Compliance Due Diligence Analyst

Job Description

Job Description

Description:

At First Electronic Bank (FEB), we are driven by the purpose to make credit accessible to everyday Americans, and their businesses. Partnering with some of the most innovative FinTech companies in the nation, we offer a wide range of consumer and commercial credit products on a national basis. Offering revolving lines of credit, private-label credit cards, installment financing programs and more, FEB’s engages with strategic, collaborative partnerships, promoting services and products to provide the most beneficial consumer and commercial financing solutions.

The Compliance Analyst will play a role in ensuring that First Electronic Bank’s partnerships with FinTech companies comply with consumer protection regulatory requirements and internal policies. This role will participate in the ongoing management of FinTech partnerships (“Partners”), evaluate risks associated with Bank products and services, and collaborate with cross-functional teams to ensure compliance and risk mitigation.

What You'll Do:  

• Due Diligence: Support and contribute to building the end-to-end compliance due diligence process for onboarding new Partners, products, and services, ensuring alignment with regulatory requirements and internal standards under the direction of Compliance Leadership. 
• Compliance Risk Management: Contribute to the risk management of Bank products and services introduced by FinTech partners, identifying potential compliance, operational, and reputational risks. Evaluate Partners' compliance with relevant consumer protection laws, regulations, and industry standards (e.g., TILA, ECOA, FCRA, SCRA, MLA, EFTA, UDAAP, and privacy laws) through the review of various information and documentation provided by the Partner. Maintain and support the refinement of compliance frameworks, tools, and processes to ensure thorough and efficient reviews. 
• Collaboration and Stakeholder Management: Work closely with internal teams, including Anti-Financial Crimes, Credit, and Program Management, to ensure seamless collaboration and alignment on compliance standards. Support the development of guidance to FinTech partners to address compliance gaps or concerns identified during ongoing partner compliance management. 
• Documentation and Reporting: Contribute to the development of documented reports and recommendations for senior management and governance committees. Maintain accurate and up-to-date documentation of all assigned compliance activities and information/documentation review decisions. Build and maintain the spreadsheets, trackers, and reporting tools that support these reviews, using Excel and, where applicable, querying data the Bank maintains in Dynamics 365. 
• Regulatory Awareness and Training: Stay abreast of evolving regulatory requirements, industry best practices, and emerging risks in the Bank/FinTech space. 
• Quality Assurance Reviews: Assist with reviewing internal SP Compliance Team reporting and reconciliation to ensure adherence to standards. 

Requirements:

  What We're Looking For:

• Bachelor's degree or equivalent work experience. 
• 2+ years in the banking industry, preferably in a compliance role. 
• Advanced Microsoft Excel skills, including working with large data sets, functions and formulas (e.g., XLOOKUP or INDEX/MATCH), and PivotTables to clean, reconcile, and analyze data. 
• Strong analytical and problem-solving skills with the ability to evaluate complex scenarios. 
• Strong ability to digest complex written materials and communicate information to stakeholders. 
• Excellent communication and stakeholder management skills, with experience collaborating across functions and with internal and external partners. 
• Strong influential skills with the ability to position risks and concerns so they are understood by external and internal stakeholders.
• Ability to find win-win conclusions when faced with conflict. 
• Eagerness to expand knowledge of regulatory requirements applicable to Bank/FinTech partnerships (e.g., BSA, data privacy, consumer protection). 
• Enthusiasm for driving collaboration between banks and FinTech companies to foster innovation while maintaining compliance excellence. 
• Ability to cultivate intercompany relationships.

Preferred:  

• Familiarity using SQL to query and retrieve data is preferred, including the ability to interact with information the Bank maintains in Microsoft Dynamics 365. 
• Proficiency across the broader Microsoft 365 suite (Word, PowerPoint, Outlook, SharePoint, and Teams), including turning analysis into clear, reports and presentations. 
• Experience with Microsoft PowerQuery.