Columbia Bank New Jersey · 1 week ago
Commercial Compliance Analyst
Fair Lawn, NJ
Full-time
Hybrid
Mid Level
$65K/yr - $98K/yr
3+ years expColumbia Bank New Jersey is seeking a Commercial Compliance Analyst responsible for ensuring compliance with laws and regulations in the Commercial Lending and Commercial Credit Departments. The role involves monitoring compliance, data collection, and implementing testing procedures to maintain regulatory standards.
BankingFinancial ServicesMortgage
Responsibilities
Monitors underwriting processing timelines through the development and review of weekly Regulation B reports
Identifies loan transactions that are reaching the maximum allowable time for underwriting and communicates with the respective personnel in commercial credit and lending to ensure compliance with processing time requirements
Ensures adverse action letters are issued as required by Regulation B for declined, withdrawn, and incomplete loans, as well as counteroffer letters
Reviews loan information outlined in commercial credit approval memos and corresponding worksheets to ensure that the loans are reportable under the Home Mortgage Disclosure Act and Community Reinvestment Act. Confirms that all data in the corresponding worksheets is accurate
Responsible for the collection, input and accuracy of HMDA and CRA data into the Bank’s monitoring software. Works closely with the Community Development and Compliance Departments to ensure all data is provided timely and is accurate
Develops and implements first line of defense transaction testing to self-identify potential issues
Performs transaction testing on a sample of loans to ensure compliance with regulatory requirements and internal procedures
Tracks exceptions through the development and issuance of issue management reports to management. Leverages findings to identify opportunities for procedural improvements
Develops reports to summarize monthly transaction testing results to management. Makes recommendations to enhance departmental procedures
Tracks exceptions through the development and issuance of issue management reports to management
Creates additional commercial compliance related reporting as needed
Develops and maintains policies and procedures related to first line commercial compliance monitoring and testing
Works with the Commercial Lending, Credit and Closing Departments to enhance departmental policies, procedures and documentation to meet regulatory expectations
Remains current on regulations impacting commercial lending related activities
Monitors regulatory changes and ensures that related policies, procedures and documentation is updated accordingly
Performs other job-related duties as assigned
Qualification
Required
Bachelor's Degree
Three or more years of regulatory compliance related experience as it pertains to residential, consumer and/or commercial lending
Strong attention to detail, accuracy, and adherence to deadlines
Ability to adopt and leverage new technology
Excellent verbal, written and interpersonal communication skills
Strong analytical skills
Proficiency in Microsoft Excel
Must have knowledge of all regulations that apply to Commercial Lending, including, but not limited to: Regulation C - HMDA, Regulation BB - CRA, Small Business, Community Development, Regulation H - Flood, Regulation B - ECOA, Adverse Action, 30-day rule, Regulation V - FCRA & Identity Theft Red Flags, Servicemembers Civil Relief Act, Bank Secrecy Act
Benefits
Medical, Dental, Vision and Rx which are contributory.
Bonus programs.
Employee Stock Option Program (ESOP).
Life Insurance, Long Term Disability and Accidental Death and Dismemberment (LTD&AD&D).
Paid Time Off (PTO) which includes Personal and Vacation Time.
Paid Sick Time.
Bank Holidays.
Employees may participate in the 401k program.
Company
Columbia Bank New Jersey
Columbia Bank New Jersey is a bank that offers home mortgages and home equity loan services in New Jersey.
501-1000 employees
Funding
Current Stage
Public CompanyTotal Funding
unknown2018-04-23IPO
Leadership Team
P
Peter Michelotti
Vice President
Recent News
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