be required.
Benefits of the Position
Being a Compliance Data Analyst comes with a slew of benefits. These include medical, dental, vision & life insurance, 401K with company match, paid time off, recognized holidays, leave policies, voluntary benefit options, employee assistance program, employee health & wellness program, special loan and deposit rates, Gradifi Student Loan Paydown Plan, rewards & recognition programs, and much more.
It is important to note that CNB Bank, like all equal opportunity employers, considers all applicants based on qualifications without regard to factors such as sex, race, color, ancestry, religious creed, national origin, sexual orientation, gender identity, physical disability, mental disability, age, marital status, disabled veteran or Vietnam era veteran status.
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