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15 Mar 2022

Full-Time Compliance Analyst II (Req# 707)

Eastern Bank – Posted by Easternbk Lynn, Massachusetts, United States

Job Description

The Collections Compliance Analyst plays a critical role in the successful execution of the Department’s compliance management system.  Based upon the wide number of regulations pertaining to Collections & Recovery, the incumbent will play an integral role in the Departments risk performance. This individual is responsible for the continued development of procedures to ensure compliance to the various regulations impacting the Collections & Recovery, performing self-assessments, monitoring, reviewing, and assessing call recording results, monitoring quality control results, monitoring vendor performance and assessing procedures for appropriateness and in conjunction with minimizing regulatory risk. The incumbent will be responsible for conducting loan file reviews to ensure adherence to quality control standards.

The Collections Compliance Analyst within the Collections in conjunction with the corporate wide risk program. Additionally, the incumbent will act as an advisor to the department head and liaison to both the Compliance and Operational Risk Department and Audit Departments regarding reviews, regulatory matters, and procedural changes.

As the Collections Compliance Analyst of the Collections  Department, this individual will be responsible for making decisions on a daily basis regarding a multitude of operational and regulatory risks. They will serve as the Compliance Officer consulting with the Bank’s Senior Compliance Officer on regulatory matters.  This individual will need be able to work under minimal supervision and be a self-starter for identifying and recommending enhancements to the department’s activities.

Major responsibilities include but are not limited to:

  • Monitoring and testing the effectiveness of the Departments compliance efforts through loan account reviews, call-recording results, and self- assessments.
  • Serving as the liaison to the Compliance and Operational Risk Department for all compliance related questions, training requirements and procedural changes.
  • Analyzing regulatory changes and collaborating with Collections and Recovery Department Managers to assess the impact of the changes in the Collections department.
  • Overseeing the vendor management program including attorneys and their insurance coverage, repossession agents, auto auction companies, collection agencies, etc.
  • Overseeing the Department’s regulatory compliance training program including industry related programs. Working with the management staff to ensure compliance with all risk assessments for assigned vendors and assist with the request of any required documents from vendors. Ensure all service agreements updated and as needed to comply with Eastern Bank compliance requirements.
  • Acting as a liaison between the department and the Compliance and Operational Risk Department, Audit Department and regulators relating to exams and assessments.

Education and Experience

  • Bachelor’s Degree from an accredited college or university
  • Knowledge of Consumer Collections & Recovery regulations
  • 2+ years’ experience in consumer and mortgage regulatory compliance
  • Experience in performing file reviews and assessing performance
  • Must be knowledgeable in FCRA & CFPB regulations

Skills and Knowledge

  • Effective conflict management skills and proven ability to enact change
  • Ability to develop a business rapport with various Departments and regulatory agencies
  • Ability to develop business partnerships
  • Effective written and oral communications; professional maturity and confidence in expressing point of view with  management and other peers
  • Analytical skills
  • Strong work ethic with flexibility to adapt to shifting priorities
  • Computer knowledge of front end systems as well as underwriting models of investors

How to Apply

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Job Categories: Equal Opportunities. Job Types: Full-Time. Job Tags: #BankingCareer, #FinanceCareers, and Banking. Salaries: Not Disclosed.

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