Job description

Merrick Bank employees share in our mission to delight our customers and empower underserved consumers to achieve their credit goals. In return, we delight our associates; ensuring they are noticed, heard, appreciated and understand the importance of their role(s). For over 20 years, our Guiding Principles of; doing the right thing, putting the customer first, and Earn, Learn, Have Fun (aka E.L.F.), have defined who we are as an Employer of Choice. Give Yourself Credit, Work at Merrick!

The Compliance Specialist (BSA) role is responsible for the day to day administration of the Bank’s BSA program. This includes working exceptions reports for suspicious activity, suspicious activity investigation, SAR filing, OFAC match research and reporting, and FinCEN 314(a) and 314(b) checks.
This role supports the overall direction of the compliance activities of Merrick Bank Corporation (the “Bank”) by performing, or assisting in the performance of, the primary duties listed below.

Essential Functions:
As directed by the Senior Compliance Manager and/or Chief Compliance Officer:

• Monitor for Company compliance with the Bank Secrecy Act.
• Perform investigation into potential suspicious activity. Prepare Suspicious Activity Reports to be filed with the appropriate regulatory agencies.
• Manage the OFAC, 314(a) and 314(b) processes. Ensure reports are filed timely and accurately.
• Monitor for company compliance with the FACTA Red Flag requirements. Tabulate results of any testing and independently prepare written findings reports.
• Conduct training as needed in each of the areas of responsibility.
• Provide risk assessments in each of the areas of responsibility.
• Assist as needed with lending/deposit product testing for compliance to various laws and regulations.
• Assist as needed with conducting reviews of the Company’s compliance to policies in the areas of lending, deposits, new products, etc.
• Tabulate results of any testing and independently prepare findings reports.
• Report to the Compliance Officer on any suspect violations of law, regulations or non-compliance to Company policy.
• Demonstrate an ability to adapt to any changes in the regulatory environment.
• Attend conferences and trainings to enhance compliance knowledge and skills (some travel may be required).
• Other duties as assigned by the Compliance Officer.

Compliance with Laws & Regulations:

• Responsible for complying with all of the Bank’s internal control policies and procedures.
• Responsible for understanding and complying with all laws and regulations to which the Bank is subject.
• Responsible for communicating problems in operations, noncompliance with the code of conduct, noncompliance with laws and regulations, policy violations, or illegal acts.

Education and Experience:

• One (1) year work experience with Bank Secrecy Act or equivalent educational or banking experience.
• Relevant industry certification desired (CAMS, CAFP).

Summary of Qualifications:

• Knowledge of banking industry functions including accounting, ACH, audit, credit, finance, marketing, operations etc.
• Knowledge of banking laws and regulations preferred.
• Effective planning, organizational, time management, and problem-solving skills.
• Ability to work effectively under pressure. Skilled at handling a variety of assignments simultaneously. Flexibility and willingness to work at a rapid pace in strict time frames.
• Keyboard and Windows-based applications (Microsoft Office) experience is required.
• Professional demeanor and appearance are necessary; personal work habits that inspire the best in others.
• Effective oral and written communication skills, organizational skills, and sound judgment. Exhibit diplomacy and patience when dealing with co-workers, and others.
• Ability to work independently and without direct or continuous supervisory support.
• Communicates effectively both orally and in writing; presents ideas in a clear, concise, understandable, and organized manner.

Who is Merrick Bank? Founded over 20 years ago, Merrick Bank is a FDIC-insured Utah Industrial Loan Bank that originates loans with the benefit of low-cost deposit funding. Merrick Bank had $4.5 billion in assets and $3.1 billion in deposits as of March 31, 2021. Merrick Bank operates four main business lines: Credit Cards, Recreation Lending, Personal Loans and Merchant Acquiring.

Our Valued Employees are provided generous benefits, including:

• Competitive Pay
• Benefits Package -Medical, Dental and Vision (plus much more)
• 401(k) Plan with Company Match
• Short & Long Term Disability
• Group Life and AD&D Insurance
• Paid Vacation, Holidays, and Personal Days
• Employee Events, including Employee Appreciation Day, Holiday Party, etc.
• Tuition Reimbursement Program

Candidates must have unrestricted authority to work in the United States without sponsorship.

If this position is based in our Woodbury, Long Island office or Virtual, please note that ALL the work for this position must be performed outside of the five Boroughs of New York City.

Merrick Bank is an equal opportunity employer, and we evaluate qualified applicants without regard to race, color, religion, sex, national origin, disability, veteran status or any other legally protected characteristic. We will conduct a thorough background check for all hires in compliance with applicable law which includes (but may not be limited to) a review of factors including the applicant’s employment/personal references and drug testing.

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